Tag: Business Loans

Innovative new finance options for business owners trying to secure a home loan or qualify for business finance.

Phase 2 of the Coronavirus SME Guarantee Scheme commenced on the 1 October 2020 and includes a range of new measures to support businesses applying for loans. We examine what the Phase 2 changes mean for your business and how you can apply. What is Phase 2 of the SME Guarantee Scheme? The Government has […]

RBA statistics for April recorded the slowest annual growth in credit for mortgages since the data was first collected in the late 1970s. The growth of lending to businesses flatlined in April while personal loans retreated for the seventh month in a row and annual property credit plummeted to unprecedented lows, central bank statistics suggest. The […]

Nearly half (44%) of Gen Y (also referred to as millennials) small businesses have applied for finance in the last year and more than a third (39%) of those applications were declined. This is according to the latest findings from the MYOB Business Monitor.  The report, which explores the state of play of 1,000 Australian […]

Staying with a Big 4 bank could cost you $6,007 in extra interest on a $250,000 business loan over 5 years The average Big 4 business loan rate is 88 basis points higher than the average of the challenger banks The Big 4 failed to pass on the 100 basis point cut to the official […]

When running a business, it is more than likely that at some point you will need a loan. This may be a short-term solution to cash-flow, a means to buy new equipment, to fund the expansion of your business or to break into new markets, or to refurbish parts of your business. Business loans are […]

One of the requirements for businesses to secure a bank loan is to have a formal business plan in place. According to the State Government of Victoria’s Business Victoria website, “When applying for a business loan, it’s essential to prepare a detailed business plan and fully inform the lender about your proposed venture. This information […]

Business owners can be cautious thinkers, looking out for every possible roadblock their business may encounter. It is a both a blessing and a curse, as there are situations when it can serve a business owner well and other times, being ultra conservative can be a hindrance. Being over cautious is often the case when it comes […]

If you’re a business, the lifeblood of your business comes down to one thing – cash flow. If you have bottlenecks in cash flow, it makes life tougher and it can be hard to catch up. When cash flow is tight, you may feel that necessary asset purchases such as cars or equipment need to […]

Legislative changes over the last few years to protect borrowers have made life easier for some and harder for others. While many borrowers now enjoy higher levels of protection, borrowing can now be harder for self-employed entrepreneurs.