Commercial Loans: Options for NY Finance Requirements
Business Finance Australia offers cheaper interest rates on commercial loans and asset finance to meet the finance requirements for businesses to grow in 2023.
In order to capture and capitalise on emerging prospects, to strengthen the company’s existing position and to be well-placed to move on growth plans, cost-effective finance can be essential.
Commercial loans may be critical for many businesses to deal with the ongoing economic challenges and stay ahead of the competition in bidding for lucrative tenders and contracts. Many asset investment decisions may have been deferred due to uncertainties in the economic outlook and especially as a result of the tight labour conditions.
But ageing machinery, inefficient technology and equipment which continues to pressure cash flow with ongoing repair costs may be holding the business back from achieving its true potential. Making that investment in new assets with cost-effective commercial loans may be the solution required.
Benefits of Investing in New Assets
Some of the key terms in business growth and success are productivity, efficiency and profitability. Improvements and increases in these key business measures are a major focus for many operators. These may be achieved through investment in equipment where the finance is cost-effective and specifically structured to meet the individual needs of the business.
We outline a few scenarios for your consideration:-
- Facing labour issues, increasing productivity through new machinery could be a solution. Consider higher capacity machines which can do more work in less time such as the latest large excavators from Caterpillar.
- For hospitality operators and those in warehousing and logistics, new digital technology may assist in dealing with sub-optimum staffing levels. New systems to upgrade processes and production across many industries can be financed through us at cheaper rates.
- Cutting costs is a key strategy to achieve increased profitability. Fuel costs for example are a major cost burden on business at the moment. The move to electric vehicles with cheaper car finance or machinery with better fuel efficiency may deliver those cost cuts. Those considering EVs should also be aware of upcoming tax changes which are set to reduce the price of some models.
- Those in transport sectors may benefit significantly from investing in the more fuel efficient trucks currently on the market. While purchasing a ready to work vehicle set a new contractor up to start business from day one. Our No Doc and Low Doc Finance assists those looking to start a new operation with affordable commercial loans.
- Manufacturers of most business equipment and machinery are utilising the latest tech to increase performance, reduce costs and deliver improved productivity and efficiency for customers. The investment in new machinery, systems and processes can be made workable where the interest rate on equipment finance and the repayment schedule are negotiated to work with long-term budget expectations.
When making the cost-benefit analysis of investing in new assets such as trucks, vehicles and equipment, remember to factor in the availability of attractive tax measures which are currently available. Specifically, temporary full expensing
. This measure enables the eligible business to depreciate or write-off the full acquisition price of the eligible asset in the year of acquisition rather than in incremental amounts over several years.
The outcome means a greater deduction from taxable income and a lower tax bill come the end of the financial year. That lower tax bill could be seen as a savings and should be included in the overall investment decision.
Commercial Loans Solutions
While asset acquisitions can elevate a business to achieve improved productivity and efficiency, some may require a more general form of financial support to kick-start 2023 or more targeted solutions. Our commercial loans portfolio includes both general and specific finance products which are sourced, negotiated and structured to specifically address the needs of that business.
A Business Overdraft Facility
is one of the most popular forms of finance support for businesses and can presents an extremely workable option for both short-term cash flow pressures and ongoing issues. Overdrafts are available not only through banks but also through a number of our non-bank lenders.
Where the annual premium on a large insurance policy falls due in one payment which puts pressure on the business finances, consider Insurance Premium Funding. This is a very specialist form of finance which we offer to divide large premiums into smaller instalments.
Another very common challenge faced by many businesses of varying sizes is receiving payments from customers in a timely manner. Where invoices are not paid promptly but the business has already outlaid expenses for the goods or services provided, the pressure on cash flow can be unsustainable. Debtor Invoice Funding is specifically designed to address this issue and can be sourced as a very cost-effective solution.
Is your business ready to kick-start and achieve full potential in 2023? If commercial loans may assist to better position your operation, speak with us about a range of commercial loans solutions.
For cost-effective commercial loans, contact Business Finance Australia on 1300 000 033
DISCLAIMER: THE SPECIFIC PURPOSE IN PROVIDING THIS ARTICLE IS FOR GENERAL INFORMATION ONLY. IT IS NOT INTENDED AS THE SOLE SOURCE OF FINANCIAL INFORMATION ON WHICH TO MAKE BUSINESS FINANCE DECISIONS. BUSINESS OWNERS WHO REQUIRE ADVICE OR GUIDANCE AROUND THEIR SPECIFIC FINANCIAL CIRCUMSTANCES ARE RECOMMENDED TO CONSULT WITH AN ADVISOR OR ACCOUNTANT. NO LIABILITY IS ACCEPTED IN REGARD TO ANY MISREPRESENTATIONS OR ANY ERRORS RE ANY DATA, SPECIFICS, POLICIES AND OTHER INFORMATION AS SOURCED FROM OTHERS.