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Adelaide Business Loans
Providing Specialist Business Finance

Services in West Beach

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

Business Finance West Beach Adelaide 5024 SA

Simple eligibility checklist

Small Business Loan Eligibility Criteria

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

  • A minimum of six 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
  • Have an account with a New Zealand bank as your principal account for trading
  • Bank statements from the previous 6 months

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

Quick application checklist

What do you need to apply

All you need to begin is your contact information (the name of your company, your name, email address, 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 who you are, but not for starting:

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

After we start, for loans over $150,000 you will 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

About The Adelaide Small Business Loans

Tell me how you can avail the Adelaide Small Business Loans

Adelaide unsecured loans provides amounts between $5,000 and $100,000 with terms between 3 and 24 month and cash flow friendly repayments that are either per day or weekly.

What is the Unsecured Loan different from an traditional business loan?

The application for your Small Business Loan in under 10 minutes via the internet or by phone. You will receive an answer within the same day and funds may be in your account in 24 hours. Traditional company loans reference an annual interest rate as well as other fees and charges. Our business loan is a cash-based loan therefore you’ll be aware of the total amount due, which includes the interest, fees and charges. Then, it is broken down into either a daily or weekly repayment figure.

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

A Small Business Loan can be used for almost any company use, including managing cash flows, company improvements, advertising, to purchase inventory or new equipment, for general working capital, and much more. The loan cannot be used for personal reasons.

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 from $100,000 to $500,000 over a fixed term that can last up to 36 months. The repayments are made weekly or fortnightly to work with your cash flow.

How’s the Origination Fee determined?

This Larger Business Loan has an Origination Fee, which is calculated at 2.5 percentage of the amount of the loan.

Am I eligible for the Larger Business Loan?

In order 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 income of $700,000. The applicant must also be a New Zealand Citizen (or Permanent Resident) at least 18 years old, own a New Zealand business (with a valid NZBN/IRD) and be able demonstrate at least 12 months of trading.

What can the funds be used for?

A larger company loan is a great option for almost every company purpose including company remodeling, buying inventory or new equipment, as general working capital and much more. The loan is not available to fund personal expenses.

Is the Larger Business Loan one that requires security?

Asset security is necessary to access funding over $150,000. This can be done by way of charge over assets, and could include registration in the PPSR or filing a caveat.

A director’s or personal guarantee is a promise to repay a loan which is generally in nature rather than stating security over an asset. The person signing the ensure is personally liable if the company creditor is unable to pay back the debt.

The Personal Property Securities Register (PPSR) is a central, national online register that is operated by the New Zealand Government. It lists security interests that are that are registered for personal property (including goods or assets). The PPSR permits priority over personal property to be granted depending on the date that a security interest was registered.

A caveat is a legal document that is filed to provide the public notice of a legal claim to property.

What is a pre-approval without Credit Check?

When you’re applying for a Larger Business Loan of more than $250,000 we may be able to provide an initial pre-approval in order to smooth out the process. We could be able to make this decision without a credit check, and within 6 hours of the initial application. The pre-approval process is based on an initial assessment that includes you answering some financial health questions. This is not an offer of credit or guarantee of finance. Unconditional approval is subject to an exhaustive credit evaluation, and any offer you might receive could be subject to different conditions.

Application process

Are I eligible for funding?

You can apply for a business 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)
  • can demonstrate at least 6 months of business (for you to qualify for unsecured loan $5K – $100K) or 3 years of continuous trading (for the Larger Business Loan $100K or $500K)

How do I apply?

The application process is fast and simple. Just fill out the online application in few minutes and a dedicated company loan specialist will contact you to guide you through the process.

For a loan of up to $100,000, you’ll require the right identification documents (valid Driver’s License) and an NZBN/IRD that is valid and at least 6 months of bank statements.

If you’re looking for loans with larger sizes, you’ll require:

$100K-$250K: Details of application, 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, 12 months of bank statements, IRD statement, last 2 years finalised financial statements, plus interim financials for the current financial year, Aged Payables and Aged Receivables summary.

How quickly will I receive a decision?

For an unsecured loan ($5K to $100K) we usually provide a response in one hour if you submit your request at quality company times and allow us to utilise the bank verification system to instantly verify your bank’s information online. If you opt to submit copies of your bank statements , we’ll be able to provide a decision within just the span of one business day.

For the Larger Business Loan ($100K or more) we might be likely to provide you with a conditional pre-approval in about 6 hours. Once you have signed the pre-approval, the turnaround time is around 2-3 days for final approval, however it could be faster based on the specifics of each application. Some deals have been approved in less than 24 hours.

The most effective method is to ensure you apply during standard business hours and allow us to use our advanced bank verification system link to confirm your bank details online. If you opt to upload copies of your bank statement, it may take a bit longer.

What is the time frame to receive the money?

For the Small Business Loan ($5K and up) we typically offer an answer in just one hour if you submit your request within normal business timings and let us use the advanced bank verification system link to immediately verify your bank account information online. If you choose to upload copies of your banking statements we can provide the decision in just an business day.

For the Larger Business Loans ($100K to $500K) We may be likely to provide you with pre-approval conditional to your application in around six hours. Once you’ve signed your pre-approval, the turnaround time is between 2 and 3 days for the final approval. However, it could be faster based upon the circumstances for each application. Certain transactions have received approval in 24 hours.

The most efficient method is to make sure you apply during standard business hours and permit us to use the modern bank verification link to verify your bank information online. If you choose to upload duplicates of your banking accounts, it takes a bit longer.

What’s the minimum amount I can borrow?

We provide loans that range from $5,000 to $500,000. When you make an application for a certain amount we take into consideration a range of aspects to determine what is the well-being of the company and the amount of repayments your business can support. The amount you receive from your loan will depend on the specifics the company.

When you apply for a set amount, we consider a variety of factors to assess the health of your company and the extent of repayments your company can afford. The amount you receive from the loan will be determined by the particular circumstances the company.

Fees & repayments

How much do you charge for an company loan?

If you decide to request one of our company loan, we will assess the risk profile for your company and provide you with a customised offer including loan amount, term and interest rates. The company loan is an upfront-priced loan so you will know the exact amount you will have to pay, including costs, fees, or interest rates.

What determines the amount I pay?

Interest rates for business loans rates depend on several factors like the amount of money of money borrowed, the business assets the money are used to purchase, the industry the business is in, how long the business has been in operation and how long the business has enough cash flow to cover the loan, and the overall health or creditworthiness of the company.

What are the fees?

There aren’t any hidden costs for our company loans. You’ll know precisely how much you be required to pay, and when, from the day you sign up. There’s no compounding interest, and no additional fees (as as you make your payments on time).

We don’t charge an application fee. You are able to request a credit loan no cost upfront or any obligation to sign up.

The Origination Fee is the cost associated with establishing and managing the loan. This is only a fee if you proceed with the loan. Our Origination Fee is 2.5% of the amount of loan.

Can I pay out the loan in advance?

You can choose to repay the entire amount of your loan at any point in time.

If you do decide to take this route, please contact our helpful company loans experts. We will offer you with details for repayment as well as an early payout amount. This will be calculated as the total of the principal amount remaining and accrued interest to the time of the early payout in addition to 1.5% of the principal amount remaining and any fees that remain unpaid.

How do repayments work?

In order to help you avoid missing payment dates and to align your cash flow cycle we offer repayments that are either weekly or daily. These are automatically withdrawn from your nominated company account.

Security & privacy

Will my information be protected?

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 a vital aspect 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 sensitive, personal and financial data and our funders are ISO 27001 qualified for our dedication to the security of our customers as well as their privacy. We utilise a sophisticated bank verification system link to immediately verify the bank account details online. This allows us to offer rapid response.

About business loans

What exactly is an asset-based loan (a secured loan)?

Asset-based borrowing is when the company owner borrows from assets they own to obtain a loan. The asset may be a personal asset like the family home or an company property like a truck or piece of equipment.

The vast majority of lending institutions, not just the banks with the biggest size, prefer to secure loans against an asset. If you are having difficulty paying back the loan then the asset might be sold by the lender. In essence it’s an opportunity to secure new funding making use of the value of what you already have.

Are I need security to secure a company loan?

For loans that exceed $150,000, no asset security is required prior to the loan’s access, however we require a personal guarantee. need an individual guarantee. As long as you follow the terms of your loan (as detailed in your loan contract document) the security of assets will never be required. For loans of over $150K typically, you will need an individual guarantee and security is provided in the form of charges on assets.

Adelaide Business Loans Services

Unsecured Business Loans

Unsecured Business Loans

Eligibility Requirements

Eligibility Requirements

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1300 931 922