The requirements for getting an unsecured business loan in Adelaide of between $5K to $100K are quite minimal.
Need more funds? Check out the eligibility requirements for our $100K to $500K business financing.
All that’s required to get started is your contact information (the name of your company, your name, email address and telephone), how much you’d like to lend, and your monthly income.
During the process and before settlement we’ll require confirmation of who you are but not to get started:
In addition, once we have started, for loans greater than $150,000 you’ll also need the following financial statements:
Let’s get started.
Adelaide unsecured loans offers amounts of between $5,000 and $100,000, with terms ranging from 3 and 24 months, cash flow-friendly repayments which can be made daily or weekly.
You can apply for your Small Business Loan in under 10 minutes over the phone. You’ll get an answer within the same day and funds may be on your account within 24 hours. Traditional business loans are based on an annual interest rate plus other fees and charges. The business loan is a cash-based loan which means you know in advance the amount you will have to pay, including any fees, interest or charges. This is then broken down into weekly or daily payment amount.
The Small Business Loan can be used for virtually any business reason, such as control of cash flow business improvements, advertising, to purchase inventory or new equipment, as general working capital and much more. The loan cannot be used to fund personal expenses.
The Larger Business Loan is a larger amount of loan to help business growth opportunities. Loans are between $100,000 and $500,000 with a fixed-term up to 36 months. Repayments are weekly or fortnightly depending on the flow of cash.
This Larger Business Loan has an Origination Fee that is determined at 2.5% of the amount of the loan.
To be eligible for a credit in this amount the business needs to have been in operation for at least 3 years and have an annual turnover of $700K. The applicant must also be a New Zealand Citizen (or Permanent Resident) at least 18 years old or have a New Zealand business (with a valid NZBN/IRD) and be able demonstrate at least 12 months of trading.
A Business Loan of a larger size can be used to fund almost any business reason, such as business renovations, to purchase inventory or new equipment or as general working capital and much more. The loan is not available for personal purposes.
Asset security is needed for accessing funds over $150,000. This is by way of charge over assets, which could also be registered on the PPSR or filing as a caveat.
A personal or director’s ensure is a commitment to repay credit that is generally based rather than specifying the security for a particular asset. The person who signs the ensure is personally liable in the event that the company borrower is unable to repay the debt.
The Personal Property Securities Register (PPSR) is an online, central register that is operated by the New Zealand Government. It lists security interests that are that are registered for personal property (including items or assets). The PPSR grants prioritisation over property that is personal to be assigned depending on the date that a registration of a security interest.
Caveats are legal document that is filed to offer notice of a legal claim against a property.
If you’re seeking larger business loans that exceeds $250,000, we may offer a preliminary pre-approval to help ease the process. We might be able to apply for this without a credit check and within 6 hours of your initial application. This pre-approval is made based on an initial assessment, which involves you answering a few financial health questions. This is not an offer of credit or guarantee of financing. Unconditional approval is subject to an assessment of your creditworthiness and any offer that you receive could be subject to different conditions.
You may be eligible for an company loan if you:
The process for applying is fast and simple. Just fill out the online application within a couple minutes, and a dedicated business lending specialist will call you to guide you.
To apply for up to $100,000, you’ll require the right identification documents (valid Driver’s Licence) along with a valid NZBN/IRD as well as at least 6 months of bank statements.
If you’re looking for loans with larger sizes, you’ll require:
$100K – $250K: Information about the application including credit approval, 6-12 months of bank statements, IRD statement (if loan above $150K).
$250K – $500K: Information on the application including credit consent and 12 months of bank records, IRD statements and the last two years’ finalised financial statements, plus interim financial statements for the current year including Aged Payables, Aged Receivables summary.
For an unsecured loan ($5K and up) We can usually provide an answer in just one hour if you submit your request during quality business timings and permit us to make use of the advanced bank verification system to instantly verify your bank information online. If you opt to submit copies of your bank statements , we’ll be able to provide an answer in as little as an business day.
If you are applying for a Larger Business Loan ($100K to $500K) we may be able to provide the conditional pre-approval within about six hours. After you’ve signed your pre-approval, turnaround times are between 2 and 3 days for the final approval. However, this could be shorter based upon the circumstances for each application. Some deals have been approved within less than 24 hours.
The quickest way to apply for you to apply is ensure you apply during normal business hours. You can also permit us to use the advance bank verification link to instantly verify your bank information online. If you choose to send us duplicates of your banking statements it will take a little longer.
For the Small Business Loan ($5K and up) we can often provide an answer within an hour – provided you submit your request during standard business time and let us use the advanced bank verification system to instantly verify your bank information online. If you want to upload copies of your bank statements, we are able to offer an answer in just the span of one business day.
If you are applying for Larger Business Loans ($100K up to $500,000) we may be capable of provide you with pre-approval conditional to your application within about 6 hours. Once you’ve signed your pre-approval, turnaround times are approximately 2-3 days to receive final approval. However, this can be faster depending on the circumstances of each application. Certain agreements have been approved in 24 hours.
The fastest way for you to apply is make sure you apply during normal business hours, and allow us to use the advance bank verification to check your bank’s information online. If you choose to upload the copies of bank accounts, it will take a little longer.
We offer loans that range from $5,000 to $500,000. When you submit an application for a certain amount we consider a variety of elements for determining what is the well-being of your business and the level of the repayments your business can afford. The total amount of your loan will depend on the specific circumstances that are unique to your company.
When you make an application for a set amount, we look at a range of elements to assess how much we can lend you such as well-being of the business and the level of the repayments your company is able to afford. The total amount of your loan will be determined by the particulars that are unique to your business.
If you decide to make an application for the business loan, we will assess the risk profile that you have for your company and offer you with a customised offer, including the amount of loan, the term and interest rates. It is a company loan is an upfront cost loan therefore you will be aware in advance of the total amount payable including any costs, fees, or interest rates.
Business loan interest rates depend on several factors like the amount of money borrowed, what company assets the funds will be used for as well as the field the business operates in, how long the business has been in operation as well as what percentage of the business has enough cash flow to cover the loan, and the overall well-being or financial standing of the company.
There aren’t any hidden costs for our business loans, and you’ll know precisely how much it is that you need to pay and when, starting from the first day. There’s no compounding interest and there are no additional charges (as as long as you pay your payments in time).
We do not charge an application fee. You are able to make an application for loans no cost upfront or the obligation to take action.
The Origination Fee covers the expenses involved with establishing and managing the loan. You are only charged this fee if you choose to proceed with the loan. Our Origination Fee is 2.5 percent of the amount of loan.
You can choose to repay the entire amount of the loan at any point in time.
If you choose to take this route, please call our helpful business credit professionals. They’ll offer you with details for repayment along with an early payout estimate. The figure will be calculated as the total of the remaining principal amount and the accrued interest up to the time of the early payout, plus 1.5 percent of the principal remaining and any outstanding fees.
In order to help you avoid missing payments and to work with your cash flow cycle we provide repayments either weekly or daily. These are automatically deducted from your business account.
Making sure that your information is secure, and being transparent about the ways we gather, use, exchange and secure your information, is vital and an integral part of our relationship with you.
Yes. We make use of industry-standard encryption standards to protect your sensitive, personal financial and other data. Our funders are ISO 27001 qualified for our commitment to customer security and privacy. We make use of an advanced banking verification system to instantly confirm your bank account information online so we can provide a fast response.
Asset-based borrowing occurs when a company owner utilises an asset that they own to secure the loan. The asset can be either an individual asset, such as the family home, or a business asset such as a vehicle or piece of equipment.
The vast majority of the lenders including the largest banks, are inclined to make loans secured by an asset. If you’re struggling to pay back the loan, then the asset could be taken over by the lender. In essence it is an opportunity to secure new financing by using the worth of the asset you already have.
Up to $150K in loans it is not necessary to secure assets in advance to gain access to the funds but we do need the personal guarantee. If you adhere to the loan terms (as stipulated in your loan contract) and you are able to meet your obligations, asset security will never be required. For loans that exceed $150K, generally, there is the option of a personal ensure and security is provided in the form of the charge of assets.
