Commercial Archives – FinanceCorp
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05 Nov 7 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 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.   Work out what is realistic Find and compare credit options based on the amount of money you need to borrow, how you want it supplied and the...

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05 Nov Small business finance without the bank

While SMEs account for 97 per cent of Australian businesses, it can still be difficult to make a case to a bank when looking for finance to start a new business or invest in the growth of an existing one. The good news is that applying for commercial finance through a bank is far from the only option.   Personal loans A relatively young enterprise that doesn’t have a track record of success may not be looked upon favourably by banks, which make lending decisions based on risk. A lack of documented history...

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05 Nov Seven Tips For Securing A Business Loan

Published by MFAA 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.    Work out what is realistic It’s a good idea to find and compare credit options based...

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05 Nov Investing in commercial premises through an SMSF

Some of the most important decisions a business owner will make are about their premises: whether to rent or buy, where to base the business and even the style of the property are important to get right. For those with an SMSF, there is one more option to consider: landing business premises and an investment property at the same time. Figuring out whether  buying your commercial premises through your self-managed super fund (SMSF) is an option that’s suitable for you is imperative to the success of your investment. There can be many...

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05 Nov How to select a business loan

There are different types of business loans to suit different stages of a business lifecycle and different business needs, and selecting the right one can speed up the application process and minimise costs.   Finance for a start-up For a start-up company with no trading business or cash flow, it can be quite difficult to secure a business loan. An alternative is to take out an investment loan against the equity of your home or property. “A lot of the banks don’t have much of an appetite for start-ups, so an investment loan would...

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05 Nov Why your business loan was rejected…

Due to the risks involved, strict guidelines are imposed on business finance, so securing approval can be difficult. Here are a few mistakes to avoid to increase your chances of approval. Not knowing your credit score Many consumers may not realise the importance of a credit score. Not only is it taken as a reflection of your ability to make repayments, it also highlights your financial history which is why understanding what it is and how it can be improved can be vital. “I have seen cases where businesses were oblivious that they...

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02 Nov Car finance for businesses

 The preservation of working capital and taxation benefits are two big draw cards for businesses looking to finance staff vehicles. Companies the world over are often faced with the costly requirement for staff cars. However, with the number of financing options on the rise, many business owners are turning to funding these purchases rather than paying cash. Financing, rather than buying outright, enables businesses to take advantage of two key benefits: greater control of cash flow and working capital, as well as various tax benefits. “The preservation of working capital is a key...

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09 May What Are Self-Managed Super Funds?

Self-managed super funds (SMSFs) are a great way of to save money for retirement. They differ from other super funds in the fact that members are also the trustees of the fund. Advantages of self-managed super funds The main advantage lies in the level of control trustees wield over the fund to meet their specific needs. In this regard it differs from retail and industry super funds, which are designed to benefit a large number of members, and whose decisions have to be based on the group’s collective interests rather than what...

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09 May What is Debtor Finance?

Most businesses feel they have no choice but to follow the industry practice of issuing invoices to customers on credit terms of at least 30 days. They are forced to follow this because it is the only way to acquire and retain clients. Unfortunately, a lot of these invoices can take up to 60 days to get paid, and this kind of delay constricts vital cash flow of the business and hampers growth. One solution around this is debtor finance. It is a way to fund slow-paying invoices and is aimed...

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09 May What is Asset Finance?

Asset finance is a type of finance used by businesses to get assets and equipment they need to grow. Typically it involves a regular payment for use of the asset over an agreed period of time, therefore avoiding the need to pay the full cost of the asset upfront. The most common types of asset finance are hire purchase and leasing. Hire Purchase Hire Purchase allows the customer to buy the equipment on credit. In this case, the finance company purchases the asset on behalf of the customer, and owns the asset until...

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