21 Jun Can short-term finance support your business?
Short-term business finance for Australian small businesses
Short-term business loans help you and your business to act quickly on opportunities as they arise without having to rely on your business cashflow. Working with a company like IBN ensures you have access to the right funds, through the right funder, in a timely fashion – all to support your business.
It’s important to understand what short-term business finance is and how it can help your business, so read on to find out more!
How can I use a short-term loan for my business?
- Opportunistic purchases of stock or property requiring quick action
- Covering unplanned expenses (new manufacturing equipment, customs requirements, buying out a business partner, etc.)
- Boosting cash-flow to smooth out peaks and troughs
- Paying out existing debt
- Buying out a business partner
- Premises refit/refurb
- The list goes on
No need for financials
Because short-term business lending is exit-strategy based, we don’t need to see years and years of financials. So, even if you and your Accountant haven’t caught up in a while, we can still help you with your funding needs.
Real estate security
If you are using residential property to secure your finance, second mortgage options are available in need. Please don’t feel that your situation can’t be helped, we work with people in all sorts of scenario’s – it’s not often we can’t assist.
Short settlement time-frames
Short-term business lenders know you need to move quickly and easily through the lending process, so you can get back to business! In certain circumstances, we can have your application approved and settled within 48 hours. Think about how access to funds that quickly could benefit your business operations and your ability to jump on opportunities as they pass!
Specific loan term
Short-term lending is not core debt. It generally has a maximum term of two years and as short a term as one month. It is designed to facilitate an opportunity, or to get you out of a quick pickle, while you are waiting on your regular business cash-flow to catch up.
Credit issues and ATO arrears aren’t a barrier
Got a little tax debt hanging over your head? Not to worry, we can either take it into account when reviewing your finance application, or, perhaps look at paying it out to get the monkey off your back.
In the interim, you might like to read this post about the new reporting powers the ATO has at their disposal. If you are affected, drop us a line.
Ongoing relationships
Many of our clients go on to have long-term relationships with their funding partners. No, no, no, not THAT type of relationship! One that is mutually beneficial, that considers the business’s seasonal requirements and cash-flow needs. How easy would it be for you to send a quick email advising of your needs and have cash in the bank a few days later?
Many of our funders enjoy long-term partnerships with their borrowers. They become knowledgeable of the business and the directors, understanding their needs and how they can assist.
Why IBN?
We’ve been doing this for a long time, nearly 18 years. We have exclusive access to lenders you can’t Google and who know that a quick turnaround is paramount for Australian businesses.
We don’t operate like a bank, we have direct relationships with our lending partners. This means we can pick up the phone, speak to them and share your needs quickly and easily.
Our funders operate quickly and with a commercial perspective.
If they can see the benefit to you and your business and the sense in the deal, they’ll fund it.
How do I start?
Drop us a line here, and we’ll be in touch :)
Disclaimer: The content of this article is general in nature and is presented for informative purposes. It is not intended to constitute financial advice, whether general or personal nor is it intended to imply any recommendation or opinion about a financial product. It does not take into consideration your personal situation and may not be relevant to circumstances. Before taking any action, consider your own particular circumstances and seek professional advice. This content is protected by copyright laws and various other intellectual property laws. It is not to be modified, reproduced or republished without prior written consent.