Commercial finance in 4 easy steps
A. Commercial finance is the function of offering loans to business. These loans are usually secured by business assets, and sometimes personal assets; as well as they can be unsecured as well. Business assets may include Real Estate, Receivables from invoices, or even Equipment or Stock and Supplies.
B. The very nature of commercial loans associates itself to higher risk, thus higher interest rates. Because of this norm, lenders create products that suit your business needs not only with extra funds; but with perhaps a solution for easier banking, a credit card and such. Your broker can advise and tailor your business needs with a complete solution that provides more than one resource with your loan. A broker should be aware of the many solutions available in the lender market place, so why restrict your business with just the one lender that perhaps you are used to. As you may have gathered by now, Progressive Loans can give you and your business many options to choose from.
C. While SMEs account for 97 per cent of Australian businesses, it can still be difficult to make a case to a bank when looking for finance to start a new business or invest in the growth of an existing one. The good news is that applying for commercial finance through a bank is far from the only option. An MFAA accredited Finance broker can assist you and your SME in finding a solution to your business financing needs. We all understand that cash flow is the lifeblood of any business large or small, but especially critical to a smaller type enterprise which may not have the asset backing to secure a competitive source of finance. Progressive Loans can resource multiple lenders whom are looking to fund SME’s, but need to see a strong case in support of their application. We know how to promote your business profile, with just the right documents and information for a successful application.
D. Director and Owner Terry Feduniw has had around 40 years’ experience in industry, with a strong understanding of a business’s financial needs. Working as an Accountant in this time, he knows budgets, business plans, financial reports and cash flows like the back of his hand. He can help you present these in an informative way, that supports your application in a positive way. He knows what lenders are looking for, and he can be that middle man that brings lifeblood into your business.