Hi FS users and community.
Here to help an business owners with questions on obtaining Finance & Loans. I haven’t seen many posts on the topic & I would like to share & help others as an experienced ex Commerical Banker and now Finance Broker.
Drop your questions here and I’ll answer them as best I can with general and informational responses on how to go about obtaining the funding you need to grow or expand your business.
To clarify for the community Business Finance might be:
1) Business Loan – borrowed money that you pay back with interest within an agreed time e.g. 10 years with monthly repayments of xx. Example to purchase stock, a commercial property or start up a business.
2) Overdrafts – a line of credit. Example might be to cover daily business expenses between customer payments to be received.
3) Equipment leasing and hire purchase – purchase of working equipment or assets that are important to daily business operations. Examples such as buying a truck, ute or excavator.
4) Invoice finance- funding outstanding customer invoices by turning them into readily available cash. This differs to a business loan or overdraft as repayment to the Lender matches the invoice terms (when it is due to the business/borrower).
Do you have questions on how to go about obtaining the funding you need to grow or expand your business? Post them in reply.
This information is general in nature and is not financial advice. It does not consider a borrowers objectives or if the information suitable to their circumstances.