Need a small business loan for some new equipment?
Running your own business might be one of the biggest accomplishments of your career. The freedom to be your own boss, build a team and provide a product or service you truly care about is an incredible triumph.
However, behind every successful story, there are often hidden truths, and one of them might relate to capital. Not everybody has the backup capital to cover business overheads in those first few years before you start to break even and begin profiting. This is the crucial period, where it’s ‘make or break.’ We are here to help ensure it is ‘make.’ We care about your success, and that is where we can help you with innovative small business financing and small business start-up loans to help you get started and stay afloat through the tough periods.
There are a number of reasons why you may be in need of small business loans. When it comes to securing small business financing, we help you focus on the important things and support you in growing your business.
Is a small business loan right for me?
Across the board, most business owners find that small business financing is particularly effective in starting ventures, managing day-to-day expenses associated with the running of the business, growing their business and providing a safety net or driving extra cash flow during those tough months.
We invest our time into getting to know your business so we can best advise you and find you the most beneficial small business loans. It can be challenging for businesses that have been in operation for less than one year to secure financing, and this is usually their hardest year, financially speaking. With our contacts in the industry, we can work around this by securing funds from private investors, exploring other types of loans, or working with micro lenders. We will work closely with you to find the best possible solution, and it may not be the most obvious.
For businesses that have been in operation for more than a year, and can provide the required documentation to prove they have ongoing monthly cash flow, there are a number of small business loans available. With your business’s interests and your own unique needs in mind, we source for the best rates and deals for you.
How much can I borrow?
Figuring out exactly how much you need to borrow vs. how much you can borrow, can be complicated and overwhelming – luckily we are here to help. Depending on the needs of your business and your current circumstance we will work closely with you to determine your needs and borrowing capacity. You might need small business loans to buy vital equipment while others will be looking to cover ongoing costs and keep the business going during a quiet month. We can tailor loans to cover all scenarios.
When choosing a loan amount and type, it is vital that you are comfortable with the repayment schedule – be it weekly, fortnightly or monthly. We keep you on track and ensure that you do not take out a loan that will see you struggling to make repayments.
Our friendly and knowledgeable consultants work closely with you to find small business loans that suit your needs and give you the peace of mind required to keep your business running smoothly.
Do I qualify for a small business loan?
First things first, we need to determine if you qualify. We will assess your current situation and your eligibility accurately. With your best interest in mind, we will never put you in a financial situation that you cannot handle.
Firstly, we consider your credit history. Your position on the credit spectrum will determine which loans you qualify for. For instance, if you are thinking of borrowing from a bank, they tend to require high credit scores compared to other lenders. However, we look at this from the other angle too; some of those other ‘lenders’ may impact your credit score more than others so we will advise you on your best options here. We will provide you the 101 on small business loans, so you are fully armed to make the best possible decisions.
The second thing we take a look at is revenue and how long your business has been in operation. If your business is just starting out and does not have a long track record or adequate revenue, this will likely decrease the number of small business loan options available to you. However, we will work hard to negotiate and tailor the best possible loan terms for you.
What documents will I need to provide?
Once we have compared all your options and helped you to decide on the loan, the chosen lender will need to see proof of the claims made. It can be an intimidating and messy task but we simplify the process and will be there every step of the way to help you to consolidate all the necessary paperwork. We guarantee lots of time saved and a peace of mind.