The requirements for obtaining an unsecured business loan in Adelaide of between $5K and $100K are fairly minimal.
Do you require more money? Check out the guidelines for eligibility for our $100K-$500K company credit.
All that’s needed to start is your contact details (the name of your company, your name, email address or phone number) and the amount you want to borrow, and your monthly revenue.
While in the process and before settlement we will require confirmation of who you are, but not for starting:
In addition, once we have started, for loans over $150,000 you’ll also require basic financial statements.
Let’s get started.
Adelaide unsecured loans offers amounts of between $5,000 and $100,000, with terms ranging from 3 and 24 months and cash flow friendly repayments, which are either daily or weekly.
Apply for the Small Business Loan in under 10 minutes via 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 refer to an annual rate of interest along with other charges and fees. This business loan is a cash-based loan therefore you’ll know ahead of time the amount you will have to pay, including any interest, fees or charges. Then, it is divided into a daily or weekly installment amount.
It is a Small Business Loan can be used to fulfill almost every company need, such as managing cash flows, business renovations, marketing to purchase inventory, new equipment, to fund general working capital and much more. The loan is not available for personal use.
The Larger Business Loan is a larger amount of loan to help company growth opportunities. Loans range from $100,000 to $500,000 with a term fixed for up to 36 months. Repayments are weekly or fortnightly depending on your situation.
This Larger Business Loan has an Origination Fee, which is calculated at 2.5 percentage of the amount of the loan.
In order to be eligible for a loan in this amount the company needs to be trading for at least 3 years with an annual turnover of at least $700,000. The applicant must also be a New Zealand Citizen (or Permanent Resident) who is over the age of 18 as well as own a New Zealand business (with a valid NZBN/IRD) and be able demonstrate at minimum 12 months of business.
A larger business loan is a great option for almost any business purpose including company renovations, purchase of inventory or new equipment, as general working capital and so much more. The loan is not available to fund personal expenses.
Asset security is required to obtain funding above $150,000. This is by way of charge against assets, and may include registration through the PPSR or making as a caveat.
A personal or director’s guarantee is a guarantee to repay credit that is general in nature rather than stating security over a particular asset. The person who is signing the guarantee is personally liable in the event that the company creditor is unable to make the repayment.
The Personal Property Securities Register (PPSR) is an online central registry run by the New Zealand Government. It contains security interests which are registered with respect to personal property (including items or assets). The PPSR gives preference over private property granted depending on the date that a security interest was registered.
Caveats are legal form of document to provide an official notice of a claim against a property.
When you’re applying for a Larger Business Loan of $250K or more we may be able to provide an initial pre-approval to smooth out the process. We may be able to get this done without credit checks and within 6 hours of your initial application. The pre-approval process is based on an initial assessment, which involves answering a couple of financial well-being questions. It is not an offer of credit or guarantee of financing. Unconditional approval is subject to a full credit assessment and any offer you may receive may have different terms.
You may be eligible for an business loan if you:
The application process is quick and simple. Just complete the online application within a few minutes and a dedicated company credit specialist will call you to guide you through the process.
To be eligible for up to $100,000 you’ll need proof of identity (valid Driver’s License) and a valid NZBN/IRD as well as at least 6 months of bank statements.
Otherwise, for larger loan sizes, you’ll also need:
$100K – $250K: Information about the application including credit consent, 6 – 12 months of IRD statements, bank statements (if you have a loan of more than $150K).
$250K – $500K: Application details including credit consent, 12 months of bank records, IRD statement Last 2 years’ finalised financial statements, as well as interim financials for the current financial year such as age-related payables and aged Receivables summaries.
For an unsecured loan ($5K to $100K) we can often offer an answer within one hour, provided you submit your request during standard business times and you allow us to use the advanced bank verification system to immediately verify your bank account information online. If you choose to submit copies of your bank statements we can provide an answer within just one business day.
For the Larger Business Loan ($100K or more) we might be capable of provide you with pre-approval conditional to your application in about 6 hours. After you’ve signed the pre-approval, turnaround times are about 2-3 days for final approval. However, this may be quicker depending on the specifics of each application. Certain deals have been approved in the space of 24 hours.
The most effective method can be make sure you apply during normal business hours, and allow us to use our advanced bank verification system to verify your bank information online. If you upload duplicates of your banking accounts, it can take a bit longer.
For the Small Business Loan ($5K up to $100,000) we usually provide a response in one hour, provided you make your application during normal business time and you allow us to make use of the advanced bank verification system to instantly verify your bank’s information online. If you opt to send us copies of your bank statement, we’ll provide a decision within an business day.
For Larger Business Loans ($100K to $500K) we may be likely to offer the conditional pre-approval within about six hours. After you’ve signed the pre-approval form, it will take about 2-3 days for final approval, however this may be quicker depending on the circumstances of each application. Some transactions have received approval in the space of 24 hours.
The fastest way for you to apply is make sure you apply during normal business hours, and allow us to use the sophisticated bank verification link to instantly verify your bank information online. If you opt to send us the copies of bank accounts, it takes a bit longer.
We provide loan amounts between $5,000 to $500,000. If you apply for a particular amount, we take into consideration a range of variables for determining what is the well-being of your business as well as the amount of the repayments your company can afford. The amount you receive from your loan will depend on the particular circumstances that are unique to your company.
When you make an application for a set amount, we consider a variety of variables to assess how much we can lend you such as health for your company and the extent of the repayments your company can afford. The amount you receive from your loan will be contingent on the particulars the business.
If you decide to make an application for our company credit, we will assess the risk assessment that you have for your business and provide you with a customised offer including the loan amount, the terms and interest rates. This business loan is a loan that is priced upfront which means you be aware of the total amount due, which includes any charges, interest rates or fees.
Business loan interest rates differ based on various factors including the amount that is borrowed, what company assets the funds will be used for in addition to the industry that the business is in, how long the business has been in operation as well as whether the business has enough cash flow to fund the loan, and the overall health or creditworthiness 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 when, right from the very first day. There’s no compounding interest, and the loan comes with no additional fees (as long as you are able to make your payments on time).
We don’t charge an application fee. You are able to apply for a loan with with no upfront cost or the obligation to take action.
The Origination Fee is the cost associated in establishing and managing the loan. The only way to pay this cost if you take out the loan. Our Origination Fee is 2.5 percent of the loan amount.
You may choose to pay back all of your loan early at any time.
If you decide to pursue this option, please contact our helpful company credit professionals. They’ll offer you with the details of your repayment and an early payout figure. It will be calculated using the total of the remaining principal amount plus any accrued interest as of the date of early payout and 1.5% of the remaining principal and any fees that remain unpaid.
To help you avoid missing payment dates and to align with your cash flow cycle we provide repayments either weekly or daily. They will be automatically deducted from the nominated company account.
The security of your personal information, as well as being upfront about how we collect information, use it, and exchange it, as well as ensure the security of your information is of paramount importance and an integral aspect of our relationship with you.
Yes. We use industry recognised encryption standards to protect your personal, sensitive as well as financial data. Our funders are ISO 27001 qualified for our commitment to the security of our customers as well as their privacy. We employ an exceptionally sophisticated bank verification system that allows you to immediately verify your bank account information online so we can provide rapid response.
The term "asset-based" refers to borrowing where the company owner uses the assets they have to get the funding. The asset can be an individual asset, such as the family home, or a company asset such as a truck or piece of equipment.
The majority of lending institutions, including the banks with the biggest size, prefer to make loans secured by an asset. If you’re struggling to pay back the loan then the asset might be transferred to the lender. In essence, it’s means of securing new financing using the value of what you already own.
For loans of up to $150,000, the requirement for asset security is not required in advance to gain access to the funds however, we do require an individual guarantee. In the event that you fulfill your loan obligations (as specified in the loan contract) Asset security is not needed. For loans over $150,000 generally, you are able to get the option of a personal ensure and security in the form the charge of assets.
