The criteria for eligibility for an unsecured business loan in Adelaide of between $5K and $100K are fairly minimal.
Do you need more money? Take a look at the eligibility requirements for our $100K to $500K company loans.
All that’s needed for starting is your contact details (company name, your name, email and telephone) along with the amount you want to borrow, and your monthly income.
While in the process and before settlement we’ll require confirmation of your identity, but not for starting:
Once we’ve started, for loans greater than $150,000 you will also need the following financial statements:
Let’s get started.
Adelaide unsecured loans offers amounts of between $5,000 and $100,000. Terms range from 3 and 24 month and cash flow-friendly repayments which can be made daily or weekly.
Apply for your Small Business Loan in under 10 minutes online or by phone. You will receive an answer within the same day and the money could be on your account within 24 hours. Traditional company loans are based on an interest rate per annum as well as other fees and charges. This company loan is a cash-based loan therefore you’ll know ahead of time the total amount payable including any fees, interest or charges. Then, it is broken down into either a daily or weekly repayment figure.
The Small Business Loan can be used for nearly every business use, including cash flow management, business remodeling, marketing to purchase inventory or new equipment, or as general working capital and much more. The loan is not available for personal purposes.
The Larger Business Loan is a larger loan size to support business growth opportunities. The loan ranges from $100,000 to $500,000 with a fixed-term up to 36 months. Repayments are scheduled weekly or fortnightly to work with the flow of cash.
It is crucial to note that the Larger Business Loan has an Origination Fee, which is determined at 2.5% of the amount of the loan.
In order to be eligible for a loan of this size, your business needs to be trading for at least 3 years with an annual turnover of $700,000. The applicant must also be a New Zealand Citizen (or Permanent Resident) over 18 years as well as own a New Zealand business (with a valid NZBN/IRD) and be able to demonstrate at minimum 12 months of business.
A large company loan is a great option for almost every business purpose including business improvements, purchasing inventory or new equipment, as general working capital and so much more. The loan cannot be used to fund personal expenses.
Asset security is required to access funding over $150,000. It is usually by way of charge against assets, and could include the registration of this with the PPSR or the registration of as a caveat.
A director’s or personal ensure is a guarantee to repay credit that is general in nature, rather than specifying security over an asset. The person who signs the ensure is personally liable in the event that the business lender is not able to pay back the debt.
The Personal Property Securities Register (PPSR) is a central, national online registry run by the New Zealand Government. It contains security interests registered in respect of personal property (including the assets or goods). The PPSR grants preference over private property granted depending on the date that a security interest was registered.
An affidavit is an official document lodged to offer an official notice of a claim to property.
When you’re applying for the Larger Business Loan that is greater than $250K we may be able to provide a preliminary pre-approval to help simplify the process. We could be able to do this without a credit check and within 6 hours of your initial application. This pre-approval is made based on a preliminary assessment which includes you answering some financial well-being questions. This is in no way an offer, nor is it a guarantee of financing. A conditional approval is subject an assessment of your creditworthiness and any offer you are offered could be based on different conditions.
You may apply for an company loan if you;
The application process is simple and simple. Simply complete the online form within a couple minutes, and an experienced business expert in lending will be in touch to assist you.
To be eligible for up to $100,000, you’ll need proof of identity (valid Driver’s Licence) as well as an active NZBN/IRD, and at least six months of bank statements.
In addition, for larger loan sizes, you’ll require:
$100K – $250K: Application details including credit approval, 6-12 months of IRD statements, bank statements (if loan above $150K).
$250K to $500K: Information on the application including credit consent, 12 months bank statement, an IRD statement, last 2 years finalised financial statements, plus interim financials for the current financial year including Aged Payables, Aged Receivables Summary.
For an unsecured loan ($5K to $100K) we usually offer a response in one hour, provided you apply in standard company times and permit us to utilise the advanced bank verification system link to immediately verify your bank account information online. If you decide to upload copies of your banking statements we can provide a decision within the span of one company day.
For the Larger Business Loan ($100K and up) we may be likely to provide you with a conditional pre-approval in around 6 hours. After you’ve signed the pre-approval, turnaround times are approximately 2-3 days to receive final approval. However, it could be faster based upon the circumstances for each application. Some offers have been approved in the space of 24 hours.
The quickest way to apply is to make sure you apply during normal company hours. You can also let us use the advance bank verification to instantly verify your bank 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 can usually offer an answer within one hour – provided you apply at standard business timings and permit us to make use of the advanced bank verification system link to instantly verify your bank information online. If you choose to upload copies of your banking statement, we’ll provide an answer within the span of one business day.
For the Larger Business Loans ($100K and up) We may be capable of offer you with pre-approval conditional to your application in about six hours. Once you have signed the pre-approval, the turnaround time is approximately 2-3 days to receive final approval, however this could be shorter based on the specifics of each application. Some agreements have been approved within 24 hours.
The quickest method is to ensure you apply during normal business hours. Also, allow us to use our modern bank verification link to instantly verify your bank information online. If you opt to send us copies of your bank statements, it will take a little longer.
We provide loan amounts between $5,000 to $500,000. If you apply for a specific amount we will consider a number of variables in order to assess your well-being that is your business and the amount of repayments that your company can afford. The total amount of the loan will be determined by the particular circumstances for your business.
When you make an application for a specific amount we will consider a number of elements to determine your well-being of your business and the level of repayments that your business is able to afford. The total amount of your loan will be determined by the specific circumstances of your business.
When you request one of our company loans, we will assess the risk profile for your company and offer you with a tailored offer including the loan amount, the terms and interest rates. The company loan is a loan that is priced upfront therefore you will know the exact amount due, which includes any charges, interest rates or fees.
Interest rates for company loans rates depend on several factors including the amount borrowed, what business assets the funds are used to purchase, the industry the company operates in, how long the business has been in operation and how long the company has enough cash flow to fund the loan, and also the overall health or creditworthiness of the company.
There are no hidden costs with our business loans, and you’ll be aware of the amount you need to pay, and when, starting from the day you sign up. There’s no compounding interest and no additional fees (as long as you make your payments punctually).
We do not charge an application fee. You are able to request a credit loan no cost upfront or obligation to proceed.
The Origination Fee includes the expenses associated with establishing and managing the loan. The only way to pay this cost if you take out the loan. Our Origination Fee is 2.5% of the amount of loan.
You can choose to repay the entire amount of the advance loan at any time.
If you do decide to do this please talk to one of our helpful company lending specialists. The professionals will provide you with details on repayment and an early payout figure. It will be calculated using the total of the principal amount remaining and accrued interest to the time of early payout plus 1.5% of the principal remaining and any fees that remain unpaid.
In order to help you avoid missing repayments and to fit in your cash flow cycle we offer repayments that are either weekly or daily. They will be automatically deducted from the nominated company account.
Security of your data, and being clear about the ways we gather the information we collect, use, share and secure your information, is vital and an integral aspect of our relationship with you.
Yes. We make use of industry-standard encryption techniques to protect your personal, sensitive as well as financial data. Our funders are ISO 27001 certified for our dedication to customer security and privacy. We use an advanced bank verification system that allows you to immediately verify the bank account details online so we can offer an immediate response.
The term "asset-based" refers to borrowing where an business owner uses assets they own to obtain a loan. The asset can be either an individual asset, such as the family home, or it could be a company asset like a truck or piece of equipment.
The vast majority of the lenders including the largest banks, are inclined to make loans secured by an asset. If you have trouble paying back the loan, then the asset could be offered for sale by the lender. In essence it is the process of securing new financing taking advantage of the value of what you already have.
For loans of up to $150K, there is no requirement for asset security before you are able to access the money but we do need a personal guarantee. If you adhere to your loan obligations (as detailed in your loan contract), asset security will never be required. If you take out loans in excess of $150,000 typically, you will need an individual guarantee and security is provided in the form of a charge over assets.
