COMMERCIAL LOANS

If you have an idea in mind to, buy your own business (or land and business). But, you just don’t have enough cash on hand to finance your new business enterprise and you don’t know where to go to seek the right professional advice.

Well, you can relax and read this article. This article is specifically prepared to help you quickly and easily understand:

  • Where you can go to seek the required finance?
  • Whom to speak with to get the right professional advice? and
  • How a commercial loan from any of the mainstream banks or non-bank lenders can be an option worth considering?

COMMERCIAL LOANS

Seek Expert and Professional Advice

When seeking the right professional advice you should consider taking advantage of the professional advice and assistance that can be provided to you by Singh Finance. Our professionally qualified and licensed finance brokers have assisted numerous potential business owners and more importantly, they have the know-how and sound practical experience to help you in choosing the right finance arrangement that best suits your own unique needs and financial situation.

With access to a comprehensive panel of mainstream banks and non-bank lenders our expert finance brokers know what the specific lending requirements and guidelines are for getting a commercial loan and they can assist you in:

  • Determining if you have a good business plan?
  • Tailoring a complete commercial loan finance package that will meet your own individual needs and financial situation;
  • Presenting your commercial loan finance application to the lender/credit provider for approval.
  • Determining if you have a good credit history?

Write a Good Business Plan

When deciding to apply for a commercial loan, it is essential to prepare a good business plan. You will find that your chances of securing a commercial loan will be greatly improved if you have a strong well-thought-out business plan. Our expert finance brokers will help you in preparing your business plan. Your business plan should include a number of key factors such as:

  • Your business's structure;
  • A broad overview of your business's goals and objectives;
  • Your profit and loss projections and cash flow forecasts of your business;
  • Your past and future plans for your business;
  • Your marketing strategy; and
  • Details of products or services your business provide.

To help you in preparing your own business plan and to identify the required business plan outline, you can simply click on our handy business plan template.

Decisions to Make

There are a number of things you need to consider before getting a commercial loan. For example you need to:

  • Determine how much do you need to borrow? You can use our handy borrowing power calculator to help you to determine how much you can borrow?
  • Determine how long you will need the commercial loan for (i.e. your required loan term)?
  • Determine what type of property (called security or collateral) that you may be required to put up. For example, a lender/credit provider may take a second mortgage or deed of trust on your house, or ask for a security interest or lien on your business's equipment, inventory, or even shares in an existing business? and
  • Can your business afford to repay the commercial loan, interest, and any one-off, or ongoing fees that may come with the commercial loan

What Documents do you need to provide to the Lender/Credit Provider?

Your chances of securing a commercial loan will be greatly improved if you have all the documents in order, these include:

1. The current balance sheet of the business;

2. A full tax return for the business (less than 2 years old);

3. Profit and loss statements for the business (less than 2 years old);

4. Information about your personal assets and liabilities;

5. Forecasts of the expected profit and loss, and cash flows that you expect your business to achieve for the next two years(i.e. your business's cash flow projections will give the lenders/credit providers some evidence of concrete financial data that they can use to assess the level of risk and determine if your business will be able to repay their loan); and

6. Details of your qualifications and any experience you have in running a business.

Seek Expert and Professional Advice

The "principal" of the Singh Group of Companies, is a professionally qualified "public accountant", and an expert business and management consultant. In addition to holding an Economics degree, he has the designation and degree of the internationally recognized Institute of Public Accountants (IPA) and the Institute of Management Consultants (IMC).

Our principal is always willing and able to help you arrange a suitablecommercial loan finance arrangement to buy your business (or land and business). These may include but are not limited to buying a:

  • Child Care Centre;
  • Service Station;
  • Medical Centre and/or a Dental Centre;
  • Medical and Aged Care facility;
  • Pub, Club or Hotel;
  • Warehouse/Storage facility;
  • Transport business (i.e. buses and coaches and even small airplanes);
  • Supermarket business.

Contact Us Today

For any further information, you may require regarding our finance brokerage services, or for any of our other services. Please, call us on 0424 190 908 today or simply click on the "Enquire Online Now" by completing our "Contact Us form".