The criteria for eligibility for an unsecured business loan in Adelaide of between $5K to $100K are quite minimal.
Need more funds? Check out the eligibility requirements for our $100K-$500K business credit.
All that’s needed for starting is your contact information (the name of your company, your name, email, phone) and the amount you’d like to borrow and your monthly revenue.
In the course of the process and before settlement we’ll need confirmation of who you are, but not to get started:
Once we’ve started, for loans of more than $150,000 you will also need basic financial statements:
Let’s get started now.
Adelaide unsecured loans provides the range of $5,000 to $100,000. Terms range from 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 on your account within 24 hours. Traditional business loans reference an annual interest rate along with other charges and fees. Our company loan is a pre-paid loan therefore you’ll know ahead of time the total amount due, which includes the interest, fees and charges. This is then broken down into weekly or daily payment amount.
A Small Business Loan can be used for almost every company reason, such as cash flow management, business improvements, advertising, to purchase inventory or new equipment, as general working capital, and much more. The loan is not available for personal reasons.
The Larger Business Loan is a larger loan size to support company growth opportunities. Loans are between $100,000 and $500,000 for a fixed period of with a maximum of 36 months. Repayments are scheduled weekly or fortnightly to work with you cashflow.
This Larger Business Loan has an Origination Fee, determined at 2.5 percentage of the amount of the loan.
To be eligible for a credit in this amount the company needs to be in operation for at least 3 years, and have an annual income of $700K. The applicant must also be 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 prove at minimum 12 months of business.
A larger company loan can be used for almost every business purpose including business renovations, purchase of equipment or inventory or as general working capital and much more. The loan cannot be used for personal purposes.
Asset security is required to obtain funding above $150,000. This is in the form of a charge over assets, which could also include registering this with the PPSR or registering as a caveat.
A personal or director’s ensure is a promise to repay a loan which is general in nature, rather than defining security over 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 contains security interests that are registered for personal property (including the assets or goods). The PPSR grants priority over personal property to be assigned according to the date a security interest has been registered.
Caveats are legal document lodged to provide the public notice of a legal claim on a property.
If you’re requesting larger company loans that exceeds $250,000 we may be able to provide an initial pre-approval to make the process. We could be able to make this decision without credit checks and within 6 hours of the initial application. This pre-approval is based on a preliminary assessment which includes you answering some financial health questions. It’s neither an offer nor a guarantee of credit. Unconditional approval is subject to a full credit assessment and any offer you receive could be subject to different terms.
You can apply for an company loan if you:
The application process is quick and simple. Simply complete the online form in just a few minutes, and a dedicated company lending specialist will contact you to guide you.
To apply for up to $100,000 you’ll require ID details (valid Driver’s License) as well as a valid NZBN/IRD as well as at least 6 months’ worth of bank statements.
If you’re looking for loans with larger sizes, you’ll require:
$100K – $250K: Information about the application including credit consent, 6 – 12 months of IRD statements, bank statements (if loan above $150K).
$250K to $500K: Application details including credit consent, 12 months bank statement, an IRD statements and the last two years’ finalised financial statements, as well as interim financial statements for the current year including Aged Payables, Aged Receivables Summary.
For an unsecured loan ($5K and up) We can usually provide a response in one hour if you make your application within standard company hours and permit us to make use of the advanced bank verification system link to instantly verify your bank information online. If you opt to upload copies of your banking statements we can provide the decision within the span of one company day.
For Larger Business Loans ($100K to $500K) we may be likely to offer the conditional pre-approval within 6 hours. After you’ve signed your pre-approval, the turnaround time is about 2-3 days for final approval, however this could be shorter based on the particular circumstances of each application. Certain agreements have been approved in the space of 24 hours.
The quickest way to apply for you to apply is make sure you apply during standard business hours and permit us to use the modern bank verification link to instantly verify your bank information online. If you choose to upload duplicates of your banking statements it will take a little longer.
For the Small Business Loan ($5K to $100K) we usually offer an answer in just one hour if you apply during normal business timings and allow us to use the bank verification system to instantly verify your bank details online. If you choose to send us copies of your bank statement, we’ll offer a decision within the span of one business day.
If you are applying for Larger Business Loans ($100K up to $500,000) we may be likely to offer you with conditional pre-approval in around six hours. Once you’ve signed the pre-approval document, you will need to wait approximately 2-3 days to receive final approval. However, it could be faster based on the specifics of each application. Some transactions have received approval in the space of 24 hours.
The fastest method is to ensure you apply during normal business hours. Also, allow us to use the advance bank verification link to check your bank’s information online. If you send us copies of your bank statements it will take a little longer.
We offer the loan amount between $5,000 to $500,000. When you make an application for a specific amount we consider a variety of variables to determine how much we can lend you health of your company as well as the amount of repayments that your business can support. The total amount of your loan will depend on the specific circumstances of your business.
When you apply for a specific amount we will consider a number of elements to assess how much we can lend you such as health of your company and the level of repayments that your business can afford. The amount you receive from your loan will be determined by the specifics the company.
When you make an application for one of our business loan, we’ll assess the risk profile of your business and provide you with a customised offer, including the amount of loan, the term and the interest rates. A business loan is an upfront-priced loan and you’ll be aware in advance of the total amount you will have to pay, including charges or interest.
Business loan interest rates depend on a variety of factors such as the amount that is borrowed, what company assets the money are used to purchase, the industry the business operates in, how long the business is in operation and in the event that the business has sufficient cash flow to pay for the loan, and the overall health or creditworthiness of the business.
There aren’t any hidden charges for our company loans. You’ll know exactly how much it is that you need to pay, and when, starting from the day you sign up. There’s no compounding and the loan comes with no additional fees (as long as you make your payments on time).
We don’t charge an Application Fee. You are able to make an application for loans with with no upfront cost or any obligation to sign up.
The Origination Fee covers the expenses involved with establishing and managing the loan. You are only charged this fee if you decide to take the loan. Our Origination Fee is 2.5 percentage of the amount of loan.
You may choose to pay back the entire amount of your loan at any point in time.
If you decide to take this route, please call our helpful business credit professionals. We will provide you with details on repayment and an early payment figure. It will be calculated using the sum of the principal remaining and accrued interest to the date of early payout, plus 1.5% of the remaining principal and any outstanding fees.
To ensure that you don’t miss payment dates and to align with your cash flow cycle we provide repayments either daily or weekly. They are automatically deducted from your nominated company account.
Security of your data, and knowing how we collect data, process, exchange and safeguard your data, is vital and a vital part of our relationship with you.
Yes. We make use of industry-standard encryption techniques to protect your sensitive, personal 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 make use of an advanced bank verification system link to immediately verify your bank account details online so we can offer quick responses.
Asset-based borrowing is when the company owner borrows from an asset that they own to get the funds for a loan. The asset can be either a personal asset like the family home, or an business asset such as a truck or piece or equipment.
The vast majority of the lenders including the big banks, tend to guarantee loans against assets. If you’re having trouble paying back the loan, then your asset may be offered for sale by the lender. In essence it’s an opportunity to secure new funding taking advantage of the value of what you already have.
Up to $150,000 in loans there is no requirement for asset security in advance to gain access to the funds, however we require a personal guarantee. need a personal guarantee. If you adhere to the loan terms (as specified in your loan contract document) Asset security will never be required. For loans of over $150,000 generally, there is a personal guarantee and security in the form of a charge over assets.
