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 guidelines for eligibility for our $100K-$500K business financing.
All that is needed for starting is your contact details (company name and your name, as well as email, phone) and the amount you’d like to borrow, and your monthly income.
While in the process and before settlement we’ll require confirmation of who you are, however, not in order to begin:
After we start, for loans over $150,000 you will also need basic financial statements:
Let’s get started now.
Adelaide unsecured loans provides the range of $5,000 to $100,000, with terms ranging from 3 and 24 months, cash flow-friendly repayments, which are either daily or weekly.
The application for this Small Business Loan in under 10 minutes online or over the phone, receive an immediate response, and the money could be in your account within 24 hours. Traditional company loans reference an annual rate of interest together with additional fees and charges. We offer a business loan is a cash-based loan therefore you’ll be aware of the amount you will have to pay, including the interest, fees and charges. This is then divided into a daily or weekly payment amount.
A Small Business Loan can be used for almost every company use, including control of cash flow company renovations, marketing, to purchase inventory or new equipment, or as general working capital, and much more. The loan cannot be used to fund personal expenses.
The Larger Business Loan is a larger size of loan that can be used to fund business growth opportunities. The loan ranges from $100,000 to $500,000 over a fixed term that can last up to 36 months. Repayments are weekly or fortnightly to work with your situation.
The Larger Business Loan has an Origination Fee, determined at 2.5 percentage of the amount of the loan.
To be eligible for a loan of this size the business needs to be operating for a minimum of 3 years and have an annual turnover of $700K. Your business must belong to a New Zealand Citizen (or Permanent Resident) with a minimum age of 18 years old or have a New Zealand business (with a valid NZBN/IRD) and be able demonstrate at least 12 months of trading.
A larger business loan can be used for nearly every business need, including company renovations, to purchase equipment or inventory, as general working capital and so much more. The loan is not available to fund personal expenses.
Asset security is needed for accessing funds over $150,000. It’s in the form of a charge on assets, which could also include registration through the PPSR or filing as 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 who signs the guarantee is personally liable if the business borrower is unable to repay the debt.
The Personal Property Securities Register (PPSR) is an online central registry run by the New Zealand Government. It reflects security interests granted to individuals who own personal property (including goods or assets). The PPSR gives preference over private property granted according to the date a security interest has been registered.
A caveat is a legal document filed to provide notice of a legal claim against a property.
If you’re applying for the Larger Business Loan that exceeds $250,000, we may offer an initial pre-approval that will help make the process. We may be able to make this decision without a credit check, and within 6 hours of the initial application. This pre-approval is made based on an initial assessment, which involves answering a couple of financial health questions. This is not an offer of credit or guarantee of credit. The approval of a conditional loan is subject to an exhaustive credit evaluation, and any offer that you receive could be subject to different conditions.
You can apply for a company loan if you:
The process for applying is fast and easy. Just fill out the online application within a couple minutes, and an experienced company loan specialist will contact you to guide you.
To apply for up $100,000, you’ll need ID details (valid Driver’s License) and an NZBN/IRD that is valid and at least six months of bank statements.
Otherwise, for larger loan sizes, you’ll need:
$100K-$250K: Application details including credit approval, 6-12 months of IRD statements, bank statements (if credit is over $150K).
$250K – $500K: Details of the application, including credit consent, 12 months of bank records, IRD statements as well as the two most recent years’ financial statements, as well as interim current financial year financials including Aged Payables, Aged Receivables summary.
For an unsecured loan ($5K or more) we can often offer a response in one hour, provided you apply within quality business times and permit us to utilise the advanced bank verification system link to instantly verify your bank information online. If you choose to submit copies of your bank statement, we’ll provide an answer within an business day.
For Larger Business Loans ($100K to $500K) we could be able to offer the conditional pre-approval within 6 hours. After you’ve signed your pre-approval document, you will need to wait about 2-3 days for final approval, however this may be quicker depending upon the circumstances for each application. Some deals have been approved in 24 hours.
The fastest way for you to apply is ensure you apply during normal company hours. You can also allow us to use the advanced bank verification system link to verify your bank account information online. If you opt to send us duplicates of your banking statement, it may take a bit longer.
For the Small Business Loan ($5K to $100K) we usually provide an answer within one hour – provided you submit your request at normal business times and you allow 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 can provide a decision in as little as the span of one business day.
For the Larger Business Loans ($100K to $500K) we may be capable of provide you with conditional pre-approval in around 6 hours. Once you’ve signed the pre-approval, turnaround times are between 2 and 3 days for the final approval, however this may be quicker depending on the circumstances of each application. Certain deals have been approved within less than 24 hours.
The fastest way would be to make sure you apply during standard business hours. You can also let us use the modern bank verification to verify your bank account information online. If you opt to send us duplicates of your banking statements it will take a little longer.
We provide loans ranging from $5,000 to $500,000. If you apply for a certain amount we will consider a number of factors in order to assess your well-being of the business and the amount of repayments your business will be able to support. The total amount of your loan will depend on the specific circumstances that are unique to your business.
If you apply for a specific amount we look at a range of elements to determine how much we can lend you such as well-being for your business and the extent of repayments that your business is able to afford. The amount you receive from your loan will depend on the specific circumstances the business.
When you request our business loans, we’ll assess the risk assessment of your company and provide you with a customised offer including the loan amount, the terms and interest rates. The business loan is an upfront cost loan which means you know in advance the total amount due, which includes any costs, fees, or interest rates.
The interest rates on business loans rates vary due to variables like the amount to be of money borrowed, the company assets the funds are used to purchase, the industry the company operates in, the long the business is in operation and how long the company has enough cash flow to fund the loan, and the general well-being or financial standing of the company.
There are no hidden costs for our company loans, and you’ll know precisely what you be required to pay, and when, from the day you sign up. There’s no compounding interest and the loan comes with no additional fees (as long as you are able to make your payments in time).
We do not charge an application fee. You are able to make an application for loans with without any upfront costs or the obligation to take action.
The Origination Fee covers the expenses involved with setting up and managing the loan. It is only charged for this fee if you choose to proceed with the loan. Our Origination Fee is 2.5% of the loan amount.
You may choose to pay back the total amount of your loan in full at any time.
If you do decide to take this route, please contact our helpful business loan professionals. The professionals will offer you with details for repayment and an early payout figure. It will be calculated using the total of the principal amount remaining and the accrued interest up to the time of early payout and 1.5% of the remaining principal plus any outstanding fees.
To ensure you do not miss repayments and to fit in with your cash flow cycle we provide repayments either daily or weekly. These are automatically deducted from your nominated company account.
Security of your data, and being upfront about the ways we gather the information we collect, use, share and secure your information, is crucial and is an essential aspect of our relationship with you.
Yes. We utilise industry-recognised encryption standards to secure your sensitive, personal and financial data and our funders are ISO 27001 qualified for our commitment to security for our clients and privacy. We make use of an advanced banking verification system to instantly verify your bank account details online so we can offer a fast response.
Asset-based borrowing is when an business owner borrows from an asset that they own to secure a loan. The asset could be an asset belonging to the personal, like the family home, or a company asset like a truck or piece of equipment.
The majority of the lenders not just the big banks, tend to make loans secured by assets. If you have trouble paying back the loan, your asset may be sold by the lender. In essence, it is a way of securing new financing using the value of what you already have.
Up to $150,000 in loans there is no requirement for asset security prior to the loan’s access but we require a personal guarantee. require the personal guarantee. As long as you follow your loan commitments (as specified in the loan contract) and you are able to meet your obligations, asset security is not required. For loans of over $150,000 generally there is an individual ensure and security in the form a charge over assets.
