Drive your venture forward with competitive rates and customised terms. Increase productivity and efficiency with the right vehicles for your needs. Get started today!
Grow your venture with our flexible loans. Benefit from competitive rates and personalised terms. Unlock new opportunities and expand your operations. Contact us now!
Accelerate your trucking commercial venture with our flexible Truck Loans. Competitive rates, fast approval, and tailored financing solutions for all your commercial vehicle needs. Drive your success!
Jobs and Skills Summit – outcomes, opportunities and options
. 5 min read
The Jobs and Skills Summit delivered positive outcomes for some businesses while others may require finance to support their operation in the shorter term. As a result of many migrant workers, temporary visa holders and international students leaving Australia in the early stages of the pandemic and not yet returning, the domestic labour market has been extremely tight. Unemployment has hit a near record low of 3.4% and the result is intense pressure on many business, constrained capacity to produce and lower production and productivity. The labour shortage has been flagged as a contributor to inflation due to the supply limitations it creates. These are issues noted by the RBA in recent monthly statements. With many businesses facing major problems recruiting staff to fill roles to enable full production, owners and operators would be looking to the Jobs and Skills Summit to deliver solutions. Solutions are clearly required to address immediate staffing issues as well as better equip the country... Read More
When rates rise, will low doc finance conditions tighten?
. 6 min read
With interest rates currently being on the rise businesses requiring low doc finance may be concerned around any tightening of conditions with higher rates. This is a specialist type of business finance, not as widely available as finance for fully documented applications and can include special conditions as requested by individual lenders. Cost-effective rates can apply but all applications are assessed individually. It can be, in simple terms, harder to get than finance for established businesses. Due to these specific features and factors, it would be only natural that in the light of the recent and ongoing RBA rate hikes, that some businesses requiring this type of finance may be concerned. Concern may exit can exist around whether this type of finance is harder to get, will attract premium interest rates and/or whether tighter and restrictive conditions may apply. We cover off on what is involved with Low Doc Business Finance, what loans are available, what business should and may... Read More
The RBA lifted the official cash rate again at its September Board meeting with the 50 basis points hike having potential implications for business finance. Businesses already feeling the effects of rising costs and labour market pressures may now be facing higher interest rates across a range of business finance products. The decision highlights the need for business owners to focus on achieving cheaper interest rates and more amenable conditions when sourcing a range of loans. The outlook for rates can be important considerations for those intending to invest in new asset acquisitions or are requiring finance to support and grow the business moving forward. The statement issued by the RBA Governor following the 6 September Board meeting offers some indication of the RBA’s rationale and intentions re further rates. Governor Lowe further elaborated on this matters and other issues in a speech delivered in Sydney on 8 September. These documents can be worth reviewing for business owners to stay... Read More
Is now the time to take on new business finance? Latest Unemployment Data
. 5 min read
With a further drop in unemployment in July and more RBA rate rises ahead, operators may have questions around timing to take on new business finance. The now 48 year record low unemployment level as of July, signals the continuing tightness in the labour market which is a key point noted by the RBA in guiding its rate decisions. The tightness of the current labour market can have impacts for interest rates but also for the business prospects. If not able to fill all its job roles, a business may not be well-placed to forecast optimum production let alone growth. We provide an overview of the latest information from the Australian Bureau of Statistics in relation to wages growth and employment and possible fall-out in regard to interest rates and business finance. The wages Unemployment at 48 Year Low The ABS release of the unemployment data series for July 2022 may send up red flags for some businesses that have... Read More
Refinancing for Small Business Operators as Rates Rise
. 5 min read
With lending interest rates increasing with RBA rate hikes refinancing for small business can be achieved with workable terms through Business Finance Aust. There can be a perception that small businesses are left worse off than larger enterprises when it comes to finance. That due to their size they will automatically be offered say a higher interest rate or tougher finance conditions. That may be seen to apply to both new finance and when seeking refinance. But this perception is not always the reality. Sure, if the small business is just starting up, then yes, it can be expected that they may be seen as a higher risk by lenders and as such attract a higher rate and/or tougher conditions for their loans. In these situations, we offer Low Doc and No Doc business finance. But if the small business has been operating for a reasonable time period, has a strong finance application and a good credit rating, they can... Read More
Economic Outlook Provides Intel for Business Finance Planning
. 5 min read
Planning business acquisitions with finance can be assisted by utilising information through sources such as the RBA and ABS and using professional services such as Business Finance Australia to secure cost-effective loans. The need for assets such as equipment, plant and machinery can arise at any time in the business cycle. Sometimes the need is urgent and immediate while in other cases, the business may schedule longer-term strategies over several years. When it comes to making decisions around moving on the investment and how to best structure finance to work through the upcoming economic conditions, additional intel can be invaluable. The ABS is a good source of data on a whole range of economic activities. In regard to finance, knowing possibly when interest rates may rise or fall, can be important to planning acquisitions with the most cost-effective loans. To assist businesses in this regard, information and outlooks provided by the Reserve Bank of Australia are worth reviewing. The RBA... Read More
The RBA rate rise decision for August and the forecast for additional rises signals rises in business finance rates but cost-effective loans are still available. The rise of 0.5% announced by the RBA Board on 2 August was widely expected by lenders, economists, analysts and the business community. The amount of 0.5% was possibly even lower than some anticipated with at least analyst tipping a full 1% rise. The expectations were elevated after the publication of the latest data series for both inflation and employment by the ABS. Inflation at 6.1% and unemployment at 3.5% were certain to be key considerations by the RBA Board in its August decision as it mentioned waiting for incoming data in its July statement. While expected the increase will come as yet another blow to business operators seeking new finance who are working on recovering from downturns during the pandemic and facing challenges in fully-staffing their operations to achieve full capacity output levels. RBA... Read More
Businesses requiring bad credit finance in the current rising rate climate can seek assistance through specialist business finance lenders to source loans. The increasing rate climate and soaring inflation is placing cost pressures on many businesses. But for those in bad credit situations the prospects can be even more dire and concerning. It is widely accepted that interest rates offered on bad credit business finance would be higher than those for businesses with good credit ratings. Inflation is the key driver of the RBA’s rate decisions over recent months and with inflation rising by another 1.8% in the June quarter to 6.1%, more rises are certain. While finance rates were coming off a low base having enjoyed the record low of 0.1% cash rate since November 2020, for bad credit finance, the rate increases are on top of a higher base. A cost which the business must absorb into operating costs or pass on to customers with higher prices. Options which... Read More
June Inflation Data Supports Further Interest Rates Rises
. 5 min read
The June inflation data supports forecasts of further interest rates rises but cheaper rates can be achieved through specialist business finance lenders. The RBA noted in statements earlier in the year that the rate rises would take some time to have an effect on inflation. So the rise in the June quarter came as little surprise. But on the back of the significant fall in unemployment reported earlier in July, these latest figures will certainly support the RBA’s next rate rise decision. The sharp rise in inflation since late 2021 is the main purpose of the recent RBA rate hikes. Additional rises may give further reason to increase rates by more significant amounts and over more months. For businesses planning new asset acquisitions such as trucks, equipment and motor vehicle, being armed with the information around inflation and interest rates may assist in budgeting for such major purchases. Rises in the cash rate flow through the lending markets. Often we... Read More
Tradies Health Month a Time to Ease Pressures of Business Finance
. 5 min read
August each year for the past 10 years has been designate Tradies National Health Month by Australia’s leading association for physiotherapists – Australian Physiotherapy Association (APA). The initiative was started to provide an opportunity for workers in many sectors, but particularly the trades, to reassess their wellbeing, both mental and physical. These are matters that often get put aside by many people. Business finance issues can be a source of mental health problems and Jade Finance urge operators to consider ways to ease the pressure in Tradies Health Month. Not only business owners in the trade or building, we’re making the call-out to all business owners. The focus on health during August represents a great opportunity to assess issues and concerns around business finances and seek solutions to improve the situation and avoid potential health worries. In addition to what could be expected under normal operating conditions, the pandemic has created a new set of challenges which continue to be... Read More
