Fuel for your business to grow

Fuel for your business to grow

Running a business is challenging but getting a loan doesn't need to be.

The most recent SME Growth Index discovered that one in five small businesses are experiencing cash flow issues due to business loan rejection. In fact, a lack of access to funding was the number one barrier to growth.

However, some lenders like Liberty are being proactive in helping small businesses secure finance. Here are some options to consider if you're in the market for a business loan.

Get ready

Before looking for a loan, you'll want to check your business accounts are in order. Lenders will want to review your business activity statements, previous tax returns as well as understand your overall asset and liability position.

Check your business bank statements carefully too – your lender will.

Another way to help get your loan application across the line is to check your business credit history is clean.

A question of security

Most lenders will seek mortgage security on your home for your business loan. This secured loan can allow you to borrow against your property’s value.

But if you don’t have property, or don’t have equity in your property, there are still options. Some free-thinking lenders, like Liberty, can assess your eligibility on the strength of your business instead.

Self-employed?

If you are running your own business a low-doc loan might also be a good option for you. These secured loans cater for borrowers who may not have all the paperwork that traditional lenders require but can still prove their income and creditworthiness.

Seek advice

To learn more about what the best business loan option might be for you, contact a Liberty Adviser today.

 

e-max.it: your social media marketing partner

Approved applicants only. Lending criteria apply. Fees and charges are payable. Copyright © 2019 All rights reserved | Liberty Network Services Pty Ltd (ABN 65 151 158 628/Australian Credit Licence 408042) (LNS) is a wholly-owned subsidiary of Liberty Financial Pty Ltd (ACN 077 248 983/Australian Credit Licence 286596). Liberty Network Services has access to products including those from Liberty Financial.