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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
Cost-effective Business Vehicle Finance to improve productivity on new utes and commercial van purchases
. 6 min read
Expected productivity improvements from new work vehicles can be enhanced with cost-effective business vehicle finance at cheaper interest rates. The expectation when acquiring new work vehicles such as commercial vans, light duty trucks and utes is that greater efficiencies and performance will be realised along with improved productivity to result in increased profitability. But where the finance to acquire these vehicles is not workable for the business, is secured at a higher rate than it could have been, or is not structured to suit specific objectives, those expectations may not be realised. The interest rate is a major component of vehicle finance and with the current scenario of the RBA raising rates, many business operators may have put purchase decisions on hold. But for others, ageing vehicles may make those buying decisions for them. All machinery, include vans and utes come to a time when their best days are behind them and they can become more of a liability than an... Read More
Latest data on construction activity may create need for business finance support
. 5 min read
The August construction activity report reveals another drop in some sectors which may create a need for some operators to require business finance support. The data reveals variations in some sectors that may indicate varying prospects for different operators. Prospects which may require either general finance to support the business or asset acquisition finance to support growth. The Ai Group reports the construction activity and the August results show a third month of contraction. However, the rate of that contraction is lower than for the previous month. In addition there are increases in new orders in some areas of the market. For business owners that refer to these reports for forecasts and possible indicators for their planning purposes, the August report may have mixed outcomes. Those operating in sectors which have continued to show a fall may seek support by way of restructuring existing loans through refinancing and other solutions. Those in sectors that reveal a level of improvement may... Read More
When finance offer differs from finance calculator result
. 5 min read
There are a number of factors to consider when the finance offer received from a bank or lender differs from the result obtained by using a finance calculator. Calculators are a great resource for businesses to utilise ahead of making major equipment and vehicle acquisitions and taking our business loans and overdrafts. They allow for quick and easy calculation of repayment estimates and enable businesses to plan how they may like their finance structured. Using a finance calculator is extremely for preparing budgets, scheduling asset acquisitions, comparing possible repayments on different priced equipment models and generally assisting with the purchase and investment process. But key to effective use of a calculator is the proper use of the resource and having a full understanding of what these finance tools can and cannot do. A key issue to realise is that there can be a difference between the finance offer received – in terms of interest rate, repayments and even loan terms,... Read More
Sole Trader Business Finance at Better Interest Rates
. 6 min read
Those in the process of planning to work for themselves in a one person operation, sourcing sole trader business finance at the cheapest possible interest rates is achievable through the right lenders. The dream or even the definite career plan for many aspirational individuals is to work for themselves. To, at some point in their working life or career, to make the transition from employee to boss. This may mean setting up as a sole trader in any number of fields such as:- contracting in the business services including tech activities, contract delivery work, construction and trade work, turning a hobby into the main income stream, establishing a beauty business, owner-driver and many others. Many of these types of businesses will require the purchase of some form of equipment and/or general financial support at least in the initial phases. Finance may actually be needed to establish the operation with the purchase of a van, truck, IT equipment, tools and possibly... Read More
