The eligibility requirements for an unsecured business loan in Adelaide of between $5K and $100K are fairly minimal.
Need more funds? Check out the guidelines for eligibility for our $100K to $500K business credit.
All you need to get started is your contact details (the name of your company, your name, email or phone number), how much you’d like to lend, and your monthly income.
While in the process and before settlement we will require confirmation of who you are, but not to get started:
Once we’ve started when it comes to loans that exceed $150,000, you’ll also require basic financial statements.
Let’s get started now.
Adelaide unsecured loans offers amounts of between $5,000 and $100,000. Terms range from 3 and 24 month and cash flow friendly repayments that are either daily or weekly.
You can apply to get the Small Business Loan in under 10 minutes online or on the phone. You’ll receive an immediate response, and have the funds on your account within 24 hours. Traditional company loans refer to an interest rate per annum as well as other fees and charges. The business loan is a cash-based loan therefore you’ll be aware of the amount you will have to pay, including any interest, fees or charges. This is then divided into a daily or weekly installment amount.
The Small Business Loan can be used for almost every business need, such as managing cash flows, business remodeling, marketing for purchasing inventory or new equipment, to fund general working capital and so much more. The loan cannot be used to fund personal expenses.
The Larger Business Loan is a larger size of loan that can be used to fund company growth opportunities. Loans range between $100,000 and $500,000 with a term fixed that can last up to 36 months. The repayments are made weekly or fortnightly depending on your cash flow.
A Larger Business Loan has an Origination Fee, determined at 2.5 percent of the amount of the loan.
To qualify for a loan that is this large the company needs to have been in operation for at least 3 years with an annual turnover of $700,000. The applicant must also be a New Zealand Citizen (or Permanent Resident) with a minimum age of 18 years old, own a New Zealand company (with a valid NZBN/IRD) and be able demonstrate at minimum 12 months of continuous trading.
A Larger Business Loan can be used for almost any company need, including company improvements, purchasing inventory or new equipment or as general working capital and so much more. The loan cannot be used for personal use.
Asset security is necessary for accessing funds over $150,000. It’s in the form of a charge against assets, and may include the registration of this with the PPSR or the registration of a caveat.
A personal or director’s ensure is a commitment to repay credit that is generally in nature rather than stating security over a particular asset. The person who signs the ensure is personally accountable if the business lender is not able to make the repayment.
The Personal Property Securities Register (PPSR) is an online central register operated by the New Zealand Government. It records security interests that have been granted to individuals who own personal property (including goods or assets). The PPSR grants preference over private property assigned according to the date the security interest was registered.
The caveat can be described as a formal document filed to offer the legal claim to property.
When you’re applying for an enterprise loan of $250K or more, we may offer a preliminary pre-approval to help make the process. We may be able to make this decision without credit checks and within six hours of your initial application. The pre-approval is based upon an initial assessment that includes answering a couple of financial well-being checks. It’s in no way an offer, nor is it a guarantee of funds. The approval of a conditional loan is subject to an exhaustive credit evaluation, and any offer you receive could be subject to different terms.
You may apply for an company loan if you:
The process for applying is fast and simple. Simply complete the online form in just a few minutes, and an experienced company loan specialist will call you to assist you.
To apply for up to $100,000 you’ll need ID details (valid Driver’s License) along with a valid NZBN/IRD and at least six months of bank statements.
For larger loan sizes, you’ll need:
$100K to $250K: Application details including credit consent, 6 – 12 months of bank statements, IRD statement (if credit is over $150K).
$250K – $500K: Details for application including credit consent twelve months of bank statements, IRD statements and the last two 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 can often offer an answer within an hour – as long as you make your application in quality company times and allow us to use the advanced bank verification system to instantly verify your bank details online. If you want to upload copies of your banking statements , we will be able to provide an answer in as little as one 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 around 6 hours. Once you have signed the pre-approval form, it will take between 2 and 3 days for the final approval, however this may be quicker depending on the circumstances of each application. Some offers have been approved in just 24 hours.
The most effective method for you to apply is make sure you apply during standard company hours and allow us to use our modern bank verification link to instantly verify your bank account information online. If you decide to upload copies of your bank statements it takes a bit longer.
For the Small Business Loan ($5K up to $100,000) we usually provide an answer in just one hour – provided you submit your request in standard business hours and permit us to utilise the advanced bank verification system to instantly verify your bank details online. If you want to upload copies of your banking statements we can provide an answer in as little as an business day.
For the Larger Business Loans ($100K and up) we may be in a position to provide you with pre-approval conditional to your application within about 6 hours. After you’ve signed the pre-approval, turnaround times are about 2-3 days for final approval. However, this could be shorter based upon the circumstances for each application. Certain transactions have received approval in less than 24 hours.
The fastest method would be to ensure you apply during normal business hours, and let us use the sophisticated bank verification to instantly confirm your bank details online. If you decide to upload copies of your bank statement, it can take a bit longer.
We provide loan amounts between $5,000 and $500,000. If you apply for a certain amount, we will consider a number of elements to determine what is the health for your company as well as the amount of payments your company will be able to support. The total amount of your loan will be contingent on the particular circumstances that are unique to your business.
If you apply for a set amount, we take into consideration a variety of aspects to assess how much we can lend you such as health of your business 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 company.
If you decide to make an application for one of our business financing, we’ll assess the risk profile for your company and provide you with a customised offer, including loan amount, term and the interest rates. The company loan is a loan that is priced upfront and you’ll be aware in advance of the total amount to be paid, including any costs, fees, or interest rates.
The interest rates on business loans rates depend on several factors such as the amount that is borrowed, the business assets the money will be used for in addition to the industry that the business is operating in, how long the company is in operation as well as whether the company has sufficient cash flow to support the loan, and general health or financial standing of the company.
There are no hidden fees with our company loans, and you’ll know precisely what you’ll be required to pay, and when, right from the first day. There’s no compounding interest, and no additional fees (as as long as you pay your payments in time).
We don’t charge an Application Fee. You can apply for a loan with without any upfront costs or any obligation to sign up.
The Origination Fee covers the costs associated with the setting up and management of the loan. The only way to pay this fee if you choose to proceed with the loan. The Origination Fee for us is 2.5 percent of the amount of the loan.
You may choose to pay back all of your loan in full at any time.
If you do decide to take this route, please call our helpful company credit specialists. The specialists will provide you with the details of your repayment and an early payment figure. This is calculated as the total of the principal amount remaining and accrued interest to the time of early payout in addition to 1.5% of the principal amount remaining plus any outstanding fees.
To ensure that you don’t miss due dates and also to be in line your cash flow schedule, we provide payments that are either daily or weekly. They will be automatically deducted from the nominated company account.
Protecting your information, and knowing how we collect the information we collect, use, share and ensure the security of your information is crucial and a vital aspect of our relationship with you.
Yes. We employ industry-recognised encryption protocols to safeguard your sensitive, personal as well as financial data. Our funders are ISO 27001 certified for our commitment to protecting the security of clients and security. We use an advanced banking verification system to instantly verify the bank account details online. This allows us to provide an immediate response.
The term "asset-based" refers to borrowing where a business owner utilises assets they own to obtain a loan. The asset can be either an individual asset, such as the family home or a company asset like a truck or piece or equipment.
The majority of lending institutions, not just the big banks, tend to make loans secured by an asset. If you have trouble paying back the loan, the asset might be transferred to the lender. In essence it’s a way of securing new funding making use of the value of what you already own.
Up to $150K in loans it is not necessary to secure assets in advance to gain access to the funds, however we do need an individual guarantee. If you adhere to the loan terms (as specified in the loan contract) the security of assets will never be needed. For loans of over $150K generally, there is personal guarantee and security is provided in the form of charges on assets.
