The criteria for eligibility for an unsecured business loan in Adelaide of between $5K to $100K are quite minimal.
Looking for more funding? Take a look at the conditions of eligibility for our $100K to $500K business loans.
All you need to get started is your contact details (company name, your name, email and phone) along with the amount you’d like to borrow and your monthly income.
Through the process and before settlement we’ll need confirmation of who you are however, not in order to begin:
After we start with loans that exceed $150,000, you’ll require basic financial statements.
Let’s get started.
Adelaide unsecured loans provides amounts between $5,000 and $100,000. The terms range between 3 and 24 month and cash flow-friendly repayments that are either daily or weekly.
It is imaginable to apply to the Small Business Loan in under 10 minutes via the internet or over the phone, receive an immediate response, and the money could be in your account in 24 hours. Traditional business loans have an interest rate per annum together with additional fees and charges. Our business loan is an upfront priced loan so you will be aware of the total amount to be paid, including any fees, charges or charges. This is then broken down into a daily or weekly installment amount.
A Small Business Loan can be used to fulfill almost every business purpose including control of cash flow business remodeling, marketing to purchase inventory, new equipment, or as general working capital and much more. The loan cannot be used for personal purposes.
The Larger Business Loan is a larger amount of loan to help company expansion opportunities. Loans are between $100,000 and $500,000 with a fixed-term with a maximum of 36 months. Repayments are weekly or fortnightly to work with your situation.
A Larger Business Loan has an Origination Fee which is determined at 2.5 percent of the loan amount.
In order to be eligible for a loan in this amount, your company needs to have been operating for at least three years with an annual turnover of at least $700K. The applicant must also be a New Zealand Citizen (or Permanent Resident) with a minimum age of 18 years old, own a New Zealand company (with a valid NZBN/IRD) and be able demonstrate at minimum 12 months of business.
A Larger Business Loan can be used for nearly every business use, including business remodeling, buying new equipment or inventory for general working capital, and much more. The loan cannot be used for personal reasons.
Asset security is required for funding of more than $150,000. It’s as a result of an charge over assets, and could include registering this in the PPSR or filing as a caveat.
A personal or director’s ensure is a guarantee to pay off a credit line that is generally based rather than specifying security over an asset. The person who signs the guarantee is personally accountable if the business creditor is unable to make the repayment.
The Personal Property Securities Register (PPSR) is an online, central registry run by the New Zealand Government. It contains security interests registered in respect of personal property (including the assets or goods). The PPSR permits prioritisation over property that is personal to be assigned according to the date a registration of a security interest.
An affidavit is an official document lodged to offer notice of a legal claim on a property.
If you’re applying for a Larger Business Loan of $250,000 or more, we may offer an initial pre-approval to ease the process. We could be able to do this without a credit check and within 6 hours of the initial application. The pre-approval process is based on an initial evaluation that involves the answer to a series of financial health questions. This is not an offer or guarantee of financing. Acceptance without condition is subject to a full credit assessment and any offer that you may receive may be based on different terms.
You can apply for a company loan if you:
The process for applying is fast and easy. Just complete the online application within a couple minutes, and an experienced business credit specialist will be in touch to guide you through the process.
For a loan of up to $100,000 you’ll need proof of identity (valid Driver’s Licence), an NZBN/IRD that is valid and at least 6 months’ worth of bank statements.
In addition, for larger loan sizes, you’ll also require:
$100K to $250K: Details of application, including credit consent, 6 – 12 months of bank statements, IRD statement (if loan above $150K).
$250K to $500K: Details of the application, including credit consent and 12 months of bank statements, IRD statement, last 2 years finalised financial statements, plus interim financial statements for the current year, Aged Payables and Aged Receivables Summary.
For an unsecured loan ($5K up to $100,000) We can usually offer an answer in just one hour, provided you make your application at quality company hours and permit us to utilise the bank verification system to instantly verify your bank’s information online. If you opt to send us copies of your bank statement, we’ll offer an answer in as little as the span of one company day.
For the Larger Business Loan ($100K and up) we may be able to provide you with conditional pre-approval within six hours. Once you’ve signed the pre-approval document, you will require to wait about 2-3 days for final approval. However, this may be quicker depending on the specifics of each application. Certain offers have been approved within less than 24 hours.
The quickest way to apply is to ensure you apply during normal company hours, and allow us to use our modern bank verification link to instantly verify your bank account information online. If you decide to upload duplicates of your banking statements , it will take a little longer.
For the Small Business Loan ($5K or more) We can usually offer an answer within one hour – provided you apply in normal business timings and let us use the advanced bank verification system to immediately verify your bank account information online. If you opt to upload copies of your banking statements, we’ll be able to provide a decision in as little as 1 business day.
If you are applying for Larger Business Loans ($100K and up) We may be able to provide you with pre-approval conditional to your application in around 6 hours. After you’ve signed the pre-approval, turnaround times are about 2-3 days for final approval, however it could be faster based on the circumstances of each application. Some agreements have been approved within 24 hours.
The fastest method is to ensure you apply during standard business hours and let us use the advance bank verification link to instantly check your bank’s information online. If you opt to upload the copies of bank statements it takes a bit longer.
We provide loan amounts between $5,000 and $500,000. If you apply for a particular amount, we look at a variety of factors to determine the health of your company and the amount of repayments your company can afford. The amount you receive from your loan will be contingent on the specifics that are unique to your business.
If you apply for a particular amount, we will consider a number of aspects to determine how much we can lend you such as health of your company and the extent of the repayments your company can afford. The total amount of your loan will be contingent on the particular circumstances that are unique to your company.
If you decide to apply for our company financing, we’ll assess the risk assessment the company and offer you with a tailored offer, including the amount of the loan, the duration and interest rates. It is a company loan is an upfront-priced loan so you will know the exact amount due, which includes any charges, interest rates or fees.
Business loan interest rates differ based on various factors such as the amount that is of money borrowed, the company assets the funds are used to purchase and the sector the business operates in, how long the business has been in operation for, how long the company has sufficient cash flow to support the loan, as well as the general health and creditworthiness of the company.
There aren’t any hidden charges for our business loans. You’ll be aware of the amount it is that you need to pay and when, from day one. There’s no compounding and no extra fees (as as you make your payments on time).
We do not charge an Application Fee. You are able to apply for a loan with no cost upfront or any obligation to sign up.
The Origination Fee includes the expenses associated in establishing and managing the loan. It is only charged for this fee if you choose to proceed with the loan. Our Origination Fee is 2.5% of the loan amount.
You can choose to repay all of your loan in full at any time.
If you choose to do this please talk to one of our helpful business lending experts. The experts will provide you with repayment details along with an early payout estimate. This is calculated as the total of the principal balance plus any accrued interest as of the date of early payout, plus 1.5 percent of the principal remaining and any outstanding fees.
To make sure you do not miss payment dates and to align with your cash flow routine, we provide repayments either daily or weekly. They will be automatically deducted from your designated business account.
Protecting your information, and knowing how we collect data, process, exchange and ensure the security of your information is vital and is an essential aspect of our relationship with you.
Yes. We use industry recognised encryption techniques to protect your personal, sensitive and financial data and our funders are ISO 27001 qualified for our commitment to the security of our customers as well as their privacy. We employ a highly sophisticated banking verification system to instantly confirm your bank account information online so we can offer rapid response.
The term "asset-based" refers to borrowing where a company owner makes use of the assets they have to obtain the funding. The asset may be an individual property, such as the family home or an business asset such as a vehicle or piece of equipment.
The vast majority of banks, including the big banks, tend to guarantee loans against an asset. If you’re having trouble paying back the loan, then the asset could be offered for sale by the lender. In essence, it is the process of securing additional financing making use of the value of what you already own.
Up to $150,000 in loans the requirement for asset security is not 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 stipulated in your loan contract document) Asset security is not needed. For loans that exceed $150K, generally there is a personal guarantee and security that is in the form the charge of assets.
