The criteria for eligibility for an unsecured business loan in Adelaide of between $5K and $100K is fairly low.
Are you looking for additional funding? Check out the conditions of eligibility for our $100K-$500K business financing.
All you need to start is your contact information (the name of your company, your name, email and phone) and the amount you’d like to borrow and your monthly revenue.
In the course of the process and before settlement we’ll require confirmation of who you are, but not to get started:
After we start with loans of more than $150,000 you’ll also need basic financial statements.
Let’s get started.
Adelaide unsecured loans provides amounts of between $5,000 and $100,000, with terms ranging from 3 and 24 months and cash flow friendly repayments which can be made daily or weekly.
Apply for the Small Business Loan in under 10 minutes online or by phone. You will receive an immediate response, and funds may be in your account in 24 hours. Traditional business loans reference an annual interest rate as well as other fees and charges. We offer a company loan is an upfront priced loan and you’ll be aware in advance of the total amount due, which includes any fees, charges or charges. This is then divided into weekly or daily installment amount.
A Small Business Loan can be used for almost any company reason, such as cash flow management, company remodels and marketing to purchase inventory, new equipment, to fund general working capital and so much more. The loan cannot be used for personal reasons.
The Larger Business Loan is a larger amount of loan to help business growth opportunities. The loan ranges from $100,000 to $500,000 over a fixed term with a maximum of 36 months. Repayments are weekly or fortnightly to work with your cash flow.
This Larger Business Loan has an Origination Fee which is calculated at 2.5 percent of the amount of the loan.
To qualify for a loan of this size the company needs to have been in operation for at least 3 years and have an annual turnover of $700,000. Your company must belong to a New Zealand Citizen (or Permanent Resident) over 18 years and have a New Zealand company (with a valid NZBN/IRD) and be able of proving at least 12 months of trading.
A Larger Business Loan can be used to fund almost all business reason, such as business improvements, purchasing new equipment or inventory as well as for general working capital and so much more. The loan is not available to fund personal expenses.
Asset security is needed for accessing funds over $150,000. It’s as a result of an charge over assets, and could include registration through the PPSR or filing as a caveat.
A director’s or personal guarantee is a commitment to repay a loan which is generally in nature rather than stipulating security over a particular asset. The person signing the guarantee is personally liable if the company the borrower fails to repay the debt.
The Personal Property Securities Register (PPSR) is an online, central registry run by the New Zealand Government. It reflects security interests granted to individuals who own personal property (including the assets or goods). The PPSR allows priority over personal property to be granted according to the date the security interest that is registered.
A caveat is a legal document filed to provide notice of a legal claim to a property.
If you’re requesting a Larger Business Loan that is greater than $250K we may be able to provide a preliminary pre-approval to help simplify the process. We might be able to apply for this without a credit check and within 6 hours of the initial application. This pre-approval is made based on an initial assessment, which involves the answer to a series of financial well-being questions. It is not an offer of credit or guarantee of credit. The approval of a conditional loan is subject to an exhaustive credit evaluation, and any offer you might receive could be based on different conditions.
You are eligible to apply for a company loan if you:
The application process is simple and simple. Simply complete the online form in just a few minutes, and a dedicated company lending specialist will be in touch to guide you through the process.
To apply for up to $100,000, you’ll need ID details (valid Driver’s License) as well as an active NZBN/IRD, and at least six months worth of bank statements.
If you’re looking for loans with larger sizes, you’ll also require:
$100K-$250K: Information about the application including credit consent, 6-12 months of bank statements, IRD statement (if loan above $150K).
$250K – $500K: Information on the application including credit consent as well as 12 months of bank records, IRD statements Last 2 years’ finalised financial statements, and interim financials from the current financial year, Aged Payables and Aged Receivables reports.
For an unsecured loan ($5K up to $100,000) we can often offer a response in one hour, provided you apply at standard company timings and you allow us to make use of the advanced bank verification system to instantly verify your bank’s information online. If you decide to send us copies of your bank statements we can provide a decision within 1 business day.
For the Larger Business Loan ($100K to $500K) we may be in a position to offer you with conditional pre-approval within 6 hours. Once you have signed the pre-approval, turnaround times are approximately 2-3 days to receive final approval. However, this could be shorter based on the circumstances of each application. Some transactions have received approval within just 24 hours.
The fastest way would be to ensure you apply during normal company hours. Also, allow us to use our advanced bank verification system link to confirm your bank details online. If you decide to send us copies of your bank accounts, it will take a little longer.
For the Small Business Loan ($5K and up) we usually offer an answer in just one hour – provided you apply at normal business times and you allow us to utilise the advanced bank verification system link to instantly verify your bank details online. If you opt to upload copies of your bank statements we can offer the decision in just one business day.
For Larger Business Loans ($100K to $500K) we might be likely to provide you with pre-approval conditional to your application within 6 hours. After you’ve signed the pre-approval document, you will require to wait approximately 2-3 days to receive final approval, however this could be shorter based on the particular circumstances of each application. Certain deals have been approved in just 24 hours.
The fastest method would be to ensure you apply during standard business hours. Also, allow us to use the modern bank verification link to instantly verify your bank account information online. If you choose to upload duplicates of your banking statement, it takes a bit longer.
We provide the loan amount between $5,000 and $500,000. If you apply for a specific amount we will consider a number of variables to determine the health of your company and the extent of the repayments your business is able to afford. The amount you receive from your loan will depend on the specific circumstances that are unique to your company.
When you apply for a particular amount, we look at a range of variables to determine the well-being of your business and the level of repayments that your business is able to afford. The total amount of the loan will be determined by the specifics that are unique to your business.
If you decide to make an application for the business financing, we will assess the risk profile that you have for your company and offer an individualised offer including the loan amount, the terms and interest rates. A business loan is a loan that is priced upfront therefore you will be aware of the total amount payable including any interest rates, fees or charges.
Business loan interest rates depend on a variety of factors including the amount borrowed, what company assets the funds will be used for, the industry the company is operating in, how long the company has been operating and how long the company has sufficient cash flow to fund the loan, and general health as well as creditworthiness company.
There are no hidden fees with our company loans, and you’ll be aware of the amount you’ll be required to pay and when, starting from the very first day. There’s no compounding and no extra fees (as long as you are able to make your payments in time).
We do not charge an Application Fee. You can apply for a loan with without any upfront costs or commitment to apply.
The Origination Fee is the cost associated in 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% of the amount of the loan.
You can repay the total amount of your loan early at any time.
If you choose to pursue this option, please contact our helpful business lending experts. The professionals will provide you with repayment details along with an early payout estimate. The figure will be calculated as the total of the principal remaining and accrued interest to the date of early payout in addition to 1.5% of the principal balance and any outstanding fees.
To make sure that you don’t miss payments and to work your cash flow cycle we provide payments that are either weekly or daily. They will be automatically deducted from the nominated business account.
Making sure that your information is secure, and making it clear how we collect information, use it, and exchange it, as well as protect your information, is crucial and is an essential part of our relationship you.
Yes. We use industry recognised encryption standards to protect your personal, sensitive as well as financial data. Our funders are ISO 27001 qualified for our commitment to the security of our customers as well as their security. We utilise a sophisticated bank verification system to immediately verify the bank account details online. This allows us to offer quick responses.
An asset-based loan is when an company owner borrows from the assets they have to make the loan. The asset can be an individual property, such as the family home or an company asset such as a vehicle or piece or equipment.
The majority of lending institutions, including the banks with the biggest size, prefer to guarantee loans against assets. If you’re struggling to pay back the loan, the asset might be sold by the lender. In essence, it’s a way of securing new financing by taking advantage of the value of what you already have.
For loans that exceed $150,000, there is no requirement for asset security upfront to access the money However, we do require a personal guarantee. So long as you comply with your loan commitments (as stipulated in the loan contract), asset security is not required. For loans over $150K generally, you can get the option of a personal ensure and security that is in the form the charge of assets.
