business LOANS from SB EXPERTS
Looking for a business loan? Here are some tips:
Before you apply for a business loan, it is important to now your limits for finance and your ability to repay any money you borrow. Spend some time to work out:
- If you need the money up-front or on a needs-basis
- Maximum repayment you can afford
- Your loan to value ratio (LVR)
- Assets you have to offer if you need collateral
- Potential guarantors for your loan
- Your current equity
- What maximum percentage share of your business you are willing to offer to investors
BUSINESS LOANS
Does your business need a boost? A business loan may be just right for you.
So, you are planning to get a business loan? That’s great. But the process of successfully applying for a business loan needs to be handled very carefully, especially if you are an owner of a new business. Given the dynamic nature of the world of business, lenders need a good guarantee that your business has a high likelihood of success before they agree to the loan.
In this situation, having a balanced business plan turns out to be one of the essential requirements to get started. A professionally structured plan, accompanied by a well-prepared application can go a long way in making a strong case for the business owner.
At SB Experts, we can help you understand the finance options available and do all the legwork in sourcing the most appropriate business loan for your business.
Business Loan Options
Finding the right business loan is one of the crucial parts of borrowing money from the lender. Each type of loan comes with different terms and requirements. In Australia, there are three most common types of business loans you can apply for.
Business overdraft: You can use this business loan for short-term needs. An overdraft is often unsecured; however, it is likely to have a lower interest rate.
Business equity line: If your business needs to make large purchases, this type of loan might be perfect. Obtaining this business loan may require security.
Traditional bank loans: Since it is a traditional bank loan, the requirements in this are similar to other loans e.g. business plans, financial documents, etc.
Start your business loan journey with SB Experts
Getting a business loan in Australia for the first time can be daunting. You need to have enough knowledge and a good business plan to boost your chances of getting approved by the lender. If you are not yet sure where to start, we at SB Experts are always ready to assist.
commercial LOANS
There are a variety of reasons for a business to need a commercial loan. This could be to hire more staff, buy new equipment, purchase a commercial property or purchase another existing business. To suit most requirements, there are a variety of commercial loans available, including short and long-term loans, unsecured or secured against real estate property, equipment or other assets
Main types of Commercial Loans
Business Term Loans: A business loan is set at a specific term, with regular repayments that can include principal and interest an also interest only for a limited time. Business Term Loans are normally applied to invest or expand the business.
Commercial Property Loans: These loans are used to purchase commercial real estate for investment. They are normally long term and offer fixed or variable interest rates.
Commercial Overdraft: As the name suggests, with an approved ongoing credit limit, some business apply for an overdraft to help manage fluctuating cash flows and assists in a variety of common business situations.
Getting a commercial loan with SB Experts
A business can need or use a commercial loan for a variety of reasons and it can be hard to ascertain your eligibility. Let us at SB Experts handle your commercial loan application for you, while you run your business.
equipment LOANS
Equipment finance is a popular form of finance for businesses because it helps them purchase assets without using their working capital.
Equipment is a critical part of the day-to-day operations of any business. From furniture to machines, every business needs equipment to run its operations smoothly. Whether you are starting a business or need to replace your equipment, you need the right equipment loan to help with your expenses.
As the name suggests, equipment loans are a financing solution for businesses but do not have enough financial resources. Companies can obtain the equipment they need through loans from equipment finance lenders. Businesses use equipment finance to acquire a range of expensive equipment, such as vehicles, forklifts, IT hardware, telephony systems, industrial machinery and other forms of plant and assets.
At SB Experts, we can help you understand the equipment finance options available and present a selection of the most appropriate business loan for your business.
Types of Equipment Finance
Hire Purchase: As the name suggests, the borrower eventually owns the equipment once the loan has been paid. It suits a business that wants to own the assets outright.
Equipment Finance Lease: An equipment finance lease is similar to a hire purchase arrangement. But at the end of the lease contract, the borrower may choose to either continues leasing the existing item or opts to lease a new item.
Equipment Loan: Also known as a chattel mortgage, it is a fixed interest loan secured by a mortgage over the asset.
Let SB Experts help you apply for Equipment Loan
Choosing the right equipment finance can be tricky. You need to have a clear plan and understanding of your business in order to make the right choice. At SB Experts, we are always ready to discuss your options
PRIVATE LOANS
A majority of Australians are able to obtain their home loan through a traditional bank or lender. But there are many cases where borrowers fall short of qualifying for a loan from a bank or mainstream lender. If your circumstances don’t fit the picture of a typical borrower, a private lender may be able to provide the finance you need to buy a property.
How does private financing work?
As the name suggests, private lender home loans are not issued by regular banks or traditional lenders. Instead, the loan may come from a specialist finance company, an investment firm, a group of investors or even individuals. The common thread across many private home loan lenders is that they specialise in providing short-term financing.
Apply for private finance loan with SB Experts
While getting private finance may seem a convenient loan option, it also comes with different risks. It would be best to confirm the legitimacy of the lender as well understand their terms and conditions clearly. If private lending is your available option, talk to us at SB Experts.