The requirements for obtaining an unsecured business loan in Adelaide of between $5K and $100K are pretty minimal.
Are you looking for additional funding? Review the eligibility requirements for our $100K-$500K company financing.
All that is needed to begin is your contact details (company name, your name, email and telephone) as well as the amount you want to borrow, as well as your monthly income.
In the course of the process and before settlement we’ll need confirmation of your identity however, not in order to begin:
Once we’ve started in the process, for loans over $150,000 you’ll require basic 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.
You can apply for the Small Business Loan in under 10 minutes over the phone, receive an immediate response, and have the funds in your account in 24 hours. Traditional company loans have an annual interest rate plus other fees and charges. Our company loan is a cash-based loan therefore you’ll know in advance the amount you will have to pay, including any interest, fees or charges. Then, it is broken down into weekly or daily installment amount.
The Small Business Loan can be used to fulfill almost every business need, such as cash flow management, company improvements, advertising, to purchase inventory or new equipment, as general working capital and much more. The loan is not available for personal purposes.
The Larger Business Loan is a larger amount of loan to help business growth opportunities. Loans range from $100,000 to $500,000 for a fixed period of up to 36 months. Repayments are weekly or fortnightly, depending on the flow of cash.
A Larger Business Loan has an Origination Fee, calculated at 2.5 percent of the amount of the loan.
To qualify for a loan of this size, your company needs to be operating for at least three years and generate an annual revenue of at least $700K. You must be a New Zealand Citizen (or Permanent Resident) with a minimum age of 18 years old, own a New Zealand company (with a valid NZBN/IRD) and be able to prove at minimum 12 months of business.
A larger company loan can be used for nearly all company use, including business renovations, to purchase equipment or inventory, as general working capital, and much more. The loan is not available to fund personal expenses.
Asset security is needed to obtain funding above $150,000. It’s in the form of a charge on assets, and could include registering this on the PPSR or making a caveat.
A personal or director’s guarantee is a commitment to repay a loan which is general in nature, rather than stating security over a particular asset. The person signing the guarantee is personally liable if the business creditor is unable to repay the debt.
The Personal Property Securities Register (PPSR) is a central, national online register operated by the New Zealand Government. It lists security interests that are which are registered with respect to personal property (including objects or assets). The PPSR gives the priority of personal property granted according to the date the security interest that is registered.
Caveats are legal document filed to offer the legal claim to property.
If you’re applying for the Larger Business Loan that exceeds $250K, we may offer an initial pre-approval to smooth out the process. We could be able to make this decision without a credit verification and within 6 hours of your initial application. The pre-approval is based upon an initial assessment, which involves you answering some financial well-being questions. It’s in no way an offer, nor is it a guarantee of funds. Unconditional approval is subject to an exhaustive credit evaluation, and any offer you might receive could be based on different terms.
You may be eligible for a business loan if you:
The application process is quick and simple. Just fill out the online application in few minutes and a dedicated company expert in lending will call you to help you.
To be eligible for up to $100,000 you’ll need proof of identity (valid Driver’s License) as well as an active NZBN/IRD, and at least six months of bank statements.
For larger loan sizes, you’ll need:
$100K-$250K: Application details including credit consent, 6 – 12 months of IRD statements, bank statements (if loan above $150K).
$250K – $500K: Details for application including credit consent and 12 months of bank statements, IRD statement and the last two years’ finalised financial statements, in addition to interim financials for the current financial year as well as Aged Payables and Receivables summaries.
For an unsecured loan ($5K up to $100,000) we usually provide an answer within one hour, provided you submit your request in standard business time and permit us to use the advanced bank verification system link to instantly verify your bank details online. If you decide to send us copies of your bank statements , we are able to provide the decision within an company day.
If you are applying for a Larger Business Loan ($100K up to $500,000) we may be able to offer you with pre-approval conditional to your application within about six hours. Once you have signed the pre-approval, the turnaround time is approximately 2-3 days to receive final approval, however it could be faster based on the specifics of each application. Some deals have been approved in 24 hours.
The most effective method is to ensure you apply during standard company hours and allow us to use the advance bank verification to instantly confirm your bank details online. If you opt to send us copies of your bank statement, it may take a bit longer.
For the Small Business Loan ($5K and up) We can usually provide an answer within one hour – provided you submit your request within standard business time and permit us to use the bank verification system to immediately verify your bank account information online. If you want to upload copies of your bank statements, we will be able to offer a decision in just the span of one business day.
For Larger Business Loans ($100K or more) we may be capable of offer you with pre-approval conditional to your application in around six hours. Once you have signed the pre-approval, the turnaround time is about 2-3 days for final approval. However, this can be faster depending on the specifics of each application. Some agreements have been approved within just 24 hours.
The fastest way for you to apply is ensure you apply during standard business hours and allow us to use the modern bank verification to instantly verify your bank information online. If you choose to send us documents from your account accounts, it may take a bit longer.
We provide loan amounts between $5,000 and $500,000. If you apply for a certain amount, we will consider a number of aspects for determining how much we can lend you health for your company as well as the amount of repayments that your company is able to afford. The total amount of your loan will be contingent on the specific circumstances for your company.
When you make an application for a specific amount we look at a range of factors to assess how much we can lend you such as well-being of the company and the level of the repayments your company can afford. The total amount of your loan will be contingent on the particulars that are unique to your company.
If you decide to make an application for one of our company loans, we will assess the risk profile the business and offer you with a customised offer, including loan amount, term and interest rates. The company loan is a loan that is priced upfront so you will be aware in advance of the total amount payable including any charges, interest rates or fees.
Interest rates for business loans rates depend on several factors like the amount of money 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 in the event that the business has enough cash flow to fund the loan, and also the overall well-being and creditworthiness of the company.
There aren’t any hidden costs with our company loans, and you’ll know precisely how much you need to pay, and when, right from the day you sign up. There’s no compounding interest, and no additional fees (as long as you make your payments in time).
We don’t charge an application fee. You can make an application for loans absolutely no upfront cost and no the obligation to take action.
The Origination Fee is the cost associated with establishing and managing the loan. It is only charged for this fee if you choose to proceed with the loan. The Origination Fee for us is 2.5 percentage of the amount of loan.
You can decide to repay all of your advance loan at any time.
If you choose to do this please speak to our friendly business loan professionals. The experts will offer you with repayment details and an early payout figure. This is calculated as the sum of the principal balance and the accrued interest up to the time of early payout, plus 1.5 percent of the principal remaining plus any outstanding fees.
To make sure that you don’t miss payment dates and to align with your cash flow cycle we provide payments that are either weekly or daily. They are automatically deducted from your company account.
Making sure that your information is secure, and being clear about how we collect information, use it, and exchange it, as well as protect your information, is of paramount importance and a vital part of our relationship with you.
Yes. We use industry recognised encryption standards to secure your personal, sensitive financial information and our funders are ISO 27001 qualified for our commitment to security for our clients and security. We use an advanced banking verification system to instantly verify the bank account details online, allowing us to provide quick responses.
Asset-based borrowing occurs when the company owner utilises an asset that they own to obtain the funds for a loan. The asset can be a personal asset like the family home or a company asset like a truck or piece of equipment.
The majority of the lenders even the largest banks, are inclined to guarantee loans against assets. If you are having difficulty paying back the loan, the asset might be transferred to the lender. In essence it is an opportunity to secure new financing taking advantage of the value of what you already have.
For loans up to $150K no asset security is required upfront to access the money however, we do need the personal guarantee. If you adhere to your loan commitments (as stipulated in the loan contract) Asset security is not required. If you take out loans in excess of $150,000 generally, you can get a personal guarantee and security in the form a charge over assets.
