It can be quite difficult to secure business finance. This is even more so because business loans are all assessed case by case.
We’ve put together a comprehensive list of resources so it’s easier for you to learn about business finance and how you can qualify.
Business finance calculators
LVR calculator: Find out how lenders calculate the Loan to Value Ratio (LVR) with your security property.
Credit score calculator: Will you be considered a high risk by the lenders?
BAS income calculator: Get an estimate on your Business Activity Statement (BAS) income.
Self employed income calculator: Our online self employed income calculator can help you get an estimate on income if you’re self employed.
Postcode location calculator: Which locations do lenders consider high risk? Find out how lenders will assess your security property.
More calculators: Check out our other mortgage calculators so you can make an informed business finance decision.
Basic business loan concepts
Business loan interest rates: What are the current business loan interest rates on offer?
Business loan covenants: How you can avoid covenant reporting imposed by your bank.
Business equity loan: Why do many people use residential property as security on a business loan?
What is credit scoring?: Find out how it can change the way lenders assess your business finance application.
Business loan with a guarantor: Borrow up to 100% of the costs without a deposit.
Refinancing a business loan: Find out what it takes to refinance a business loan.
Business valuation: Will the bank always do a business valuation when you apply for a loan?
Major business loans
Agribusiness loans: Also called farm loans, farmer loans or agricultural loans.
Equipment finance business loans: What business equipment can I get financed?
Factoring for small businesses: Small-to-medium (SME) businesses turn towards this common form of debtor finance. Find out why.
Invoice discounting: How is this different from factoring? What are the qualifying criteria?
Low doc business loans: How much can you borrow on a low doc business loan?
No doc business loans: Are no doc business loan available?
Business loan documents
Business loan proposal: What should you include in a business proposal and how can you make it effective?
Business loan agreement: How does a business loan term sheet work?
Bank statements and transaction histories: Proving your business income using bank statements and transaction histories.
Tax returns: Using tax returns to help you secure business finance.
Statutory declaration: Some lenders may need you to provide a statutory declaration. What must it contain?
Business structure
Sole trader business structure: How does a sole trader business structure work?
Partnership business structure: How does a partnership business structure work?
Company business structure: What is a company business structure?
Trust business structure: Why set up a business trust structure
Choosing a business structure: Who should own your business?
Setting up a business practice
Medical practice loan: How much can I borrow?
Dental practice loan: How do I qualify?
Physiotherapy practice loan: Why should I just ask my bank?
Veterinary practice loan: What are lenders offering?
Business finance FAQs
Acceptable security properties for a low doc business loan
When it comes to business finance, there are many properties that lenders tend to reject. This is even more so the case for low doc business loans.
Generally, your security property will likely be accepted as long as it:
- Is in good condition,
- Is in a good location such as a regional centre,
- Has a wide appeal, and
- Is not a specialised property such as a child care centre.
Note that if your security property is a unit, it may have to be larger than 50m2.
How long can I fix my interest rate on a business loan?
You can fix your business loan interest rate for up to five years. However, some lenders may be able to extend this term up to another five years. Please note that this depends on your situation and repayment history though.
What features are available on business loans?
Almost all standard home loan features are available on business loans. This means you can take full advantage of line of credit (LOC), professional packages, overdraft facilities and offset accounts.
However, please note that you’ll have to pay for some of these features. To avoid paying more than you need to, get only those features that you’ll be using.
Are bad credit business loans available?
Bad credit business loans are available. However, you’ll find it quite difficult to qualify. This is because only a handful of lenders offer this and the lending policy is tough.
You must be a really strong business and have an acceptable security property. You’ll also likely need to have a substantial amount of equity.
Take the help of a mortgage broker!
We have mortgage brokers who specialise in business loans. We can help you create a strong application and apply for business finance with a more flexible lender.
You can discuss your situation with one of our credit specialists by calling us on 1300 889 743. If you want one of us to contact you instead, you can simply complete our free online assessment form.