All things finance
How a broker helps you save time and money
Access to timely and adequate finance can be crucial to your business’ growth and success. Financial flexibility allows you to take advantage of investment opportunities, build stock levels and also weather any short-term setbacks or cash shortfalls.
With a broker
The key advantages of using a broker are:
- Funding market experts
- Best interest rates
- No hidden fees or charges
- Safeguard your credit score
Without a broker
The key disadvantages of not using a broker are:
- Time consuming process
- Complex market
- No leverage
- Could impact credit score
Business finance
Commericial lending
Unsecured business loan
- Loan size: $5k - $500k
- Loan term: 3 to 18 months
- Interest rate: 5% to 20%
- Approval speed: Fast
Secured Business loan
- Loan size: $50k - $5m
- Loan term: 1 to 10 years
- Interest rate: 3% to 12%
- Approval speed: Slow
Business line of credit
- Loan size: $10k - $2m
- Loan term: 6 months to 3 years
- Interest rate: 6% to 15%
- Approval speed: Fast
Personal loan for business
- Loan size: $5k - $50k
- Loan term: 1 to 5 years
- Interest rate: 8% to 20%
- Approval speed: Medium
Debtor finance
- Loan size: $5k - $200k
- Loan term: 30 to 90 days
- Interest rate: up to 30% annualised
- Approval speed: Fast
Trade finance
- Loan size: $20k - $2m
- Loan term: 30 to 180 days
- Interest rate: 5% to 25%
- Approval speed: Medium
Finance lease
- Loan size: $10k - $2m
- Loan term: 1 to 5 years
- Interest rate: 5% to 10%
- Approval speed: Fast/Medium
Hire purchase
- Loan size: $5k - $2m
- Loan term: 1 to 5 years
- Interest rate: 5% to 15%
- Approval speed: Fast/Medium
Chattel mortgage
- Loan size: $5k - $2m
- Loan term: 1 to 5 years
- Interest rate: 5% to 15%
- Approval speed: Fast/Medium
Property finance
- Loan size: $50k - $50m
- Loan term: 1 to 25 years
- Interest rate: 4% to 12%
- Approval speed: Slow
low doc car loans
- Loan size: $5k - $100k
- Loan term: 2 to 8 years
- Interest rate: 5% to 10%
- Approval speed: Medium
Things to consider with business finance
Loan application checklist
What are you looking for?
Your broker needs to understand what you need finance for, how much money you need and how long you need this money for.
Whether you are looking for property financing for a large scale commercial property product, looking at options for leasing building equipment or simply want to explore alternatives such as debtor finance or a letter of credit to cover a short term cash flow shortfall, our brokers can help.
How safe a credit are you?
Questions including how long you have been in business, what your current financials and what relationship and credit terms your customers have will help a broker or lender ascertain your ability to repay the loan. You will also be asked about any assets such as property or inventory that you could pledge as collateral against a loan. Lenders will also often request both a personal and corporate credit check to understand your past credit history.
how much can you pay?
An online calculator such as our calculators will allow you to determine what the monthly cost of a loan at different sizes, interest rate and maturities will cost you. Any lender will want to ensure that your monthly pre-interest cash flows equal or exceed your interest expenses.
We recommend that you ensure that all your financial statements including income statements, cash flows, balance sheets and personal and corporate tax returns are prepared and up to date before applying for a loan.
