Business Finance FAQs - ADVANCE FINANCE - Business Loans, Personal Loans, Home loans and Asset Finance
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Frequently Asked Questions

Secured finance

Firstly, we believe it is a privilege to assist you with your finance requirements, a privilege we do not take lightly, we therefore take the time to understand your business, your business needs and the desired outcome. 

With your objectives in mind we sort through the myriad of finance solutions, offer our recommendation, liaise with the funder, guide you through the documentation process and ensure settlement is timely. Post settlement, we will be there with you, whenever needed.

With a secured business loan collateral is always required. As a general rule, up to 80% of the value of a property can be utilised. By offering collateral, you are providing to the lender the right to foreclose on your property in the event that you cannot repay the loan. Lenders may consider other forms of security such as a Personal Guarantees or a General Security Agreement (GSA) over your business assets. 

  • A good credit score is essential, as is good conduct of your business accounts. 
  • Generally your business would have been trading profitably for over two years and have no ATO debt.  
  • Current business plan.
  • Cash flow forecast.
  •  2 years financials and tax returns for the business entity.
  •  2 years personal tax returns for all directors and coinciding tax assessment notices.
  •  6 months business and personal bank statements.
  • GST lodgement reports.
  • ATO portals for the last 12 months.
  • Proof of identity. 

If all your documentation is readily available then the process could take around 6 weeks before any funds are distributed. For more complex applications it could take in excess of 3 months. 

A secured loan will generally have a more competitive interest rate because the bank has less risk, and can collect the collateral if you default on your agreed payments. The term of the loan is generally longer for a secured facility than for other types of loans. 

Unsecured finance

Firstly, we believe it is a privilege to assist you with your finance requirements, a privilege we do not take lightly, we therefore take the time to understand your business, your business needs and the desired outcome. 

Your business needs are far too important to trust a website comparison tool. Open and honest discussion will provide us with an insight into what financing is best suited for your current circumstances. This will allow our team to recommend the correct solution with a suitable funder, that will meet your specific requirements.    

With your objectives in mind we sort through the myriad of finance solutions, offer our recommendation, liaise with the funder, guide you through the documentation and ensure settlement is timely. Post settlement, we will be there with you, whenever needed. 

Our service is completely free for our customers. We are paid by the funder when the loan is settled. The interest rate is not affected by the commission paid to us and our involvement does not affect the fees charged for the loan facility.  These will be the same as if you applied directly to the lender. The difference is, we are with you throughout the whole process and into the future.  

Our initial contact is made within 4 hours of us receiving your request. We then research, analyse and find the right product and funder. We endeavour to have this information to you within business hours. During this time, we correspond with you for required documentation. Once we have all we need, a recommendation will be emailed to you. On acceptance, funding will normally be received within 48 hours. Some urgent funding can be completed in as little as 24 hours. 

Generally with loans up to $150,000 a lender will not require any collateral. For facilities over $150,000 lenders may require some form of collateral, normally in the way of a second mortgage over property or a General Security Agreement (GSA) over your business. All details will be disclosed in our recommendation. 

Unsecured business loans are solely for business purposes. As long as the funds are utilised for the benefit of your business, most lenders are flexible with how the funds are used. It is your business, so you know best.   

A secured loan will utilise collateral which is normally the family home or other property. If payments are in default your home can be placed in jeopardy. Unsecured loans are not secured by property and therefore the level of risk is significantly higher which will be reflected in the interest rate charged. 

Your business must have been in operation for 6 months with a minimum turnover of $50,000  You will need to show your ability to repay the debt and that you have a good credit history. 

In most instances there will be an establishment fee however with some lenders this may be waived. The fee can be deducted from settlement funds so that no money is required upfront. Interest rates are dependent on the product, loan term, credit score, business trading history and business owner. As a guide rates vary between 9.90% to 29.95%. (That is why you need us on your side, so we can negotiate for you). 

Invoice financing

Firstly, we believe it is a privilege to assist you with your finance requirements, a privilege we do not take lightly. Therefore we take the time to understand your business, your business needs and desired outcome. 

With your objectives in mind we sort through the myriad of finance solutions, offer our recommendation, liaise with the funder, guide you through the documentation process and ensure settlement is timely. Post settlement, we will be there with you, whenever needed.

Unlike more traditional loans requiring property collateral or weekly repayments, invoice financing uses your unpaid invoices as collateral. The security utilised are the invoices, money owed to you from the products or services that you have already provided. 

Once we have researched and located the right funder for your business needs, the process is relatively short as most documentation is accessible through your cloud-based accounting software. As with any lender paperwork needs to be finalized after your approval, so allow around 2 weeks.  

Funding can be as quick as 24 hours after receiving the invoice/s. 

All funders have different guidelines and processes, however generally 80% to 95% of the value of the outstanding invoices can be funded. 

Your business needs to trade business to business. Supplying goods or services on trade terms. Ideally your minimum debtor’s ledger would be around $50,000 a month and your business would be trading profitably.  

Once off establishment fees, ongoing fees and interest rates vary depending on the type of facility chosen, this is why we offer a no obligation service and provide you with options. Refer to our online calculator for more information. 

Included in many funding offers is the option to insure your debtors, so if they do not pay you do not lose the money owed to you. 

Our focus is on your business growth. However, you can use the funds as you wish. Perhaps to meet your payroll obligations, for expansion purposes, to take advantage of supplier discounts, reduce financial stress – any number of reasons. 

Why us?

Assisting you is a privilege, a privilege we don’t take lightly

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Approachable

We are easy to talk to and easier to connect with. Ideas, scenarios and information, we’re ready to listen. We strive to understand your vision whether it be for family lifestyle or business growth.

Professional

Experience does count and we have it, awards too. We are experts in financial solutions. Let us search through the maze of lenders to provide you with the right solution.

Dependable

Our team are reliable, trustworthy and can be counted on. Our objective is for long and enriching relationships. We are with you now, and into the future.

Approachable

We are easy to talk to and connect with.  If you have an idea or scenario, we’re ready to listen. We strive to understand your vision, whether it be for business growth or family lifestyle.

Professional

Experience does count and we have it, awards too. We are experts in financial solutions. Let us search through the maze of lenders to provide you with the right solution.

Dependable

Our team are reliable, trustworthy and can be counted on. Our objective is to create long and enriching relationships with our clients. We will be with you now, and into the future.

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19+ years

Experience

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$550 million+

Settled Loans

5/5

5 Star Reviews

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100%

Commitment to you

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