The requirements for obtaining an unsecured business loan in Adelaide of between $5K and $100K are pretty minimal.
Looking for more funding? Check out the eligibility requirements for our $100K to $500K company financing.
All that is needed to begin is your contact details (company name and your name, as well as email and telephone) along with the amount you’d like to borrow and your monthly earnings.
During the process and before settlement we’ll need confirmation of who you are but not before we can begin:
After we start, for loans over $150,000 you will also require basic financial statements.
Let’s get started now.
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 per day or weekly.
Apply for this Small Business Loan in under 10 minutes online or by phone. You will receive an immediate response, and the money could be in your account within 24 hours. Traditional business loans are based on an annual interest rate as well as other fees and charges. This company loan is a pre-paid loan therefore you’ll know ahead of time the total amount payable including any interest, fees or charges. This is then broken down into a daily or weekly amount to be paid back.
A Small Business Loan can be used to fulfill almost every company use, including control of cash flow business improvements, advertising, to purchase inventory or new equipment, or as general working capital and much more. The loan cannot be used for personal reasons.
The Larger Business Loan is a larger amount of loan to help company expansion opportunities. Loans are between $100,000 and $500,000 for a fixed period of that can last up to 36 months. The repayments are made weekly or fortnightly, depending on your cash flow.
This Larger Business Loan has an Origination Fee, calculated at 2.5% of the loan amount.
To be eligible for a loan in this amount the company needs to be operating for at least three years and generate an annual revenue of at least $700K. The applicant must also be a New Zealand Citizen (or Permanent Resident) over 18 years, own a New Zealand company (with a valid NZBN/IRD) and be able demonstrate at the least 12 months of operating.
A Larger Business Loan can be used for almost every company need, including company renovations, to purchase new equipment or inventory or as general working capital, and much more. The loan is not available for personal reasons.
Asset security is necessary to access funding over $150,000. This can be done in the form of a charge on assets and can include registering this with the PPSR or registering a caveat.
A director’s or personal ensure is a guarantee to repay credit that is generally in nature rather than specifying the security for a particular asset. The person who signs the guarantee is personally accountable 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 lists security interests that are granted to individuals who own personal property (including objects or assets). The PPSR allows preference over private property assigned depending on the date that a registration of a security interest.
Caveats are legal document that is filed to provide an official notice of a claim to a property.
If you’re seeking an enterprise loan that is greater than $250,000 we may be able to provide an initial pre-approval to make the process. We could be able to do 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 checks. It is in no way an offer, nor is it a guarantee of financing. Unconditional approval is subject to an assessment of your creditworthiness and any offer you are offered could be subject to different conditions.
You may apply for an business loan if you;
The application process is fast and simple. Just complete the online application within a few minutes and a dedicated company credit specialist will be in touch to assist you.
To apply for up to $100,000 you’ll require the right identification documents (valid Driver’s License) along with a valid NZBN/IRD as well as at least six months worth of bank statements.
For larger loan sizes, you’ll also require:
$100K – $250K: Application details including credit consent, 6 – 12 months of bank statements, IRD statement (if credit is over $150K).
$250K to $500K: Details for application including credit consent twelve months of bank statements, IRD statement as well as the two most recent years’ financial statements, and interim financial statements for the current year, Aged Payables and Aged Receivables Summary.
For an unsecured loan ($5K and up) we usually provide an answer within an hour – as long as you apply in standard company hours and permit us to make use of the advanced bank verification system to immediately verify your bank account information online. If you want to send us copies of your bank statement, we’ll offer an answer within the span of one company day.
For the Larger Business Loan ($100K to $500K) we could be capable of offer you with pre-approval conditional to your application in about 6 hours. After you’ve signed your pre-approval form, it will take around 2-3 days for final approval. However, it could be faster based on the circumstances of each application. Certain deals have been approved in the space of 24 hours.
The quickest way to apply for you to apply is make sure you apply during standard business hours and allow us to use our advanced bank verification system link to check your bank’s information online. If you decide to send us documents from your account accounts, it takes a bit longer.
For the Small Business Loan ($5K to $100K) we typically offer an answer in just one hour if you submit your request in normal business timings and let us use the advanced bank verification system link to instantly verify your bank details online. If you want to upload copies of your bank statements, we are able to offer a decision in just 1 business day.
If you are applying for Larger Business Loans ($100K up to $500,000) we could be in a position to provide the conditional pre-approval within about 6 hours. Once you have signed the pre-approval form, it will take approximately 2-3 days to receive final approval. However, this may be quicker depending on the circumstances of each application. Certain transactions have received approval within the space of 24 hours.
The quickest method for you to apply is ensure you apply during standard business hours. You can also allow us to use the advance bank verification to check your bank’s information online. If you upload the copies of bank statements it can take a bit longer.
We offer loans that range from $5,000 to $500,000. If you apply for a particular amount, we will consider a number of variables that determine the health for your business as well as the amount of payments your business will be able to support. The total amount of your loan will be contingent on the specifics for your company.
When you submit an application for a specific amount we look at a range of factors to assess your well-being of your business and the amount of the repayments your business can support. The total amount of your loan will depend on the specifics the business.
When you apply for our business loan, we will assess the risk profile the company and provide you with a customised offer, including the amount of the loan, the duration and the interest rates. The business loan is a loan that is priced upfront so you will be aware in advance of the total amount due, which includes any costs, fees, or interest rates.
Interest rates for business loans rates vary due to factors like the amount of money borrowed, what company assets the money are used to purchase as well as the field the company operates in, how long the business has been operating, whether the company has enough cash flow to fund the loan, and also the general health or financial standing of the business.
There are no hidden costs with our business loans, and you’ll be aware of the amount it is that you be required to pay and when, from day one. There’s no compounding and there are no additional charges (as long as you are able to make your payments on time).
We do not charge an Application Fee. You are able to apply for a loan with no cost upfront or commitment to apply.
The Origination Fee covers the costs associated in establishing and managing the loan. It is only charged for this fee if you proceed with the loan. Our Origination Fee is 2.5% of the amount of the loan.
You may choose to pay back all of your loan in full at any time.
If you do decide to pursue this option, please speak to our friendly business loan specialists. The specialists will offer you with details for repayment and an early payment figure. The figure will be calculated as the sum of the remaining principal amount and any accrued interest at the time of early payout and 1.5% of the principal remaining plus any outstanding fees.
In order to help you avoid missing payments and to work your cash flow schedule, we offer repayments either daily or weekly. These are automatically deducted from the nominated business account.
Protecting your information, and being upfront about the ways we gather the information we collect, use, share and secure your information, is of paramount importance and an integral element of our relationship with you.
Yes. We employ industry-recognised encryption protocols to safeguard your personal, sensitive and financial data and our funders are ISO 27001 qualified for our commitment to the security of our clients as well as their security. We utilise a sophisticated bank verification system that allows you to instantly confirm your bank account information online. This allows us to provide a fast response.
An asset-based loan is when a company owner utilises assets they own to secure the funding. The asset could be a personal asset like the family home, or it could be a business property like a truck or piece of equipment.
The majority of banks, not just the major banks, prefer to guarantee loans against assets. If you have trouble paying back the loan, then your asset may be transferred to the lender. In essence it is the process of securing new financing by taking advantage of the value of what you already own.
For loans up to $150K it is not necessary to secure assets upfront to access the money However, we do require the personal guarantee. As long as you follow your loan commitments (as stipulated in the loan contract) Asset security will never be required. For loans over $150K generally, you are able to get the option of a personal ensure and security is provided in the form of the charge of assets.
