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Commercial Funding
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What is Commercial Funding?
Entrepreneurs experience different stages of growth, but one thing is certain: most businesses benefit from the extra capital injection. Whether you’re planning for a business expansion or simply trying to navigate times of high uncertainty, our business loan specialists can help you find the financing solution that’s right for you.
Financing your business here in Australia isn’t necessarily about borrowing money, it’s more about investing in your future success.
At Intellichoice, we have access to financial institutions that primarily offer business loans that align with what your startup or SMB needs. Making the right choice regarding which lender and what product you choose is our goal when working with business owners.
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When Should You Opt for Commercial Funding
There are several reasons why your business may benefit from commercial funding. These include:
Want to know your commercial funding options?
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Extra capital to grow and expand: Commercial funding can be your much-needed financial boost to take on new projects, expand operations, acquire new equipment, or hire more employees. For example, your retail business could open to a new location, and the loan could cover costs of inventory, rent, and staffing.
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Can help build your business credit: Acquiring a commercial loan can help establish a positive track record and build your business credit, making it easier to secure future funding or loans. If you are diligent in repaying your commercial loan, it will demonstrate that you are a responsible borrower and potentially improve your credit score.
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Purchase new equipment, technology, or marketing: Every business will need additional tools to service more customers. Those who own a manufacturing business can purchase expensive machinery to improve production, eCommerce startups can invest in a digital marketing campaign, and so forth.
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Gives access to expert financial advice and support from lenders and advisors: Commercial funding lets you talk to the industry experts who can assist in making informed moves about your business. For instance, our advisors here at Intellichoice can structure your loan to improve profits and reduce expenses as much as possible.
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Cushion for periods of financial difficulty: Commercial funding helps your business stay afloat in unexpected, tough times. Recession, the recent pandemic, or market downturn that could cause drop in revenue could impact your business to the point of closure. Having funds can help cover your expenses until things pick up again.
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Purchase new equipment, technology, or marketing: Every business will need additional tools to service more customers. Those who own a manufacturing business can purchase expensive machinery to improve production, eCommerce startups can invest in a digital marketing campaign, and so forth.
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WE ARE TRUSTWORTHY
What’s Involved in Commercial Funding
Lenders want to make sure clients can repay the loan, so as a borrower, take note of these considerations:
- Be prepared for a financial review and credit check: Applying for a commercial loan means the lender will review your business records, including income statements, balance sheets, cash flow statements, invoices, and inventory to assess the business’s financial health.
- Find the right fit with lenders: It’s important to note that lenders have different levels of risk appetite and the industry they specialize in. For instance, some would lend to tech startups while excluding specific sectors. When deciding where to apply for your loan, these differences matter because a poor match could hurt your funding success.
- Don’t forget up-front fees: Depending on the package, lenders will charge Loan Approval fees, set-up costs, administration fees, government duties, and others. Working with a financial broker could help you choose exhaustively across lenders.
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What Intellichoice Can Do for You
While the lender has the final say in approving your loan, you play the most crucial role in making the financial commitment and following through with what’s best for your business.
If you decide on getting commercial funding to increase manpower, adopt new technology, buy a franchise, or have other growth goals, you’d want the fastest way to get there. Our expert brokers will be more than happy to assist you in your financing process. We can work with you to develop strategies and minimize rejection or issues with your loan.
Intellichoice has over two decades of experience to offer. We understand the ins and outs of how lenders operate, plus what type of parameters they seek in a commercial loan. Trust us to lend a helping hand when looking for a suitable lender with the best product type, rates, and fees.