The requirements for getting an unsecured business loan in Adelaide of between $5K and $100K are pretty minimal.
Are you looking for additional funding? Check out the guidelines for eligibility for our $100K-$500K business loans.
All you need for starting is your contact details (company name, your name, email address, phone) along with the amount you’d like to borrow, as well as your monthly income.
During the process and before settlement we’ll need confirmation of who you are, but not to get started:
After we start in the process, for loans that exceed $150,000, you’ll need basic financial statements:
Let’s get started now.
Adelaide unsecured loans provides the range of $5,000 to $100,000. The terms range between 3 and 24 months, cash flow friendly repayments which can be made daily or weekly.
Apply for the Small Business Loan in under 10 minutes via the internet or by phone. You will receive an immediate response, and the funds could be on your account within 24 hours. Traditional business loans are based on an annual rate of interest along with other charges and fees. Our company loan is an upfront priced loan therefore you’ll be aware in advance of the total amount payable including the interest, fees and charges. Then, it is divided into a daily or weekly repayment figure.
A Small Business Loan can be used for nearly any business reason, such as control of cash flow business remodeling, marketing to purchase inventory or new equipment, to fund general working capital and so much more. The loan is not available to fund personal expenses.
The Larger Business Loan is a larger size loan to aid in business expansion opportunities. Loans are between $100,000 and $500,000 over a fixed term that can last up to 36 months. Repayments are scheduled weekly or fortnightly, depending on your situation.
A Larger Business Loan has an Origination Fee that is determined at 2.5% of the amount of the loan.
In order to be eligible for a loan in this amount the business needs to be in operation for at least 3 years and have an annual turnover of $700,000. It is necessary to be a New Zealand Citizen (or Permanent Resident) with a minimum age of 18 years old or have a New Zealand company (with a valid NZBN/IRD) and be able demonstrate at minimum 12 months of continuous trading.
A large business loan can be used for nearly any business reason, such as company renovations, purchase of equipment or inventory for general working capital and so much more. The loan is not available for personal reasons.
Asset security is needed for accessing funds over $150,000. It’s as a result of an charge over assets, which could also be registered in the PPSR or filing as a caveat.
A personal or director’s guarantee is a commitment to repay credit that is generally in nature rather than stating security over a particular asset. The person who is signing the ensure is personally liable in the event that the business lender is not able to make the repayment.
The Personal Property Securities Register (PPSR) is a central, national online register that is operated by the New Zealand Government. It reflects security interests registered in respect of personal property (including the assets or goods). The PPSR grants prioritisation over property that is personal to be granted in accordance with the date on which a security interest was registered.
An affidavit is an official document lodged to offer the legal claim to property.
If you’re applying for a Larger Business Loan of more than $250K we may be able to provide an initial pre-approval that will help smooth out the process. We could be able to do this without a credit check and within six hours of your initial application. This pre-approval is based on an initial evaluation that involves the answer to a series of financial well-being questions. This is neither an offer nor a guarantee of credit. Acceptance without condition is subject to an extensive credit evaluation and any offer that you may receive may be based on different terms.
You are eligible to apply for an company loan if you;
The application process is fast and easy. Just fill out the online application within a few minutes and a dedicated business expert in lending will contact you to guide you.
To apply for up to $100,000 you’ll need identification details (valid Driver’s License) and an NZBN/IRD that is valid and at least 6 months’ worth of bank statements.
In addition, for larger loan sizes, you’ll require:
$100K-$250K: Details of application, including credit consent, 6 – 12 months of bank statements, IRD statement (if you have a loan of more than $150K).
$250K to $500K: Application details including credit consent twelve month bank accounts, the IRD statements, last 2 years finalised financial statements, plus interim financial statements for the current year such as age-related payables and aged Receivables summary.
For an unsecured loan ($5K or more) We can usually offer a response in one hour if you submit your request during standard company time and you allow us to utilise the bank verification system to immediately verify your bank account information online. If you choose to upload copies of your banking statements we can provide the decision in as little as the span of one business day.
For the Larger Business Loan ($100K and up) we may be likely to provide you with a conditional pre-approval within 6 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 deals have been approved within the space of 24 hours.
The quickest method would be to make sure you apply during standard company hours and let us use the advanced bank verification system to instantly verify your bank account information online. If you opt to upload the copies of bank statement, it may take a bit longer.
For the Small Business Loan ($5K up to $100,000) we usually offer an answer within an hour – provided you make your application within standard business time and allow us to use the bank verification system link to immediately verify your bank account information online. If you want to send us copies of your bank statements we can offer an answer in just one business day.
If you are applying for Larger Business Loans ($100K to $500K) we could be capable of offer you with a conditional pre-approval in around 6 hours. After you’ve signed the pre-approval, the turnaround time is about 2-3 days for final approval. However, this may be quicker depending on the specifics of each application. Some agreements have been approved within 24 hours.
The quickest method can be ensure you apply during normal business hours. Also, let us use the sophisticated bank verification to verify your bank account information online. If you choose to upload copies of your bank statements, it can take a bit longer.
We offer loans ranging from $5,000 and $500,000. When you submit an application for a certain amount we consider a variety of aspects for determining how much we can lend you health of your company and the extent of the repayments your business will be able to support. The total amount of your loan will depend on the particular circumstances the business.
If you apply for a specific amount we take into consideration a variety of aspects to assess how much we can lend you such as health of your business and the amount of repayments that your company is able to afford. The amount you receive from your loan will depend on the particulars the business.
When you make an application for the business loan, we’ll assess the risk profile of your company and offer you with a customised offer that includes loan amount, term and interest rates. The company loan is a loan that is priced upfront and you’ll know in advance the total amount you will have to pay, including interest rates, fees or charges.
Interest rates for business loans rates differ based on various factors such as the amount that is borrowed, the company assets the funds are used to purchase and the sector the company operates in, how long the company is in operation as well as whether the company has sufficient cash flow to pay for the loan, and the overall health as well as creditworthiness company.
There are no hidden costs for our business loans. You’ll know exactly how much you’ll need to pay, and at what time, from the very first day. There’s no compounding interest and no extra fees (as as you make your payments on time).
We do not charge an Application Fee. You can request a credit loan no cost upfront or commitment to apply.
The Origination Fee covers the expenses involved with establishing and managing the loan. This is only a fee if you choose to proceed with the loan. Our Origination Fee is 2.5% of the loan amount.
You can repay the entire amount of your loan early at any time.
If you do decide to take this route, please talk to one of our helpful company credit experts. They will provide you with repayment details and an early payout figure. This is calculated as the total of the principal balance plus any accrued interest as of the time of the early payout and 1.5 percent of the principal balance plus any outstanding fees.
To make sure that you don’t miss payment dates and to align your cash flow schedule, we provide payments that are either daily or weekly. These are automatically withdrawn from your designated company account.
Security of your data, and making it clear the ways we gather the information we collect, use, share and ensure the security of your information is vital and is a crucial element of our relationship with you.
Yes. We use industry recognised encryption standards to secure your personal, sensitive as well as financial data. Our funders are ISO 27001 qualified for our dedication to security for our customers and security. We utilise a sophisticated bank verification system link to instantly confirm your bank account information online. This allows us to provide an immediate response.
Asset-based borrowing occurs when the company owner uses an asset they own to obtain the funds for a loan. The asset may be an individual asset, such as the family home or a company property like a truck or piece of equipment.
The vast majority of the lenders including the largest banks, are inclined to secure loans against assets. If you’re having trouble paying back the loan, then the asset could be transferred to the lender. In essence, it’s a way of securing new financing using the worth of the asset you already own.
For loans up to $150,000 no asset security is required in advance to gain access to the funds however, we do require the personal guarantee. So long as you comply with your loan obligations (as stated in your loan contract) the security of assets will never be required. For loans over $150K generally, you are able to get a personal guarantee and security in the form of charges on assets.
