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Adelaide Business Loans
Providing Specialist Business Finance

Services in Highgate

  • Unsecured Business Loans Highgate
  • Business Finance Highgate
  • Highgate Business Lending
  • Highgate Business Loan
  • Highgate Small Business Finance
  • Highgate Business Funding
  • Highgate Working Capital
  • Small Business Lending Highgate
  • Highgate Short Term Business Loans

Business Finance Highgate Adelaide 5063 SA

Simple eligibility checklist

Small Business Loan Eligibility Criteria

The requirements for obtaining an unsecured business loan in Adelaide of between $5K and $100K is fairly low.

  • Minimum of 6 months in business
  • A minimum of $6,000 in revenue per month
  • You must be a New Zealand based business with a New Zealand Business Number (NZBN)
  • Passport or Driver’s License for evidence of identity
  • You should have an account with a New Zealand bank as your principal trading account
  • Bank statements from the previous 6 months

Do you require more money? Find out the guidelines for eligibility for our $100K-$500K business loans.

Quick application checklist

What do you need to apply

All that is needed to begin is your contact information (company name, your name, email address or phone number) as well as the amount you want to borrow, and your monthly earnings.

In the course of the process and before settlement we will need confirmation of your identity, however, not in order to begin:

  • Idenfication information (valid Driver’s Licence)
  • Details of the business including time of trading, ownership details and NZBN (New Zealand Business Number)

Additionally after we get started with loans that exceed $150,000, you will also require the following financial statements:

  • Profit & Loss statement
  • Aged payables
  • Aged receivables

Let’s get started.

 

FAQ: business lending & business loans for business owners

Business Loans Frequently Ask Questions

Details of The Adelaide Small Business Loans

Tell me how you can avail the Adelaide Small Business Loans

Adelaide unsecured loans offers the range of $5,000 to $100,000. Terms range from 3 and 24 months, cash flow friendly repayments, which are either daily or weekly.

What makes this Unsecured Loan different from an traditional business loan?

Apply to this Small Business Loan in under 10 minutes over the phone, receive a same day response and the funds could be on your account within 24 hours. Traditional company loans are based on an annual rate of interest together with additional fees and charges. We offer a company loan is an upfront priced loan which means you be aware of the total amount payable including any fees, charges or charges. This is then divided into weekly or daily amount to be paid back.

What can the Small Business Loan be used for?

A Small Business Loan can be used for virtually every business purpose including the management of cash flow, company renovations, marketing for purchasing inventory or new equipment, as general working capital and much more. The loan is not available for personal purposes.

About larger Adelaide Business Loans

What is the Larger Adelaide Business Loan?

The Larger Business Loan is a larger loan size to support business expansion opportunities. Loans range from $100,000 to $500,000 with a fixed-term up to 36 months. The repayments are made weekly or fortnightly, depending on your cash flow.

How is the Origination Fee determined?

It is important to note that the Larger Business Loan has an Origination Fee, which is determined at 2.5% of the amount of the loan.

Do I qualify for the Larger Business Loan?

To qualify for a loan of this size the company needs to have been in operation for at least 3 years and generate an annual revenue of at least $700K. Your company must belong to a New Zealand Citizen (or Permanent Resident) who is over the age of 18, own a New Zealand company (with a valid NZBN/IRD) and be able demonstrate at the least 12 months of operating.

What can I use the funding for?

A Business Loan of a larger size can be used to fund almost any business reason, such as company remodeling, buying new equipment or inventory, as general working capital and much more. The loan cannot be used for personal reasons.

Is the Larger Business Loan a secured loan?

Asset security is required for accessing funds over $150,000. It is usually in the form of a charge over assets, and may include registration in the PPSR or filing as a caveat.

A personal or director’s ensure is a commitment to repay a loan which is generally based rather than specifying security over a particular asset. The person signing the ensure is personally liable in the event that the company lender is not able to re-pay the debt.

The Personal Property Securities Register (PPSR) is an online central registry run by the New Zealand Government. It contains security interests which are registered with respect to personal property (including objects or assets). The PPSR permits prioritisation over property that is personal to be assigned according to the date a security interest that is registered.

Caveats are legal document that is filed to provide notice of a legal claim to a property.

What is a pre-approval that does not require Credit Check?

When you’re applying for a Larger Business Loan of more than $250K, we may offer a preliminary pre-approval to help simplify the process. We may be able to get this done without a credit check, and within 6 hours of your initial application. This pre-approval is made based on an initial evaluation that involves answering a couple of financial well-being checks. It’s not an offer of credit or guarantee of financing. Acceptance without condition is subject to an extensive credit evaluation and any offer you might receive could be subject to different conditions.

Application process

Do I qualify for funds?

You can apply for a company loan if you;

  • are a New Zealand Citizen (or Permanent Resident)
  • are over 18 years, own a New Zealand business (with a valid NZBN/IRD)
  • you must prove at least 6 months’ worth of transactions (for for the unsecured loan $5K – $100K) or three years of trading (for the Larger Business Loan $100K or $500K)

How do I apply?

The process for applying is fast and easy. Just complete the online application in just a few minutes, and a dedicated business expert in lending will be in touch to help you.

To apply for up to $100,000 you’ll need ID details (valid Driver’s Licence) along with a valid NZBN/IRD as well as at least six months of bank statements.

If you’re looking for loans with larger sizes, you’ll also need:

$100K-$250K: Application requirements, including credit consent, 6-12 months of IRD statements, bank statements (if credit is over $150K).
$250K to $500K: Information on the application including credit consent as well as 12 months bank statement, an IRD statement as well as the two most recent years’ financial statements, plus interim financials for the current financial year, Aged Payables and Aged Receivables summary.

What speed will I be able to get an answer?

For an unsecured loan ($5K up to $100,000) we can often provide an answer within one hour – as long as you apply at standard business time and let us utilise the bank verification system to instantly verify your bank details online. If you want to send us copies of your bank statements , we will be able to offer a decision in as little as 1 company day.

For Larger Business Loans ($100K up to $500,000) we may be in a position to offer the conditional pre-approval within about 6 hours. Once you’ve signed the pre-approval form, it will take 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 in the space of 24 hours.

The fastest way would be to ensure you apply during normal company hours. Also, allow us to use our modern bank verification to instantly confirm your bank details online. If you opt to upload documents from your account accounts, it can take a bit longer.

How quickly will I receive the money?

For the Small Business Loan ($5K to $100K) we usually provide an answer within an hour if you make your application at normal business timings and allow us to utilise the advanced bank verification system to instantly verify your bank information online. If you want to upload copies of your bank statement, we’ll provide a decision within an business day.

For the Larger Business Loans ($100K to $500K) we may be able to offer you with pre-approval conditional to your application in around six hours. Once you’ve signed your pre-approval form, it will take around 2-3 days for final approval. However, this could be shorter based upon the circumstances for each application. Certain offers have been approved in just 24 hours.

The most effective method can be ensure you apply during standard business hours, and let us use the advanced bank verification system link to instantly verify your bank account information online. If you send us the copies of bank statement, it takes a bit longer.

What’s the minimum amount I can borrow?

We offer the loan amount between $5,000 to $500,000. When you submit an application for a specific amount we look at a variety of elements to determine how much we can lend you health for your business and the amount of payments your business can support. 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 consider a variety of elements to assess how much we can lend you such as health that is your business and the amount of payments your company can support. The total amount of the loan will be determined by the particulars of your business.

Fees & repayments

What is the cost for a company loan?

If you decide to apply for our company loan, we will assess the risk profile the business and provide you with a tailored proposal that includes the amount of loan, the term and interest rates. This business loan is an upfront cost loan and you’ll know in advance the total amount to be paid, including any charges, interest rates or fees.

What is the basis for the rate I am charged?

The interest rates on company loans rates depend on several factors such as the amount that is that is borrowed, what company assets the funds will be used for as well as the field the company is in, how long the business has been operating for, whether the company has enough cash flow to support the loan, as well as the general health or financial standing of the company.

What are the costs?

There are no hidden fees with our business loans, and you’ll know exactly how much you’ll need to pay and when, starting from the very first day. There’s not any compounding interest and no additional fees (as long as you make your payments on time).

We do not charge an application fee. You are able to request a credit loan with no upfront cost or any obligation to sign up.

The Origination Fee covers the costs associated with the setting up and management of the loan. This is only a cost if you take out the loan. The Origination Fee for us is 2.5 percent of the loan amount.

Can I pay out the loan early?

You can choose to repay all of your loan in full at any time.

If you are deciding to pursue this option, please speak to our friendly company loans professionals. They’ll provide you with repayment details and an early payment figure. It will be calculated using the total of the remaining principal amount plus any accrued interest as of the time of early payout in addition to 1.5 percent of the remaining principal plus any outstanding fees.

How do you make repayments work?

In order to help you avoid missing due dates and also to be in line your cash flow schedule, we provide repayments either weekly or daily. They will be automatically deducted from your designated company account.

Security & privacy

Will my information be secure?

Making sure that your information is secure, and making it clear how we collect, use, exchange and protect your information, is of huge importance and a vital part of our relationship you.

Is it safe to link my bank account to the platform?

Yes. We utilise industry-recognised encryption protocols to safeguard your personal, sensitive as well as financial data. Our funders are ISO 27001 certified for our commitment to the security of our clients as well as their security. We use an advanced bank verification system to immediately verify your bank account details online so we can provide rapid response.

About business loans

What is asset-based borrowing (a secured loan)?

Asset-based borrowing occurs when an company owner makes use of the assets they have to get the funding. The asset could be an individual asset, such as the family home, or it could be a company asset such as a truck or other piece of machinery.

The majority of banks, even the major banks, prefer to make loans secured by an asset. If you are having difficulty paying back the loan, then your asset may be taken over by the lender. In essence it’s the process of securing new funding using the worth of the asset you already have.

Do I need security to get an business loan?

For loans up to $150,000 the requirement for asset security is not required before you are able to access the money However, we do require an individual guarantee. So long as you comply with your loan obligations (as stated in the loan contract) and you are able to meet your obligations, asset security is not needed. For loans of over $150K typically, you will need personal guarantee and security in the form the charge of assets.

Adelaide Business Loans Services

Unsecured Business Loans

Unsecured Business Loans

Eligibility Requirements

Eligibility Requirements

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1300 931 922