Business Loans

Growing a business in Australia requires access to finance. Business loans can help you achieve your goals, whether it's expanding operations, purchasing equipment, or managing cash flow. 

Types of Business Loans

- Term Loans: Fixed-term loans for specific purposes, such as equipment or expansion

- Line of Credit: Ongoing access to funds for working capital or unexpected expenses

- Overdraft Facilities: Short-term funding linked to your business transaction account

- Invoice Finance: Unlock cash tied up in outstanding invoices

- Asset Finance: Secured finance to purchase assets including vehicles, machinery and more. 

Key Considerations

- Interest Rate: Competitive interest rates apply, often variable or fixed

- Loan Amount: Borrow from $50,000 to $500,000 or more

- Loan Term: Typically 1-5 years, with regular repayments

- Security: Assets such as property, equipment, or cash flow may be required

- Fees and Charges: Understand all associated costs

Tips for Securing a Business Loan

- Prepare a Solid Business Plan: Demonstrate your business's viability and growth potential

- Improve Your Credit Score: Ensure your personal and business credit history is strong

- Ensure when dealing with your accountant, you make them aware of your intention to borrow so your financial statements are reported accordingly. 

- Keep your business & personal finances separate (i.e. separate bank accounts and credit cards) to ensure a clean and clear application is presented to the lender.