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Adelaide Business Loans
Providing Specialist Business Finance

Services in Mawson Lakes

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

Business Finance Mawson Lakes Adelaide 5095 SA

Simple eligibility checklist

Small Business Loan Eligibility Criteria

The requirements for obtaining an unsecured business loan in Adelaide of between $5K and $100K are pretty minimal.

  • Minimum of 6 months in business
  • A minimum of $6,000 in revenue per month
  • Be a New Zealand based business with a New Zealand Business Number (NZBN)
  • Drivers Licence or Passport for evidence of identity
  • Use a New Zealand bank as your principal trading account
  • Bank statements for the last 6 months

Looking for more funding? Review the eligibility requirements for our $100K to $500K business credit.

Quick application checklist

What do you need to apply

All that’s needed for starting is your contact information (the name of your company, your name, email and phone), how much you want to borrow, and your monthly earnings.

During the process and before settlement we’ll require confirmation of who you are, but not before we can begin:

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

Once we’ve started when it comes to loans of more than $150,000 you will also need fundamental financial statements:

  • P&L statement
  • Aged payables
  • Aged receivables

Let’s get started now.

 

FAQ: business lending & business loans for business owners

Business Loans Frequently Ask Questions

Details of The Adelaide Small Business Loans

Tell me what you think of the Adelaide Small Business Loans

Adelaide unsecured loans provides amounts between $5,000 and $100,000 with terms between 3 and 24 month and cash flow-friendly repayments that are either daily or weekly.

What makes what makes the Unsecured Loan different from an traditional company loan?

It is possible to apply to get this Small Business Loan in under 10 minutes by phone. You will receive an immediate response, and have the funds on your account within 24 hours. Traditional business loans are based on an annual interest rate along with other charges and fees. This business loan is a loan that is priced upfront therefore you’ll know in advance the total amount payable including any interest, fees or charges. This is then broken down into weekly or daily amount to be paid back.

What could you use the Small Business Loan be used for?

The Small Business Loan can be used for almost any company use, including control of cash flow business improvements, advertising for purchasing inventory or new equipment, for general working capital, and much more. The loan is not available to fund personal expenses.

About the Larger Adelaide Business Loans

What is the Larger Adelaide Business Loan?

The Larger Business Loan is a larger size of loan that can be used to fund business growth opportunities. Loans range between $100,000 and $500,000 with a fixed-term for up to 36 months. Repayments are weekly or fortnightly depending on the flow of cash.

How’s the Origination Fee determined?

The Larger Business Loan has an Origination Fee that is determined at 2.5% of the amount of the loan.

Do I qualify for the Larger Business Loan?

To be eligible for a credit in this amount, your business needs to have been trading for at least 3 years and have an annual turnover of $700K. It is necessary to be a New Zealand Citizen (or Permanent Resident) who is over the age of 18 or have a New Zealand business (with a valid NZBN/IRD) and be able demonstrate at minimum 12 months of business.

How can the funding be utilised?

A Larger Business Loan is a great option for almost any company purpose including company renovations, purchase of equipment or inventory as well as for general working capital, and much more. The loan is not available to fund personal expenses.

Is the Larger Business Loan a secured loan?

Asset security is required for accessing funds over $150,000. It’s by taking a charge against assets, which could also include registering this in the PPSR or filing a caveat.

A personal or director’s ensure is a guarantee to repay a loan which is generally based rather than stipulating the security of a specific asset. The person who signs the guarantee is personally liable if the business creditor is unable to re-pay the debt.

The Personal Property Securities Register (PPSR) is an online central register operated by the New Zealand Government. It records security interests that have been granted to individuals who own personal property (including items or assets). The PPSR permits preference over private property assigned according to the date a security interest was registered.

An affidavit is an official form of document to offer notice of a legal claim against a property.

What exactly is a preapproval without Credit Check?

If you’re requesting an enterprise loan that is greater than $250,000, we may offer an initial pre-approval in order to simplify the process. We may be able to make this decision without a credit check and within six hours of your initial application. This pre-approval is made based on a preliminary assessment which includes you answering some financial well-being checks. This is not an offer of credit or guarantee of finance. The approval of a conditional loan is subject to an extensive credit evaluation and any offer you receive could have different terms.

The application process

Can I be eligible for funding?

You may apply for an business 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 trade (for for the unsecured loan $5K – $100K) or 3 years of continuous trading (for the Larger Business Loan $100K - $500K)

How do I apply?

The application process is quick and simple. Simply complete the online form in few minutes and a dedicated company lending specialist will call you to help you.

To apply for up $100,000 you’ll require proof of identity (valid Driver’s License) as well as a valid NZBN/IRD as well as at least six months worth of bank statements.

For larger loan sizes, you’ll require:

$100K to $250K: Details of application, including credit approval, 6-12 months of bank statements, IRD statement (if credit is over $150K).
$250K-$500K: Details of the application, including credit consent as well as 12 months of bank records, IRD statement and the last two years’ finalised financial statements, as well as interim financials from the current financial year including Aged Payables, Aged Receivables summaries.

How quickly will I receive a decision?

For an unsecured loan ($5K or more) We can usually offer an answer within an hour if you submit your request during standard company timings and you allow us to make use of the advanced bank verification system link to immediately verify your bank account information online. If you opt to upload copies of your banking statements we can offer a decision within 1 business day.

If you are applying for a Larger Business Loan ($100K up to $500,000) we might be able to provide you with conditional pre-approval in around six hours. Once you’ve signed the pre-approval form, it will take between 2 and 3 days for the final approval, however this can be quicker based on the specifics of each application. Some transactions have received approval within the space of 24 hours.

The fastest way can be ensure you apply during standard business hours, and let us use the modern bank verification to verify your bank information online. If you opt to upload duplicates of your banking statement, it will take a little longer.

How soon will I receive the money?

For the Small Business Loan ($5K or more) we usually offer a response in one hour – as long as you submit your request during normal business times and let us use the advanced bank verification system to instantly verify your bank details online. If you want to submit copies of your bank statements, we are able to provide an answer in just one business day.

For Larger Business Loans ($100K up to $500,000) we might be in a position to provide you with conditional pre-approval in around 6 hours. Once you have signed the pre-approval, turnaround times are between 2 and 3 days for the final approval, however this may be quicker depending on the circumstances of each application. Certain transactions have received approval in the space of 24 hours.

The fastest method is to make sure you apply during normal business hours, and let us use the advanced bank verification system to instantly verify your bank account information online. If you choose to send us the copies of bank statements it takes a bit longer.

What’s the minimum amount I can borrow?

We offer loan amounts between $5,000 to $500,000. When you make an application for a specific amount we consider a variety of elements to determine the health of your company and the amount of repayments that your business can afford. The total amount of the loan will be determined by the specific circumstances for your business.

When you make an application for a certain amount, we take into consideration a variety of variables to assess your health of the company and the amount of repayments your business can afford. The amount you receive from the loan will be determined by the specific circumstances for your business.

Fees & repayments

What is the cost for an business loan?

If you decide to make an application for the company credit, we will assess the risk profile the company and provide you with a customised offer that includes the loan amount, the terms and the interest rates. A business loan is a loan that is priced upfront and you’ll be aware of the total amount to be paid, including any charges or interest.

What is the basis for the rate I will be charged?

Interest rates for business loans rates differ based on various factors such as the amount that is that is borrowed, what business assets the money are used to purchase, the industry the business is in, how long the company has been running, in the event that the business has sufficient cash flow to support the loan, and the overall health or creditworthiness of the company.

What are the cost?

There aren’t any hidden charges for our business loans. You’ll be aware of the amount it is that you need to pay and when, from the 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 apply for a loan with absolutely no upfront cost and no any obligation to sign up.

The Origination Fee covers the expenses involved 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 percent of the amount of the loan.

Can I pay out the loan early?

You can repay the entire amount of the advance loan at any time.

If you are deciding to do this please contact our helpful business credit specialists. They will provide you with details for repayment along with an early payout estimate. This is calculated as the sum of the remaining principal amount plus any accrued interest as of the time of early payment in addition to 1.5% of the principal amount remaining as well as any outstanding fees.

How do you make repayments work?

To help you avoid missing payments and to work with your cash flow cycle we offer repayments that are either daily or weekly. These are automatically deducted from your designated company account.

Security & privacy

Will my information be protected?

Protecting your information, and being clear about how we collect the information we collect, use, share and secure your information, is crucial and an integral aspect of our relationship with you.

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

Yes. We employ industry-recognised encryption standards to secure your personal, sensitive as well as financial data. Our funders are ISO 27001 certified for our dedication to the security of our customers as well as their security. We use an advanced bank verification system link to instantly confirm your bank account information online. This allows us to offer an immediate response.

About business loans

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

The term "asset-based" refers to borrowing where a company owner makes use of an asset they own to make the loan. The asset may be an asset belonging to the personal, like the family home, or it could be a company asset such as a truck or other piece of machinery.

The majority of lenders, including the major banks, prefer to secure loans against assets. If you’re struggling to pay back the loan, your assets could be offered for sale by the lender. In essence, it’s the process of securing new financing by taking advantage of the value of what you already own.

Do I require security to get an business loan?

For loans of up to $150K, the requirement for asset security is not required upfront to access the money However, we do need the personal guarantee. As long as you follow your loan obligations (as stipulated in the loan contract) and you are able to meet your obligations, asset security will never be needed. For loans that exceed $150,000, generally, you can get the option of a personal guarantee and security is provided in the form of a charge over assets.

Adelaide Business Loans Services

Unsecured Business Loans

Unsecured Business Loans

Eligibility Requirements

Eligibility Requirements

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Contact Us

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1300 931 922