The requirements for getting an unsecured business loan in Adelaide of between $5K and $100K are pretty minimal.
Looking for more funding? Take a look at the guidelines for eligibility for our $100K-$500K business loan.
All that’s required for starting is your contact information (the name of your company, your name, email address and phone) and the amount you’d like to borrow and your monthly income.
In the course of the process and before settlement we’ll require confirmation of your identity, but not for starting:
After we start in the process, for loans greater than $150,000 you will also need the following financial statements:
Let’s get started now.
Adelaide unsecured loans offers amounts between $5,000 and $100,000. Terms range from 3 and 24 months and cash flow friendly repayments that are either per day or weekly.
The application for this Small Business Loan in under 10 minutes on the internet or by phone. You will receive a same day response and have the funds in your account within 24 hours. Traditional company loans have an annual interest rate together with additional fees and charges. We offer a company loan is a cash-based loan therefore you’ll know in advance the amount you will have to pay, including any fees, charges or charges. Then, it is broken down into weekly or daily installment amount.
The Small Business Loan can be used for nearly every company use, including control of cash flow business improvements, advertising to purchase inventory or new equipment, to fund general working capital and so much more. The loan cannot be used for personal use.
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 term fixed up to 36 months. Repayments are scheduled weekly or fortnightly, depending on you cashflow.
It is important to note that the Larger Business Loan has an Origination Fee, determined at 2.5 percent of the amount of the loan.
To be eligible for a loan of this size the company needs to have been operating for at least three years and generate an annual revenue of at least $700K. The applicant must also be a New Zealand Citizen (or Permanent Resident) over 18 years, own a New Zealand company (with a valid NZBN/IRD) and be able to prove at least 12 months of trading.
A Larger Business Loan can be used for nearly all company purpose including business renovations, to purchase inventory or new equipment or as general working capital, and much more. The loan cannot be used to fund personal expenses.
Asset security is necessary for accessing funds over $150,000. This can be done in the form of a charge against assets and can include registration through the PPSR or registering as a caveat.
A director’s or personal ensure is a promise to repay a loan which is generally based rather than defining security over an asset. The person signing the guarantee is personally liable in the event that the business the borrower fails to make the repayment.
The Personal Property Securities Register (PPSR) is a central, national online register operated by the New Zealand Government. It reflects security interests which are registered with respect to personal property (including goods or assets). The PPSR grants the priority of personal property assigned in accordance with the date on which a registration of a security interest.
Caveats are legal document that is filed to provide the legal claim to a property.
When you’re applying for an enterprise loan that is greater than $250K it’s possible to offer an initial pre-approval that will help smooth out the process. We might be able to get this done without a credit check, and within 6 hours of the initial application. The pre-approval process is based on a preliminary assessment which includes answering a couple of financial health questions. It is not an offer of credit or guarantee of financing. Acceptance without condition is subject to an exhaustive credit evaluation, and any offer you might receive could be subject to different conditions.
You can apply for an business loan if you:
The application process is quick and simple. Simply complete the online form within a few minutes and an experienced company lending specialist will call you to help you.
To apply for up $100,000, you’ll need identification details (valid Driver’s Licence), an NZBN/IRD that is valid and at least 6 months’ worth of bank statements.
Otherwise, for larger loan sizes, you’ll need:
$100K – $250K: Application details including credit approval, 6-12 months of IRD statements, bank statements (if credit is over $150K).
$250K to $500K: Information on the application including credit consent twelve month bank accounts, the IRD statements as well as the two most recent years’ financial statements, plus interim current financial year financials including Aged Payables, Aged Receivables summaries.
For an unsecured loan ($5K to $100K) we usually offer a response in one hour – as long as you make your application within standard business hours and let us utilise the advanced bank verification system to instantly verify your bank information online. If you decide to send us copies of your bank statement, we’ll provide a decision within just an business day.
For Larger Business Loans ($100K or more) we may be able to offer you with pre-approval conditional to your application within six hours. Once you’ve signed the pre-approval document, you will require to wait approximately 2-3 days to receive final approval. However, this can be quicker based on the circumstances of each application. Certain offers have been approved within just 24 hours.
The quickest method is to ensure you apply during standard company hours and allow us to use the advanced bank verification system link to instantly verify your bank information online. If you opt to send us the copies of bank statements , it will take a little longer.
For the Small Business Loan ($5K to $100K) we typically offer an answer within one hour – as long as you submit your request at standard business timings and allow us to utilise the advanced bank verification system link to instantly verify your bank’s information online. If you want to upload copies of your bank statements, we are able to offer the decision in just 1 business day.
For Larger Business Loans ($100K or more) we might be able to offer the conditional pre-approval in about 6 hours. Once you’ve signed your pre-approval, the turnaround time is around 2-3 days for final approval. However, it could be faster based on the particular circumstances of each application. Some deals have been approved in just 24 hours.
The most effective method is to make sure you apply during normal business hours and allow us to use our advanced bank verification system to instantly check your bank’s information online. If you upload duplicates of your banking statement, it can take a bit longer.
We provide loans that range from $5,000 to $500,000. When you submit an application for a certain amount we take into consideration a range of elements for determining your health of the company and the level of repayments your business can afford. The total amount of the loan will be determined by the particular circumstances that are unique to your company.
When you submit an application for a certain amount, we look at a range of elements to determine the health for your company and the level of repayments that your company is able to afford. The total amount of your loan will be contingent on the specifics of your business.
If you decide to make an application for business loans with us company credit, we will assess the risk assessment of your company and offer an individualised offer including loan amount, term and interest rates. This business loan is an upfront cost loan so you will be aware of the total amount you will have to pay, including charges, interest rates or fees.
Interest rates for business loans rates depend on a variety of factors such as the amount that is borrowed, the business assets the funds are used to purchase in addition to the industry that the business operates in, the long the company has been running, in the event that the business has sufficient cash flow to fund the loan, as well as the general well-being and creditworthiness of the business.
There aren’t any hidden costs for our company loans. You’ll know exactly how much you need to pay, and at what time, from the day you sign up. There’s no compounding and there are no additional charges (as as you make your payments in time).
We don’t charge an Application Fee. You are able to make an application for loans with no upfront cost or commitment to apply.
The Origination Fee includes the expenses associated with the setting up and management of the loan. The only way to pay this cost if you take out the loan. The Origination Fee for us is 2.5 percentage of the loan amount.
You can choose to repay the entire amount of the loan in full at any time.
If you do decide to pursue this option, please talk to one of our helpful company lending experts. We will offer you with the details of your repayment and an early payment figure. The figure will be calculated as the total of the remaining principal amount and the accrued interest up to the time of early payment in addition to 1.5% of the principal amount remaining and any fees that remain unpaid.
In order to help you avoid missing payment dates and to align with your cash flow standard, we provide payments that are either weekly or daily. These are automatically withdrawn from your designated business account.
Protecting your information, and being upfront about how we collect, use, exchange and secure your information, is of huge importance and is a crucial part of our relationship you.
Yes. We utilise industry-recognised encryption standards to protect your sensitive, personal as well as financial data. Our funders are ISO 27001 qualified for our dedication to protecting the security of customers and privacy. We employ an exceptionally sophisticated banking verification system to immediately confirm your bank account information online to provide an immediate response.
An asset-based loan is when an company owner borrows from an asset they own to secure the loan. The asset could be an individual asset, such as the family home, or it could be a company asset like a truck or piece or equipment.
The vast majority of lenders, including the largest banks, are inclined to make loans secured by an asset. If you are having difficulty paying back the loan, the asset could be offered for sale by the lender. In essence it is the process of securing new funding using the value of what you already own.
For loans of up to $150K, no asset security is required upfront to access the money, however we require a personal guarantee. require an individual guarantee. As long as you follow your loan obligations (as stated in your loan contract) the security of assets is not required. For loans that exceed $150K, generally, you can get a personal ensure and security that is in the form an asset charge.
