The requirements for getting an unsecured business loan in Adelaide of between $5K to $100K are quite minimal.
Need more funds? Review the eligibility requirements for our $100K-$500K business loan.
All that’s required to get started is your contact information (company name and your name, as well as email, phone) along with the amount you’d like to borrow, and your monthly income.
Through the process and before settlement we will require confirmation of your identity, but not to get started:
Once we’ve started in the process, for loans that exceed $150,000, you’ll also need fundamental financial statements:
Let’s get started.
Adelaide unsecured loans provides amounts between $5,000 and $100,000. Terms range from 3 and 24 months. They also offer cash flow friendly repayments that are either per day or weekly.
Apply for this Small Business Loan in under 10 minutes online or over the phone. You’ll get a same day response and the funds could be in your account in 24 hours. Traditional company loans have an annual rate of interest plus other fees and charges. Our business loan is an upfront priced loan which means you know in advance the total amount payable including the interest, fees and charges. This is then broken down into a daily or weekly repayment figure.
A Small Business Loan can be used for virtually any business purpose including cash flow management, business improvements, advertising, to purchase inventory or new equipment, to fund general working capital and so 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 business growth opportunities. Loans are between $100,000 and $500,000 with a term fixed that can last up to 36 months. Repayments are either weekly or fortnightly to work with your cash flow.
A Larger Business Loan has an Origination Fee which is calculated at 2.5% of the amount of the loan.
In order to be eligible for a loan in this amount the business needs to be in operation for at least 3 years with an annual turnover of $700K. You must be a New Zealand Citizen (or Permanent Resident) who is over the age of 18 and have a New Zealand company (with a valid NZBN/IRD) and be able to demonstrate at the least 12 months of operating.
A Business Loan of a larger size can be used for almost every business need, including company renovations, to purchase new equipment or inventory or as general working capital and much more. The loan cannot be used to fund personal expenses.
Asset security is required to access funding over $150,000. It is usually in the form of a charge over assets, and could include registration with the PPSR or filing a caveat.
A personal or director’s guarantee is a guarantee to repay credit that is generally based rather than specifying security over a particular asset. The person who is signing the ensure is personally responsible if the company lender is not able to pay back the debt.
The Personal Property Securities Register (PPSR) is an online central register run by the New Zealand Government. It lists security interests that are registered in respect of personal property (including the assets or goods). The PPSR allows preference over private property granted depending on the date that a security interest was registered.
Caveats are legal form of document to provide the public notice of a legal claim against a property.
If you’re applying for the Larger Business Loan of more than $250,000 we can offer an initial pre-approval to ease the process. It is possible to make this decision without a credit check and within 6 hours of the initial application. The pre-approval process is based on a preliminary assessment which includes you answering some financial health checks. It’s not an offer or guarantee of financing. Acceptance without condition is subject to an extensive credit evaluation and any offer you may receive may be on different conditions.
You can apply for an business loan if you:
The process for applying is fast and simple. Just fill out the online application within a couple minutes, and an experienced company loan specialist will be in touch to guide you.
For a loan of up to $100,000 you’ll require ID details (valid Driver’s License) as well as an active NZBN/IRD, and at least six months worth of bank statements.
Otherwise, for larger loan sizes, you’ll need:
$100K – $250K: Application details including credit consent, 6 – 12 months of IRD statements, bank statements (if credit is over $150K).
$250K-$500K: Application details including credit consent twelve months bank statement, an IRD statement and the last two years’ finalised financial statements, and interim current financial year financials including Aged Payables, Aged Receivables Summary.
For an unsecured loan ($5K and up) we can often offer an answer within one hour – as long as you apply in standard business times and let us make use of the advanced bank verification system link to instantly verify your bank details online. If you opt to send us copies of your bank statements , we are able to provide a decision within 1 business day.
For Larger Business Loans ($100K and up) we could be capable of offer you with a conditional pre-approval in about six hours. After you’ve signed the pre-approval, the turnaround time is between 2 and 3 days for the final approval. However, this can be quicker based on the circumstances of each application. Certain transactions have received approval within the space of 24 hours.
The most efficient method would be to ensure you apply during normal business hours and allow us to use our advanced bank verification system link to confirm your bank details online. If you decide to upload duplicates of your banking statements , it will take a little longer.
For the Small Business Loan ($5K up to $100,000) we usually offer an answer within one hour – as long as you apply during normal business hours and allow us to make use of the advanced bank verification system to instantly verify your bank’s information online. If you opt to send us copies of your bank statement, we’ll offer an answer in as little as the span of one business day.
If you are applying for Larger Business Loans ($100K and up) we could be capable of provide the conditional pre-approval in about 6 hours. Once you have signed the 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. Some offers have been approved within the space of 24 hours.
The most efficient method can be ensure you apply during standard business hours, and allow us to use our advance bank verification link to check your bank’s information online. If you decide to send us the copies of bank statements, it takes a bit longer.
We offer loan amounts between $5,000 and $500,000. If you apply for a specific amount we take into consideration a range of elements that determine what is the well-being for your company as well as the amount of repayments your company is able to afford. The total amount of your loan will be contingent on the particular circumstances that are unique to your company.
When you apply for a particular amount, we take into consideration a variety of elements to assess how much we can lend you such as health that is your business and the amount of repayments your business can afford. The amount you receive from your loan will be determined by the particular circumstances of your company.
When you make an application for business loans with us business loan, we will assess the risk profile of your company and offer you with a customised offer, including loan amount, term and the interest rates. A company loan is an upfront priced loan and you’ll be aware of the total amount you will have to pay, including interest rates, fees or charges.
The interest rates on business loans rates depend on several factors including the amount borrowed, the business assets the funds will be used for in addition to the industry that the business operates in, the long the company is in operation and whether the company has sufficient cash flow to pay for the loan, and also the overall well-being or creditworthiness of the company.
There aren’t any hidden charges for our business loans, and you’ll know precisely how much you’ll be required to pay and when, starting from the first day. There’s no compounding interest and no extra fees (as long as you are able to make your payments punctually).
We don’t charge an Application Fee. You are able to make an application for loans absolutely no upfront cost and no the obligation to take action.
The Origination Fee covers the expenses involved with setting up 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 loan.
You may choose to pay back the total amount of your loan at any point in time.
If you do decide to pursue this option, please call our helpful business loan specialists. The specialists will provide you with details on repayment and an early payment figure. This will be calculated as the sum of the principal amount remaining plus any accrued interest as of the time of the early payout in addition to 1.5% of the principal remaining plus any outstanding fees.
To help you avoid missing repayments and to fit in your cash flow schedule, we offer repayments that are either weekly or daily. They will be automatically deducted from your designated company account.
Security of your data, and being upfront about how we collect information, use it, and exchange it, as well as safeguard your data, is of paramount importance and a vital aspect of our relationship with you.
Yes. We employ industry-recognised encryption techniques to protect your sensitive, personal and financial data and our funders are ISO 27001 qualified for our commitment to protecting the security of clients and privacy. We employ a highly sophisticated bank verification system to instantly confirm your bank account information online to offer a fast response.
The term "asset-based" refers to borrowing where a business owner utilises an asset they own to get the loan. The asset can be a personal asset like the family home, or an company property like a truck or piece or equipment.
The majority of lending institutions, even the largest banks, are inclined to secure loans against an asset. If you are having difficulty paying back the loan then the asset might be offered for sale by the lender. In essence it’s the process of securing new financing by using the worth of the asset you already have.
For loans of up to $150,000, no asset security is required before you can access the money, however we require a personal guarantee. require an individual guarantee. If you adhere to the terms of your loan (as stipulated in the loan contract) the security of assets will never be required. If you take out loans in excess of $150,000 generally, there is the option of a personal guarantee and security that is in the form an asset charge.
