The coronavirus pandemic has impacted businesses across the globe, but for those here in Australia - there is help available.
Whether through government initiatives or business products from your lender, here is what you need to know if you're a business in need.
Are you loan ready?
Before looking into finance options, it's worth doing a quick audit of your business to see if there are any cost savings that might reduce your need for a loan.
What does your business' financial health look like? Is your paperwork in order? Be sure that you have all the documentation needed to minimise delays during application.
Don't go it alone
Just as businesses differ, so do the lending products available. Speaking to a broker is going to give you a better understanding of which solution may best suit your situation.
Whether you need a line of credit to draw on as needed, or are seeking unsecured options, loans come in many shapes and sizes. A broker has the knowledge and expertise to help you decipher which best suits your needs.
Assistance is available through various government schemes to support businesses to get back on their feet. The SME Guarantee Scheme, offered by select lenders including Liberty, has been extended to June 2021 to help eligible small businesses with their working capital needs.
To help with cashflow and promote job retention, the JobKeeper initiative for the self-employed and eligible employees has aso been extended - until March 2021.
From increasing asset write-offs and business investment incentives, you can find out more about these funding and support schemes on the government's coronavirus business support website.
Speak to an expert
Whether it's help with cashflow, funds for growth or business investment, talk to a Liberty Adviser to see what options could work for you.