Need finance for business growth, cashflow or to take advantage of a new opportunity?
Understanding the cashflow cycle of your business is key to success, we’ll help you understand the cycle and then work with you to secure the funding to meet your business needs.
From loans to purchase your business premises, vehicles or equipment, to overdrafts, trade finance to purchase stock or invoice finance to unlock the cash in your debtors ledger sooner, we’ll help you work it out and then secure the finance.
Becoming your own landlord?
If you’re considering buying business premises, we can help you secure the finance. Have a chat to us about the option of purchasing your premises through your self-managed super fund. SMSF’s are highly regulated so it’s important you get the advice of a financial professional, like a specialist accountant or financial planner to assist you to make the right choices. We have the right network of professionals to help you evaluate the options and make it happen if it makes sense for you.
Buying vehicles or equipment?
We’ll help you structure the purchase of your new business vehicle or equipment to suit your cashflow and medium to long term plans, and negotiate a great rate for you.
Need working capital?
Some of the working capital facilities we can assist with include:
An overdraft is an approved amount of credit you can use if and when you need it, that’s usually attached to your business transaction account. Because it’s designed to be a day-to-day facility, and not for capital purchases or long-term financing, an overdraft may provide a permanent source of short term funding to meet your operational expenses.
Lines of Credit
For access to larger amounts of finance, a Line of Credit is another option. Like the overdraft facility, it’s credit you can access when it’s needed, but usually secured against property and generally not attached to a transaction account.
Trade and Inventory Finance
For many businesses, keeping adequate stock levels on the floor is what keeps them running efficiently. Inventory Finance is a short-term loan that allows you to purchase stock in advance without using up all your cash reserves. The products you buy are the collateral, so you don’t have to use your assets to secure the loan. This type of finance is especially useful for overseas trade purchases when buyers and sellers aren’t known to each other.
Unsecured Business Loans
Unsecured business loans are a relatively new option for businesses that need to get access to some extra funds. The obvious benefits of this type of finance is the speed in which access is granted to the finance, with simplified application process. This may allow you to quickly take care of cash flow, cover urgent expenses, or make the most of an opportunity.
In recent years, a number of agile financial technology (fintech) lenders have entered the finance market in Australia. These more non-traditional lenders can turn around approvals and deposit cash into your account in as little as 24 hours. Because they are unsecured the application is simpler and the loan amounts are often smaller – usually anywhere from $5,000 to $250,000. It also means there is greater risk to the lender so the interest rates may be relatively higher and the loan terms a lot shorter, with principal and interest repayments generally on a weekly basis but sometimes even daily.
While the access to funds can be handy, it’s important to weigh up the repayment terms and amounts to make sure this short-term cash injection helps your business over the short and medium-term.
Do you have cash trapped in your business?
Often there is cash already within your business that can be unlocked by making relatively small changes to the way you manage your stock, debtors, creditors and often your relationship with the ATO and how you plan for payments.
We work closely with the Affinitas Accounting team to help clients unlock the cash trapped in their businesses. If you’d like to find out more, get in touch.