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!
Options for hard to get finance: New Biz, Small Biz, Micro Biz
. 5 min read
There are several types of businesses and categories of loan applicants that can face challenges when sourcing low rate business loans requirements. Specifically, new businesses which are in the process of setting up or have only been operating for a relatively short period; small and micro businesses regardless of how long they have been in operation; and businesses that have a poor credit history and hence a bad credit score. The challenges faced by these groups are widely known and can be a deterrent to businesses even applying for loans. Even the faintest prospect of being rejected for finance by a bank can be enough of a disincentive for businesses to completely put off applying. They dismiss relying on finance and instead either seek out alternative solutions to business needs or just proceed ‘as is’ and forego opportunities to grow and expand. With the deregulation of the Australian financial sector, a large number of non-bank lenders have entered the lending... Read More
How temporary full expensing and loss carry back work together
. 6 min read
When seeking finance to purchase assets such as motor vehicles, trucks, plant, machinery and equipment, business owners understandably focus on securing a solution to their prime concern – purchasing the needed assets with the cheapest finance. The attention is on a solution to a need. On purchasing equipment that will deliver a benefit to the business. To improve productivity and increase profitability. But beyond that primary priority, there are aspects of the actual finance product itself that can also deliver significant benefits to the business. Yes, sourcing the cheapest interest rate business loans will definitely support the business cash flow. But looking further than the basics can be worth the extra effort. One would assume that purchasing equipment for business purposes would be a tax-deductible expense. But not all tax deductions are treated or realised equally. Business finance products are all structured to include tax deductions for the business but the range of loans vary in how that benefit is... Read More
Most small business owners could be understandably quite overwhelmed by the massive figures such as a deficit of $161 billion and net debt of $980 billion by 2024/25 included in the 2021/22 Federal Budget. Operating as a sole trader, freelancer or running an SME, business owners deal with much smaller numbers and need to put the big picture into the small business frame. SMEs will be looking for a much easier to digest and relatable version of the latest announcements from Treasurer Josh Frydenberg. Identifying the significance of budget measures for your SME can be a time-consuming and challenging task. Our team at Business Finance is assisting by providing these highlights of the key budget measures that we see as relevant to small business owners and operators, sole traders and family enterprises and those looking to establish a new small enterprise. In addition, we’re providing information on the small business finance options we have available to enable SMEs to utilise... Read More
Despite the significant coronavirus stimulus packages announced throughout 2020 and many of the measures delivered for business in the delayed 2020/21 October Budget still available, the 2021/22 Federal Budget still attracted much attention from the business community. Although a number of the measures in the Budget were pre-empted with the traditional pre-budget ‘leaks’ by the Treasurer, Prime Minister and other relevant Ministers, there was still plenty of ‘reveals’ in the official bringing down speech. To assist businesses grappling with the big numbers and to cut through to what your business may gain from the Federal Budget we have summarised the key points from our Business Finance perspective. General Overview The Treasurer, Josh Frydenberg, clearly stated prior to his Budget speech on 11 May, that this would not be an austerity budget to address the debt accumulated as a result of the stimulus measures. He said it would be a budget to repair the economy with a continuation of spending but... Read More
Before making a commitment to buy anything, of course, you're going to want to know how much it is going to cost. The same goes for business finance and commercial loans. Before you can proceed with placing your order for that car, truck or equipment purchase, you'll want to know what your loan is going to cost. The most common questions that our consultants are asked is what interest rate I will get and what will my repayments be on my loan. Business Finance provides a number of resources to assist you to estimate your repayments on different loans and we’re providing this overview on the differences and variations in different commercial loans. Business Loan Products When purchasing equipment, cars, trucks and other business assets, business owners have the choice of a number of different loan products. The business finance selection includes: Business Leasing Commercial Hire Purchase Chattel Mortgage Rent-to-Own or Equipment Rental Loan types vary in their structure and... Read More
The decision to acquire new business assets including cars, trucks, machinery and equipment involves a whole range of steps, considerations and evaluations. Which particular make and model to the buyer? Which model will deliver the best outcome for the business? Which finance product to use? Pay a deposit or borrow the full amount? Price of the asset and the finance? An extra consideration is getting the timing spot on. Deciding when is the right time to invest in new business assets should also be a priority. Numerous aspects can be evaluated in this stage of the buying process and we have collated a range of factors and current data for your consideration. EOFY Countdown We’re now into the home stretch or sprint to the end of the current financial year. 30 June is a key date in the business calendar for many reasons but rather than focus on that date, the weeks leading up are more critical. That is time... Read More
We’re now in the countdown to 2021/22 Federal Budget to be delivered by the Treasurer on 11 May and business owners will be watching, waiting and wanting a good outcome. Facing a massive COVID-induced deficit, there was conjecture over whether the Morrison Government would hold fast to the traditional ‘no deficit’ approach or put that aside and continue to spend to support the economy. Prior to making his official pre-budget speech on 29 April, the Treasurer, Josh Frydenberg, was quick to confirm that this would not be an austerity budget. The Government would take the approach that repairing the economy to repair the budget. More info. With the 2020/21 delayed budget effectively only 6 months into its duration, businesses are still taking advantage of many of the key measures introduced. From a lender’s point of interest, we single out the accelerated asset depreciation. The Instant Asset Write-off and temporary full expensing are available through 2021/22 for eligible businesses and offer... Read More
Finance support for both sides of the balance sheet
. 5 min read
When balancing the books on a weekly, monthly, quarterly or annual basis, many businesses focus primarily on sorting out issues from their side of the balance sheet, their perspective. Allocating the existing bank balance to cover individual outgoings due including bills, supplier invoices, rent and wages. Many seek loans and finance to cover short term shortfalls rather than taking a holistic approach and looking at both sides of the balance sheet. We’re talking about the difference between seeking a cure so to speak rather than simply treating the symptoms. Follow us on this one as Business Finance provides commercial loan solutions which address multiple requirements for all types of businesses. Business loan interest rates vary across different finance facilities and selecting the specific loan product for that specific purpose may deliver a better outcome. Especially when that interest rate is the cheapest available. This brings in the second point to this article –lender selection. Interest rates not only vary for... Read More
RBA holds interest rates for now, but what of the future?
. 5 min read
It's fairly common knowledge that interest rates are currently at historic low levels. Great for borrowers, not so great for those dependent on interest from savings and investment accounts. Interest rates across all areas of lending have been at low levels for some time, but the actual rates vary across different loan areas - homes, vehicles, equipment, personal loans v business finance and across the different types of commercial finance available to business. The low interest rate scenario has presented opportunities for businesses to invest in assets through securing extremely cost-effective finance deals. Business Finance secures commercial finance at fixed interest rates so our customers have the confidence and assurance that their repayments will remain constant for the full length of their finance term. View our business loan interest rates here. So what is happening now and possibly ahead for interest rates? In Australia, the RBA is responsible for setting the official cash rate which is essentially the rate at... Read More
Securing Truck Finance that doesn’t Overload Your Business
. 6 min read
There are two parts or components to a truck finance deal and both can incur unnecessary cost imposts to your business depending on how you decide to approach them. There is the actual loan itself and there is the process by which you acquire that loan. Most likely just like the truck make and model you’re considering purchasing, these two components have variants. Different options vary in regards to cost-benefit analysis. For one, the choices are quite cut and dried and decided primarily on a technical basis. For the other, it can be a more personal choice but with consequences. Intrigued? We elaborate to enlighten you on how you can secure a cheap truck via a process that won’t overburden your capacity. Truck Loan Options Businesses have the choice of a number of finance products for the purchase of trucks. Cost savings and tax benefits can be realised by selecting the right loan product and by ensuring the interest rate... Read More
