#business / 25 posts found
Where can I get finance for a small business?
Note: When seeking credit assistance, use a mortgage broker to protect your best interests. Many people in Australia dream of running their own small business but four out of five never do it. If you’ve got a good idea, develop a business plan, then let’s discuss your small business finance options. Your small business finance or commercial finance options include: Business loans Commercial loans Lines of credit Home equity loans Franchise funding Venture capital How much money does your business need? A lot of small businesses fail not because they’re offering a poor product but because they run out of […]
What Do I Need to Know About Debt Consolidation?
(Note: Not to confuse it with debt elimination.) If you’re swamped with credit card debt and personal loans, it can sometimes help to talk to a professional about debt consolidation. However, you need to be wary. You might end up paying more in the long term and/or reduce the equity in your home. What is debt consolidation? Debt consolidation is where you transfer your credit card debt and any personal loans to your mortgage. The advantage of doing this is that the interest rate on your home loan is likely to be lower than you’re paying on your smaller debts. […]
The Home Loan Approval Process
Following the lodgement of a home loan application, hopeful borrowers are often keen to know what will happen next and how long it will take for them to receive the verdict. The bad news is that there is no one-size-fits-all answer. The good news, however, is that a solid application is a key to keeping the approval time short. The amount of time it takes for you to receive a response to your home loan application can vary. An answer is usually received between two days to two weeks, depending on a range of factors. Before offering conditional approval, your […]
Seven Tips for Securing a Business Loan
Securing a business loan in Australia 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 such as letters of credit, overdrafts, and lines of credit. Here are some tips on how to improve your chances of success. 1. Work out what is realistic It’s a good idea to find and compare credit options based on the amount of money you need to borrow, […]
Improve the Cash Flow of my Business
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 • Factoring, debtor finance, or invoice finance • Trade finance or stock finance • Car leasing • Equipment leasing Overdrafts – traditional but declining The traditional way for a business to improve its cash flow was to run an overdraft. However, you’re charged a fee to get an overdraft and ongoing fees to maintain the facility. Also, interest rates […]