The requirements for obtaining an unsecured business loan in Adelaide of between $5K to $100K are quite minimal.
Need more funds? Find out the conditions of eligibility for our $100K-$500K company loan.
All you need to start is your contact information (the name of your company and your name, as well as email and phone), how much you want to borrow, and your monthly revenue.
During the process and before settlement we’ll need confirmation of who you are but not to get started:
Once we’ve started when it comes to loans over $150,000 you will also need the following financial statements:
Let’s get started now.
Adelaide unsecured loans offers amounts between $5,000 and $100,000, with terms ranging from 3 and 24 months. They also offer cash flow-friendly repayments which can be made daily or weekly.
The application to your Small Business Loan in under 10 minutes via the internet or on the phone. You’ll receive an answer within the same day and funds may be in your account within 24 hours. Traditional company loans are based on an annual rate of interest as well as other fees and charges. Our business loan is a pre-paid loan therefore you’ll be aware in advance of the total amount due, which includes any fees, interest or charges. This is then broken down into either weekly or daily payment amount.
The Small Business Loan can be used to fulfill almost every company use, including control of cash flow company remodeling, marketing to purchase inventory, new equipment, or as general working capital and much more. The loan is not available to fund personal expenses.
The Larger Business Loan is a larger amount of loan to help business expansion opportunities. Loans are between $100,000 and $500,000 with a fixed-term that can last up to 36 months. Repayments are scheduled weekly or fortnightly, depending on your cash flow.
The Larger Business Loan has an Origination Fee, calculated at 2.5 percent of the amount of the loan.
To be eligible for a credit in this amount, your business needs to have been trading for at least 3 years and generate an annual revenue of $700K. You must be a New Zealand Citizen (or Permanent Resident) over 18 years and have a New Zealand company (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 almost all company purpose including company remodeling, buying inventory or new equipment, as general working capital and so much more. The loan cannot be used for personal reasons.
Asset security is needed for accessing funds over $150,000. It’s in the form of a charge against assets, and could include the registration of this through the PPSR or making as a caveat.
A personal or director’s guarantee is a guarantee to repay credit that is generally in nature rather than defining the security of a specific asset. The person who signs the guarantee is personally liable in the event that the company lender is not able to re-pay the debt.
The Personal Property Securities Register (PPSR) is a central, national online register that is operated by the New Zealand Government. It reflects security interests which are registered with respect to personal property (including objects or assets). The PPSR allows prioritisation over property that is personal to be assigned in accordance with the date on which a security interest was registered.
An affidavit is an official document that is filed to provide the public notice of a legal claim on a property.
When you’re applying for larger business loans that is greater than $250,000 we can offer a preliminary pre-approval to help simplify the process. It is possible to make this decision without a credit check and within 6 hours of your initial application. This pre-approval is based on an initial evaluation that involves you answering a few financial well-being questions. It’s not an offer of credit or guarantee of funds. The approval of a conditional loan is subject to a full credit assessment and any offer that you are offered could be subject to different conditions.
You may be eligible for a company loan if you;
The application process is simple and easy. Simply complete the online form in just a few minutes, and an experienced business lending specialist will call you to assist you.
To apply for up $100,000 you’ll require ID details (valid Driver’s License) as well as an NZBN/IRD that is valid and at least 6 months’ worth of bank statements.
In addition, for larger loan sizes, you’ll also require:
$100K – $250K: Application details including credit consent, 6-12 months of IRD statements, bank statements (if you have a loan of more than $150K).
$250K – $500K: Details of the application, including credit consent, 12 month bank accounts, the IRD statement, last 2 years finalised financial statements, in addition to interim financials for the current financial year such as age-related payables and aged Receivables summaries.
For an unsecured loan ($5K up to $100,000) we can often offer an answer in just one hour if you apply in standard company hours and allow us to utilise the advanced bank verification system to instantly verify your bank’s information online. If you opt to upload copies of your banking statement, we’ll offer a decision within just 1 company day.
For the Larger Business Loan ($100K or more) we may be in a position to offer the conditional pre-approval within about six hours. After you’ve signed your pre-approval, the turnaround time is approximately 2-3 days to receive final approval, however this could be shorter based on the circumstances of each application. Some offers have been approved in just 24 hours.
The fastest way can be make sure you apply during standard company hours and allow us to use our advanced bank verification system link to verify your bank information online. If you decide to send us duplicates of your banking statements , it may take a bit longer.
For the Small Business Loan ($5K up to $100,000) We can usually provide a response in one hour, provided you apply in standard business time and let us utilise the advanced bank verification system to instantly verify your bank details online. If you want to send us copies of your bank statements we can offer a decision in as little as one business day.
If you are applying for Larger Business Loans ($100K or more) We may be in a position to offer you with a conditional pre-approval within 6 hours. Once you have signed the pre-approval form, it will take between 2 and 3 days for the final approval. However, this can be faster depending on the circumstances of each application. Certain agreements have been approved in just 24 hours.
The most effective method for you to apply is ensure you apply during normal business hours, and permit us to use the advanced bank verification system link to instantly confirm your bank details online. If you decide to upload the copies of bank statements it takes a bit 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 your health that is your company and the level of repayments that your business can support. The total amount of the loan will be determined by the specifics of your business.
When you apply for a certain amount, we consider a variety of elements to assess your health for your business and the amount of payments your business can support. The total amount of your loan will depend on the specific circumstances the company.
When you request one of our company financing, we’ll assess the risk assessment that you have for your company and provide an individualised offer, including the amount of loan, the term and interest rates. It is a business loan is an upfront priced loan therefore you will be aware in advance of the total amount payable including any charges, interest rates or fees.
Interest rates for business loans rates depend on several variables like the amount to be borrowed, what business assets the money will be used for and the sector the company operates in, the long the business has been operating and in the event that the company has sufficient cash flow to pay for the loan, and the overall well-being as well as creditworthiness company.
There are no hidden costs for our company loans, and you’ll be aware of the amount you need to pay and at what time, from the day you sign up. There’s no compounding interest and there are no additional charges (as as long as you pay your payments in time).
We do not charge an Application Fee. You can request a credit loan absolutely no upfront cost and no any obligation to sign up.
The Origination Fee includes the expenses associated with the setting up and management of the loan. It is only charged for this fee if you decide to take the loan. Our Origination Fee is 2.5 percent of the amount of loan.
You may choose to pay back the entire amount of your advance loan at any time.
If you do decide to do this please contact our helpful business loans experts. We will offer you with details on repayment and an early payment figure. This will be calculated as the total of the remaining principal amount plus any accrued interest as of the time of early payment in addition to 1.5% of the remaining principal and any fees that remain unpaid.
In order to help you avoid missing repayments and to fit in with your cash flow cycle we offer repayments either daily or weekly. These are automatically deducted from your nominated company account.
The security of your personal information, as well as being upfront about the ways we gather the information we collect, use, share and protect your information, is crucial and a vital element of our relationship with you.
Yes. We employ industry-recognised encryption standards to secure your personal, sensitive as well as financial data. Our funders are ISO 27001 certified for our commitment to protecting the security of customers and privacy. We employ an exceptionally sophisticated bank verification system that allows you to instantly verify your bank account information online, allowing us to provide an immediate response.
The term "asset-based" refers to borrowing where an business owner utilises an asset they own to obtain a loan. The asset can be a personal asset like the family home or it could be a company asset like a truck as well as a piece of machine.
The vast majority of banks, including the major banks, prefer to make loans secured by an asset. If you have trouble paying back the loan, then your asset may be taken over by the lender. In essence, it is a way of securing new financing by using the value of what you already own.
Up to $150,000 in loans the requirement for asset security is not required before you are able to access the money However, we require a personal guarantee. require the personal guarantee. As long as you follow the loan terms (as specified in the loan contract), asset security will never be required. For loans over $150K generally, you can get a personal guarantee and security is provided in the form of charges on assets.
