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Working capital, equipment, vehicles or premises. The right facility depends on what the money is for and how quickly it comes back.
The most common mistake in business lending is matching the wrong product to the need: funding a long-term asset with short-term money, or tying up property security to cover a short cash-flow gap. Getting the structure right matters more than shaving the rate.
Short-term facilities for the gap between paying suppliers and getting paid.
Fast funding is usually expensive funding. It suits a genuine short gap; it's the wrong tool for an ongoing shortfall.
From a single work vehicle to a fleet, plus machinery and equipment. See vehicle finance.
Buying your own premises or investing in commercial property – offices, warehouses, retail and industrial.
Commercial lending is assessed differently from residential. Expect lower maximum loan-to-value ratios, shorter terms, and closer attention to the lease and the business's financials.
Reviewing existing facilities, consolidating business debts, and restructuring where the current setup no longer suits. This can include ATO debt where appropriate and available.
Business lending lives on financial statements. Company accounts, trusts and multiple entities are where I can read what a lender will make of your numbers before anything is submitted. More on self-employed borrowing.
Not always. Unsecured business loans exist, but they usually come with lower limits and higher costs. Equipment and vehicles can often be used as security for their own finance.
It's harder, but not impossible. Many lenders look for a trading history, commonly one to two years, though some will consider newer businesses depending on the owners' experience and what the funds are for.
Short-term and unsecured funding can be quick. Larger loans and commercial property take longer, because the lender reviews financials, valuations and, for property, the lease.
