Find Torrens Park Business Lenders By Service

Adelaide Business Loans
Providing Specialist Business Finance

Services in Torrens Park

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

Business Finance Torrens Park Adelaide 5062 SA

Simple eligibility checklist

Small Business Loan Eligibility Criteria

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

  • The minimum period of 6 months for which you must be 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 identification proof
  • Make sure you have a New Zealand bank as your main trading account
  • Bank statements from the last 6 months

Looking for more funding? Find out the guidelines for eligibility for our $100K to $500K company loans.

Quick application checklist

What do you need to apply

All that’s needed to get started is your contact details (the name of your company, your name, email, phone), how much you’d like to lend, and your monthly earnings.

Through the process and before settlement we will require confirmation of who you are, however, not in order to begin:

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

Additionally after we get started when it comes to loans greater than $150,000 you’ll require 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

About The Adelaide Small Business Loans

Tell me what you think of the Adelaide Small Business Loans

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

What is what makes the Unsecured Loan different from the traditional company loan?

The application to the Small Business Loan in under 10 minutes online or on the phone. You’ll receive an immediate response, and the money could be on your account within 24 hours. Traditional company loans are based on an interest rate per annum as well as other fees and charges. The 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 a daily or weekly payment amount.

What can be the Small Business Loan be used for?

The Small Business Loan can be used to fulfill almost any business use, including managing cash flows, business renovations, marketing, to purchase inventory or new equipment, as general working capital, and much more. The loan cannot be used for personal use.

About Larger Adelaide Business Loans

What is the Larger Adelaide Business Loan?

The Larger Business Loan is a larger size loan to aid in business expansion opportunities. Loans are between $100,000 and $500,000 with a fixed-term for up to 36 months. Repayments are either weekly or fortnightly to work with you cashflow.

How is the Origination Fee determined?

This Larger Business Loan has an Origination Fee, determined at 2.5% of the amount of the loan.

Do I qualify for the Larger Business Loan?

To be eligible for a loan of this size, your business needs to have been trading for at least 3 years and have an annual turnover of at least $700,000. It is necessary to be a New Zealand Citizen (or Permanent Resident) with a minimum age of 18 years old, own a New Zealand business (with a valid NZBN/IRD) and be able of proving at the least 12 months of operating.

What can I use the funding for?

A larger company loan can be used to fund almost any business need, including company improvements, purchasing equipment or inventory, as general working capital and much more. The loan cannot be used to fund personal expenses.

Is the Larger Business Loan one that is secured?

Asset security is necessary for accessing funds over $150,000. It is usually by way of charge against assets, which could also include registration with the PPSR or registering a caveat.

A personal or director’s ensure is a promise to pay off a credit line that is generally based rather than stipulating security over a particular asset. The person who is signing the ensure is personally accountable if the company creditor is unable 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 granted to individuals who own personal property (including items or assets). The PPSR permits preference over private property granted according to the date a security interest was registered.

The caveat can be described as a formal document filed to provide notice of a legal claim to a property.

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

If you’re requesting the Larger Business Loan of $250,000 or more it’s possible to offer an initial pre-approval that will help ease the process. We could be able to make this decision without credit checks and within 6 hours of the initial application. This pre-approval is made based on an initial assessment, which involves you answering some financial well-being checks. This is in no way an offer, nor is it a guarantee of finance. Unconditional approval is subject to an exhaustive credit evaluation, and any offer that you may receive may have different terms.

Application process

Do I have the right to receive funds?

You may apply for an company loan if you

  • are a New Zealand Citizen (or Permanent Resident)
  • are 18 years or older, own a New Zealand business (with a valid NZBN/IRD)
  • must show at least six months of trading (for you to qualify for unsecured loan $5K – $100K) or three years of trade (for the Larger Business Loan $100K or $500K)

How do I apply?

The process for applying is fast and simple. Just fill out the online application in just a few minutes, and an experienced company loan specialist will call you to assist you.

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

For larger loan sizes, you’ll require:

$100K to $250K: Information about the application including credit approval, 6-12 months of IRD statements, bank statements (if loan above $150K).
$250K to $500K: Details for application including credit consent as well as 12 months bank statement, an IRD statements, last 2 years finalised financial statements, plus interim financials from the current financial year, Aged Payables and Aged Receivables Summary.

What speed will I be able to get a decision?

For an unsecured loan ($5K or more) we usually provide an answer within one hour if you make your application within quality business hours and permit us to use the advanced bank verification system link to instantly verify your bank details online. If you decide to upload copies of your banking statements , we will be able to provide an answer in as little as an business day.

For the Larger Business Loan ($100K up to $500,000) we may be capable of offer you with a conditional pre-approval in about 6 hours. After you’ve signed the pre-approval document, you will need to wait around 2-3 days for final approval, however this may be quicker depending on the particular circumstances of each application. Certain deals have been approved within just 24 hours.

The most effective method for you to apply is make sure you apply during standard company hours and permit us to use the advanced bank verification system link to instantly confirm your bank details online. If you upload copies of your bank accounts, it will take a little longer.

How soon will I receive the money?

For the Small Business Loan ($5K to $100K) we usually offer a response in one hour, provided you submit your request in standard business timings and permit us to make use of the advanced bank verification system link to immediately verify your bank account information online. If you decide to send us copies of your bank statements, we are able to provide an answer in just one business day.

If you are applying for Larger Business Loans ($100K up to $500,000) we might be able to offer the conditional pre-approval within about six hours. After you’ve signed the pre-approval form, it will take approximately 2-3 days to receive final approval. However, this could be shorter based on the circumstances of each application. Some transactions have received approval in the space of 24 hours.

The most efficient method for you to apply is make sure you apply during normal business hours and let us use the modern bank verification to instantly confirm your bank details online. If you upload copies of your bank statement, it may take a bit longer.

What’s the minimum amount I can borrow?

We offer loan amounts between $5,000 and $500,000. If you apply for a certain amount we consider a variety of aspects that determine how much we can lend you well-being of your company and the amount of payments your company is able to afford. The amount you receive from your loan will depend on the specific circumstances the company.

When you apply for a certain amount, we take into consideration a variety of elements to assess your health for your business and the level of repayments that your company is able to afford. The total amount of your loan will depend on the specific circumstances of your business.

Fees & repayments

What is the cost for the cost of a company loan?

When you make an application for our business credit, we’ll assess the risk profile for your business and offer an individualised offer that includes the amount of the loan, the duration and interest rates. The business loan is a loan that is priced upfront which means you know in advance the total amount you will have to pay, including interest rates, fees or charges.

What is the basis for the rate I will be charged?

The interest rates on business loans rates depend on several variables like the amount to be borrowed, what company assets the funds will be used for in addition to the industry that the company operates in, how long the company has been operating as well as whether the business has enough cash flow to support the loan, and overall well-being or financial standing of the company.

What are the costs?

There are no hidden fees with our company loans. You’ll be aware of the amount you need to pay and when, starting from the day you sign up. There’s no compounding and the loan comes with no additional fees (as as long as you pay your payments in time).

We do not charge an Application Fee. You are able to request a credit loan absolutely no upfront cost and no commitment to apply.

The Origination Fee covers the expenses involved with the setting up and management of the loan. You are only charged this fee if you decide to take the loan. The Origination Fee for us is 2.5 percentage of the loan amount.

Can I repay the loan early?

You can decide to repay the entire amount of the loan in full at any time.

If you choose to pursue this option, please talk to one of our helpful business loan professionals. They will provide you with details for repayment along with an early payout estimate. This is calculated as the sum of the principal balance and the accrued interest up to the time of the early payout in addition to 1.5% of the principal amount remaining and any outstanding fees.

How do you make repayments work?

To help you avoid missing repayments and to fit in your cash flow schedule, we offer repayments either weekly or daily. They will be automatically deducted from the nominated company account.

Security & privacy

Will my information be secure?

Making sure that your information is secure, and being upfront about the ways we gather data, process, exchange and ensure the security of your information is vital 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 dedication to the security of our clients as well as their security. We utilise a sophisticated bank verification system link to instantly verify the bank account details online so we can provide quick responses.

About business loans

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

An asset-based loan is when a business owner utilises an asset they own to secure a loan. The asset can be either an individual property, such as the family home or an company asset like a truck or other piece of machinery.

The majority of the lenders even the big banks, tend 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’s means of securing new financing taking advantage of the value of what you already have.

Are I require security to get an company loan?

For loans that exceed $150,000, no asset security is required prior to the loan’s access but we require a personal guarantee. need an individual guarantee. In the event that you fulfill your loan commitments (as stated in your loan contract) the security of assets will never be needed. If you take out loans in excess of $150K generally, there is the option of a personal guarantee and security is provided in the form of a charge over assets.

Adelaide Business Loans Services

Unsecured Business Loans

Unsecured Business Loans

Eligibility Requirements

Eligibility Requirements

Apply Now

Apply Now

Contact Us

Contact Us

Contact Us

Fill out the form below or Call Now
1300 931 922