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Adelaide Business Loans
Providing Specialist Business Finance

Services in Tennyson

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

Business Finance Tennyson Adelaide 5022 SA

Simple eligibility checklist

Small Business Loan Eligibility Criteria

The eligibility requirements for an unsecured business loan in Adelaide of between $5K and $100K are pretty minimal.

  • Minimum of 6 months in business
  • A minimum of $6,000 in revenue per month
  • Be a New Zealand based company with a New Zealand Business Number (NZBN)
  • Passport or Driver’s License for evidence of identity
  • You should have an account with a New Zealand bank as your principal account for trading
  • Bank statements for the last 6 months

Are you looking for additional funding? Take a look at the guidelines for eligibility for our $100K-$500K company loans.

Quick application checklist

What do you need to apply

All you need 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 lend, as well as your monthly income.

During the process and before settlement we’ll require confirmation of your identity, however, not in order to begin:

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

After we start with loans greater than $150,000 you’ll also need basic 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

Tell me how you can avail the Adelaide Small Business Loans

Adelaide unsecured loans provides amounts of between $5,000 and $100,000, with terms ranging from 3 and 24 months, cash flow-friendly repayments that are either daily or weekly.

What makes the Unsecured Loan different from an ordinary company loan?

It is imaginable to apply for your Small Business Loan in under 10 minutes online or over the phone. You’ll get a same day response and have the funds on your account within 24 hours. Traditional company loans are based on an annual interest rate along with other charges and fees. Our business loan is an upfront priced loan therefore you’ll be aware in advance of the total amount payable including any fees, interest or charges. Then, it is divided into a daily or weekly installment amount.

What can the Small Business Loan be used for?

The Small Business Loan can be used for nearly every business reason, such as control of cash flow company remodels and marketing to purchase inventory, new equipment, for general working capital and much more. The loan cannot be used to fund personal expenses.

About Larger Adelaide Business Loans

What is the Larger Adelaide Business Loan?

The Larger Business Loan is a larger amount of loan to help company growth opportunities. Loans range 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 in order to accommodate your cash flow.

How is the Origination Fee determined?

The Larger Business Loan has an Origination Fee which is determined at 2.5% of the loan amount.

Do I qualify for the Larger Business Loan?

To qualify for a loan that is this large, your company needs to have been in operation for at least 3 years and have an annual turnover of at least $700,000. Your company must belong to a New Zealand Citizen (or Permanent Resident) with a minimum age of 18 years old as well as own a New Zealand business (with a valid NZBN/IRD) and be able demonstrate at least 12 months of trading.

What can the funding be used for?

A Larger Business Loan can be used for nearly all business purpose including company renovations, purchase of equipment or inventory or as general working capital, and much more. The loan cannot be used to fund personal expenses.

Is the Larger Business Loan a secured loan?

Asset security is required to obtain funding above $150,000. This is in the form of a charge over assets, and may include the registration of this with the PPSR or making as a caveat.

A director’s or personal guarantee is a promise to repay credit that is generally in nature rather than defining the security for a particular asset. The person signing the guarantee is personally responsible if the company borrower is unable to pay back the debt.

The Personal Property Securities Register (PPSR) is a central, national online register operated by the New Zealand Government. It contains security interests registered in respect of personal property (including items or assets). The PPSR permits preference over private property granted according to the date the security interest was registered.

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

What is a pre-approval minus Credit Check?

If you’re requesting a Larger Business Loan of $250,000 or more we may be able to provide a preliminary pre-approval to help simplify the process. We might be able to get this done without a credit check and within six hours of your initial application. The pre-approval is based upon an initial evaluation that involves answering a couple of financial well-being questions. This is not an offer of credit or guarantee of finance. Acceptance without condition is subject to a full credit assessment and any offer that you may receive may have different conditions.

Application process

Are I eligible for funding?

You may apply for an business loan if you:

  • are a New Zealand Citizen (or Permanent Resident)
  • are 18 years or older, have a New Zealand company (with a valid NZBN/IRD)
  • must show at least six months of trading (for the unsecured loan $5K – $100K) or 3 years of trading (for the Larger Business Loan $100K - $500K)

How do I apply?

The application process is fast and simple. Complete the online form in few minutes and a dedicated business lending specialist will be in touch to assist you.

To apply for up $100,000 you’ll need identification details (valid Driver’s Licence) along with a valid NZBN/IRD and at least 6 months’ worth of bank statements.

Otherwise, for larger loan sizes, you’ll also require:

$100K – $250K: Application details including credit consent, 6 – 12 months of bank statements, IRD statement (if you have a loan of more than $150K).
$250K to $500K: Details of the application, including credit consent as well as 12 months of bank records, IRD statements as well as the two most recent years’ financial statements, plus interim financials from the current financial year, Aged Payables and Aged Receivables summary.

What speed will I be able to get an answer?

For an unsecured loan ($5K up to $100,000) we usually offer an answer in just one hour, provided you make your application within quality business hours and you allow us to use the advanced bank verification system link to instantly verify your bank details online. If you opt to submit copies of your bank statements , we’ll be able to provide a decision in as little as one company day.

If you are applying for a Larger Business Loan ($100K or more) we may be in a position to provide you with a conditional pre-approval in around six hours. After you’ve signed the pre-approval, the turnaround time is about 2-3 days for final approval. However, this can be quicker based on the circumstances of each application. Certain transactions have received approval in the space of 24 hours.

The quickest method would be to make sure you apply during normal business hours, and allow us to use our advance bank verification to instantly verify your bank information online. If you decide to send us duplicates of your banking statement, it may take a bit longer.

How soon will I receive the cash?

For the Small Business Loan ($5K and up) we usually offer an answer within an hour if you apply during standard business hours and let us use the bank verification system link to instantly verify your bank’s information online. If you choose to upload copies of your bank statement, we’ll provide a decision in as little as an business day.

If you are applying for Larger Business Loans ($100K up to $500,000) We may be in a position to offer you with a conditional pre-approval within about 6 hours. Once you have signed the pre-approval document, you will need to wait between 2 and 3 days for the final approval. However, this could be shorter based on the particular circumstances of each application. Certain agreements have been approved in 24 hours.

The fastest way can be make sure you apply during standard business hours. Also, allow us to use our modern bank verification link to verify your bank information online. If you choose to send us documents from your account statement, it takes a bit longer.

How much can I borrow?

We provide loan amounts between $5,000 and $500,000. When you submit an application for a specific amount we take into consideration a range of variables in order to assess what is the health of your company and the level of payments your business can support. The total amount of your loan will be contingent on the particular circumstances for your business.

If you apply for a set amount, we will consider a number of variables to assess your well-being of the company as well as the amount of the repayments your business can afford. The amount you receive from your loan will be determined by the particular circumstances of your company.

Fees & repayments

How much do you charge for the cost of a company loan?

If you decide to request one of our company loan, we will assess the risk assessment for your business 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 of the total amount due, which includes any charges or interest.

What determines the rate that I am charged?

Interest rates for business loans rates depend on a variety of variables like the amount to be borrowed, the company assets the money are used to purchase as well as the field the company operates in, the long the company has been operating, how long the company has sufficient cash flow to cover the loan, and overall health or financial standing of the company.

What are the cost?

There are no hidden fees with our business loans, and you’ll know precisely what it is that you be required to pay and when, starting from the first day. There’s not any compounding interest and the loan comes with no additional fees (as as long as you pay your payments punctually).

We do not charge an application fee. You are able to apply for a loan with no upfront cost or obligation to proceed.

The Origination Fee includes the expenses associated with setting up and managing the loan. You are only charged this fee if you choose to proceed with the loan. The Origination Fee for us is 2.5% of the amount of the loan.

Can I repay the loan earlier?

You can repay the entire amount of the advance loan at any time.

If you choose to do this please talk to one of our helpful company loans experts. The professionals will provide you with repayment details and an early payout figure. This is calculated as the total of the principal amount remaining and the accrued interest up to the time of the early payout plus 1.5 percent of the remaining principal and any outstanding fees.

How do repayments work?

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

Security & privacy

Will my data be protected?

Security of your data, and being clear about how we collect the information we collect, use, share and secure your information, is of paramount importance and an integral element of our relationship with you.

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

Yes. We employ industry-recognised encryption techniques to protect your personal, sensitive as well as financial data. Our funders are ISO 27001 certified for our commitment to protecting the security of customers and security. We employ a highly sophisticated bank verification system that allows you to immediately verify your bank account information online, allowing us to offer quick responses.

About business loans

What is asset-based borrowing (a secured loan)?

Asset-based borrowing is when a business owner borrows from the assets they have to obtain the loan. The asset could be an asset belonging to the personal, like the family home, or it could be a company asset such as a truck or other piece of machinery.

The majority of lenders, not just the banks with the biggest size, prefer to secure loans against an asset. If you are having difficulty paying back the loan, the asset could be transferred to the lender. In essence, it is means of securing new financing using the value of what you already own.

Should I require security to secure an business loan?

For loans that exceed $150K, the requirement for asset security is not required prior to the loan’s access, however we do need a personal guarantee. As long as you follow your loan obligations (as stated in your loan contract document) the security of assets will never be required. For loans that exceed $150,000, generally, there is a personal guarantee and security that is in the form a charge over assets.

Adelaide Business Loans Services

Unsecured Business Loans

Unsecured Business Loans

Eligibility Requirements

Eligibility Requirements

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1300 931 922