The requirements for obtaining an unsecured business loan in Adelaide of between $5K and $100K is fairly low.
Need more funds? Take a look at the guidelines for eligibility for our $100K to $500K business loan.
All you need to start is your contact information (the name of your company, your name, email and telephone), how much you’d like to lend, and your monthly revenue.
During the process and before settlement we will need confirmation of who you are but not for starting:
Once we’ve started in the process, for loans that exceed $150,000, you will also need basic financial statements:
Let’s get started now.
Adelaide unsecured loans provides amounts between $5,000 and $100,000, with terms ranging from 3 and 24 month and cash flow friendly repayments, which are either daily or weekly.
Apply to get your Small Business Loan in under 10 minutes by phone. You will receive an immediate response, and the money could be available in just 24 hours. Traditional business loans are based on an annual interest rate together with additional fees and charges. The business loan is a pre-paid loan therefore you’ll know in advance the total amount to be paid, including any fees, charges or charges. This is then broken down into either weekly or daily installment amount.
It is a Small Business Loan can be used for virtually every business use, including managing cash flows, business renovations, marketing for purchasing inventory or new equipment, for general working capital and so much more. The loan cannot be used for personal purposes.
The Larger Business Loan is a larger size loan to aid in business expansion opportunities. Loans range from $100,000 to $500,000 with a fixed-term with a maximum of 36 months. Repayments are weekly or fortnightly to work with your cash flow.
It is important to note that the Larger Business Loan has an Origination Fee which is calculated at 2.5 percent of the amount of the loan.
In order to be eligible for a loan of this size the company needs to have been trading for at least 3 years and generate an annual revenue of $700,000. The applicant must also be a New Zealand Citizen (or Permanent Resident) over 18 years as well as own a New Zealand company (with a valid NZBN/IRD) and be able to demonstrate at minimum 12 months of continuous trading.
A Business Loan of a larger size is a great option for almost all company use, including business renovations, purchase of equipment or inventory for general working capital and much more. The loan is not available for personal reasons.
Asset security is required to obtain funding above $150,000. It’s in the form of a charge on assets, and may be registered in the PPSR or the registration of as a caveat.
A director’s or personal guarantee is a guarantee to pay back a loan that is generally based rather than stipulating the security for a particular asset. The person signing the ensure is personally liable in the event that 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 registered in respect of personal property (including objects or assets). The PPSR allows prioritisation over property that is personal to be granted depending on the date that a security interest was registered.
A caveat is a legal document lodged to offer the legal claim to a property.
When you’re applying for larger company loans that exceeds $250K we can offer an initial pre-approval that will help simplify the process. We may be able to make this decision without a credit check, and within six hours of your initial application. The pre-approval process is based on an initial evaluation that involves you answering a few financial well-being checks. This is not an offer of credit or guarantee of finance. A conditional approval is subject an extensive credit evaluation and any offer you are offered could be subject to different conditions.
You may apply for a company loan if you;
The application process is simple and easy. Simply complete the online form in just a few minutes, and a dedicated business loan specialist will be in touch to guide you through the process.
To be eligible for up to $100,000 you’ll require ID details (valid Driver’s Licence), an active NZBN/IRD, and at least six months worth of bank statements.
If you’re looking for loans with larger sizes, you’ll also need:
$100K – $250K: Information about the application including credit consent, 6-12 months of IRD statements, bank statements (if you have a loan of more than $150K).
$250K to $500K: Details for application including credit consent, 12 months bank statement, an IRD statements Last 2 years’ finalised financial statements, in addition to interim financial statements for the current year such as age-related payables and aged Receivables Summary.
For an unsecured loan ($5K and up) we usually offer an answer within one hour, provided you submit your request within standard company time and you allow us to utilise the bank verification system link to instantly verify your bank’s information online. If you want to submit copies of your bank statements , we’ll be able to offer an answer within an company day.
For Larger Business Loans ($100K up to $500,000) we may be able to provide you with conditional pre-approval in about six hours. After you’ve signed the pre-approval form, it will take around 2-3 days for final approval, however it could be faster based on the particular circumstances of each application. Certain agreements have been approved within less than 24 hours.
The quickest method is to ensure you apply during normal company hours, and let us use the modern bank verification to verify your bank information online. If you send us copies of your bank statement, it will take a little longer.
For the Small Business Loan ($5K to $100K) we typically offer an answer within an hour – provided you apply within normal business times and permit us to make use of the advanced bank verification system to immediately verify your bank account information online. If you choose to upload copies of your banking statements we can offer the decision within the span of one business day.
For the Larger Business Loans ($100K up to $500,000) we might be likely to offer you with a conditional pre-approval within about six hours. Once you’ve signed the pre-approval, turnaround times are about 2-3 days for final approval. However, this could be shorter based upon the circumstances for each application. Some offers have been approved within less than 24 hours.
The fastest way is to ensure you apply during normal business hours. Also, allow us to use our advanced bank verification system to instantly check your bank’s information online. If you send us the copies of bank statements it will take a little longer.
We offer loans that range from $5,000 to $500,000. When you make an application for a specific amount we look at a variety of aspects for determining how much we can lend you health that is your company as well as the amount of repayments your business is able to afford. The total amount of your loan will be contingent on the particular circumstances that are unique to your company.
When you apply for a set amount, we look at a range of variables to determine the health of your company and the extent of repayments your business can afford. The amount you receive from your loan will depend on the particular circumstances the business.
If you decide to request business loans with us business loan, we will assess the risk assessment for your business and provide you with a customised offer that includes the amount of the loan, the duration and the interest rates. The company loan is an upfront-priced loan and you’ll know in advance the total amount you will have to pay, including costs, fees, or interest rates.
Business loan interest rates differ based on various factors such as the amount that is that is borrowed, what business assets the funds are used to purchase and the sector the business is operating in, how long the company has been running for, what percentage of the business has enough cash flow to pay for the loan, and general well-being or financial standing of the business.
There aren’t any hidden costs for our business loans. You’ll be aware of the amount you be required to pay and when, from the very first day. There’s no compounding interest and the loan comes with no additional fees (as long as you make your payments in time).
We don’t charge an application fee. You can apply for a loan no cost upfront or obligation to proceed.
The Origination Fee includes the expenses associated with setting up and managing the loan. The only way to pay this fee if you decide to take the loan. Our Origination Fee is 2.5 percentage of the loan amount.
You can decide to repay the entire amount of your advance loan at any time.
If you choose to do this please speak to our friendly company lending experts. The specialists will provide you with the details of your repayment along with an early payout estimate. The figure will be calculated as the total of the principal amount remaining and the accrued interest up to the time of the early payout and 1.5 percent of the remaining principal and any fees that remain unpaid.
To make sure you do not miss payment dates and to align with your cash flow cycle we offer repayments either daily or weekly. They are automatically deducted from your business account.
Making sure that your information is secure, and being transparent about how we collect data, process, exchange and protect your information, is crucial and a vital aspect of our relationship with you.
Yes. We use industry recognised encryption standards to secure your personal, sensitive financial information and our funders are ISO 27001 certified for our commitment to the security of our customers as well as their security. We utilise a sophisticated bank verification system to immediately confirm your bank account information online to provide quick responses.
An asset-based loan is when an company owner utilises the assets they have to make the funds for a loan. The asset can be a personal asset like the family home or it could be a company property like a truck or piece of equipment.
The vast majority of the lenders even the banks with the biggest size, prefer to secure loans against assets. If you’re having trouble paying back the loan, then your asset may be transferred to the lender. In essence, it’s an opportunity to secure new funding using the value of what you already have.
For loans up to $150K the requirement for asset security is not required before you are able to access the money but we do need the personal guarantee. In the event that you fulfill your loan commitments (as specified in the loan contract) Asset security will never be needed. For loans that exceed $150,000, generally, there is personal guarantee and security is provided in the form of a charge over assets.
