The requirements for getting an unsecured business loan in Adelaide of between $5K and $100K are pretty minimal.
Need more funds? Find out the eligibility requirements for our $100K-$500K business loan.
All you need to begin is your contact information (company name, your name, email address or phone number) along with the amount you’d like to borrow, and your monthly earnings.
During the process and before settlement we will need confirmation of your identity but not before we can begin:
Once we’ve started in the process, for loans greater than $150,000 you will also need fundamental financial statements:
Let’s get started.
Adelaide unsecured loans offers amounts between $5,000 and $100,000. The terms range between 3 and 24 month and cash flow friendly repayments, which are either daily or weekly.
Apply for your Small Business Loan in under 10 minutes on the internet or over the phone. You’ll get an immediate response, and the money could be on your account within 24 hours. Traditional company loans refer to an annual interest rate along with other charges and fees. Our company loan is a loan that is priced upfront and you’ll know ahead of time the total amount due, which includes the interest, fees and charges. Then, it is broken down into a daily or weekly repayment figure.
The Small Business Loan can be used to fulfill almost any business reason, such as the management of cash flow, business remodels and marketing 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 size loan to aid in company expansion opportunities. The loan ranges from $100,000 to $500,000 for a fixed period of with a maximum of 36 months. The repayments are made weekly or fortnightly, depending on you cashflow.
This Larger Business Loan has an Origination Fee that is determined at 2.5% of the amount of the loan.
To be eligible for a credit that is this large the business needs to have been in operation for at least 3 years, and have an annual income of $700,000. Your company must belong to 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 to prove at least 12 months of trading.
A larger company loan can be used for almost every company reason, such as company improvements, purchasing inventory or new equipment for general working capital and so much more. The loan is not available for personal purposes.
Asset security is required for accessing funds over $150,000. It’s by way of charge against assets, and may be registered with the PPSR or registering as a caveat.
A personal or director’s guarantee is a guarantee to pay off a credit line that is general in nature, rather than defining the security of a specific asset. The person signing the ensure is personally liable in the event that the business creditor is unable to repay the debt.
The Personal Property Securities Register (PPSR) is a central, national online register operated by the New Zealand Government. It lists security interests that are granted to individuals who own personal property (including items or assets). The PPSR allows priority over personal property to be granted according to the date a security interest has been registered.
Caveats are legal document lodged to provide the public notice of a legal claim to property.
If you’re applying for a Larger Business Loan that exceeds $250,000 it is possible to offer an initial pre-approval in order to smooth out the process. We could be able to do this without a credit check, and within 6 hours of your initial application. The pre-approval is based upon an initial evaluation that involves answering a couple of financial well-being questions. This is not an offer of credit or guarantee of credit. Unconditional approval is subject to a full credit assessment and any offer you receive could be on different terms.
You are eligible to apply for a business loan if you
The application process is simple and easy. Just complete the online application in few minutes and a dedicated business expert in lending will contact you to help you.
To apply for up $100,000 you’ll require proof of identity (valid Driver’s Licence) along with an NZBN/IRD that is valid and at least six months worth of bank statements.
For larger loan sizes, you’ll need:
$100K-$250K: Application requirements, including credit consent, 6 – 12 months of IRD statements, bank statements (if credit is over $150K).
$250K-$500K: Details for application including credit consent, 12 months of bank statements, IRD statements, last 2 years finalised financial statements, in addition to interim current financial year financials including Aged Payables, Aged Receivables summary.
For an unsecured loan ($5K to $100K) we typically provide a response in one hour, provided you apply in standard company timings and you allow us to use the advanced bank verification system link to instantly verify your bank’s information online. If you decide to submit copies of your bank statement, we’ll offer an answer within an company day.
For the Larger Business Loan ($100K to $500K) we may be in a position to offer you with conditional pre-approval in about 6 hours. After you’ve signed the pre-approval document, you will need to wait around 2-3 days for final approval, however this may be quicker depending on the circumstances of each application. Some transactions have received approval in the space of 24 hours.
The fastest way is to ensure you apply during standard business hours, and allow us to use our advanced bank verification system to check your bank’s information online. If you upload copies of your bank statement, it takes a bit longer.
For the Small Business Loan ($5K and up) we can often provide an answer within one hour – provided you submit your request in normal business hours and you allow us to utilise the advanced bank verification system to instantly verify your bank details online. If you decide to send us copies of your bank statement, we’ll offer the decision in just 1 business day.
For the Larger Business Loans ($100K up to $500,000) We may be able to provide you with pre-approval conditional to your application within about 6 hours. After you’ve signed the pre-approval document, you will need to wait approximately 2-3 days to receive final approval. However, this may be quicker depending on the particular circumstances of each application. Some deals have been approved in 24 hours.
The most efficient method is to ensure you apply during normal business hours. Also, permit us to use the sophisticated bank verification link to verify your bank information online. If you choose to send us duplicates of your banking statements it may take a bit longer.
We provide loan amounts between $5,000 and $500,000. If you apply for a particular amount, we take into consideration a range of variables for determining what is the health of your business and the extent of the repayments your business is able to afford. The total amount of the loan will be determined by the particular circumstances of your company.
When you make an application for a particular amount, we will consider a number of elements to assess your well-being that is your company and the amount of repayments that your business is able to afford. The total amount of the loan will be determined by the specifics that are unique to your company.
If you decide to make an application for the business loans, we’ll assess the risk profile for your business and provide an individualised offer, including the amount of loan, the term and interest rates. The business loan is an upfront cost loan which means you know the exact amount to be paid, including any interest rates, fees or charges.
The interest rates on business loans rates depend on several factors including the amount borrowed, the business assets the money will be used for in addition to the industry that the company operates in, the long the company has been operating and whether the business has enough cash flow to pay for the loan, as well as the overall well-being and creditworthiness of the company.
There are no hidden costs for our business loans. You’ll be aware of the amount you be required to pay and when, starting from day one. There’s no compounding interest, and there are no additional charges (as as long as you pay your payments on time).
We don’t charge an application fee. You can make an application for loans no cost upfront or any obligation to sign up.
The Origination Fee covers the expenses involved with establishing and managing the loan. It is only charged for this cost if you take out the loan. Our Origination Fee is 2.5% of the loan amount.
You can repay the total amount of your loan early at any time.
If you do decide to do this please call our helpful company lending specialists. We will provide you with details on repayment along with an early payout estimate. This will be calculated as the total of the principal amount remaining and any accrued interest at the date of early payout plus 1.5 percent of the principal amount remaining and any fees that remain unpaid.
In order to help you avoid missing repayments and to fit in your cash flow schedule, we provide repayments either weekly or daily. These are automatically withdrawn from the nominated company account.
Protecting your information, and knowing how we collect, use, exchange and secure your information, is of paramount importance and an integral part of our relationship you.
Yes. We utilise industry-recognised encryption protocols to safeguard your sensitive, personal financial and other data. Our funders are ISO 27001 qualified for our commitment to protecting the security of customers and privacy. We use an advanced bank verification system link to immediately verify your bank account details online, allowing us to provide quick responses.
Asset-based borrowing is when a company owner makes use of an asset that they own to make the funds for a loan. The asset can be an individual asset, such as the family home or a company asset such as a vehicle or piece of equipment.
The majority of lenders, including the big banks, tend to guarantee loans against an asset. If you’re struggling to pay back the loan then your assets could be sold by the lender. In essence it is means of securing new financing using the value of what you already own.
For loans up to $150,000 it is not necessary to secure assets prior to the loan’s access but we do need a personal guarantee. So long as you comply with the terms of your loan (as stipulated in the loan contract) the security of assets is not required. For loans that exceed $150,000, generally, you can get an individual ensure and security in the form of the charge of assets.
