Loans to Small Businesses and Commercial Property
Are you looking for a Loans to Small Businesses in 2024? Many of our clients are self-employed and while they wish to purchase a rural property or farm, they also have existing small businesses and commercial property needs.
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This can include:
- Small business loan requirements for an existing business: overdrafts, secured business loans for business cashflow or special projects
- General business banking requirements – we have clients looking for banks that will support both their existing business requirements and their new agri or rural lending. Having all of their banking under the one roof can make managing finances and moving funds between entities much easier
- Commercial property purchases: for example industrial, retail and vacant commercial land purchases
- Refinancing and debt consolidation : as part of a rural property purchase, we have clients that undertake a refinance and move their small business and home loans to a single lender using equity to cross secure properties, to enable their rural property purchase to become a reality
- Guidance and assistance with ATO Debt, compromised credit files and general lending strategy, including preparing for a property purchase (we work with clients on longer term goals and may see a client return after 12 months who is now ready to purchase)
Just because you are self employed, it does not mean that you cannot get finance or that the funding has to be “low doc” or with a lender that charges a higher rate and more fees. We work with a selection of small business bankers, who can assist and advise on a range of scenarios and can also do mixed lending, which can involve a home loan, a small business loan and a rural property purchase. We have had clients come to us thinking they could not get finance because they were self-employed, to find that they were able to achieve their goals and secured finance with major lenders.
Why take out loans to small businesses
Taking out loans to small businesses can be a strategic and beneficial move for various reasons, contributing to economic growth and fostering entrepreneurship. While the idea of debt might seem daunting, when managed responsibly, loans can provide the necessary capital that small businesses need to thrive. Here are several compelling reasons why taking out loans to small businesses is a prudent decision:
- Capital Injection for Growth: Small businesses often face challenges in scaling their operations due to limited capital. Loans provide an immediate injection of funds, enabling these enterprises to expand their production capacity, hire more employees, and explore new markets. This, in turn, contributes to increased revenue and economic development.
- Innovation and Technology Adoption: Staying competitive in the modern business landscape requires embracing innovation and adopting new technologies. Loans allow small businesses to invest in state-of-the-art equipment, software, and systems that enhance efficiency, productivity, and overall competitiveness in the market.
- Job Creation and Economic Impact: Small businesses are significant contributors to job creation. By securing loans, these enterprises can afford to hire more employees, reducing unemployment rates and positively impacting local economies. This ripple effect enhances the overall economic health of the community.
- Market Diversification: Loans empower small businesses to diversify their product or service offerings and explore new markets. This diversification not only safeguards against economic downturns but also opens up avenues for increased revenue streams, making the business more resilient in the long run.
- Risk Management: While taking on debt involves an element of risk, it can also serve as a strategic tool for risk management. With a well-thought-out business plan, loans can help small businesses navigate through challenging times, seize growth opportunities, and weather unforeseen economic downturns.
- Building Creditworthiness: Responsible management of loans can positively impact a small business’s creditworthiness. This, in turn, makes it easier for the business to access additional financing in the future at more favourable terms. Establishing a good credit history is crucial for sustained growth and financial stability.
- Access to Specialized Expertise: Loans often come with the added benefit of financial advice and support from lending institutions. Small businesses can leverage the expertise of financial professionals to make informed decisions, manage cash flow effectively, and navigate complex financial landscapes.
- Fostering Entrepreneurship: By providing financial support to small businesses, loans play a pivotal role in fostering entrepreneurship. They encourage individuals to pursue their business ideas, innovate, and contribute to economic development, creating a vibrant and dynamic business ecosystem.
In conclusion, taking out loans to small businesses, when approached with careful planning and responsible financial management, can be a catalyst for growth, job creation, and economic prosperity. It empowers entrepreneurs to turn their visions into reality, contributing to the overall health and vitality of local and global economies.
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