Business loans are generally for businesses who require funds for special requirements (e.g. start up, car or equipment or to finance expansion).
Business loans are similar to commercial loans being that they are not regulated the same way as residential lending which means there’s more flexibility in the lending and the assessment process is on a case by case situation.
Business loan applications are processed in a similar way to commercial loans, being that the lender will assess the risk to determine if they want to approve the finance. There are many factors the lenders will consider in their risk profiling and this relates to the applicants, their expertise in the area, the amount of lending vs. the purpose of the loan, the business plan, total revenue, forecasting and a number of other factors (i.e. start up, existing, trading history, etc.).
In particular, the industry for which the business loan will be used determines the risk. If you are entering into an industry as a start up business where statistics show there is a high level of unsuccessful businesses or competition is high, the loan may not be approved no matter the funds or experience of the application.
Business loans range from $50,000 for a start up through to high end $50,000,000 loans or more.
We work with the major lenders who generally provide larger finance options and Fintech companies who are specialising in the smaller loan space.
Some examples of business finance loan requirements include (but not limited to):
- To increase stock for seasonal periods
- Business aquisitions
- Start up or expansion
- Renovate the business premises
- Payout a business partner
- Pay tax debt
- Buy the business premises
- Obtain supplier discounts by payng upfront earlier
- To run a marketing campaign
- Commercial development loans
- Commercial property investment
- Unsecured loans (no property needed)
- Working capital / cashflow
- Inventory finance
- Invoice finance
- Term loan
- Line of credit (LOC)
- Equipment & asset finance
To submit an enquiry and discuss your finance needs with our team, please complete our contact us form and a representative will be in contact with you shortly