A wide choice of commercial finance
lenders. Which is the right one?
BUSINESS FINANCE – WHAT TO CONSIDER?
Seek help to find the right package
With so many finance providers offering different finance types, with varying structures and repayment options, it can be difficult
to find the one that’s best for your business. It pays to seeks independent advice before you make your choice, and this is
where your Finance Partners broker can help.
Finding the right loan
A business overdraft gives you access to cash to cover short term requirements, such as bridging the gap between service
delivery and payment. An overdraft is usually unsecured but is likely to offer a cheaper interest rate that a credit card. If you
need to make a large purchase you might consider a business equity line, which is suited to businesses that might need a
cash injection on a very occasional basis. This form of business finance is likely to require security.
If you know how much you need to borrow you might consider a business fixed rate loan, which gives you the certainty of
fixed month payments. But if your cash flow is volatile you might opt for a business variable loan, as you may be able to
reduce repayments if needed.
What you’ll need
To be eligible for business finance, you’ll need to demonstrate a history of financial performance, including evidence of solid cash
flow and the ability to manage expenses and liabilities.
The sheer variety of loans and all the different rates can be overwhelming, but your Finance Partners expert can help you
navigate through the various options to find the one that’s right for you.
What our customers say:
“Our Finance Partners broker was fantastic – absolutely brilliant.
He was very creative in solving financial problems and he
handled all the paperwork on our behalf. Our broker secured
a business purchase loan and short-term finance for the
equipment we needed. I knew Finance Partners were very
good when it came to home loans but I was really impressed
with the skill and knowledge our broker had when it came to
business finance. I would absolutely recommend Finance
Partners to business owners looking for asset financing”
Business Finance – What to consider (Frequently asked Questions)
I am a business owner who rents my commercial premises. Should I consider buying a commercial property instead?
There are pros and cons to buying and leasing a commercial property for your business. Buying a property provides security
and freedom and it is an asset that can grow in value and be sold down the track. However, they can be quite expensive
and there also ongoing maintenance costs that you will have to consider.
On the other hand, leasing a property gives you the flexibility to relocate when needed, and it is an affordable option for
businesses - not only when they are starting out, but if they want to expand and acquire another business. However, you will
have a lack of control over the property and the cost of rent will generally increase every year.
Why use a Finance Partners for your business finance needs?
A Finance Partners broker has the knowledge and experience needed to help you grow your business and provide advice on
the right financial solutions for your goals.
They can source and apply for commercial loans and assist with any equipment and vehicle finance needs.
We work with a wide variety of financial institutes and can source the best deal.
Will I get a better deal if I go to my business bank direct?
A Finance Partners broker has the knowledge and experience needed to help you grow your business and provide advice on
the right financial solutions for your goals.
By going to your business bank, you will only have access to their products. A broker has access to a panel of lenders
offering hundreds of products. Better your broker can help you source through the various options to find a solution that suits.
What finance can a Finance Partners broker assist me with?
Your Finance Partners broker can assist you with sourcing and applying for a business loan and arranging equipment finance.
In addition, we are on hand to help you with all of your property needs - from commercial loans to investment and residential
property loans.
What should I bring to my first meeting with a Finance Partners broker
If you are seeking a business finance solution, you will need to bring:
Last 2-year’s tax returns for the business
Financial statements (Profit & Loss, cashflow statement, balance sheet, income statement)
Your latest management accounts statement
Your Company registration & Tin Number
Your personal Identification documents.
What can I expect during my first meeting with a Finance Partners Broker?
The more the broker understands about your business and goals, the better he/she will be able to assist your needs. You can
expect your broker will speak to you about:
What your business does and how it is structured
What your goals and targets are
Who are your competitors
Your view on threats, risks, and opportunities
Which Business Loan is right for me?
It depends on your situation, your business, and many other factors. Speak to a broker to find the right solution.
