Business loans is an area where the lender offering is most varied and to that extent phoning us to refer you on to a reputable business banker can offer the greatest level of value.
Generally speaking, "business finance" is for the purpose of;
- Purchasing an existing small business,
- Starting up a new small business,
- Expanding an existing business or
- Providing working capital for an existing business.
The most common lending products in Melbourne for business loans include:
- Term loan - a basic loan which can be P&I or interest only (very similar to a home loan)
- Commercial bill - an interest only facility which rolls over every 30, 60, 90, 120, 150 or 180 days. Lump sum reductions can be made at roll-over, but not during the set period
- Business overdraft - fluctuates regularly to pay business expenses and reduces by business income
- Debtor / Invoice finance - a working capital facility secured specifically by debtor listing
- Trade finance - working capital facility specifically for importing / exporting
- Inventory finance - working capital facility using stock as security
- Short term finance - from $30,000 to $3,000,000 as quick as 5 days. Registered first mortgages, no evidence of income required, interest capitalising with the sale of the security offered to payout this loan.
If you would like to discuss your Business Banking requirements you can: