In the world of commercial finance, traditional lenders have had a monopoly for quite a long time. However, things are changing. Borrowers facing difficulty getting loans from these lenders are more open than ever to exploring alternative options.
And as inflation really starts to bite, small businesses who’ve never needed financial support are looking for fast finance. By understanding the alternative loan solutions available, a good broker can better help their clients unlock opportunities and achieve their financial goals.
Lost Opportunities
In an increasingly competitive market, businesses sometimes have no choice other than to rely on short or medium term loans to seize lucrative opportunities. Not to mention addressing urgent financial situations, such as a temporary cash flow issue, to keep the business operational and employees paid on time. As you’re no doubt aware, the strict eligibility criteria and lengthy approval process for most traditional lenders – still somewhere around six to eight weeks – can cause businesses to miss out on these opportunities.
Denied!
And what happens when those same lenders, after many weeks of waiting, deny the loan application anyway? This can lead to lost business projects, missed investments and a slowing down of any projected business growth. This is where commercial short and medium term business loans can save the day. These flexible loan options offer an alternate way to secure any necessary funding meaning small businesses don’t miss out on valuable opportunities.
If you can’t pay the taxman.
With EOFY just around the corner, the most recent news from the Australian Taxation Office (ATO) is that it’s cracking down on unpaid taxes. So if you, or one of your clients, took advantage of the ATO’s COVID support and are now having trouble paying it back on time – and want to avoid paying interest on the loan – Strive Financial can help.
How?
We can lend you the money you need to pay the company tax debt and bring the tax portal up to date. Keen to know more, keep reading here.
What’s so good about short or medium-term business loans?
Commercial short and medium-term business loans are intended to bridge the gap when you need the money fast. Just some of the advantages of these loans include:
- A simplified application process
- No credit checks
- Faster approvals – think 24 to 48 hours from lodging a loan application and having everything confirmed until the fund hit your client’s bank account
- More flexible eligibility criteria.
- Loan terms from a super quick four weeks to a long-term loan period of three years.
Opportunities for brokers to really help clients
Australian brokers have a brilliant opportunity to tap into these loan solutions, providing the kind of invaluable help their clients are unlikely to find elsewhere. Whether clients need the funds for working capital, covering unexpected expenses or grabbing time-sensitive opportunities, you can help them seize the moment or save the day. Catering to a wide range of borrowers, including those with less-than-perfect credit histories or limited security, brokers can partner with Strive Financial to find a commercial loan solution that works for their client – and for you. This lets you:
- Capitalise on our streamlined application processes and super-fast approval times.
- Save precious time for both you and your clients.
- Deliver what you promise – timely access to funds when they need it most.
- Establish a relationship with a commercial lender who specialises in commercial short and medium-term loans.
Lost opportunities can hinder growth and progress and you can play an important role helping clients access alternative financing options when they need it most. By understanding the benefits of these loans, you’ll be empowered to guide clients toward financial success, letting them take hold of the possibilities that lie ahead. For more info on being a Strive Financial partner, get in touch with us.