Running and growing a business often requires reliable access to working capital. Uniko Capital helps Australian business owners, tradies, contractors, professionals, farmers and self-employed applicants explore business loan options for eligible business purposes, subject to lender criteria.
A business loan is about more than the advertised interest rate. Compare the total amount payable, fixed or variable pricing, loan term, establishment and ongoing fees, repayment frequency, security or personal guarantee requirements, early payout conditions and how the facility affects your cash flow. We explain these important points in plain language so you can make a more informed business decision.
From Mulgrave and South East Melbourne to Dandenong, Clayton, Springvale, Noble Park and Glen Waverley, our team can help you start a conversation about business finance Melbourne owners can understand. We also assist with enquiries from Victoria, regional Australia and businesses across Australia.
We start by understanding your funding purpose, amount, timeframe and repayment plan. We then discuss the information a lender may require and help you compare the finance structure before you decide whether to proceed.
We discuss your business, the funding purpose, amount needed, timing, cash flow cycle and whether the finance is for working capital, expansion or a specific opportunity.
We help you understand the rate, fees, repayments, security, facility limit and documents a lender may require before you decide to apply.
For business finance, the lender may consider the borrowing entity, ABN and time in business, turnover, profit, cash flow, existing commitments, credit history, bank conduct, industry, security and proposed repayment plan. Self-employed applicants may also be asked for tax returns, BAS, business financials and bank statements.
Review the interest rate, establishment fees, ongoing fees, loan term, repayment frequency, minimum repayments, security, personal guarantees and early payout or refinance terms before accepting an offer.
Have identification, ABN and entity documents, financial statements, tax returns, BAS, bank statements, asset and liability details, business plan, cash flow forecast and details of the funding purpose ready for lender assessment.
Budget for repayments as well as wages, rent, suppliers, insurance, utilities, tax and BAS obligations, stock, software, marketing and other ongoing operating costs.
Business loans can be structured differently for working capital, expansion, stock, trade finance, invoice finance, business acquisition, debt refinance and asset purchases. We can discuss secured and unsecured business loans, business lines of credit, overdrafts, invoice finance and other funding pathways, subject to lender policy.
Business owners should also consider the total cost of finance, GST and BAS timing, tax obligations, personal guarantees, security, debtor payment timing and the effect of repayments on working capital. Tax treatment depends on the product and business circumstances, so ask your registered tax adviser or accountant before signing.
A business loan is finance provided to an eligible business for purposes such as working capital, expansion, stock, equipment, acquisition, refinancing or cash flow support. It may be secured or unsecured depending on the product and lender.
Eligible purposes may include working capital, stock, marketing, wages, expansion, a business acquisition, franchise costs, debt refinance, trade finance, invoice finance or a business asset, subject to lender policy and responsible assessment.
A secured business loan uses an asset or other security to support the borrowing and may offer different pricing or limits. An unsecured loan does not use a specific asset as security, but the lender may assess business strength, cash flow, credit history and personal guarantees.
A business line of credit is a revolving facility up to an approved limit. You can draw funds when needed and generally pay interest on the amount used, subject to fees, terms and lender approval. It should be matched to an appropriate cash flow need.
Self-employed applicants and tradies may be able to apply, subject to lender policy. Lenders may review ABN history, BAS, tax returns, business financials, bank statements, existing debts, business experience and evidence of repayment capacity.
Some lenders may consider newer businesses, subject to their policy, security, director experience, forecasts, deposits, guarantees and evidence of a viable repayment plan. Approval is not automatic and terms may differ.
Business debt refinance may be available where a lender is satisfied with the business position, current debts, cash flow, security and repayment capacity. Compare all payout, establishment, broker, ongoing and early-exit costs before switching.
Common documents may include identification, ABN and entity details, financial statements, tax returns, BAS, bank statements, asset and liability details, business plan, cash flow forecast, invoices, contracts and details of proposed security.
Invoice finance uses eligible unpaid business invoices to help manage cash flow before customers pay. Costs, eligibility, debtor concentration, recourse and collection arrangements vary, so compare the facility carefully.
Contact the lender as soon as possible and ask about its assistance process. Do not wait for arrears to build up. Review the loan contract and seek qualified financial, legal or accounting advice about restructuring, refinancing or other options.