The requirements for obtaining an unsecured business loan in Adelaide of between $5K and $100K are pretty minimal.
Do you require more money? Review the guidelines for eligibility for our $100K-$500K company loan.
All that is needed to begin is your contact information (the name of your company, your name, email and phone), how much you want to borrow, and your monthly income.
In the course of the process and before settlement we’ll need confirmation of who you are, however, not in order to begin:
After we start in the process, for loans that exceed $150,000, you’ll need basic financial statements:
Let’s get started.
Adelaide unsecured loans offers amounts between $5,000 and $100,000. Terms range from 3 and 24 months and cash flow friendly repayments that are either daily or weekly.
Apply for the Small Business Loan in under 10 minutes on the internet or over the phone. You’ll get an instant response and have the funds in your account in 24 hours. Traditional company loans have an annual interest rate along with other charges and fees. The business loan is a pre-paid loan therefore you’ll know ahead of time the total amount payable including any interest, fees or charges. This is then broken down into either a daily or weekly amount to be paid back.
The Small Business Loan can be used for almost every company need, such as cash flow management, business remodels and marketing for purchasing inventory or new equipment, for general working capital, and much more. The loan cannot be used to fund personal expenses.
The Larger Business Loan is a larger size loan to aid in business expansion opportunities. Loans range from $100,000 to $500,000 for a fixed period of that can last up to 36 months. Repayments are scheduled weekly or fortnightly, depending on your cash flow.
A Larger Business Loan has an Origination Fee which is calculated at 2.5 percentage of the amount of the loan.
To qualify for a loan of this size the company needs to be in operation for at least 3 years and generate an annual revenue of $700K. You must be a New Zealand Citizen (or Permanent Resident) with a minimum age of 18 years old as well as own a New Zealand company (with a valid NZBN/IRD) and be able of proving at minimum 12 months of continuous trading.
A large company loan is a great option for almost every business need, including business renovations, to purchase equipment or inventory, as general working capital and much more. The loan cannot be used for personal use.
Asset security is necessary for funding of more than $150,000. This is as a result of an charge on assets, and may include the registration of this in the PPSR or filing as a caveat.
A director’s or personal ensure is a promise to repay credit that is generally in nature rather than stating security over a particular asset. The person signing the ensure is personally responsible if the business the borrower fails to make the repayment.
The Personal Property Securities Register (PPSR) is a central, national online register run by the New Zealand Government. It contains security interests registered in respect of personal property (including items or assets). The PPSR allows prioritisation over property that is personal to be assigned according to the date a registration of a security interest.
A caveat is a legal form of document to provide notice of a legal claim on a property.
If you’re applying for the Larger Business Loan of $250K 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 six hours of your initial application. This pre-approval is based on an initial assessment that includes answering a couple of financial well-being questions. This is not an offer or guarantee of finance. The approval of a conditional loan is subject to an assessment of your creditworthiness and any offer you are offered could be based on different terms.
You may apply for an company loan if you;
The application process is quick and simple. Complete the online form within a couple minutes, and an experienced business credit specialist will call you to guide you through the process.
To be eligible for up to $100,000, you’ll require the right identification documents (valid Driver’s Licence), an active NZBN/IRD, and at least six months of bank statements.
In addition, for larger loan sizes, you’ll need:
$100K-$250K: Details of application, including credit consent, 6 – 12 months of IRD statements, bank statements (if the loan is greater than $150K).
$250K to $500K: Information on the application including credit consent as well as 12 months bank statement, an IRD statements as well as the two most recent years’ financial statements, plus interim financials from the current financial year as well as Aged Payables and Receivables reports.
For an unsecured loan ($5K and up) we can often offer an answer in just one hour if you submit your request within standard company times and let us utilise the bank verification system link to instantly verify your bank information online. If you decide to submit copies of your bank statements , we will be able to offer the decision within just 1 business day.
For the Larger Business Loan ($100K or more) we may be capable of provide you with conditional pre-approval within six hours. After you’ve signed your pre-approval document, you will require to wait about 2-3 days for final approval, however it could be faster based upon the circumstances for each application. Some agreements have been approved in less than 24 hours.
The quickest way to apply is to make sure you apply during normal business hours. You can also allow us to use our advance bank verification link to check your bank’s information online. If you choose to upload copies of your bank statements it takes a bit longer.
For the Small Business Loan ($5K and up) We can usually offer an answer in just one hour, provided you submit your request in standard business times and permit us to use the bank verification system link to immediately verify your bank account information online. If you want to upload copies of your banking statements, we are able to provide an answer in just an business day.
If you are applying for Larger Business Loans ($100K or more) we might be capable of provide you with a conditional pre-approval in about six hours. Once you’ve signed the pre-approval, the turnaround time is approximately 2-3 days to receive final approval, however this can be faster depending on the particular circumstances of each application. Some deals have been approved within just 24 hours.
The quickest method is to ensure you apply during normal business hours and let us use the modern bank verification link to instantly verify your bank account information online. If you decide to send us documents from your account statements, it will take a little longer.
We offer the loan amount between $5,000 to $500,000. If you apply for a certain amount, we look at a variety of aspects to determine what is the health for your company and the amount of repayments that your business will be able to support. The total amount of the loan will be determined by the specific circumstances the company.
When you make an application for a particular amount, we will consider a number of variables to assess the health for your company as well as the amount of repayments that your business is able to afford. The amount you receive from the loan will be determined by the particulars the business.
If you decide to make an application for the company financing, we will assess the risk assessment that you have for your business and offer an individualised offer including loan amount, term and the interest rates. A business loan is a loan that is priced upfront so you will be aware of the total amount payable including any costs, fees, or interest rates.
The interest rates on business loans rates depend on a variety of variables like the amount to be borrowed, the business assets the funds will be used for as well as the field the business operates in, the long the business has been running and in the event that the company has sufficient cash flow to support the loan, and general health or creditworthiness of the business.
There aren’t any hidden costs with our company loans, and you’ll know precisely how much it is that you need to pay and when, starting from the very first day. There’s no compounding interest, and no extra fees (as long as you make your payments in time).
We don’t charge an application fee. You can make an application for loans with without any upfront costs or commitment to apply.
The Origination Fee is the cost associated with the setting up and management of the loan. It is only charged for this fee if you choose to proceed with the loan. The Origination Fee for us is 2.5 percentage of the amount of loan.
You may choose to pay back the entire amount of your loan at any point in time.
If you do decide to pursue this option, please contact our helpful company credit specialists. They will provide you with the details of your repayment along with an early payout estimate. This will be calculated as the sum of the principal remaining and any accrued interest at the time of early payment, plus 1.5 percent of the principal remaining and any outstanding fees.
To help you avoid missing payment dates and to align with your cash flow cycle we provide payments that are either weekly or daily. These are automatically withdrawn from your company account.
The security of your personal information, as well as being transparent about how we collect information, use it, and exchange it, as well as protect your information, is of paramount importance and is a crucial part of our relationship with you.
Yes. We use industry recognised encryption techniques to protect your personal, sensitive financial and other data. Our funders are ISO 27001 certified for our dedication to protecting the security of clients and security. We utilise a sophisticated bank verification system to instantly confirm your bank account information online. This allows us to offer rapid response.
Asset-based borrowing is when the business owner makes use of assets they own to make the loan. The asset can be either an asset belonging to the personal, like the family home, or an business property like a truck as well as a piece of machine.
The majority of banks, including the banks with the biggest size, prefer to guarantee loans against assets. If you have trouble paying back the loan then your assets could be taken over by the lender. In essence, it’s a way of securing new financing by taking advantage of the value of what you already own.
For loans that exceed $150K, no asset security is required upfront to access the money however, we do require a personal guarantee. So long as you comply with the terms of your loan (as detailed in your loan contract document), asset security will never be needed. For loans that exceed $150K, typically, you will need an individual guarantee and security in the form of the charge of assets.
