Whether it's simple tooling or large machinery, for many businesses equipment is the main asset driving the productivity and income generation for your business. A lot of heavy machinery can be quite expensive, and taking the time to save to purchase the equipment with cash can be time consuming which will hinder your businesses growth.
Need inventory or stock?
Have sales been well lately? Do you have a large accounts receivable but not much cash? Don't let a lack of stock slow down the growth of your business. When sales are going great you need to keep riding that wave. If you wait for your accounts receivable to be rectified to purchase new stock, you could risk losing clients to your competitors. Talk to a broker about how your accounts receivable can be turned into new stock for your business today.
Don't want to miss out on an opportunity?
Sometimes an opportunity comes along that’s too good to pass up. You may have an opportunity to buy out a competitor, or take on a large work contract that you don’t currently have the facilities, or the staff to fulfil. Missing out on opportunities can have drastic long term affects and severely hinder the growth of your business. When an opportunity comes along, you can’t pass it up, and often some form of business loan is required to make things happen.
Cash flow an issue?
Sometimes business can be going great, but you could have a large portion of your working capital tied up in accounts receivable. 90 day accounts can be great for building a client base, as it offers your customers convenience, however it can cause issues with cash flow sometimes. Don't let periodic cash flow issues hinder the growth of your business. Talk to a broker today to find out how your accounts receivable can be turned into cash for your business today.
- Business Structure
- Turnover and profit
- Time in business
- Requirements (how much you need and what you need it for)
Depending on your time in business and the type of product you are applying for, we will need documentation to approve the finance. This can be as little as ID for low doc loans, however it can be more complex for other types of transactions. Other required documents could include
- Last 2 years tax returns
- 3 – 6 months bank statements
- EFTPOS statements for last 3 – 6months
- BAS statements
- Profit and Loss statements
- Cash flow projections
When it comes to taking out finance, there is no such thing as too much documentation. We will always strive to make the process as smooth as possible with the minimum amount of documentation, however, the more prepared you are, the quicker we can make the process for you. Be prepared with IDs, residential and employment histories, payslips, or tax returns and profit and loss statements if you’re self-employed. The more prepared you are the more efficient we are.
Once you know the above, enquire online or call us directly and we can help you with the rest. If there’s anything above you need assistance with, not to worry, our devoted team can answer all your questions and find the deal that best suits your requirements. We can guide you along the way no matter how early, or late, in the process you are. We put your mind at ease and make finding the best deal easy from start to finish.