The criteria for eligibility for an unsecured business loan in Adelaide of between $5K and $100K is fairly low.
Do you require more money? Find out the conditions of eligibility for our $100K-$500K business financing.
All that’s needed to get started is your contact information (the name of your company, your name, email address or phone number) and the amount you’d like to borrow as well as your monthly income.
In the course of the process and before settlement we’ll need confirmation of your identity but not to get started:
Additionally after we get started, for loans greater than $150,000 you’ll also require the following financial statements:
Let’s get started.
Adelaide unsecured loans provides amounts between $5,000 and $100,000. The terms range between 3 and 24 months and cash flow-friendly repayments that are either daily or weekly.
You can apply for your Small Business Loan in under 10 minutes via the internet or over the phone, receive an immediate response, and have the funds in your account within 24 hours. Traditional company loans refer to an interest rate per annum together with additional fees and charges. This company loan is a loan that is priced upfront therefore you’ll know in advance the amount you will have to pay, including any fees, charges or charges. This is then divided into weekly or daily payment amount.
The Small Business Loan can be used for virtually every business use, including cash flow management, business remodeling, marketing, to purchase inventory or new equipment, to fund general working capital and much more. The loan cannot be used to fund personal expenses.
The Larger Business Loan is a larger amount of loan to help business growth opportunities. Loans range from $100,000 to $500,000 over a fixed term up to 36 months. Repayments are weekly or fortnightly depending on the flow of cash.
This Larger Business Loan has an Origination Fee, calculated at 2.5 percentage of the loan amount.
To be eligible for a credit that is this large the company needs to have been in operation for at least 3 years and have an annual turnover of at least $700,000. You must be a New Zealand Citizen (or Permanent Resident) at least 18 years old and have a New Zealand business (with a valid NZBN/IRD) and be able to demonstrate at minimum 12 months of continuous trading.
A large business loan can be used for nearly any business use, including company improvements, purchasing equipment or inventory as well as for general working capital and much more. The loan cannot be used for personal use.
Asset security is required to obtain funding above $150,000. This can be done by taking a charge on assets, and may be registered in the PPSR or making as a caveat.
A personal or director’s guarantee is a promise to repay a loan which is general in nature, rather than specifying security over a particular asset. The person signing the ensure is personally accountable if the business borrower is unable to repay the debt.
The Personal Property Securities Register (PPSR) is a central, national online register run by the New Zealand Government. It lists security interests that are registered in respect of personal property (including the assets or goods). The PPSR permits prioritisation over property that is personal to be granted according to the date a security interest has been registered.
Caveats are legal document filed to provide the legal claim to property.
When you’re applying for a Larger Business Loan of more than $250,000 we may be able to provide an initial pre-approval in order to make the process. We may be able to make this decision without a credit check, and within 6 hours of your initial application. The pre-approval process is based on an initial evaluation that involves the answer to a series of financial health questions. It’s not an offer of credit or guarantee of credit. A conditional approval is subject an exhaustive credit evaluation, and any offer that you may receive may be based on different terms.
You are eligible to apply for an business loan if you;
The application process is quick and simple. Complete the online form within a couple minutes, and an experienced business expert in lending will be in touch to assist you.
To apply for up to $100,000 you’ll need proof of identity (valid Driver’s License), a valid NZBN/IRD as well as at least 6 months of bank statements.
In addition, for larger loan sizes, you’ll also require:
$100K-$250K: Application details including credit consent, 6 – 12 months of bank statements, IRD statement (if the loan is greater than $150K).
$250K-$500K: Information on the application including credit consent, 12 month bank accounts, the IRD statements, last 2 years finalised financial statements, and interim financial statements for the current year such as age-related payables and aged Receivables summaries.
For an unsecured loan ($5K and up) We can usually provide an answer within one hour – as long as you apply at standard business hours and let us make use of the advanced bank verification system to instantly verify your bank information online. If you want to upload copies of your bank statements we can offer an answer in as little as an company day.
For the Larger Business Loan ($100K to $500K) we might be able to provide the conditional pre-approval in about six hours. After you’ve signed the pre-approval, turnaround times are approximately 2-3 days to receive final approval, however this may be quicker depending on the circumstances of each application. Some offers have been approved within less than 24 hours.
The quickest way to apply is to make sure you apply during normal business hours. You can also permit us to use the advance bank verification to check your bank’s information online. If you send us the copies of bank accounts, it can take a bit longer.
For the Small Business Loan ($5K to $100K) we typically provide an answer in just one hour if you submit your request in standard business time and let us make use of the advanced bank verification system link to instantly verify your bank details online. If you opt to upload copies of your banking statement, we’ll offer the decision in as little as 1 business day.
For Larger Business Loans ($100K up to $500,000) we may be likely to offer you with pre-approval conditional to your application in about 6 hours. Once you’ve signed the pre-approval, the turnaround time is between 2 and 3 days for the final approval, however this could be shorter based on the circumstances of each application. Some deals have been approved in less than 24 hours.
The most efficient method for you to apply is make sure you apply during normal business hours, and permit us to use the advanced bank verification system to confirm your bank details online. If you decide to send us copies of your bank statements, it can take a bit longer.
We offer loans that range from $5,000 and $500,000. If you apply for a particular amount, we take into consideration a range of variables for determining your health for your business and the amount of repayments that your company will be able to support. The total amount of your loan will be contingent on the specifics for your business.
When you make an application for a specific amount we consider a variety of aspects to determine the health for your business and the level of repayments that your business is able to afford. The amount you receive from your loan will be contingent on the specific circumstances of your company.
When you request one of our company loans, we will assess the risk profile that you have for your company and offer you with a tailored offer that includes loan amount, term and the interest rates. This business loan is an upfront-priced loan so you will know the exact amount to be paid, including any charges or interest.
The interest rates on company loans rates depend on a variety of factors such as the amount that is borrowed, the company assets the money are used to purchase in addition to the industry that the business operates in, the long the company is in operation and what percentage of the company has enough cash flow to cover the loan, as well as the general well-being or financial standing of the company.
There aren’t any hidden charges for our business loans, and you’ll know precisely what you’ll be required to pay, and when, from the day you sign up. There’s no compounding interest, and there are no additional charges (as as you make your payments punctually).
We do not charge an Application Fee. You are able to make an application for loans no cost upfront or commitment to apply.
The Origination Fee covers the expenses involved with setting up and managing the loan. You are only charged this fee if you choose to proceed with the loan. The Origination Fee for us is 2.5 percent of the amount of loan.
You may choose to pay back the entire amount of your loan early at any time.
If you choose to take this route, please contact our helpful business loan professionals. They will provide you with details for repayment and an early payment figure. The figure will be calculated as the total of the principal remaining and accrued interest to the time of the early payout, plus 1.5% of the principal balance plus any outstanding fees.
To help you avoid missing due dates and also to be in line with your cash flow general, we offer repayments that are either weekly or daily. These are automatically deducted from the nominated company account.
Making sure that your information is secure, and being upfront about how we collect the information we collect, use, share and protect your information, is crucial and a vital element of our relationship with you.
Yes. We use industry recognised encryption standards to secure your personal, sensitive financial and other data. Our funders are ISO 27001 certified for our dedication to security for our clients and security. We make use of an advanced bank verification system that allows you to instantly confirm your bank account information online, allowing us to offer rapid response.
The term "asset-based" refers to borrowing where a business owner uses an asset that they own to secure a loan. The asset can be either an individual asset, such as the family home, or an company asset like a truck or piece of equipment.
The vast majority of lenders, not just the big banks, tend to make loans secured by an asset. If you have trouble paying back the loan then your asset may be offered for sale by the lender. In essence it’s means of securing new financing by using the value of what you already own.
For loans of up to $150K, no asset security is required before you are able to access the money however, we do need an individual guarantee. So long as you comply with your loan commitments (as detailed in your loan contract document) the security of assets is not needed. If you take out loans in excess of $150,000 generally, you are able to get a personal guarantee and security that is in the form charges on assets.
