The requirements for obtaining an unsecured business loan in Adelaide of between $5K and $100K is fairly low.
Are you looking for additional funding? Check out the guidelines for eligibility for our $100K to $500K business loans.
All that’s needed for starting is your contact information (company name, your name, email address and phone) and the amount you’d like to borrow, as well as your monthly income.
While in the process and before settlement we’ll need confirmation of who you are, but not before we can begin:
After we start, for loans over $150,000 you will also need fundamental financial statements:
Let’s get started.
Adelaide unsecured loans provides amounts of between $5,000 and $100,000 with terms between 3 and 24 months, cash flow-friendly repayments that are either per day or weekly.
You can apply for this Small Business Loan in under 10 minutes online or over the phone. You’ll get an instant response and the money could be available in just 24 hours. Traditional company loans are based on an annual interest rate together with additional fees and charges. Our company loan is an upfront priced loan and you’ll be aware of the total amount payable including any interest, fees or charges. This is then broken down into a daily or weekly payment amount.
It is a Small Business Loan can be used to fulfill almost every company purpose including managing cash flows, company renovations, marketing, to purchase inventory or new equipment, or as general working capital, and much more. The loan is not available for personal use.
The Larger Business Loan is a larger size of loan that can be used to fund company growth opportunities. Loans are between $100,000 and $500,000 for a fixed period of for up to 36 months. The repayments are made weekly or fortnightly in order to accommodate you cashflow.
A Larger Business Loan has an Origination Fee which is calculated at 2.5 percentage of the loan amount.
To qualify for a loan of this size, your business needs to have been operating for at least three years, and have an annual income of $700K. It is necessary to be a New Zealand Citizen (or Permanent Resident) with a minimum age of 18 years old as well as own a New Zealand company (with a valid NZBN/IRD) and be able to demonstrate at minimum 12 months of business.
A larger company loan can be used to fund almost every company need, including business renovations, to purchase new equipment or inventory for general working capital, and much more. The loan cannot be used for personal purposes.
Asset security is needed for funding of more than $150,000. This can be done as a result of an charge against assets, which could also include registration in the PPSR or making as a caveat.
A director’s or personal guarantee is a guarantee to repay credit that is general in nature, rather than defining the security of a specific asset. The person who signs the guarantee is personally liable in the event that the business borrower is unable to re-pay the debt.
The Personal Property Securities Register (PPSR) is a central, national online register run by the New Zealand Government. It contains security interests that are registered for personal property (including items or assets). The PPSR grants the priority of personal property assigned depending on the date that a registration of a security interest.
A caveat is a legal document lodged to offer the public notice of a legal claim on a property.
If you’re seeking larger business loans of more than $250K it’s possible to offer an initial pre-approval to smooth out the process. We could be able to make this decision without credit checks and within 6 hours of the initial application. The pre-approval process is based on a preliminary assessment which includes answering a couple of financial well-being questions. It is neither an offer nor a guarantee of finance. The approval of a conditional loan is subject to an extensive credit evaluation and any offer you are offered could be subject to different conditions.
You may be eligible for a business loan if you;
The application process is fast and easy. Just complete the online application in just a few minutes, and an experienced business loan specialist will be in touch to help you.
To apply for up to $100,000, you’ll need ID details (valid Driver’s Licence), an active NZBN/IRD, and at least 6 months’ worth of bank statements.
In addition, for larger loan sizes, you’ll also require:
$100K-$250K: Application details including credit consent, 6 – 12 months of IRD statements, bank statements (if credit is over $150K).
$250K-$500K: Details of the application, including credit consent twelve month bank accounts, the IRD statements, last 2 years finalised financial statements, plus interim financials for the current financial year, Aged Payables and Aged Receivables Summary.
For an unsecured loan ($5K and up) we usually offer an answer within an hour – as long as you make your application in quality company times and let us utilise the bank verification system to immediately verify your bank account information online. If you opt to submit copies of your bank statements we can provide an answer in as little as an company day.
For the Larger Business Loan ($100K up to $500,000) we may be capable of provide you with a conditional pre-approval in around six hours. Once you’ve signed the pre-approval document, you will need to wait approximately 2-3 days to receive final approval, however it could be faster based upon the circumstances for each application. Some offers have been approved within just 24 hours.
The most effective method for you to apply is make sure you apply during standard company hours. Also, let us use the advance bank verification link to instantly check your bank’s information online. If you choose to send us duplicates of your banking statements it can take a bit longer.
For the Small Business Loan ($5K up to $100,000) we can often offer an answer within an hour, provided you make your application during standard business timings and permit us to utilise the advanced bank verification system link to immediately verify your bank account information online. If you decide to send us 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 Larger Business Loans ($100K or more) we may be in a position to offer you with conditional pre-approval within 6 hours. Once you have signed the pre-approval, the turnaround time is around 2-3 days for final approval. However, this could be shorter based on the circumstances of each application. Certain deals have been approved in less than 24 hours.
The fastest method can be ensure you apply during normal business hours. Also, allow us to use our sophisticated bank verification link to verify your bank information online. If you opt to upload the copies of bank statement, it takes a bit longer.
We offer loans that range from $5,000 and $500,000. If you apply for a particular amount, we consider a variety of factors in order to assess the well-being for your company and the extent of repayments your company is able to afford. The total amount of your loan will be contingent on the specific circumstances the company.
When you make an application for a certain amount, we take into consideration a variety of factors to assess your health that is your company as well as the amount of payments your company can support. The total amount of your loan will be contingent on the specifics that are unique to your business.
If you decide to make an application for our business loans, we will assess the risk profile of your company and provide an individualised offer including the amount of loan, the term and interest rates. This company loan is an upfront-priced loan so you will be aware of the total amount due, which includes any charges or interest.
Interest rates for company loans rates differ based on various factors such as the amount that is of money borrowed, the business assets the funds will be used for and the sector the company operates in, the long the company has been running, what percentage of the business has enough cash flow to fund the loan, and the general health or creditworthiness of the business.
There aren’t any hidden charges for our company loans, and you’ll know precisely how much it is that you need to pay and when, right from the day you sign up. There’s no compounding and there are no additional charges (as long as you are able to make your payments on time).
We don’t charge an Application Fee. You are able to make an application for loans no cost upfront or commitment to apply.
The Origination Fee includes the expenses associated with establishing and managing the loan. The only way to pay this cost if you take out the loan. Our Origination Fee is 2.5% of the loan amount.
You can decide to repay the entire amount of the loan in full at any time.
If you choose to do this please talk to one of our helpful business loan professionals. The professionals will provide you with details on repayment and an early payment figure. This will be calculated as the total of the principal remaining and the accrued interest up to the time of early payment plus 1.5% of the principal balance plus any outstanding fees.
In order to help you avoid missing due dates and also to be in line with your cash flow standard, we provide repayments either weekly or daily. They are automatically deducted from your designated business account.
The security of your personal information, as well as knowing the ways we gather data, process, exchange and safeguard your data, is crucial and a vital element of our relationship with you.
Yes. We make use of industry-standard encryption protocols to safeguard your personal, sensitive financial and other data. Our funders are ISO 27001 qualified for our dedication to the security of our customers as well as their security. We employ a highly sophisticated bank verification system to immediately verify your bank account details online, allowing us to offer an immediate response.
The term "asset-based" refers to borrowing where the company owner borrows from assets they own to secure a loan. The asset can be an individual property, such as the family home or it could be a company property like a truck or other piece of machinery.
The vast majority of the lenders including the big banks, tend to guarantee loans against an asset. If you’re having trouble paying back the loan, your asset may be taken over by the lender. In essence it is an opportunity to secure additional financing making use of the value of what you already have.
For loans up to $150K it is not necessary to secure assets in advance to gain access to the funds however, we do require an individual guarantee. In the event that you fulfill the loan terms (as stated in your loan contract document) Asset security is not needed. For loans over $150,000 generally, you can get an individual ensure and security that is in the form the charge of assets.
