How Good is Your Business Credit Score?

Your business credit score reflects your firms’ responsibilities and values. While it’s easy to view money as something to hoard and churn out alone, your credit score however is also a symbol of your success. It signifies to others what you’re capable of, and what you may go on to achieve. If you need a loan from a bank, want to lease an office space or seek an investment, the business credit score is the data they’ll use to judge you to see if you’re worth their time and money.

Tips for boosting business credit score

The difficulties aren’t too far apart from the personal credit score, in the end.…

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6 Ways to Spend Your Business Loans

Before searching for lenders for your business loan, you need to first understand what you will use this money on. While a large cash lump sum may seem like just what your business needs, you need to approach your loan with caution. Without a proper plan on how you will use these funds you could suffer from irresponsible or even accidental overspending.

what to spend business loans on?

Business loans can help in every facet of your business from inventory to payroll and even helping your business with its prior debt. When thinking about how much capital you will need from your business loan take into consideration these seven ways you could put it to great use.…

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8 Common Mistakes People Make When Applying for a Business Loan

Starting your own business has never been an easy thing to do, as it brings a number of difficulties and challenges. All business owners have their ups and downs, some of them even having to find ways to avoid business bankruptcy.

One of the strategies that can help you get your business on its feet again is to get a small business loan. However, a lot of small business owners make mistakes that decrease their chances of getting a loan.

These are the 8 most common mistakes people make when applying for a business loan.

1. They don’t prepare to get a loan

A number of small business owners simply fail to prepare all the details before applying for a loan.…

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How to Maximise the Benefits of a Business Loan

With regard to managing small or startup businesses, there is a lot that a business loan can do for that process. However, applying for a loan isn’t something that you can take lightly. While you might have an idea of where and how you want to use your newly acquired resources, being efficient is essential if you’re going to make the most out of your easy business loans.

Business loans

It directly ties to the many legitimate reasons why you would want to apply for a loan in the first place. It’s all about taking advantage of the opportunities in front of you.…

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Expanding at a Cost: 3 Important Things to Know About Financing Equipment

Businesses need to grow, right? The entire reason for a business to exist is providing a needed service or product, so of course they need to grow! The problem is growth costs money, and money is finite. Some businesses have their cash tied up on things like inventory and running costs. So, what’s the solution?

Financing business equipment

The obvious one is a business loan. Taking out a business loan is a great way to provide funds for growth. The problem is that traditional loans are tied to your earnings, which could limit the amount available to you. That’s where your business assets can come in, with something called asset based lending.…

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Why it’s Crucial to Understand if Your Business can Afford a Business Loan

If your business is running low on cash, or if you’re keen to expand but don’t have the capital, a business loan can seem like the perfect answer.

Business loan

It’s true that a business loan can provide a valuable boost to working capital, especially if your income fluctuates. It can also enable you to pursue exciting growth opportunities.

And these days, getting a small business loan is much easier than it used to be. There is a booming alternative finance market in Australia, with a huge range of lenders eager to lend to small businesses. In fact, about half of Australia’s two million small businesses have a business loan facility other than a credit card.…

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4 Tactics For Winning Asset-based Business Loans

Whether you’re a start-up, limited liability corporation (LLC) or a sole proprietorship, an asset-based loan is key for expanding your company. These forms of loans are based on assets (such as inventory) that is used as collateral. You are essentially promising the bank/lender that your revenue will match (or surpass) their initial loan payment.

Asset-based business loans

If you have a few minutes, I’d like to share some insights for making sure lenders look favourably on you.

1. Stand Strong

Business partners, colleagues and even your friends may try to deter you from taking out an asset-based loan. Citing risks such as default payment, using the process as scare tactics or even losing your business.…

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How Does a Business Cash Advance Loan Work?

In recent times, Merchant Cash Advances (MCAs) have continued to grow in popularity. This loan product began as a solution to loan future sales of credit cards. It would later evolve into a solution that allows organizations to finance future sales of many other things. A business cash advance is probably the best way to define it. With this type of cash advance loan, you can sell off your future sales and get financed quickly.

Business loan

This is a short-term financial solution whose payback time occurs in months. The repayment process starts almost immediately. The lender can either choose a part of your continued sales or debit your business bank account on a daily basis.…

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Bad Credit Business Loans: 8 Warning Signs a Lender isn’t Right for You

Sometimes a business can just spiral out of control financially, despite all the owner’s best initial efforts. This is reality, as markets can dry up, or unexpected expenses hit and compound one after the other. Growth problems are another big reason for a business to become cash strapped — from buying property and equipment in anticipation of expansion that never takes place — to being over-run with expensive inventory you can’t sell.

Bad credit business loans - in AUD

Regardless your individual reasons, you now find yourself faced with a bad or poor credit rating and an uncertain financial future for your company, which you’re sure can be fixed with a bad credit loan.…

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Emergency Loan Options for Small Business Owners

In an ideal situation, your small business would generate enough money each month to pay the bills on time and to turn a sizable profit for you to live on. However, running a small business often is financially stressful, and things do not always go as planned.

Emergency loan

Sales may be slow for a few months, or you may have great sales, but your invoices may not be paid on time by your customers. Even when you are generating income, you may have unexpected bills this month that require immediate payment.

There are many situations when a small business owner may need access to extra cash quickly.…

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