Many small business operators choose to lease rather than purchase their company cars because it’s better for their cash flow. Some of the common vehicle finance options include: finance car lease operating car lease novated lease chattel mortgage finance hire purchase If you take out a car lease, the lender …
While small to medium enterprises (SMEs) account for 97% of Australian businesses, it can still be difficult to make a case to a bank when looking for finance to start a new business or invest in the growth of an existing one. The good news is that applying for commercial …
Securing a business loan isn’t necessarily difficult but knowing how to navigate your way can be the difference between success and failure. Banks and other financial institutions offer a wide range of business finance options, from commercial property loans, commercial vehicle leases, and commercial and equipment leases, to simpler options …
Applying for a business loan is a completely different process to that of a home loan application. To ensure you don’t lose your way, we’ve set out a clear path for you to follow. 1. Find a specialised broker Commercial lending is very different to residential, so when searching for …
Due to the risks involved, strict guidelines are imposed on business finance, so securing approval can be difficult. Here are a few mistakes to avoid to increase your chances of approval. Not knowing your credit score Many consumers may not realise the importance of a credit score. Not only is …
Businesses need capital if they are to grow, and sometimes need finance solutions to raise capital. If you are unable to raise capital through a loan, equity may be an alternative solution. With equity you’re giving away a percentage of future profits, rather than a fixed percentage on what you’re …
If you’re an importer and your overseas supplier wants a huge deposit before they’ll supply the goods, what do you do? Consider a letter of credit. Suppliers want money up front If you haven’t worked with a supplier before, they’ll generally want a significant deposit before they’ll start work or …
Some businesses choose to buy rather than rent their business premises. To do this, they take out a commercial property loan. As with all loans there are many options and things to consider, here are a few: Repayments and their effect on cash flow Many small businesses prefer to rent …
If you’re running a small business, one of the biggest problems you face is cash flow. Here we look at some of the ways in which you can improve the cash flow of your business, including: overdrafts credit cards cash flow financing (factoring, debtor …
From time to time, a business needs a cash injection. With so many lenders offering a dizzying array of products, it can be difficult to know what to choose. There are plenty of different types of business finance, but before diving in and applying, it’s important to understand your requirements first, …
A lot of small businesses fail not because they’re offering a poor product but because they run out of cash. You’ll need access to funds, not just to pay for set-up costs but to cover your living expenses while you get established. Make sure you’ve done a detailed business plan …
What types of finance can I get for a small business? Read More »
Preparing a detailed business plan will inform the lender about your business proposal so that it can assess your application as favourably as possible. 1. Know your numbers To inspire confidence in you as a borrower, it’s important you are familiar with your key financial figures, even if you don’t …