The requirements for getting an unsecured business loan in Adelaide of between $5K and $100K are fairly minimal.
Are you looking for additional funding? Check out the conditions of eligibility for our $100K to $500K company financing.
All that’s needed to start is your contact information (the name of your company, your name, email address and telephone) and the amount you’d like to borrow, and your monthly revenue.
In the course of the process and before settlement we’ll require confirmation of your identity, but not to get started:
In addition, once we have started in the process, for loans greater than $150,000 you’ll require fundamental financial statements:
Let’s get started.
Adelaide unsecured loans provides amounts of between $5,000 and $100,000 with terms between 3 and 24 months, cash flow friendly repayments which can be made daily or weekly.
You can apply to the Small Business Loan in under 10 minutes online or over the phone. You’ll get an immediate response, and funds may be in your account within 24 hours. Traditional business loans refer to an interest rate per annum as well as other fees and charges. We offer a business loan is an upfront priced loan so you will be aware in advance of the total amount payable including any fees, interest or charges. Then, it is broken down into a daily or weekly installment amount.
A Small Business Loan can be used for virtually any business need, such as cash flow management, business remodeling, marketing for purchasing inventory or new equipment, or as general working capital, and much more. The loan cannot be used for personal reasons.
The Larger Business Loan is a larger amount of loan to help business growth opportunities. The loan ranges from $100,000 to $500,000 with a term fixed with a maximum of 36 months. Repayments are either weekly or fortnightly in order to accommodate your situation.
This Larger Business Loan has an Origination Fee, which is determined at 2.5 percent of the loan amount.
To qualify for a loan that is this large, your business needs to have been operating for at least three years with an annual turnover of $700,000. Your business must belong to 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 business.
A large company loan can be used for nearly all business purpose including business remodeling, buying new equipment or inventory as well as for general working capital and much more. The loan cannot be used to fund personal expenses.
Asset security is necessary to obtain funding above $150,000. This can be done in the form of a charge on assets, and may include registration on the PPSR or the registration of as a caveat.
A director’s or personal guarantee is a commitment to repay credit that is general in nature rather than stipulating security over a particular asset. The person who signs the guarantee is personally liable in the event that the business creditor is unable to pay back the debt.
The Personal Property Securities Register (PPSR) is an online central registry 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 grants the priority of personal property granted depending on the date that a security interest has been registered.
The caveat can be described as a formal document lodged to offer the public notice of a legal claim to a property.
If you’re requesting the Larger Business Loan of $250,000 or more we can offer a preliminary pre-approval to help simplify the process. We may be able to do this without credit checks and within six hours of your initial application. The pre-approval process is based on an initial evaluation that involves you answering some financial health checks. It is not an offer of credit or guarantee of funds. Acceptance without condition is subject to a full credit assessment and any offer you receive could be on different terms.
You can apply for an company loan if you
The application process is quick and simple. Just fill out the online application within a few minutes and a dedicated company credit specialist will be in touch to help you.
To be eligible for up to $100,000 you’ll need proof of identity (valid Driver’s License) and an active NZBN/IRD, and at least 6 months of bank statements.
For larger loan sizes, you’ll need:
$100K-$250K: Information about the application including credit consent, 6-12 months of bank statements, IRD statement (if credit is over $150K).
$250K-$500K: Application details including credit consent twelve month bank accounts, the IRD statement and the last two years’ finalised financial statements, in addition to interim financial statements for the current year including Aged Payables, Aged Receivables summary.
For an unsecured loan ($5K or more) We can usually provide an answer within one hour, provided you submit your request at standard company hours and allow us to utilise the advanced bank verification system to immediately verify your bank account information online. If you choose to upload copies of your bank statements we can provide an answer in as little as one company day.
For the Larger Business Loan ($100K up to $500,000) we may be likely to provide the conditional pre-approval in around 6 hours. Once you have signed the pre-approval, turnaround times are about 2-3 days for final approval, however it could be faster based on the circumstances of each application. Certain deals have been approved within less than 24 hours.
The most effective method can be make sure you apply during normal company hours and permit us to use the modern bank verification to instantly verify your bank account information online. If you decide to send us duplicates of your banking statement, it will take a little longer.
For the Small Business Loan ($5K to $100K) we usually offer an answer in just one hour – provided you submit your request during standard business timings and permit us to make use of the advanced bank verification system to instantly verify your bank information online. If you decide to upload copies of your bank statements, we are able to offer the decision within an business day.
If you are applying for Larger Business Loans ($100K or more) We may be likely to provide you with conditional pre-approval in about 6 hours. Once you’ve signed the pre-approval form, it will take approximately 2-3 days to receive final approval, however this could be shorter based upon the circumstances for each application. Certain transactions have received approval within just 24 hours.
The most efficient method is to make sure you apply during standard business hours and allow us to use our modern bank verification link to instantly check your bank’s information online. If you decide to send us documents from your account statement, it will take a little longer.
We offer the loan amount between $5,000 and $500,000. When you submit an application for a particular amount, we consider a variety of elements for determining your well-being of the business and the extent of payments your business can afford. The amount you receive from your loan will be contingent on the particular circumstances of your company.
When you make an application for a certain amount, we take into consideration a variety of variables to determine how much we can lend you such as well-being of your company as well as the amount of payments your company is able to afford. The total amount of the loan will be determined by the particulars that are unique to your business.
If you decide to apply for the company financing, we’ll assess the risk profile for your company and offer you with a customised offer that includes the amount of the loan, the duration and interest rates. It is a company loan is an upfront cost loan which means you be aware of the total amount to be paid, including any charges or interest.
Interest rates for business loans rates vary due to factors including the amount borrowed, what business assets the money are used to purchase and the sector the business is operating in, how long the business has been in operation for, how long the business has sufficient cash flow to fund the loan, as well as the overall well-being and creditworthiness of the company.
There are no hidden costs with our company loans, and you’ll know precisely how much it is that you need to pay, and when, right from the first day. There’s no compounding and no extra fees (as as long as you pay your payments on time).
We don’t charge an Application Fee. You can get a cash loan with absolutely no upfront cost and no the obligation to take action.
The Origination Fee includes the expenses associated with establishing and managing the loan. It is only charged for this fee if you proceed with the loan. Our Origination Fee is 2.5 percentage of the amount of the loan.
You can choose to repay the total amount of your loan early at any time.
If you choose to pursue this option, please talk to one of our helpful company credit specialists. We will provide you with the details of your repayment as well as an early payout amount. It will be calculated using the total of the principal remaining and the accrued interest up to the time of early payout, plus 1.5% of the principal amount remaining plus any outstanding fees.
To help you avoid missing payment dates and to align with your cash flow routine, we provide payments that are either daily or weekly. These are automatically deducted from your designated company account.
Making sure that your information is secure, and being transparent about the ways we gather data, process, exchange and protect your information, is vital and is an essential aspect of our relationship with you.
Yes. We employ industry-recognised encryption techniques to protect your personal, sensitive and financial data and our funders are ISO 27001 certified for our commitment to the security of our clients as well as their security. We use an advanced bank verification system link to immediately verify the bank account details online to offer rapid response.
Asset-based borrowing is when the company owner borrows from the assets they have to obtain the funds for a loan. The asset may be a personal asset like the family home or an business asset like a truck as well as a piece of machine.
The majority of lending institutions, even the big banks, tend to secure loans against an asset. If you are having difficulty paying back the loan then the asset could be sold by the lender. In essence, it’s an opportunity to secure new funding using the value of what you already own.
For loans that exceed $150,000, it is not necessary to secure assets prior to the loan’s access, however we do need the personal guarantee. As long as you follow the loan terms (as stated in your loan contract), asset security will never be required. For loans over $150,000 typically, you will need a personal ensure and security in the form of charges on assets.
