Understanding small business loans
A simple guide to help you understand your financials including balance sheet, profit and loss, annual view and interim statements.
Find out your borrowing power when applying for a business loan, what assets are acceptable and what to do if you want to sell your asset before your business loan is repaid.
What criteria do we use to approve business loan applications and how you can improve your likelihood of acceptance.
A guarantor for your business loan is needed if you don’t have an asset as security. A guarantor will meet your business loan repayments if you can’t.
Learn about security and what type of asset is acceptable to secure a business loan.
If you own a small business with an annual turnover under $2 million, you can claim an immediate tax deduction for selected business-related purchases under $20,000.
If you’re using your property to secure a business loan, what happens if you want to sell it before you’ve repaid the loan? Will your lender allow you to sell your asset and what are the requirements?