The requirements for getting an unsecured business loan in Adelaide of between $5K and $100K are pretty minimal.
Do you require more money? Take a look at the guidelines for eligibility for our $100K-$500K company loan.
All that’s required to begin is your contact details (the name of your company, your name, email and telephone), how much you want to borrow, and your monthly income.
In the course of the process and before settlement we will need confirmation of your identity but not to get started:
In addition, once we have started in the process, for loans that exceed $150,000, you’ll also need basic financial statements:
Let’s get started.
Adelaide unsecured loans offers amounts between $5,000 and $100,000 with terms between 3 and 24 months and cash flow-friendly repayments that are either daily or weekly.
The application to this Small Business Loan in under 10 minutes on the phone. You’ll receive an immediate response, and the money could be in your account in 24 hours. Traditional company loans reference an annual rate of interest along with other charges and fees. We offer a company loan is a pre-paid loan therefore you’ll be aware of the total amount to be paid, including any fees, interest or charges. This is then divided into a daily or weekly payment amount.
The Small Business Loan can be used for almost any business use, including cash flow management, company renovations, marketing to purchase inventory or new equipment, as general working capital and so much more. The loan cannot be used for personal purposes.
The Larger Business Loan is a larger size of loan that can be used to fund company growth opportunities. Loans range from $100,000 to $500,000 with a fixed-term for up to 36 months. Repayments are weekly or fortnightly in order to accommodate you cashflow.
This Larger Business Loan has an Origination Fee, which is determined at 2.5 percentage of the loan amount.
In order to be eligible for a loan that is this large, your company needs to have been operating for a minimum of 3 years and generate an annual revenue of at least $700K. The applicant must also be a New Zealand Citizen (or Permanent Resident) who is over the age of 18, own a New Zealand business (with a valid NZBN/IRD) and be able of proving at minimum 12 months of continuous trading.
A large business loan can be used for almost all business purpose including business improvements, purchasing inventory or new equipment as well as for general working capital, and much more. The loan cannot be used for personal use.
Asset security is required to obtain funding above $150,000. This can be done as a result of an charge over assets, and could include the registration of this with the PPSR or filing a caveat.
A personal or director’s guarantee is a promise to repay a loan which is general in nature rather than stipulating security over a particular asset. The person signing the ensure is personally liable if the company borrower is unable to re-pay the debt.
The Personal Property Securities Register (PPSR) is an online, central register run by the New Zealand Government. It contains security interests registered in respect of personal property (including the assets or goods). The PPSR allows preference over private property granted according to the date the security interest was registered.
Caveats are legal document lodged to provide the legal claim to property.
If you’re seeking larger business loans that exceeds $250K we can offer an initial pre-approval that will help simplify the process. We could be able to apply for 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. It’s not an offer or guarantee of finance. The approval of a conditional loan is subject to an exhaustive credit evaluation, and any offer you are offered could be subject to different terms.
You may apply for an business loan if you
The application process is simple and easy. Simply complete the online form in few minutes and an experienced company credit specialist will be in touch to help you.
To be eligible for up to $100,000, you’ll need ID details (valid Driver’s License), an active NZBN/IRD, and at least 6 months of bank statements.
If you’re looking for loans with larger sizes, you’ll need:
$100K to $250K: Information about the application including credit approval, 6-12 months of IRD statements, bank statements (if the loan is greater than $150K).
$250K-$500K: Application details including credit consent, 12 months of bank statements, IRD statements, last 2 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 up to $100,000) we typically offer an answer within an hour – as long as you apply at standard business timings and let us utilise the bank verification system link to instantly verify your bank information online. If you want to upload copies of your banking statements , we are able to provide the decision in as little as 1 business day.
For the Larger Business Loan ($100K or more) we could be in a position to provide you with a conditional pre-approval in around 6 hours. Once you have signed the pre-approval form, it will take around 2-3 days for final approval. However, this could be shorter based on the particular circumstances of each application. Certain transactions have received approval in less than 24 hours.
The fastest way for you to apply is make sure you apply during standard business hours and allow us to use the modern bank verification link to verify your bank information online. If you opt to upload documents from your account statements it will take a little longer.
For the Small Business Loan ($5K or more) we usually provide an answer within one hour – provided you apply in standard business timings and you allow us to use the advanced bank verification system to instantly verify your bank information online. If you want to upload copies of your bank statements, we are able to offer the decision in as little as the span of one business day.
If you are applying for Larger Business Loans ($100K or more) we might be able to offer you with pre-approval conditional to your application in around 6 hours. Once you’ve signed the pre-approval document, you will need to wait approximately 2-3 days to receive final approval, however this can be faster depending on the specifics of each application. Some transactions have received approval in the space of 24 hours.
The most efficient method is to make sure you apply during normal business hours. Also, allow us to use our sophisticated bank verification link to instantly verify your bank information online. If you decide to send us documents from your account accounts, it may take a bit longer.
We offer loans ranging from $5,000 to $500,000. When you submit an application for a certain amount, we consider a variety of factors in order to assess what is the health for your company and the extent of payments your company can support. The total amount of your loan will be contingent on the specifics that are unique to your business.
When you submit an application for a certain amount, we take into consideration a variety of variables to assess the health of the company as well as the amount of the repayments your company can support. The total amount of your loan will be determined by the specifics for your company.
If you decide to apply for one of our business loan, we will assess the risk profile for your company and offer you with a customised offer that includes the amount of the loan, the duration and interest rates. The business loan is a loan that is priced upfront which means you be aware in advance of the total amount due, which includes any costs, fees, or interest rates.
Business loan interest rates differ based on various factors such as the amount that is of money borrowed, the company assets the funds will be used for and the sector the company operates in, how long the business is in operation for, how long the company has sufficient cash flow to cover the loan, as well as the overall health or creditworthiness of the business.
There are no hidden costs for our company loans. You’ll know precisely what you need to pay, and when, starting from the first day. There’s no compounding and the loan comes with no additional fees (as as you make your payments punctually).
We don’t charge an Application Fee. You can get a cash loan without any upfront costs or any obligation to sign up.
The Origination Fee is the cost associated with the setting up and management of the loan. This is only a fee if you decide to take the loan. The Origination Fee for us is 2.5 percent of the amount of loan.
You can repay all of your loan early at any time.
If you choose to pursue this option, please call our helpful company loans experts. They will provide you with details for repayment and an early payout figure. This will be calculated as the sum of the principal amount remaining and accrued interest to the date of early payout, plus 1.5% of the principal remaining plus any outstanding fees.
In order to help you avoid missing due dates and also to be in line with your cash flow cycle we provide payments that are either weekly or daily. These are automatically deducted from your designated company account.
Security of your data, and making it clear the ways we gather information, use it, and exchange it, as well as protect your information, is crucial and is an essential element of our relationship with you.
Yes. We use industry recognised encryption standards to protect your sensitive, personal as well as financial data. Our funders are ISO 27001 qualified for our commitment to protecting the security of clients and security. We use an advanced bank verification system to instantly verify your bank account information online. This allows us to provide rapid response.
An asset-based loan is when a business owner uses assets they own to get the loan. The asset may be an individual asset, such as the family home or a business asset such as a vehicle or other piece of machinery.
The vast majority of banks, not just the banks with the biggest size, prefer to guarantee loans against assets. If you are having difficulty paying back the loan then the asset might be sold by the lender. In essence it’s means of securing additional financing taking advantage of the value of what you already have.
For loans that exceed $150K, it is not necessary to secure assets prior to the loan’s access however, we do need the personal guarantee. So long as you comply with your loan obligations (as specified in your loan contract document) Asset security is not required. If you take out loans in excess of $150,000 generally there is a personal ensure and security is provided in the form of the charge of assets.
