To be eligible for a business loan, you need to provide evidence that you can easily repay your loan by providing documents, detailing your business’s financial history, liabilities and assets such as other borrowed loans. You can provide security for the loan either as a commercial asset or a residential asset.
Why You Need a Business Loan?
Unlike short-term financing, business loans serve a different purpose. You require a business loan to finance a new business venture, expand your existing business, renovate existing facilities, or obtain plant and equipment for your business.
To make an informed decision on the type of business loan you require, you need to consider several different factors. If you require a loan to cover short-term expenses, apply for a business overdraft loan. If you require a loan to make a larger purchase, apply for a business equity loan, which is ideal for businesses that require cash on an infrequent basis.
If you know the exact amount you need to borrow, apply for business fixed rate loan with a fixed monthly payment plan. If you do not know the exact amount you need to borrow, apply for a business variable loan.
You will still be eligible for a loan if you run a small business. Apply for a small business loan if you need to cover one-off expenses such as paying for training, buying new equipment, renovating your facilities, improving cash flow, and giving yourself flexible access to funds when required.
The Different Types of Business Loans Our Brokers Can Help You Obtain
Our finance brokers can help you acquire the following types of business loans:
Working Capital Loans
Failure to select the right loan can result in missed payments and cash deposits into your business accounts, leading to business instability and stunted growth. Our mortgage brokers ensure your business has sufficient revenue for expansion. They handle overdrafts, trade finance (domestic and international), and invoice finance.
We bring you a network of reputable lenders to ensure you avoid fees and receive a favourable rate. Our mortgage lenders have the capability to approve finance for cars, trucks, and yellow goods within 24 to 48 hours. Additionally, we can help you buy larger plant and equipment to ensure your factory continues to meet the demands of a positive cash flow.
Business and Commercial Loans
We can help secure business and commercial loans, which are longer-term loans that you can utilise to invest in commercial property, develop and purchase businesses, or grow your own existing business. Our mortgage brokers can structure the loan correctly to suit your requirements.
We can streamline the process of buying new commercial and residential property or transfer the existing property to your super fund. Our mortgage brokers can offer you sound advice on the best strategy to follow for the super fund loan, basing it on the different rules and regulations imposed by lenders.
Our finance brokers can assist you in investing in a franchise by helping you obtain adequate finance and identify a suitable lender willing to offer you this financing against the cost of the franchise.
If you are interested in obtaining a business loan that helps you realise your business goals without becoming a burden on your pocket, contact us today to set up an appointment with one of our finance brokers.
Make a Finance Enquiry
Unsure of what loan is right for you? Wanting to find out how much you can borrow?
Our Finance Team is available to discuss your home loan options today.
Want to know more or to apply? Contact us today!