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Borrowing To Grow Your Business

By Author: Frank
Total Articles: 14

If you are self-employed or a small business owner growing your business can be a challenge says Frank Zelasko, Compliance and Risk Audit specialist and retired accountant, Frank also says that you may find your expansion plans are frustrated by:

• Insufficient or outdated equipment;

• Business premises that are just too small;

• Irregular cash-flow; or

• Missing out on opportunities because you simply don’t have the money required to hire new staff you need.

Seek Expert and Professional Advice

That is where seeking credit advice from a professionally qualified finance broker can make a huge difference to your success. Using the experience of a professionally qualified finance broker who understands the circumstances faced by small business and the self-employed can really open up opportunities for you.

http://www.singhfinance.com.au is a reputed Australian finance brokerage firm that employs a team of expert and professionally qualified finance brokers. They are willing and able to guide you through the finance options that best meets your needs and individual circumstances. They will also obtain pre-approval for your finance and they will even help you find suitable building insurance for you. Call on 0424 190 908 today or visit their website and simply click on the "ENQUIRE ONLINE" form.

When you read this article you will find just a few alternative and interesting finance options that you could use to help your business grow. For example:

1. Equipment Finance/Leasing

If you want to be competitive in your business, then the right equipment at the right time can be vital to your success. As outdated equipment can really limit your business activities and can even cause you to miss out on new opportunities or any larger projects. There are several different ways you can go about financing the all-important equipment your business requires. For example:

• Equipment Finance (also known as a Chattel Mortgage) can give you access to finance for just about any kind of equipment (e.g. a small truck for your plumbing business to major earth moving equipment, or even cookers and fryers for your new restaurant); or

• As an alternative you can consider a Finance Lease, which is a well-established form of equipment finance.

Reminder: It is important to remember that Leases and Hire Purchase agreements often carry additional tax benefits* for small businesses and the self-employed, such as input tax credits for rental and other charges that are subject to GST.


2. Commercial Property Loans

Unless your business is totally online or home-based, the right business premises can also be vitally important to your success. If you want to purchase premises for your business, a professional finance broker should be able to access a wide variety of suitable loans from lenders/credit providers who are willing to provide mortgages for commercial property. However, just like most residential home loans or even property investment loans, it will be necessary to assess the financial situation and circumstances of both you and your business to determine how much you can borrow?

3. Cash-Flow Financing

Interestingly, over 400,000 small to medium sized businesses use a common form of small business loan that is known as cash-flow financing. With this type of finance option, instead of using collateral that is based on your businesses assets, you can use the cash-flow financing option that is based on your businesses cash-flow.

If your business is strong and you need an injection of cash to capitalize on a business opportunity or you just want to grow your business further, cash-flow financing may be able to give you access to up to $250,000. You can even use the money for any other worthwhile purpose such as:

• Purchasing inventory;

• Financing for your tax purposes;

• Bridging receivables gaps; or

• Staffing costs needed for any new contracts.

Frank has only mentioned a few of the finance options available to you. If you are a business owner or self-employed and you require more information about financing options for your business, give your professional finance broker a call and he or she will point you in the right direction.

Disclaimer: This article is of a general nature only and does not constitute professional advice. I strongly recommend that you seek your own professional legal and accounting advice in relation to your particular circumstances.


Read more: Borrowing Power Calculator and Debt consolidation loans in Australia

Total Views: 33Word Count: 703See All articles From Author

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