Business Loans
Businesses often need funding to reach the next level — whether that means launching a new product line, bringing on new staff, buying more inventory, or something else entirely.
Securing a business loan can make the difference between surviving and thriving for your business. But it’s important that you make the right choice for your company’s unique needs, goals, and preferences.
How would banks assess your business for loan?
Unlike home loans, business loans are not regulated by the National Consumer Credit Protection (NCCP) Act, this means that lending requirements are less onerous.
Factors that are considered for a business loan include:
- The size of your deposit, the history of your business
- Whether a property is being used a security for the loan
- The cash flow and profitability of your business
- The industry in which you operate
Why pre-approval helps
Business loans can have an urgency to them due to an operating or strategic need. It’s important to prepare yourself to ensure you maximise your chances for approval.
Lenders want specific information about your business and financial profile. Depending on your loan requirements you may need a business plan, cash flow forecast and profit and loss statements.
Figuring out which lender you want to work with is no easy decision. There are hundreds of loan providers around, all offering something slightly different. Should you go for a smaller lender or an established bank? Is your priority an overdraft, a low rate, or not having to put down collateral?
We understand different banks assessment criteria and can offer you guidance on which banks to which your particular funding requirements and situation would be best matched
When you work with us, you’ll get:
- A seamless and fast approval
- Knowledge and advice tailored to your business
- A long-term relationship with our advisors
- Support and personalized guidance
- Cost effective solutions
WANT TO FIND OUT MORE
Contact Find Your Property Finance today for more information about how we can help you and your company.