14 Sep HAVE YOU CONSIDERED BORROWING AGAINST UNENCUMBERED EQUIPMENT

Do you really think that your 30 year business banker is going to risk the gold watch and wheelbarrow full of superannuation to help you through these difficult times.

Even with the COVID-19 support measures introduced by the Government and Banks, small business in Australia has struggled to secure finance needed to continue with the necessary cash flow to operate.

The business sensis index for August revealed one in four businesses ( 25%) had their loan applications declined over the past three months. Currently banks are taking a very conservative approach to funding businesses and loans for capital equipment such as trucks, excavators and equipment.

It appears regional businesses have been treated more harshly than those based in the cities, with 37% of business loan applicants in regional areas being declined. We currently have a situation where at a time when business critically need capital, they are unable to get it through traditional sources of funding.

The frustrating second wave of COVID-19 has caused some businesses back into lockdown while others are re-opening depending on what state of Australia you are based in. There are a number of non-bank lenders who appear to have a sound understanding of small businesses current borrowing requirements.

These private lenders are far more flexible with their lending policies and consider securities other than bricks and mortar. The types of alternative security they will consider are trucks,excavators and vehicles that are currently unencumbered or can be refinanced to free up the equity in the equipment.

Should you have needs for any of the following :

• Purchase equipment or goods that may not be suitable security
• Boost cash flow
• Fund expansion
• Consolidate Debt
• Or wish to discuss any possible requirement

FREE CALL : 1800 677 113

email : info@aussiecommercialfinance.com.au