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One of the most commonly asked question in regard to business finance products is "is it tax deductible?" Business operators typically want to know that by entering into a business loan they are not only securing a solution for that acquisition or cost purpose but that the finance arrangement will deliver benefits to their bottom line. Tax deductions reduce the taxable income and tax payable by a business which can represent a significant cost saving. More information here. Selecting the commercial loan product which delivers the optimum outcome for your business in regard to taxation benefits is an important stage of the finance process. We operate across the full portfolio of commercial lending and our team are experts in sourcing and structuring finance deals for asset acquisitions, property finance, lines of credit and general funding purposes. When it comes to the specific taxation arrangements of our customers we highly recommend referring to your accountant for advice. On your approval, your... Read More
The idea of unsecured business loans may conjure thoughts of a desperate situation. A loan of last resort. A business with no business. Exorbitant interest rates and unfeasible repayments. Something to be sought only when you've run out of all other options. The reality is, while some of those worst-case scenarios may apply for some businesses applying for an unsecured loan, in many cases, there is plenty of positives that accompany this type of loan. Unsecured business loans are a very important product in the commercial loan sectors and used by businesses of all sizes for a wide range of purposes. Many businesses use unsecured finance on a regular basis with an ongoing line of credit or loans for commonly occurring operational expenses. e. Some utilise this type of loan to capture and capitalise on opportunities, foster ground-breaking ideas, and products and deliver innovative new products to market. There are sure to be great business success stories that have grown... Read More
February in 2021 is a very different start to the business year for many as it signals a return not only to work post-holidays but a return to the workplace post-COVID-19. Many small businesses in CBD locations will no doubt be extremely relieved as high density office locations have suffered significantly over the past 12 months with many workers ordered to work from home. On reflection, 2020 may have been a year of polar opposites in the small business sector. Many simply could not survive the economic impacts of Coronavirus (COVID-19) case numbers and statistics and had to close permanently. Others thrived or at least survived, primarily as a direct result of receiving government support on a number of fronts. Some were fortunate to be presented with opportunities to implement their own innovations and pivot into the delivery of new services. But as 2021 rolls on and much of the COVID-19 support is rolled back, small business operators will want,... Read More
When requiring finance, businesses are faced with a range of options in regard to the type of loan and which lender to go with. The business finance sector includes multiple lenders and a large selection of different commercial loan products. With some loans running over lengthy finance terms and with interest rates varying across different finance products, decisions around selecting the right business loan can have significant impacts on the business moving forward. Referring to your accountant or financial advisor is always an astute move but having a solid, general knowledge of commercial loans yourself can be extremely valuable. To assist business owners in making decisions around which is the right business loan for their specific needs, we’ve provided this general guide to better understanding business finance. Business Finance by Function When sourcing finance most business owners will ask ‘what is the right business loan option for me?’ While not extremely informative, the correct answer is simple – the loan that... Read More
Most business owners engage the services of an accountant to handle their annual accounts, tax obligations and other regulatory commitments so they can get on with doing what they enjoy, what they're trained for and what brings in the money - running their business. While accounting is a specialist profession and many aspects best left to the experts, it can be extremely worthwhile for business owners and decision-makers to have a good understanding of the basics. This is particularly significant when it comes to deciding which type of business loan is best suited to an organisation. Different commercial finance facilities are suited to the different accounting methods. Understanding why and how the finance type selected can work to deliver taxation and other benefits to your business may be extremely useful and advantageous in managing your business. To assist you to build your knowledge bank, we’re covering off the basics of the different accounting methods and how each works with the... Read More
When acquiring assets for your business you have the choice of a number of loan products to finance the purchase. We offer the full range of commercial finance facilities through our lenders which include both banks and non-bank lenders. But it is up to the business to advise their finance broker or lender which particular loan product they are seeking. That decision is best made in consultation with your accountant as the choice of finance depends on the accounting method you use and your financial goals. Specifically, how your business treats the different aspects of taxation. The main types of finance products for business include: Chattel Mortgage Asset Leasing Rent to Own for Businesses Commercial Hire Purchase The most commonly used are leasing and Chattel Mortgage. All finance types can be used for the purchase of a wide range of commercial assets including cars, heavy vehicle finance, all types of truck finance, plant and machinery and an extensive selection of... Read More
In response to the coronavirus pandemic, the Federal Government has instigated numerous support measures and recovery packages for business. Some of these supports are specific to individual sectors, some subject to eligibility, some are cash hand-outs that are automatically distributed and some require applications. Key to our specific area of interest, lending, some measures require businesses to invest through the acquisition of assets in order for a benefit to be realised. In addition to the Federal Government offers, individual states and territories have also introduced a range of initiatives to support businesses through the crisis. Staying across what is on offer, what action you need to take to ensure you receive your entitlements has been a major task throughout 2020. As Australia proceeds through, what hopefully will be the COVID-19 recovery and rebuilding phase, it is expected that even more initiatives will be rolled out. More info. The measures in the 2020/21 Federal Budget will be keenly watched. While many... Read More
