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  • Taking care of business (loans)

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    Australia was built by the hands of self-motivating entrepreneurs. Whether we’re talking about the Aboriginal people who created stone tools for hunting and cutting grain tens of thousands of years ago, or the European settlers who went from paupers to self-made men and women, our history is defined by self-starting achievement.

    The Australian Bureau of Statistics tells us just under 62 per cent of business running in June 2010 were still operating four years later.

    It’s only natural that Australians continue to carry on this tradition. According to the federal government’s Australian Small Business Key Statistics and Analysis for December 2012, it’s estimated there are more than 500,000 Australians engaged in starting a business at any given time. Our countrymen are clearly clamouring to be their own bosses.

    Many of these self-starters will end up taking out business loans to fund their venture, which can be perilous to their eventual success. We need to assist these entrepreneurs with unique mortgage solutions.

    What’s wrong with business loans?

    Nothing in theory. If you don’t have the capital to be the next Steve Jobs or Bill Gates, business finance is pretty crucial to helping you make what’s on the drawing board come to life. But how many recently started small businesses can you think of that aren’t playing rope-a-dope with their finances?

    Fighting business loan repayments is never fun.Fighting business loan repayments is never fun.

    Along with the various costs that come with starting a new business, a new debt nibbling at your neck can not only be stressful, but financially ruinous. For some, it’s not long before they’re covered in a heavy pile of bills and invoices.

    So what’s the solution?

    Business credit loans may be the answer

    With your regular, run-of-the-mill business loan, you’re borrowing money that you don’t have and banking on paying it back later. But what if you could take advantage of wealth you already had to fund your business, reducing your risk and making life easier on yourself?

    Your equity can do more than just fund your retirement.Your equity can do more than just fund your retirement.

    You might have guessed where we’re heading: That’s absolutely what you can do. A business credit loan lets you unlock the equity in your home to fund your entrepreneurial ambitions. If you’ve been a homeowner for a good while, working for the man every night and day, you’ve probably paid off a decent chunk of your home loan. You could have hundreds of thousands of dollars worth of equity in your home that you can use as a source of finance.

    Not only will you have greater piece of mind, knowing your loan is tied up in something tangible that you own, but it could also be more affordable. You’ll get the loan at the lower rate for mortgages.

    The Australian Bureau of Statistics tells us that only 62 per cent of business running in June 2010 were still operating four years later. Don’t be a part of that 38 per cent. Get a business credit loan and hand in your two weeks’ notice now.

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