The criteria for eligibility for an unsecured business loan in Adelaide of between $5K and $100K are pretty minimal.
Need more funds? Find out the conditions of eligibility for our $100K-$500K business credit.
All that’s needed to get started is your contact information (the name of your company and your name, as well as email, phone), how much you’d like to borrow, as well as your monthly income.
In the course of the process and before settlement we’ll require confirmation of your identity, but not for starting:
Once we’ve started with loans over $150,000 you’ll also need basic 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 which can be made daily or weekly.
You can apply to the Small Business Loan in under 10 minutes via the internet or on the phone. You’ll receive an instant response and the funds could be available in just 24 hours. Traditional business loans are based on an interest rate per annum along with other charges and fees. Our business loan is an upfront priced loan therefore you’ll know ahead of time the total amount to be paid, including the interest, fees and charges. This is then broken down into either a daily or weekly installment amount.
It is a Small Business Loan can be used to fulfill almost any company use, including the management of cash flow, business improvements, advertising for purchasing inventory or new equipment, for general working capital and much more. The loan cannot be used for personal use.
The Larger Business Loan is a larger size loan to aid in company expansion opportunities. The loan ranges from $100,000 to $500,000 with a term fixed with a maximum of 36 months. Repayments are scheduled weekly or fortnightly in order to accommodate the flow of cash.
It is important to note that the Larger Business Loan has an Origination Fee which is determined at 2.5 percentage of the amount of the loan.
To be eligible for a credit in this amount, your company needs to have been in operation for at least 3 years and have an annual turnover of $700K. 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 to demonstrate at minimum 12 months of continuous trading.
A Business Loan of a larger size can be used for nearly any company purpose including company renovations, to purchase inventory or new equipment or as general working capital, and much more. The loan cannot be used for personal reasons.
Asset security is necessary for funding of more than $150,000. It is usually in the form of a charge against assets, which could also include registration on 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 stipulating the security for a particular asset. The person signing the guarantee is personally liable if the business borrower is unable to pay back the debt.
The Personal Property Securities Register (PPSR) is an online central register operated by the New Zealand Government. It reflects security interests which are registered with respect to personal property (including goods or assets). The PPSR gives priority over personal property to be granted in accordance with the date on which a registration of a security interest.
An affidavit is an official document filed to offer the legal claim to a property.
If you’re applying for an enterprise loan of more than $250K we may be able to provide an initial pre-approval in order to make the process. We could be able to get this done without a credit check and within six hours of your initial application. This pre-approval is made based on an initial evaluation that involves the answer to a series of financial well-being checks. This is neither an offer nor a guarantee of credit. Unconditional approval is subject to an assessment of your creditworthiness and any offer you might receive could be based on different conditions.
You may apply for a business loan if you;
The application process is quick and simple. Just complete the online application in few minutes and an experienced business lending specialist will be in touch to help you.
To be eligible for up to $100,000 you’ll require the right identification documents (valid Driver’s License) as well as an active NZBN/IRD, and at least six 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 the loan is greater than $150K).
$250K to $500K: Information on the application including credit consent, 12 months bank statement, an IRD statements Last 2 years’ finalised financial statements, and interim financial statements for the current year, Aged Payables and Aged Receivables reports.
For an unsecured loan ($5K to $100K) we usually offer an answer within one hour, provided you make your application at standard company hours and permit us to utilise the bank verification system to immediately verify your bank account information online. If you choose to upload copies of your bank statements we can offer the decision in as little as one company day.
If you are applying for a Larger Business Loan ($100K and up) we may be able to provide you with a conditional pre-approval in around 6 hours. After you’ve signed the pre-approval form, it will take between 2 and 3 days for the final approval, however this could be shorter based on the specifics of each application. Some offers have been approved within 24 hours.
The quickest method for you to apply is ensure you apply during standard company hours and permit us to use the advanced bank verification system to instantly verify your bank account information online. If you decide to send us the copies of bank statements it may take a bit longer.
For the Small Business Loan ($5K to $100K) we can often offer an answer in just one hour – provided you apply at normal business time and permit us to use the bank verification system to immediately verify your bank account information online. If you opt to submit copies of your bank statements we can provide the decision in as little as an business day.
For the Larger Business Loans ($100K up to $500,000) we might be in a position to offer you with pre-approval conditional to your application within 6 hours. Once you’ve signed your pre-approval form, it will take between 2 and 3 days for the final approval. However, this may be quicker depending upon the circumstances for each application. Certain offers have been approved within less than 24 hours.
The most effective method for you to apply is ensure you apply during standard business hours and allow us to use our sophisticated bank verification to instantly verify your bank information online. If you choose to send us documents from your account statement, it will take a little longer.
We offer loan amounts between $5,000 and $500,000. When you make an application for a particular amount, we will consider a number of elements to determine the well-being of your company and the extent of payments your business is able to afford. The total amount of your loan will be contingent on the specifics for your business.
When you apply for a set amount, we take into consideration a variety of factors to determine your well-being of the business and the level of the repayments your business can afford. The total amount of the loan will be determined by the particular circumstances the company.
When you make an application for business loans with us business credit, we will assess the risk assessment for your company and offer an individualised offer including the amount of loan, the term and the interest rates. This business loan is an upfront priced loan therefore you will be aware in advance of the total amount due, which includes any charges or interest.
Business loan interest rates differ based on various factors including the amount borrowed, what company assets the money are used to purchase and the sector the business operates in, the long the company has been operating, how long the business has enough cash flow to pay for the loan, and overall health or financial standing of the company.
There are no hidden costs for our business 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 and the loan comes with no additional fees (as long as you are able to make your payments punctually).
We do not charge an Application Fee. You can apply for a loan no cost upfront or any obligation to sign up.
The Origination Fee includes the expenses associated in establishing and managing the loan. The only way to pay this cost if you take out the loan. The Origination Fee for us is 2.5% of the amount of loan.
You can choose to repay the entire amount of the loan early at any time.
If you are deciding to take this route, please call our helpful company loan 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 principal balance and the accrued interest up to the time of early payment, plus 1.5% of the principal amount remaining as well as any outstanding fees.
To ensure you do not miss payment dates and to align with your cash flow cycle we provide payments that are either weekly or daily. These are automatically deducted from your nominated business account.
Security of your data, and knowing how we collect information, use it, and exchange it, as well as ensure the security of your information is crucial and a vital part of our relationship with you.
Yes. We make use of industry-standard encryption standards to protect your sensitive, personal and financial data and our funders are ISO 27001 certified for our commitment to security for our customers and security. We make use of an advanced bank verification system that allows you to immediately verify the bank account details online to offer a fast response.
The term "asset-based" refers to borrowing where a company owner makes use of an asset they own to get the funds for a loan. The asset can be either a personal asset like the family home or it could be a company property like a truck or piece or equipment.
The majority of banks, even the major banks, prefer to secure loans against assets. If you are having difficulty paying back the loan, then the asset could be sold by the lender. In essence, it is an opportunity to secure new financing by taking advantage of the value of what you already have.
Up to $150,000 in loans it is not necessary to secure assets upfront to access the money, however we require a personal guarantee. need a personal guarantee. As long as you follow the terms of your loan (as stipulated in the loan contract) Asset security is not required. For loans of over $150,000 generally, there is an individual ensure and security is provided in the form of charges on assets.
