The eligibility requirements 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 company loans.
All that is needed to start is your contact information (company name, your name, email address and telephone) along with the amount you’d like to borrow and your monthly revenue.
During the process and before settlement we’ll require confirmation of who you are but not before we can begin:
Once we’ve started with loans of more than $150,000 you’ll also require basic financial statements.
Let’s get started now.
Adelaide unsecured loans offers amounts between $5,000 and $100,000 with terms between 3 and 24 months and cash flow-friendly repayments, which are either daily or weekly.
You can apply to get the Small Business Loan in under 10 minutes on the internet or on the phone. You’ll receive an answer within the same day and the funds could be on your account within 24 hours. Traditional company loans refer to an annual rate of interest as well as other fees and charges. Our business loan is a loan that is priced upfront and you’ll know ahead of time the total amount to be paid, including any fees, interest or charges. This is then broken down into either a daily or weekly payment amount.
The Small Business Loan can be used to fulfill almost any company reason, such as the management of cash flow, company remodeling, marketing for purchasing inventory or new equipment, or as general working capital and much more. The loan cannot be used for personal use.
The Larger Business Loan is a larger loan size to support business growth opportunities. The loan ranges from $100,000 to $500,000 for a fixed period of up to 36 months. The repayments are made weekly or fortnightly to work with your situation.
It is crucial to note that the Larger Business Loan has an Origination Fee, calculated at 2.5 percentage of the loan amount.
In order to be eligible for a loan that is this large the business needs to be operating for at least three years with an annual turnover of $700,000. The applicant must also be a New Zealand Citizen (or Permanent Resident) who is over the age of 18 and have a New Zealand business (with a valid NZBN/IRD) and be able demonstrate at minimum 12 months of business.
A Business Loan of a larger size can be used for nearly all business use, including business renovations, to purchase new equipment or inventory or as general working capital and much more. The loan is not available for personal purposes.
Asset security is required for accessing funds over $150,000. This can be done as a result of an charge against assets, which could also include registering this with the PPSR or registering a caveat.
A director’s or personal guarantee is a promise to pay off a credit line that is generally in nature rather than specifying security over an asset. The person who is signing the guarantee is personally responsible if the business the borrower fails to pay back the debt.
The Personal Property Securities Register (PPSR) is an online central registry run by the New Zealand Government. It records security interests that have been which are registered with respect to personal property (including objects or assets). The PPSR grants the priority of personal property granted according to the date the security interest was registered.
The caveat can be described as a formal document that is filed to offer the legal claim on a property.
If you’re applying for larger company loans of $250,000 or more, we may offer a preliminary pre-approval to help make the process. It is possible to get this done without a credit verification and within 6 hours of your initial application. The pre-approval is based upon an initial evaluation that involves you answering a few financial health questions. This is not an offer of credit or guarantee of financing. Acceptance without condition is subject to an assessment of your creditworthiness and any offer that you are offered could be on different conditions.
You are eligible to apply for a company loan if you;
The application process is fast and easy. Just fill out the online application in few minutes and an experienced company credit specialist will be in touch to assist you.
To apply for up $100,000, you’ll need the right identification documents (valid Driver’s Licence) along with an NZBN/IRD that is valid and at least 6 months’ worth of bank statements.
If you’re looking for loans with larger sizes, you’ll require:
$100K – $250K: Information about the application including credit consent, 6-12 months of bank statements, IRD statement (if credit is over $150K).
$250K-$500K: Application details including credit consent and 12 month bank accounts, the IRD statements Last 2 years’ finalised financial statements, and interim financials from the current financial year, Aged Payables and Aged Receivables Summary.
For an unsecured loan ($5K to $100K) we typically provide a response in one hour – as long as you make your application at standard company timings and let us use the advanced bank verification system link to instantly verify your bank information online. If you opt to submit copies of your bank statements , we are able to offer a decision in just the span of one business day.
For the Larger Business Loan ($100K up to $500,000) we could be capable of offer you with conditional pre-approval within six hours. After you’ve signed your pre-approval form, it will take between 2 and 3 days for the final approval, however it could be faster based on the particular circumstances of each application. Some deals have been approved in the space of 24 hours.
The quickest method would be to make sure you apply during normal business hours. Also, allow us to use the modern bank verification link to confirm your bank details online. If you send us documents from your account statements , it may take a bit longer.
For the Small Business Loan ($5K up to $100,000) we can often provide an answer within an hour – provided you make your application at standard business hours and let us use the advanced bank verification system link to instantly verify your bank information online. If you want to submit copies of your bank statements, we’ll be able to offer an answer in just one business day.
If you are applying for Larger Business Loans ($100K or more) we could be likely to provide you with pre-approval conditional to your application in about six hours. Once you’ve signed your pre-approval, the turnaround time is around 2-3 days for final approval, however this can be faster depending on the specifics of each application. Certain deals have been approved within 24 hours.
The fastest way is to make sure you apply during normal business hours. You can also let us use the advanced bank verification system link to instantly confirm your bank details online. If you decide to send us copies of your bank statement, it may take a bit longer.
We provide loan amounts between $5,000 to $500,000. When you submit an application for a certain amount, we consider a variety of elements to determine your well-being for your business and the extent of repayments your business can afford. The total amount of your loan will be contingent on the specific circumstances for your company.
When you apply for a specific amount we will consider a number of factors to determine how much we can lend you such as well-being of your company and the level of the repayments your company will be able to support. The total amount of your loan will be contingent on the specific circumstances the business.
If you decide to make an application for the company credit, we will assess the risk profile the company and provide you with a tailored offer including the amount of loan, the term and the interest rates. This business loan is an upfront priced loan which means you be aware in advance of the total amount to be paid, including any charges, interest rates or fees.
Interest rates for business loans rates depend on several factors including the amount of money borrowed, the business assets the money are used to purchase as well as the field the business is operating in, how long the company has been in operation as well as what percentage of the business has sufficient cash flow to cover the loan, and overall health or financial standing of the company.
There are no hidden costs with our company loans. You’ll know precisely what you need to pay, and when, from the very first day. There’s no compounding and the loan comes with no additional fees (as long as you are able to make your payments in time).
We do not charge an Application Fee. You can apply for a loan with with no upfront cost or commitment to apply.
The Origination Fee is the cost associated with establishing and managing the loan. You are only charged this cost if you take out the loan. Our Origination Fee is 2.5% of the amount of the loan.
You can repay the entire amount of your loan early at any time.
If you choose to pursue this option, please contact our helpful company lending experts. We will offer you with repayment details and an early payment figure. This will be calculated as the sum of the principal amount remaining and any accrued interest at the time of early payout plus 1.5% of the principal amount remaining plus any outstanding fees.
In order to help you avoid missing due dates and also to be in line your cash flow cycle we provide repayments either weekly or daily. They are automatically deducted from your nominated company account.
Making sure that your information is secure, and being clear about how we collect information, use it, and exchange it, as well as ensure the security of your information is vital and an integral element of our relationship with you.
Yes. We employ industry-recognised encryption standards to secure your sensitive, personal as well as financial data. Our funders are ISO 27001 certified for our commitment to the security of our customers as well as their security. We employ an exceptionally sophisticated bank verification system to immediately verify your bank account information online to provide an immediate response.
An asset-based loan is when an business owner borrows from an asset that they own to obtain the funding. The asset could be an individual property, such as the family home, or it could be a company asset like a truck or piece or equipment.
The vast majority of the lenders including the major banks, prefer to secure loans against assets. If you are having difficulty paying back the loan then the asset could be transferred to the lender. In essence, it’s an opportunity to secure new funding making use of the value of what you already have.
For loans of up to $150K, it is not necessary to secure assets before you are able to access the money, however we require a personal guarantee. need the personal guarantee. If you adhere to the terms of your loan (as specified in your loan contract document) Asset security is not needed. For loans of over $150K generally, you are able to get the option of a personal ensure and security is provided in the form of the charge of assets.
