The requirements for obtaining an unsecured business loan in Adelaide of between $5K and $100K is fairly low.
Do you need more money? Check out the conditions of eligibility for our $100K-$500K business loans.
All you need to start is your contact details (the name of your company, your name, email address, phone) along with the amount you’d like to borrow, and your monthly earnings.
Through the process and before settlement we will require confirmation of your identity but not before we can begin:
Once we’ve started, for loans over $150,000 you’ll also require fundamental financial statements:
Let’s get started.
Adelaide unsecured loans provides amounts of between $5,000 and $100,000, with terms ranging from 3 and 24 month and cash flow friendly repayments which can be made daily or weekly.
Apply to get the Small Business Loan in under 10 minutes over the phone. You’ll get an immediate response, and funds may be in your account within 24 hours. Traditional company loans are based on an annual rate of interest together with additional fees and charges. This company loan is a pre-paid loan which means you know ahead of time the total amount due, which includes any interest, fees or charges. Then, it is broken down into either weekly or daily amount to be paid back.
A Small Business Loan can be used for nearly any business purpose including control of cash flow business improvements, advertising, to purchase inventory or new equipment, to fund general working capital and much more. The loan is not available for personal use.
The Larger Business Loan is a larger size loan to aid in business expansion opportunities. The loan ranges from $100,000 to $500,000 over a fixed term up to 36 months. The repayments are made weekly or fortnightly to work with your cash flow.
A 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 loan that is this large, your company needs to have been in operation for at least 3 years with an annual turnover of $700,000. You must be a New Zealand Citizen (or Permanent Resident) over 18 years as well as own a New Zealand company (with a valid NZBN/IRD) and be able of proving at minimum 12 months of business.
A larger company loan can be used to fund almost any business purpose including business remodeling, buying inventory or new equipment, as general working capital and much more. The loan is not available for personal reasons.
Asset security is needed to access funding over $150,000. It is usually in the form of a charge over assets, and may include the registration of this on the PPSR or making as a caveat.
A director’s or personal guarantee is a promise to pay off a credit line that is general in nature, rather than stating security over a particular asset. The person who signs the guarantee is personally liable if the business borrower is unable to re-pay the debt.
The Personal Property Securities Register (PPSR) is a central, national online register run by the New Zealand Government. It reflects security interests which are registered with respect to personal property (including items or assets). The PPSR grants prioritisation over property that is personal to be assigned depending on the date that a security interest that is registered.
A caveat is a legal document filed to provide notice of a legal claim on a property.
If you’re applying for larger company loans of more than $250K we may be able to provide a preliminary pre-approval to help ease the process. We could be able to get this done without a credit check and within 6 hours of the initial application. This pre-approval is based on an initial evaluation that involves answering a couple of financial health checks. This is neither an offer nor a guarantee of credit. Unconditional approval is subject to an assessment of your creditworthiness and any offer that you may receive may be on different conditions.
You are eligible to apply for a business loan if you;
The application process is quick and simple. Simply complete the online form in few minutes and an experienced company lending specialist will contact you to guide you through the process.
To be eligible for up to $100,000 you’ll require identification details (valid Driver’s License) along with an active NZBN/IRD, and at least 6 months of bank statements.
Otherwise, for larger loan sizes, you’ll need:
$100K to $250K: Details of application, including credit approval, 6-12 months of bank statements, IRD statement (if loan above $150K).
$250K – $500K: Information on the application including credit consent as well as 12 months bank statement, an IRD statement Last 2 years’ finalised financial statements, as well as interim current financial year financials including Aged Payables, Aged Receivables reports.
For an unsecured loan ($5K to $100K) we typically provide a response in one hour – as long as you make your application within quality business time and you allow us to use the advanced bank verification system to instantly verify your bank information online. If you decide to submit copies of your bank statements we can provide an answer in as little as an company day.
For the Larger Business Loan ($100K to $500K) we could be in a position to offer the conditional pre-approval within six hours. After you’ve signed your pre-approval, the turnaround time is between 2 and 3 days for the final approval. However, this could be shorter based upon the circumstances for each application. Certain agreements have been approved within 24 hours.
The most effective method can be make sure you apply during normal business hours. Also, permit us to use the advanced bank verification system to instantly verify your bank information online. If you opt to send us duplicates of your banking statements it may take a bit longer.
For the Small Business Loan ($5K to $100K) we can often offer an answer within an hour – provided you make your application at standard business hours and permit us to utilise the advanced bank verification system to instantly verify your bank information online. If you opt to upload copies of your bank statements, we’ll be able to provide an answer in just one business day.
For Larger Business Loans ($100K to $500K) we might be in a position to provide you with a conditional pre-approval within six hours. Once you have signed the pre-approval, the turnaround time is between 2 and 3 days for the final approval, however this may be quicker depending on the specifics of each application. Some deals have been approved within the space of 24 hours.
The fastest way can be make sure you apply during standard business hours, and allow us to use our advanced bank verification system to confirm your bank details online. If you opt to upload documents from your account statements it may take a bit longer.
We offer loans that range from $5,000 and $500,000. If you apply for a specific amount we look at a variety of aspects to determine your well-being of the business and the extent of payments your business can afford. The amount you receive from your loan will depend on the specific circumstances of your business.
When you apply for a particular amount, we will consider a number of factors to determine your well-being of the company and the extent of the repayments your company can support. The total amount of your loan will be contingent on the particulars the business.
When you apply for our company credit, we will assess the risk profile of your business and provide you with a customised offer that includes the amount of loan, the term and interest rates. A business loan is a loan that is priced upfront and you’ll know the exact amount due, which includes any charges, interest rates or fees.
Interest rates for company loans rates differ based on various factors such as the amount that is borrowed, what business assets the funds are used to purchase in addition to the industry that the business operates in, the long the business is in operation for, in the event that the company has sufficient cash flow to support the loan, and overall well-being or creditworthiness of the business.
There are no hidden costs with our company loans. You’ll know precisely what you’ll be required to pay, and when, from the first day. There’s not any compounding interest and no extra fees (as as you make your payments punctually).
We do not charge an application fee. You are able to make an application for loans with without any upfront costs or commitment to apply.
The Origination Fee covers the expenses involved with establishing and managing the loan. You are only charged this fee if you choose to proceed with the loan. Our Origination Fee is 2.5% of the amount of the loan.
You can repay the entire amount of your loan early at any time.
If you choose to pursue this option, please contact our helpful business lending experts. They will provide you with details for repayment and an early payout figure. This will be calculated as the sum of the remaining principal amount and the accrued interest up to the time of early payout, plus 1.5 percent of the principal balance as well as any outstanding fees.
In order to help you avoid missing payments and to work with your cash flow cycle we offer repayments either daily or weekly. These are automatically withdrawn from your nominated business account.
The security of your personal information, as well as being clear about how we collect the information we collect, use, share and safeguard your data, is vital and an integral aspect of our relationship with you.
Yes. We employ industry-recognised encryption standards to protect your sensitive, personal as well as financial data. Our funders are ISO 27001 certified for our commitment to customer security and security. We utilise a sophisticated bank verification system to instantly confirm your bank account information online so we can provide rapid response.
The term "asset-based" refers to borrowing where the business owner makes use of an asset they own to secure the loan. The asset can be an individual property, such as the family home, or an company asset like a truck as well as a piece of machine.
The vast majority of lending institutions, not just the big banks, tend to guarantee loans against an asset. If you have trouble paying back the loan then your asset may be offered for sale by the lender. In essence, it is a way of securing new financing taking advantage of the value of what you already own.
Up to $150,000 in loans no asset security is required upfront to access the money however, we do need an individual guarantee. As long as you follow your loan obligations (as specified in your loan contract) the security of assets will never be needed. If you take out loans in excess of $150K generally, there is a personal guarantee and security in the form an asset charge.
