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Adelaide Business Loans
Providing Specialist Business Finance

Services in Sellicks Hill

  • Sellicks Hill Unsecured Business Loan
  • Business Finance Sellicks Hill
  • Sellicks Hill Business Lending
  • Sellicks Hill Business Loans
  • Small Business Finance Sellicks Hill
  • Business Funding Sellicks Hill
  • Sellicks Hill Working Capital
  • Sellicks Hill Small Business Lending
  • Sellicks Hill Short Term Business Loan

Business Finance Sellicks Hill Adelaide 5174 SA

Simple eligibility checklist

Small Business Loan Eligibility Criteria

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

  • Minimum of 6 months in business
  • At least $6,000 in income per month
  • You must be a New Zealand based business with a New Zealand Business Number (NZBN)
  • Drivers Licence or Passport for proof of identity
  • Make sure you have a New Zealand bank as your primary account for trading
  • Bank statements from the past six months

Need more funds? Take a look at the eligibility requirements for our $100K to $500K business loans.

Quick application checklist

What do you need to apply

All that is needed for starting is your contact details (company name, your name, email and phone) as well as the amount you’d like to borrow and your monthly income.

Through the process and before settlement we will need confirmation of your identity however, not in order to begin:

  • Details of the Idenfication (valid Driver’s Licence)
  • Details of the business including time of trading as well as ownership information and NZBN (New Zealand Business Number)

In addition, once we have started in the process, for loans greater than $150,000 you’ll need the following financial statements:

  • Profit & Loss statement
  • Aged payables
  • Aged receivables

Let’s get started now.

 

FAQ: business lending & business loans for business owners

Business Loans Frequently Ask Questions

More about the Adelaide Small Business Loans

Let me know about the Adelaide Small Business Loans

Adelaide unsecured loans offers the range of $5,000 to $100,000. The terms range between 3 and 24 months. They also offer cash flow-friendly repayments which can be made daily or weekly.

How is the Unsecured Loan different from the traditional business loan?

Apply for the Small Business Loan in under 10 minutes online or over the phone, receive an immediate response, and funds may be in your account in 24 hours. Traditional business loans refer to an interest rate per annum together with additional fees and charges. Our business loan is a pre-paid loan and you’ll know in advance the total amount payable including any fees, interest or charges. Then, it is divided into a daily or weekly installment amount.

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

A Small Business Loan can be used for nearly any company use, including managing cash flows, company improvements, advertising to purchase inventory, new equipment, to fund general working capital and so much more. The loan is not available for personal use.

About 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 from $100,000 to $500,000 with a fixed-term that can last up to 36 months. Repayments are weekly or fortnightly depending on your situation.

How’s the Origination Fee calculated?

It is crucial to note that the Larger Business Loan has an Origination Fee which is determined at 2.5 percent of the loan amount.

Do I qualify for the Larger Business Loan?

To be eligible for a loan of this size the company needs to be operating for at least three years with an annual turnover of $700K. It is necessary to be a New Zealand Citizen (or Permanent Resident) at least 18 years old, own a New Zealand company (with a valid NZBN/IRD) and be able demonstrate at minimum 12 months of business.

What can I use the funds for?

A Business Loan of a larger size can be used to fund almost any business use, including company renovations, purchase of inventory or new equipment as well as for general working capital and much more. The loan cannot be used for personal use.

Is the Larger Business Loan one that is secured?

Asset security is required for accessing funds over $150,000. This can be done as a result of an charge on assets, and may be registered in the PPSR or the registration of as a caveat.

A personal or director’s ensure is a guarantee to pay back a loan that is general in nature, rather than stating the security of a specific asset. The person signing the ensure is personally liable in the event that the business lender is not able to repay 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 that are registered for personal property (including items or assets). The PPSR allows the priority of personal property granted according to the date a registration of a security interest.

Caveats are legal form of document to provide notice of a legal claim to property.

What is a pre-approval that does not require Credit Check?

If you’re applying for the Larger Business Loan that is greater than $250,000 it is possible to offer an initial pre-approval to ease the process. It is possible to get this done without credit checks and within 6 hours of your initial application. This pre-approval is based on a preliminary assessment which includes you answering a few financial well-being questions. It is not an offer of credit or guarantee of finance. Acceptance without condition is subject to an assessment of your creditworthiness and any offer that you may receive may be based on different conditions.

The application process

Do I have the right to receive funds?

You are eligible to apply for an business loan if you:

  • are a New Zealand Citizen (or Permanent Resident)
  • are over 18 years, own a New Zealand company (with a valid NZBN/IRD)
  • can demonstrate at least 6 months worth of trade (for you to qualify for unsecured loan $5K – $100K) or 3 years of trading (for the Larger Business Loan $100K - $500K)

How do I apply?

The application process is quick and simple. Just fill out the online application in just a few minutes, and a dedicated business expert in lending will call you to assist you.

To be eligible for up to $100,000, you’ll need proof of identity (valid Driver’s License) as well as an NZBN/IRD that is valid and at least 6 months of bank statements.

For larger loan sizes, you’ll also need:

$100K-$250K: Details of application, including credit consent, 6 – 12 months of bank statements, IRD statement (if credit is over $150K).
$250K – $500K: Details for application including credit consent, 12 month bank accounts, the IRD statements Last 2 years’ finalised financial statements, plus interim current financial year financials, Aged Payables and Aged Receivables summaries.

What speed will I be able to get a decision?

For an unsecured loan ($5K or more) we can often offer a response in one hour, provided you submit your request in standard business times and permit us to utilise the bank verification system to instantly verify your bank’s information online. If you opt to send us copies of your bank statements we can provide a decision within just 1 business day.

For Larger Business Loans ($100K or more) we might be able to provide you with conditional pre-approval within about 6 hours. Once you have signed the pre-approval document, you will require to wait approximately 2-3 days to receive final approval, however this could be shorter based on the circumstances of each application. Some offers have been approved within just 24 hours.

The quickest method can be ensure you apply during normal business hours. Also, allow us to use the advance bank verification to confirm your bank details online. If you upload the copies of bank statements it will take a little longer.

How soon will I receive the cash?

For the Small Business Loan ($5K to $100K) we can often provide a response in one hour – as long as you submit your request at normal business time and permit us to use the advanced bank verification system to instantly verify your bank details online. If you choose to submit copies of your bank statement, we’ll offer a decision within an business day.

If you are applying for Larger Business Loans ($100K to $500K) We may be capable of offer you with pre-approval conditional to your application in about six hours. After you’ve signed the pre-approval, the turnaround time is about 2-3 days for final approval, however this may be quicker depending on the particular circumstances of each application. Certain transactions have received approval within less than 24 hours.

The fastest way for you to apply is make sure you apply during normal business hours. You can also allow us to use our modern bank verification link to instantly check your bank’s information online. If you decide to upload the copies of bank accounts, it may take a bit longer.

How much can I borrow?

We provide loans that range from $5,000 and $500,000. When you make an application for a particular amount, we will consider a number of factors in order to assess your well-being of your business and the amount of repayments your company is able to afford. The amount you receive from your loan will depend on the specifics for your company.

If you apply for a set amount, we look at a range of aspects to determine your well-being of your company and the amount of the repayments your company is able to afford. The total amount of your loan will be contingent on the particular circumstances the company.

Fees & repayments

How much do you charge for a business loan?

If you decide to request one of our company loans, we’ll assess the risk profile that you have for your business and offer you with a customised offer that includes the amount of the loan, the duration and interest rates. A company loan is an upfront priced loan which means you be aware of the total amount to be paid, including any charges or interest.

What is the basis for the rate I pay?

Interest rates for business loans rates differ based on various factors like the amount of money borrowed, the company assets the funds are used to purchase and the sector the company operates in, how long the company has been operating for, what percentage of the business has enough cash flow to support the loan, and general health and creditworthiness of the company.

What are the cost?

There aren’t any hidden charges with our business loans, and you’ll be aware of the amount you’ll be required to pay and when, from the first day. There’s no compounding interest, and no additional fees (as long as you make your payments punctually).

We do not charge an Application Fee. You are able to apply for a loan absolutely no upfront cost and no any obligation to sign up.

The Origination Fee covers the expenses involved with setting up and managing the loan. This is only a fee if you proceed with the loan. Our Origination Fee is 2.5% of the loan amount.

Can I repay the loan earlier?

You can decide to repay all of your loan in full at any time.

If you choose to do this please speak to our friendly business lending specialists. We will provide you with details for repayment as well as an early payout amount. This is calculated as the sum of the remaining principal amount plus any accrued interest as of the time of early payment and 1.5% of the remaining principal as well as any outstanding fees.

What is the process for repayments?

To ensure that you don’t miss repayments and to fit in with your cash flow cycle we provide payments that are either weekly or daily. They will be automatically deducted from the nominated company account.

Security & privacy

Will my data be protected?

The security of your personal information, as well as knowing how we collect data, process, exchange and protect your information, is of huge importance and a vital part of our relationship with you.

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

Yes. We make use of industry-standard encryption standards to secure your sensitive, personal as well as financial data. Our funders are ISO 27001 certified for our dedication to protecting the security of clients and security. We make use of an advanced bank verification system to immediately verify your bank account information online. This allows us to provide a fast response.

About business loans

What’s an asset-based borrow (a secured loan)?

The term "asset-based" refers to borrowing where an company owner uses an asset that they own to make the funding. The asset may be a personal asset like the family home or an business asset such as a vehicle or piece of equipment.

The vast majority of the lenders including the big banks, tend to secure loans against assets. If you have trouble paying back the loan, your asset may be transferred to the lender. In essence it is a way of securing new financing using the value of what you already own.

What do I need security to secure a business loan?

For loans up to $150,000 the requirement for asset security is not required upfront to access the money but we do require a personal guarantee. In the event that you fulfill your loan obligations (as detailed in your loan contract) the security of assets is not needed. For loans that exceed $150,000, typically, you will need an individual ensure and security in the form of an asset charge.

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