The criteria for eligibility for an unsecured business loan in Adelaide of between $5K and $100K are fairly minimal.
Looking for more funding? Take a look at the guidelines for eligibility for our $100K to $500K business financing.
All that’s needed to begin is your contact information (company name and your name, as well as email or phone number) as well as the amount you’d like to lend, as well as your monthly income.
While in the process and before settlement we will need confirmation of your identity but not before we can begin:
After we start in the process, for loans that exceed $150,000, you’ll also need basic financial statements:
Let’s get started.
Adelaide unsecured loans offers the range of $5,000 to $100,000. Terms range from 3 and 24 months. They also offer cash flow friendly repayments that are either per day or weekly.
Apply to this Small Business Loan in under 10 minutes via the internet or by phone. You will receive an immediate response, and have the funds on your account within 24 hours. Traditional company loans reference an interest rate per annum as well as other fees and charges. The business loan is a loan that is priced upfront which means you know ahead of time the total amount due, which includes the interest, fees and charges. Then, it is broken down into weekly or daily payment amount.
A Small Business Loan can be used to fulfill almost every business reason, such as cash flow management, business renovations, marketing for purchasing inventory or new equipment, to fund general working capital and so much more. The loan cannot be used for personal reasons.
The Larger Business Loan is a larger amount of loan to help company expansion opportunities. Loans are between $100,000 and $500,000 with a fixed-term up to 36 months. Repayments are weekly or fortnightly to work with your situation.
The Larger Business Loan has an Origination Fee that is calculated at 2.5 percentage of the loan amount.
In order to be eligible for a loan of this size the business 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) with a minimum age of 18 years old and have a New Zealand business (with a valid NZBN/IRD) and be able to prove at the least 12 months of operating.
A large business loan is a great option for almost all company purpose including business remodeling, buying equipment or inventory for general working capital, and much more. The loan is not available for personal reasons.
Asset security is necessary to access funding over $150,000. This is in the form of a charge on assets, which could also include registering this through the PPSR or filing as a caveat.
A director’s or personal ensure is a guarantee to repay a loan which is general in nature, rather than stipulating security over a particular asset. The person who signs the guarantee is personally liable in the event that the business the borrower fails to re-pay the debt.
The Personal Property Securities Register (PPSR) is a central, national online register run by the New Zealand Government. It lists security interests that are registered in respect of personal property (including objects or assets). The PPSR allows the priority of personal property granted according to the date the registration of a security interest.
A caveat is a legal document filed to provide the legal claim against a property.
If you’re requesting an enterprise loan of $250,000 or more we can offer an initial pre-approval that will help simplify the process. We may be able to do this without a credit check and within 6 hours of the initial application. This pre-approval is based on an initial assessment that includes you answering a few financial health questions. This is not an offer of credit or guarantee of finance. Acceptance without condition is subject to an exhaustive credit evaluation, and any offer you may receive may have different terms.
You are eligible to apply for a business loan if you
The application process is quick and simple. Complete the online form in few minutes and an experienced company credit specialist will contact you to guide you through the process.
To apply for up to $100,000 you’ll need proof of identity (valid Driver’s License) along with an NZBN/IRD that is valid and at least 6 months of bank statements.
Otherwise, for larger loan sizes, you’ll also 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 of bank records, IRD statements Last 2 years’ finalised financial statements, as well as interim financials for the current financial year, Aged Payables and Aged Receivables reports.
For an unsecured loan ($5K and up) we typically provide a response in one hour if you submit your request in quality company times and let us use the advanced bank verification system link to instantly verify your bank details online. If you decide to submit copies of your bank statement, we’ll offer the decision in as little as one company day.
For the Larger Business Loan ($100K to $500K) we might be able to offer the conditional pre-approval in around 6 hours. After you’ve signed your pre-approval document, you will require to wait between 2 and 3 days for the final approval, however this could be shorter based on the particular circumstances of each application. Some agreements have been approved in less than 24 hours.
The fastest way would be to ensure you apply during normal company hours. Also, allow us to use the advance bank verification link to confirm your bank details online. If you opt to upload the copies of bank accounts, it can take a bit longer.
For the Small Business Loan ($5K up to $100,000) we typically provide an answer in just one hour if you make your application at normal business times and allow us to use the bank verification system link to immediately verify your bank account information online. If you choose to upload copies of your banking statements, we’ll be able to provide an answer in just one business day.
For Larger Business Loans ($100K or more) we could be likely to offer you with conditional pre-approval within 6 hours. Once you’ve signed your pre-approval document, you will require to wait approximately 2-3 days to receive final approval, however this can be faster depending on the particular circumstances of each application. Certain deals have been approved in less than 24 hours.
The most effective method would be to make sure you apply during normal business hours and allow us to use our modern bank verification to instantly verify your bank account information online. If you choose to send us the copies of bank accounts, it may take a bit longer.
We provide loan amounts between $5,000 to $500,000. When you make an application for a certain amount, we consider a variety of variables that determine how much we can lend you well-being for your business and the extent of repayments that your business can support. The total amount of your loan will depend on the particular circumstances of your company.
If you apply for a set amount, we look at a range of aspects to determine how much we can lend you such as well-being for your company and the level of payments your business will be able to support. The total amount of your loan will depend on the particular circumstances the company.
If you decide to make an application for business loans with us business loans, we will assess the risk assessment of your business and provide an individualised offer, including loan amount, term and the interest rates. It is a company loan is an upfront cost loan so you will know the exact amount to be paid, including any charges, interest rates or fees.
Business loan interest rates depend on several factors like the amount of money that is borrowed, what business assets the funds are used to purchase, the industry the company is operating in, how long the company has been in operation for, how long the company has enough cash flow to support the loan, and the overall well-being or creditworthiness of the business.
There aren’t any hidden costs for our company loans, and you’ll be aware of the amount you’ll be required to pay, and when, starting from day one. There’s no compounding interest, and no additional fees (as long as you make your payments on time).
We do not charge an Application Fee. You can make an application for loans with absolutely no upfront cost and no any obligation to sign up.
The Origination Fee includes the expenses associated with the setting up and management of the loan. You are only charged this fee if you proceed with the loan. Our Origination Fee is 2.5% of the amount of loan.
You can choose to repay the entire amount of your loan early at any time.
If you do decide to take this route, please contact our helpful business lending experts. They’ll provide you with the details of your repayment along with an early payout estimate. This is calculated as the total of the principal remaining and accrued interest to the time of early payment and 1.5 percent of the remaining principal and any fees that remain unpaid.
In order to help you avoid missing payment dates and to align your cash flow cycle we offer repayments either weekly or daily. These are automatically withdrawn from your company account.
Protecting your information, and making it clear the ways we gather data, process, exchange and safeguard your data, is vital and a vital part 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 dedication to security for our customers and privacy. We make use of an advanced bank verification system to instantly verify your bank account information online, allowing us to provide an immediate response.
The term "asset-based" refers to borrowing where an business owner borrows from an asset that they own to obtain a loan. The asset can be an individual asset, such as the family home, or it could be a company property like a truck or piece or equipment.
The majority of lenders, not just the big banks, tend to guarantee loans against assets. If you’re having trouble paying back the loan, your asset may be transferred to the lender. In essence, it is a way of securing new financing by making use of the value of what you already own.
For loans of up to $150K, there is no requirement for asset security upfront to access the money however, we do need a personal guarantee. So long as you comply with your loan obligations (as detailed in your loan contract), asset security will never be needed. For loans of over $150,000 generally, there is the option of a personal guarantee and security that is in the form an asset charge.
