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OnDeck Business Loans – Adelaide

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Backing South Australia’s small businesses

With a population of over 1.3 million people and a median age of 38.8, Greater Adelaide is comprised of a large working society.[i]

Adelaide thrives off small businesses (and good wine). Out of the 115,000 registered businesses reported by ABS in 2019, less than three percent are medium or large businesses. Nearly 98% of businesses in Greater Adelaide are considered small businesses as they employ less than 20 employees.  Almost 7 in 10 of all businesses registered in the area are entrepreneurs, or sole traders that do not employ other workers.

The largest industries in South Australia include construction; rental, hiring and real estate services; and financial and insurance services. The state as a whole has similar industries; however, agriculture, forestry and fishing are third overall with financial and insurance coming in fourth.

 

Adelaide Small Business Stats:

Business
Density

Total number of businesses in Adelaide is now over 115,000, and continues to rise yearly (as of 30 June 2019).

Business
Entries

For the year ending 30 June 2019, there were over 16,000 new business entries, with an increasing number yearly.

Top
Industries

The biggest business industries in Adelaide are Construction, Rental & Real Estate services, Financial & Insurance services and Professional, Scientific & Technical services (as of 30 June 2019).

Improve your business finance with an OnDeck loan

Funds you need, when you need them

OnDeck lightning loans can be funded in as fast as 2 hours, while a more complex small business loan can be approved and funded in only 1 business day. The entire loan application process can be completed in as fast as 10 minutes. Apply today to get your loan quickly.

No collateral with an unsecured business loan

Adelaide business loans can either be secured or unsecured. A secured business loan is a loan that is guaranteed by an asset. On the other hand, unsecured business loans allow you to borrow money for your business without the need for collateral. OnDeck loans are always unsecured, so there is no loan security required.

Improve business cash flow

For a small business, managing a healthy cash flow (the movement of money in and out of the business) is critical for success. Poor cash flow can lead to interruptions in your activity and mean any small problem, like an unexpected bill or event, can loom larger than it needs to be.

 

Find out how much funding you could get for your business

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How well do you know your small business financial metrics?

Understanding your business’ financial metrics, is critical to running a successful business. These metrics are crucial to knowing whether or not your business is profitable and will also prevent you from waking up one day to find out you’re on the slow march to insolvency and going out of business. There are a handful of metrics every business owner should be familiar with. Learn more about your business’ income, expenses, cash flow, accounts receivable, and accounts payable and what they all mean for your small business. 

Read more on our blog here.

 

 

When did you last take a break from your small business?

Research shows that found that only one in two (50%) small business owners have taken a holiday in the last six months. Over one in four (26%) have not had a break for at least four years. A small minority (6%) say they have never taken any time off from their business. It is vitally essential for SME owners to take a break from their business. It doesn’t need to be a massive break – just taking a long weekend once in a while can help owners recharge.

Read more on our blog here.

Has your small business ever experienced a cash flow crisis?

Almost every small to medium business owner knows cash flow can be challenging to say the least. Some of the most profitable small businesses still fail because a cash flow crisis has come out of the blue and they weren’t prepared for the fall out. Profit alone doesn’t safeguard a business for when clients don’t pay their invoices on time or unexpected expenses arise.

Read more on our blog here.

How loyal are your customers to your small business?

If you’re on the fence about whether a customer loyalty plan for your business is worth the hassle, there are a few solid reasons you should be implementing a plan ASAP. Regular repeat customers can help create a baseline of reliable income, spread word of mouth, and can save your small business money in the long term.

Read more on our blog here.


Adelaide Small Business Loans with OnDeck

OnDeck has been a trusted lender for many small businesses in Adelaide, helping them reach their business goals faster by providing fast and hassle-free lending.

If you are an Adelaide based small business owner wanting to apply for an OnDeck small business loan, simply start an application online. It takes only 10 minutes and you’ll know whether or not you’ve been approved within hours.

If approved, you could receive funding in as fast as 1 business day.

 

 

Find out how much funding you could get for your business

Enquire Now

Business loans frequently asked questions

What is a small business loan?

Small business loans come in different shapes and sizes and serve different purposes. Whether you are a business owner looking to expand your business or need cash flow solutions, there is a business loan suitable for you. Small business loans can either be secured or unsecured, and can be used for many business purposes. OnDeck only offers unsecured business loans.

How hard is it to get a business loan in Australia?

Applying for a business loan with OnDeck is a simple and easy process, it can be done in 10 minutes. To be eligible, you have to be an Australian business with a business credit score of at least 400 (that you can check with our free Know Your Score tool), the business to have been operating for at least 12 months, and to have a minimum annual gross turnover of at least $100,000. Apply today to get an unsecured loan funded in just hours.

What is the largest small business loan you can get?

The largest unsecured loan offered by OnDeck is a short-term business loan of up to $250,000. These have loan terms of 6 to 24 months and can be used for any kind of business purpose. There is no unnecessary paperwork, so it only takes minutes to apply, and funding can be sent within 1 business day.

What is the minimum deposit for a business loan?

While traditional financial institutions often require a large deposit for commercial loans, you do not need a deposit for a small business loan with OnDeck. The eligibility criteria is simple, your business has to have been operating for at least 12 months with no bankruptcy on your credit file, have a minimum of $100,000 a year in annual turnover and a minimum business credit score of 400.

Do you need an ABN to get a business loan?

Yes, unlike personal loans, a business loan is not paid to an individual but into a business account. You have to provide an ABN and other financial documents to business lenders so they can decide whether you meet the eligibility requirements for unsecured business finance.

 

Sources:

[i] https://itt.abs.gov.au/itt/r.jsp?RegionSummary&region=2GMEL&dataset=ABS_REGIONAL_ASGS2016&geoconcept=ASGS_2016&measure=MEASURE&datasetASGS=ABS_REGIONAL_ASGS2016&dataset
LGA=ABS_REGIONAL_LGA2018&regionLGA=LGA_2018&regionASGS=ASGS_2016

Greater Adelaide: Region Data Summary (abs.gov.au)

South Australia: Region Data Summary (abs.gov.au)