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Adelaide Business Loans
Providing Specialist Business Finance

Services in Woodville Park

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

Business Finance Woodville Park Adelaide 5011 SA

Simple eligibility checklist

Small Business Loan Eligibility Criteria

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

  • The minimum period of 6 months for which you must be in business
  • At least $6,000 of revenue per month
  • Be a New Zealand based company with a New Zealand Business Number (NZBN)
  • Passport or Driver’s Licence for proof of identity
  • Have a New Zealand bank as your principal trading account
  • Bank statements from the previous 6 months

Need more funds? Check out the eligibility requirements for our $100K to $500K business financing.

Quick application checklist

What do you need to apply

All that’s needed to start is your contact information (company name, your name, email, phone) along with the amount you’d like to lend, and your monthly earnings.

While in the process and before settlement we’ll need confirmation of your identity, but not to get started:

  • Idenfication details (valid Driver’s License)
  • Information about the business, including details on trading hours owner details, trading time, as well as the NZBN (New Zealand Business Number)

Once we’ve started in the process, for loans that exceed $150,000, you will also require fundamental financial statements:

  • P&L statement
  • Aged payables
  • Aged receivables

Let’s get started now.

 

FAQ: business lending & business loans for business owners

Business Loans Frequently Ask Questions

Information About The Adelaide Small Business Loans

Let me know more about Adelaide Small Business Loans

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

What makes what makes the Unsecured Loan different from a traditional business loan?

You can apply to this Small Business Loan in under 10 minutes over the phone. You’ll get an instant response and have the funds available in just 24 hours. Traditional company loans reference an interest rate per annum together with additional fees and charges. We offer a business loan is an upfront priced loan and you’ll know in advance the amount you will have to pay, including any fees, interest or charges. This is then broken down into either weekly or daily repayment figure.

What could be the Small Business Loan be used for?

The Small Business Loan can be used for almost any business purpose including managing cash flows, company remodels and marketing to purchase inventory, new equipment, or as general working capital and so 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 expansion opportunities. Loans range from $100,000 to $500,000 with a term fixed for up to 36 months. Repayments are either weekly or fortnightly, depending on you cashflow.

How is the Origination Fee determined?

It is crucial to note that the Larger Business Loan has an Origination Fee, which is calculated at 2.5% of the amount of the loan.

Am I eligible for the Larger Business Loan?

To be eligible for a credit of this size the business needs to be operating for at least three years and have an annual turnover of $700K. You must be a New Zealand Citizen (or Permanent Resident) with a minimum age of 18 years old, own a New Zealand company (with a valid NZBN/IRD) and be able demonstrate at minimum 12 months of continuous trading.

How can the funding be used for?

A large company loan can be used to fund almost every company use, including company remodeling, buying equipment or inventory as well as for general working capital and much more. The loan is not available for personal use.

Is the Larger Business Loan a secured loan?

Asset security is necessary to access funding over $150,000. It’s in the form of a charge over assets, and may be registered through the PPSR or registering a caveat.

A director’s or personal guarantee is a guarantee to pay back a loan that is generally in nature rather than stipulating security over a particular asset. The person who is signing the guarantee is personally accountable if the business 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 lists security interests that are registered in respect of personal property (including items or assets). The PPSR gives preference over private property assigned according to the date the security interest that is registered.

Caveats are legal document that is filed to provide notice of a legal claim to a property.

What is a pre-approval without Credit Check?

If you’re applying for larger company loans that exceeds $250K we can offer an initial pre-approval that will help make the process. It is possible to get this done without a credit check and within 6 hours of your initial application. This pre-approval is made based on an initial assessment that includes you answering some financial health questions. It is not an offer of credit or guarantee of credit. A conditional approval is subject an exhaustive credit evaluation, and any offer that you are offered could be subject to different conditions.

The application process

Can I be eligible for funding?

You may be eligible for an company loan if you:

  • are a New Zealand Citizen (or Permanent Resident)
  • are over the age of 18 and have a New Zealand business (with a valid NZBN/IRD)
  • you must demonstrate at minimum 6 months of trading (for a unsecured loan $5K – $100K) or 3 years of trading (for the Larger Business Loan $100K or $500K)

How do I apply?

The application process is quick and simple. Just fill out the online application within a few minutes and an experienced business lending specialist will contact you to guide you.

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

In addition, for larger loan sizes, you’ll need:

$100K – $250K: Details of application, including credit consent, 6 – 12 months of bank statements, IRD statement (if the loan is greater than $150K).
$250K – $500K: Details for application including credit consent, 12 months of bank records, IRD statement as well as the two most recent years’ financial statements, plus interim financial statements for the current year such as age-related payables and aged Receivables reports.

How quickly will I receive a decision?

For an unsecured loan ($5K and up) We can usually offer an answer in just one hour if you apply during standard business time and let us utilise the bank verification system link to instantly verify your bank’s information online. If you choose to upload copies of your banking statements , we’ll be able to offer an answer within an company day.

If you are applying for a Larger Business Loan ($100K up to $500,000) we may be able to offer you with pre-approval conditional to your application within about 6 hours. Once you’ve signed the pre-approval, the turnaround time is approximately 2-3 days to receive final approval, however this can be quicker based on the circumstances of each application. Some transactions have received approval within less than 24 hours.

The quickest way to apply would be to ensure you apply during normal business hours and permit us to use the advanced bank verification system link to verify your bank account information online. If you decide to upload copies of your bank accounts, it takes a bit longer.

How soon will I receive the funds?

For the Small Business Loan ($5K or more) we usually offer an answer within one hour – as long as you submit your request in normal business timings and you allow us to use the advanced bank verification system to instantly verify your bank’s information online. If you choose to upload copies of your bank statements, we’ll be able to provide an answer in just one business day.

For Larger Business Loans ($100K and up) We may be able to provide the conditional pre-approval in about 6 hours. After you’ve signed the pre-approval, the turnaround time is around 2-3 days for final approval. However, this can be faster depending on the circumstances of each application. Some transactions have received approval in less than 24 hours.

The quickest method would be to ensure you apply during standard business hours, and allow us to use the advanced bank verification system link to instantly verify your bank account information online. If you decide to upload copies of your bank accounts, it can take a bit longer.

How much can I borrow?

We provide loan amounts between $5,000 to $500,000. When you submit an application for a particular amount, we take into consideration a range of variables for determining what is the well-being of the company as well as the amount of repayments that your company will be able to support. The amount you receive from your loan will be contingent on the specifics that are unique to your company.

If you apply for a specific amount we take into consideration a variety of aspects to determine the health that is your company and the level of repayments your company can afford. The amount you receive from your loan will be contingent on the specific circumstances the business.

Fees & repayments

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

When you request one of our company loan, we’ll assess the risk assessment that you have for your business and offer an individualised offer that includes the loan amount, the terms and interest rates. This business loan is an upfront cost loan so you will be aware of the total amount due, which includes any interest rates, fees or charges.

What determines the rate that I’m charged?

Business loan interest rates vary due to factors such as the amount that is that is borrowed, what business assets the funds will be used for as well as the field the company is in, how long the business has been running as well as in the event that the company has enough cash flow to cover the loan, and general health or creditworthiness of the company.

What are the fees?

There aren’t any hidden costs with our company loans, and you’ll know exactly how much it is that you need to pay and when, from the first day. There’s no compounding and the loan comes with no additional fees (as as you make your payments on time).

We don’t charge an application fee. You can apply for a loan no cost upfront or commitment to apply.

The Origination Fee includes the expenses associated in establishing and managing the loan. You are only charged this fee if you decide to take the loan. Our Origination Fee is 2.5% of the amount of the loan.

Can I repay the loan early?

You can repay all of your loan early at any time.

If you are deciding to take this route, please call our helpful company loan specialists. They’ll provide you with details for repayment and an early payment figure. This will be calculated as the total of the principal amount remaining and the accrued interest up to the time of early payment plus 1.5% of the remaining principal plus any outstanding fees.

How do you make repayments work?

To help you avoid missing payment dates and to align with your cash flow routine, we provide payments that are either daily or weekly. They will be automatically deducted from the nominated company account.

Security & privacy

Will my information be secure?

Protecting your information, and knowing how we collect, use, exchange and ensure the security of your information is of paramount importance and a vital element of our relationship with you.

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

Yes. We utilise industry-recognised encryption techniques to protect your sensitive, personal and financial data and our funders are ISO 27001 qualified for our dedication to customer security and privacy. We make use of an advanced bank verification system that allows you to immediately verify your bank account information online so we can offer an immediate response.

About business loans

How do you define asset-based lending (a secured loan)?

Asset-based borrowing is when a company owner utilises assets they own to make the loan. The asset may be an asset belonging to the personal, like the family home, or a company property like a truck as well as a piece of machine.

The majority of the lenders not just the major banks, prefer to make loans secured by an asset. If you’re having trouble paying back the loan then the asset might be sold by the lender. In essence it is a way of securing additional financing taking advantage of the value of what you already have.

Are I require security for a business loan?

Up to $150K in loans it is not necessary to secure assets prior to the loan’s access however, we do require a personal guarantee. As long as you follow the loan terms (as specified in your loan contract document) Asset security is not needed. For loans that exceed $150K, typically, you will need personal guarantee and security in the form charges on assets.

Adelaide Business Loans Services

Unsecured Business Loans

Unsecured Business Loans

Eligibility Requirements

Eligibility Requirements

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1300 931 922