The requirements for obtaining an unsecured business loan in Adelaide of between $5K and $100K are fairly minimal.
Do you need more money? Check out the guidelines for eligibility for our $100K-$500K business loan.
All you need to get started is your contact details (company name, your name, email or phone number), how much you’d like to lend, and your monthly income.
Through the process and before settlement we’ll need confirmation of who you are but not to get started:
Once we’ve started with loans greater than $150,000 you’ll need basic financial statements:
Let’s get started.
Adelaide unsecured loans offers amounts of between $5,000 and $100,000. Terms range from 3 and 24 months, cash flow-friendly repayments that are either daily or weekly.
It is possible to apply for this Small Business Loan in under 10 minutes on the phone. You’ll receive an immediate response, and have the funds available in just 24 hours. Traditional company loans are based on an annual interest rate plus other fees and charges. The business loan is a loan that is priced upfront and you’ll know ahead of time the total amount to be paid, including any fees, interest or charges. This is then broken down into weekly or daily amount to be paid back.
The Small Business Loan can be used for nearly every company reason, such as cash flow management, business improvements, advertising for purchasing inventory or new equipment, as general working capital and so much more. The loan cannot be used for personal purposes.
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 for up to 36 months. Repayments are weekly or fortnightly to work with the flow of cash.
A Larger Business Loan has an Origination Fee that is determined at 2.5% of the loan amount.
To be eligible for a credit that is this large the company needs to be operating for a minimum of 3 years and have an annual turnover of at least $700K. You must be a New Zealand Citizen (or Permanent Resident) who is over the age of 18 as well as own a New Zealand business (with a valid NZBN/IRD) and be able of proving at minimum 12 months of continuous trading.
A larger business loan can be used to fund almost every company use, including company renovations, purchase of equipment or inventory as well as for general working capital and so much more. The loan cannot be used for personal reasons.
Asset security is required for accessing funds over $150,000. It’s by taking a charge on assets, which could also include the registration of this with the PPSR or registering a caveat.
A director’s or personal guarantee is a commitment to pay off a credit line that is generally in nature rather than specifying the security of a specific asset. The person who is signing the ensure is personally liable if the company borrower is unable to re-pay the debt.
The Personal Property Securities Register (PPSR) is an online, central registry run by the New Zealand Government. It lists security interests that are that are registered for personal property (including goods or assets). The PPSR allows preference over private property granted according to the date the security interest has been registered.
An affidavit is an official document lodged to provide the public notice of a legal claim against a property.
When you’re applying for a Larger Business Loan that exceeds $250,000 we may be able to provide an initial pre-approval in order to smooth out the process. We could be able to make this decision without a credit check, and within 6 hours of the initial application. This pre-approval is made based on an initial assessment that includes the answer to a series of financial health checks. It’s not an offer or guarantee of credit. Acceptance without condition is subject to an assessment of your creditworthiness and any offer you receive could be subject to different terms.
You may be eligible for an business loan if you
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 assist you.
To apply for up to $100,000, you’ll require proof of identity (valid Driver’s Licence) along with an active NZBN/IRD, and at least 6 months’ worth of bank statements.
In addition, for larger loan sizes, you’ll also need:
$100K-$250K: Details of application, including credit approval, 6-12 months of IRD statements, bank statements (if you have a loan of more than $150K).
$250K-$500K: Details for application including credit consent twelve months of bank records, IRD statement as well as the two most recent years’ financial statements, as well as interim financials for the current financial year such as age-related payables and aged Receivables summaries.
For an unsecured loan ($5K and up) we typically offer an answer in just one hour – as long as you make your application within quality company time and allow us to make use of the advanced bank verification system to instantly verify your bank details online. If you choose to upload copies of your bank statements we can offer the decision within just 1 business day.
For the Larger Business Loan ($100K and up) we may be able to provide the conditional pre-approval within six 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 specifics of each application. Some agreements have been approved within less than 24 hours.
The quickest way to apply can be ensure you apply during standard company hours. You can also let us use the modern bank verification link to verify your bank account information online. If you opt to send us documents from your account statements it can take a bit longer.
For the Small Business Loan ($5K or more) we usually provide an answer within an hour – provided you submit your request within normal business time and allow us to utilise the advanced bank verification system link to instantly verify your bank details online. If you opt to submit copies of your bank statements, we are able to provide a decision within 1 business day.
If you are applying for Larger Business Loans ($100K or more) we might be able to offer you with conditional pre-approval in about 6 hours. Once you’ve signed the pre-approval, turnaround times are about 2-3 days for final approval. However, this can be faster depending on the circumstances of each application. Certain transactions have received approval in just 24 hours.
The fastest way can be make sure you apply during standard business hours. You can also allow us to use the advance bank verification link to verify your bank account information online. If you opt to upload copies of your bank statement, it takes a bit longer.
We provide loan amounts between $5,000 to $500,000. If you apply for a certain amount we consider a variety of factors that determine your well-being that is your company and the extent of the repayments your company can support. The total amount of the loan will be determined by the specifics for your company.
When you apply for a specific amount we will consider a number of factors to determine your health of your company and the level of payments your business can support. The amount you receive from the loan will be determined by the particulars of your company.
When you make an application for our company financing, we’ll assess the risk profile the business and provide you with a customised offer, including the amount of the loan, the duration and the interest rates. This business loan is an upfront priced loan which means you know in advance the total amount you will have to pay, including interest rates, fees or charges.
Business loan interest rates differ based on various factors including the amount of money borrowed, the company assets the money will be used for in addition to the industry that the company is operating in, how long the company has been running as well as in the event that the business has enough cash flow to cover the loan, as well as the general health or creditworthiness of the business.
There aren’t any hidden charges for our business loans. You’ll know precisely how much it is that you need to pay, and at what time, from the very first day. There’s no compounding interest, and no extra fees (as long as you are able to make your payments in time).
We don’t charge an Application Fee. You are able to apply for a loan with without any upfront costs or any obligation to sign up.
The Origination Fee includes the expenses associated with establishing and managing the loan. It is only charged for this cost if you take out the loan. Our Origination Fee is 2.5% of the amount of the loan.
You can choose to repay the total amount of your advance loan at any time.
If you are deciding to pursue this option, please speak to our friendly company lending professionals. They’ll offer you with details on repayment and an early payment figure. This will be calculated as the sum of the principal balance and the accrued interest up to the time of the early payout and 1.5 percent of the principal remaining plus any outstanding fees.
In order to help you avoid missing repayments and to fit in your cash flow cycle we offer repayments that are either weekly or daily. These are automatically withdrawn from your designated business account.
Security of your data, and knowing the ways we gather information, use it, and exchange it, as well as ensure the security of your information is crucial and is an essential element of our relationship with you.
Yes. We utilise industry-recognised encryption protocols to safeguard your sensitive, personal financial and other data. Our funders are ISO 27001 qualified for our dedication to security for our customers and privacy. We use an advanced banking verification system to instantly verify your bank account information online so we can offer a fast response.
The term "asset-based" refers to borrowing where an business owner uses assets they own to make the funds for a loan. The asset can be either an asset belonging to the personal, like the family home or a company asset like a truck or piece or equipment.
The vast majority of lending institutions, even the largest banks, are inclined to make loans secured by an asset. If you’re having trouble paying back the loan, the asset could be sold by the lender. In essence, it is the process of securing new financing making use of the value of what you already have.
For loans up to $150,000 it is not necessary to secure assets in advance to gain access to the funds, however we require a personal guarantee. require an individual guarantee. So long as you comply with your loan obligations (as stipulated in your loan contract), asset security will never be needed. If you take out loans in excess of $150,000 typically, you will need personal ensure and security that is in the form charges on assets.
