The criteria for eligibility for an unsecured business loan in Adelaide of between $5K to $100K are quite minimal.
Need more funds? Take a look at the conditions of eligibility for our $100K-$500K company loan.
All that’s needed for starting is your contact details (company name, your name, email, phone) along with the amount you’d like to borrow and your monthly income.
While in the process and before settlement we’ll require confirmation of who you are but not for starting:
After we start, for loans that exceed $150,000, you’ll also need the following financial statements:
Let’s get started now.
Adelaide unsecured loans provides amounts between $5,000 and $100,000. Terms range from 3 and 24 month and cash flow-friendly repayments which can be made daily or weekly.
It is possible to apply to get your Small Business Loan in under 10 minutes on the internet or over the phone, receive an instant response and have the funds in your account within 24 hours. Traditional business loans have an annual rate of interest plus other fees and charges. The business loan is a pre-paid loan so you will be aware of the total amount to be paid, including the interest, fees and charges. Then, it is broken down into either weekly or daily amount to be paid back.
A Small Business Loan can be used for virtually every company need, such as cash flow management, company renovations, marketing to purchase inventory or new equipment, or as general working capital, and much more. The loan is not available for personal purposes.
The Larger Business Loan is a larger amount of loan to help company growth opportunities. Loans are between $100,000 and $500,000 with a fixed-term for up to 36 months. Repayments are weekly or fortnightly depending on the flow of cash.
The Larger Business Loan has an Origination Fee, determined at 2.5 percentage of the loan amount.
In order to be eligible for a loan of this size the company needs to have been operating for a minimum of 3 years with an annual turnover of $700,000. It is necessary to 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 demonstrate at minimum 12 months of continuous trading.
A Business Loan of a larger size can be used for almost all company purpose including business renovations, purchase of inventory or new equipment, as general working capital and much more. The loan cannot be used to fund personal expenses.
Asset security is needed for funding of more than $150,000. It’s in the form of a charge over assets and can include the registration of this in the PPSR or the registration of as 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 a particular asset. The person signing the ensure is personally accountable if the company 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 reflects security interests registered in respect of personal property (including goods or assets). The PPSR permits priority over personal property to be assigned according to the date a security interest has been registered.
An affidavit is an official document lodged to provide the public notice of a legal claim on a property.
If you’re seeking a Larger Business Loan of $250,000 or more we may be able to provide an initial pre-approval that will help simplify the process. We may be able to make this decision without a credit check, and within 6 hours of the initial application. This pre-approval is based on a preliminary assessment which includes answering a couple of financial well-being questions. It is neither an offer nor a guarantee of finance. A conditional approval is subject a full credit assessment and any offer that you receive could be on different terms.
You may apply for a company loan if you;
The application process is quick and simple. Just fill out the online application in just a few minutes, and an experienced business expert in lending will be in touch to guide you.
For a loan of up to $100,000 you’ll need proof of identity (valid Driver’s License) as well as an NZBN/IRD that is valid and at least 6 months’ worth of bank statements.
Otherwise, for larger loan sizes, you’ll require:
$100K to $250K: Details of application, including credit consent, 6 – 12 months of IRD statements, bank statements (if loan above $150K).
$250K to $500K: Information on the application including credit consent and 12 month bank accounts, the IRD statements as well as the two most recent years’ financial statements, and interim financials for the current financial year as well as Aged Payables and Receivables reports.
For an unsecured loan ($5K or more) we usually offer a response in one hour, provided you submit your request within standard company hours and let us use the advanced bank verification system link to immediately verify your bank account information online. If you want to send us copies of your bank statements , we are able to provide the decision within an business day.
For the Larger Business Loan ($100K and up) we could be able to offer you with pre-approval conditional to your application in about six hours. Once you’ve signed the pre-approval form, it will take approximately 2-3 days to receive final approval. However, this can be quicker based on the circumstances of each application. Some deals have been approved within the space of 24 hours.
The quickest way to apply for you to apply is make sure you apply during standard business hours. You can also allow us to use our advanced bank verification system link to check your bank’s information online. If you choose to send us copies of your bank statement, it may take a bit longer.
For the Small Business Loan ($5K up to $100,000) we typically provide an answer within an hour – provided you submit your request within standard business hours and let us utilise the advanced bank verification system to instantly verify your bank’s information online. If you choose to submit copies of your bank statement, we’ll offer the decision within one business day.
If you are applying for Larger Business Loans ($100K to $500K) we may be likely 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 around 2-3 days for final approval. However, this could be shorter based on the specifics of each application. Certain agreements have been approved within less than 24 hours.
The fastest way for you to apply is ensure you apply during standard business hours and permit us to use the modern bank verification link to confirm your bank details online. If you decide to upload duplicates of your banking statement, it takes a bit longer.
We provide loan amounts between $5,000 to $500,000. If you apply for a particular amount, we consider a variety of factors in order to assess how much we can lend you health for your company and the amount of the repayments your company can support. The total amount of your loan will be contingent on the specifics that are unique to your company.
When you make an application for a specific amount we consider a variety of elements to determine your health that is your business as well as the amount of repayments that your business is able to afford. The amount you receive from your loan will be determined by the specifics the company.
When you apply for our business loan, we will assess the risk assessment of your business and offer you with a customised offer including loan amount, term and the interest rates. The company loan is an upfront cost loan therefore you will know the exact amount to be paid, including any charges or interest.
The interest rates on company loans rates depend on several variables like the amount to be that is borrowed, what business assets the funds are used to purchase in addition to the industry that the business operates in, how long the company is in operation for, what percentage of the company has sufficient cash flow to cover the loan, and also the general health or creditworthiness of the business.
There are no hidden costs with our company loans, and you’ll be aware of the amount you’ll need to pay and when, right from the very first day. There’s no compounding interest, and there are no additional charges (as long as you make your payments in time).
We don’t charge an application fee. You are able to apply for a loan with with no upfront cost or any obligation to sign up.
The Origination Fee is the cost associated with setting up and managing the loan. It is only charged for this cost if you take out the loan. Our Origination Fee is 2.5% of the amount of the loan.
You may choose to pay back the entire amount of the advance loan at any time.
If you decide to pursue this option, please speak to our friendly business lending specialists. They will provide you with repayment details and an early payout figure. It will be calculated using the total of the principal remaining and the accrued interest up to the date of early payout plus 1.5 percent of the remaining principal and any outstanding fees.
To help you avoid missing payment dates and to align your cash flow cycle we provide repayments either weekly or daily. They are automatically deducted from the nominated company account.
Security of your data, and being transparent about the ways we gather, use, exchange and ensure the security of your information is of paramount importance and is an essential part of our relationship with you.
Yes. We utilise industry-recognised encryption techniques to protect your sensitive, personal financial information and our funders are ISO 27001 qualified for our dedication to customer security and privacy. We employ a highly sophisticated banking verification system to instantly confirm your bank account information online. This allows us to provide rapid response.
The term "asset-based" refers to borrowing where the company owner uses the assets they have to make a loan. The asset may be a personal asset like the family home, or an company asset like a truck or piece or equipment.
The majority of lenders, including the big banks, tend to secure loans against an asset. If you’re struggling to pay back the loan, then your asset may be offered for sale by the lender. In essence, it’s means of securing new financing making use of the value of what you already own.
For loans that exceed $150,000, it is not necessary to secure assets in advance to gain access to the funds However, we do need a personal guarantee. In the event that you fulfill your loan obligations (as detailed in the loan contract) Asset security is not needed. For loans over $150,000 generally there is personal guarantee and security that is in the form charges on assets.
