The requirements for obtaining an unsecured business loan in Adelaide of between $5K and $100K is fairly low.
Are you looking for additional funding? Find out the guidelines for eligibility for our $100K to $500K business loan.
All you need to start is your contact details (the name of your company, your name, email or phone number) as well as the amount you’d like to borrow and your monthly revenue.
During the process and before settlement we will require confirmation of your identity but not for starting:
Once we’ve started in the process, for loans of more than $150,000 you will also need fundamental financial statements:
Let’s get started.
Adelaide unsecured loans offers amounts between $5,000 and $100,000 with terms between 3 and 24 months and cash flow friendly repayments that are either daily or weekly.
It is possible to apply for this Small Business Loan in under 10 minutes online or over the phone. You’ll get an instant response and the money could be in your account in 24 hours. Traditional business loans reference an annual rate of interest plus other fees and charges. We offer a company loan is a cash-based loan therefore you’ll be aware in advance of the total amount payable including any interest, fees or charges. This is then broken down into either a daily or weekly payment amount.
The Small Business Loan can be used for nearly any company reason, such as managing cash flows, business improvements, advertising to purchase inventory or new equipment, to fund general working capital and so much more. The loan is not available for personal purposes.
The Larger Business Loan is a larger loan size to support business expansion opportunities. Loans are between $100,000 and $500,000 for a fixed period of that can last up to 36 months. Repayments are scheduled weekly or fortnightly to work with you cashflow.
The Larger Business Loan has an Origination Fee that is determined at 2.5 percentage of the amount of the loan.
In order to be eligible for a loan that is this large, your company 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) who is over the age of 18, own a New Zealand business (with a valid NZBN/IRD) and be able demonstrate at least 12 months of trading.
A large business loan can be used for almost all business need, including company remodeling, buying inventory or new equipment or as general working capital, and much more. The loan cannot be used to fund personal expenses.
Asset security is required to obtain funding above $150,000. This is in the form of a charge over assets, and could include registering this through the PPSR or filing as a caveat.
A personal or director’s guarantee is a promise to pay back a loan that is generally in nature rather than specifying the security for a particular asset. The person who is signing the ensure is personally liable in the event that the company creditor is unable to pay back the debt.
The Personal Property Securities Register (PPSR) is an online central register that is operated by the New Zealand Government. It reflects security interests registered in respect of personal property (including objects or assets). The PPSR permits priority over personal property to be granted according to the date a security interest that is registered.
Caveats are legal form of document to provide the public notice of a legal claim to a property.
If you’re seeking the Larger Business Loan that exceeds $250,000 we can offer an initial pre-approval to smooth out the process. We might be able to make this decision without a credit verification and within 6 hours of your initial application. This pre-approval is made based on a preliminary assessment which includes the answer to a series of financial health questions. It’s not an offer or guarantee of finance. Acceptance without condition is subject to an assessment of your creditworthiness and any offer that you receive could be on different terms.
You are eligible to apply for an business loan if you;
The application process is quick and easy. Just fill out the online application in just a few minutes, and a dedicated business credit specialist will call you to guide you through the process.
To be eligible for up to $100,000 you’ll require proof of identity (valid Driver’s License) along with a valid NZBN/IRD and at least 6 months’ worth of bank statements.
If you’re looking for loans with larger sizes, you’ll need:
$100K-$250K: Application details including credit consent, 6-12 months of bank statements, IRD statement (if the loan is greater than $150K).
$250K-$500K: Application details including credit consent and 12 months of bank records, IRD statement and the last two years’ finalised financial statements, as well as interim current financial year financials such as age-related payables and aged Receivables reports.
For an unsecured loan ($5K or more) we usually provide an answer within one hour, provided you apply during quality business timings and you allow us to utilise the bank verification system link to instantly verify your bank details online. If you decide to upload copies of your bank statements , we will be able to offer the decision within the span of one company day.
If you are applying for a Larger Business Loan ($100K up to $500,000) we may be in a position to provide you with a conditional pre-approval within about six hours. Once you’ve signed the pre-approval, turnaround times are approximately 2-3 days to receive final approval, however it could be faster based on the specifics of each application. Some transactions have received approval within 24 hours.
The fastest way would be to ensure you apply during standard business hours. Also, allow us to use the advance bank verification to verify your bank information online. If you decide to send us duplicates of your banking statements it will take a little longer.
For the Small Business Loan ($5K or more) We can usually offer an answer within one hour if you make your application at standard business hours and let us use the bank verification system link to instantly verify your bank information online. If you want to upload copies of your bank statements, we will be able to offer a decision in just an business day.
For Larger Business Loans ($100K or more) We may be able to offer the conditional pre-approval within 6 hours. Once you’ve signed the pre-approval form, it will take approximately 2-3 days to receive final approval. However, this may be quicker depending on the particular circumstances of each application. Certain deals have been approved in less than 24 hours.
The quickest method is to ensure you apply during normal business hours. You can also permit us to use the advance bank verification to confirm your bank details online. If you decide to upload duplicates of your banking statement, it takes a bit longer.
We offer loans ranging from $5,000 to $500,000. When you make an application for a specific amount we consider a variety of elements for determining how much we can lend you well-being that is your company and the level of repayments your company will be able to support. The amount you receive from the loan will be determined by the specific circumstances for your company.
When you submit an application for a specific amount we take into consideration a variety of factors to assess your health for your company and the level of payments your business can afford. The amount you receive from your loan will be determined by the specific circumstances for your business.
When you make an application for our company loan, we’ll assess the risk assessment for your business and provide you with a customised offer that includes the loan amount, the terms and interest rates. A business loan is an upfront priced loan which means you know in advance the total amount payable including any costs, fees, or interest rates.
Interest rates for company loans rates depend on a variety of factors such as the amount that is that is borrowed, what company assets the money are used to purchase, the industry the business is operating in, how long the business has been in operation as well as in the event that the company has sufficient cash flow to support the loan, and the general health or financial standing of the business.
There aren’t any hidden costs with our company loans. You’ll be aware of the amount it is that you need to pay, and at what time, from the first day. There’s not any compounding interest and there are no additional charges (as long as you make your payments punctually).
We don’t charge an application fee. You are able to apply for a loan without any upfront costs or any obligation to sign up.
The Origination Fee is the cost associated with the setting up and management of the loan. You are only charged this fee if you choose to proceed with the loan. The Origination Fee for us is 2.5 percent of the amount of loan.
You can repay the entire amount of the loan at any point in time.
If you are deciding to do this please talk to one of our helpful company loan experts. They will provide you with details on repayment and an early payment figure. This will be calculated as the sum of the principal remaining and the accrued interest up to the date of early payout and 1.5 percent of the principal remaining plus any outstanding fees.
In order to help you avoid missing payments and to work with your cash flow cycle we offer repayments that are either weekly or daily. They will be automatically deducted from your nominated business account.
Security of your data, and making it clear how we collect, use, exchange and safeguard your data, is crucial and an integral part of our relationship with you.
Yes. We use industry recognised encryption standards to secure your personal, sensitive and financial data and our funders are ISO 27001 qualified for our dedication to protecting the security of customers and privacy. We use an advanced banking verification system to immediately verify your bank account details online, allowing us to provide quick responses.
An asset-based loan is when the company owner borrows from an asset they own to make the funding. The asset may be an individual asset, such as the family home, or a company asset like a truck or piece or equipment.
The vast majority of lenders, even the banks with the biggest size, prefer to secure loans against an asset. If you are having difficulty paying back the loan, the asset could be transferred to the lender. In essence it is an opportunity to secure new financing using the value of what you already have.
Up to $150K in loans it is not necessary to secure assets in advance to gain access to the funds but we do need the personal guarantee. So long as you comply with your loan commitments (as detailed in your loan contract) and you are able to meet your obligations, asset security will never be required. For loans that exceed $150K, generally there is a personal guarantee and security in the form of charges on assets.
