Gov-backed Unsecured Business Loans…

When it comes to business, cash is king…

Based on estimates almost 240,000 Australian businesses are at risk of failing because of the current COVID Recession.#

Further to that, 30% of small businesses and 24% of medium businesses have less than 3 months in cash reserves.

As businesses continue to pivot in these challenging market conditions, many are looking to sure-up their working capital position with an unsecured business loan – before these loans become too challenging to arrange.

Getting an Unsecured Business Loan

Thanks to the Coronavirus SME Guarantee Scheme, we’re now able to help businesses access government-backed working capital solutions up to $250,000.

All facilities are unsecured, with no repayments for 6 months [interest capitalised] and loan terms of up to 3 years – giving business owners choice, certainty, and access to capital during this difficult period.

What you can use the funds for;

  • Asset purchases
  • General working capital and liquidity
  • Marketing or advertising expenses
  • Pay invoices, rent and operating expenditure
  • Pay staff wages or hiring costs
  • Project/job funding
  • Purchase stock and inventory
  • Payment of ATO debt considered

Product Features;

  • Borrow up to $250,000
  • Low Doc! No financials up to $150,000 [Bank Statements only]
  • No minimum payments for 6 months [interest capitalised]
  • Loan term up to 3 years or revolving
  • No ongoing monthly line fees or account keeping fees
  • Transact seamlessly via an online portal

3 Different Loan Options;

Working Capital Facility

  • Revolving facility, only pay interest for what you use after 6 months
  • Can be linked to any business transaction account
  • Only one annual fee of $395

Term Loan Facility

  • Receive a lump sum payment with an option for redraw available
  • No penalties for early repayment
  • Terms up to 3 years

Business Overdraft Facility

  • One lump sum payment made directly to your account
  • Redraw option is available
  • Terms up to 3 years

Loan Eligibility

  • ABN & GST registered for more than 12 months
  • Minimum annual turnover of $100,000
  • Minimum Equifax [Credit] score of 500

 

CASE STUDIES

Business Loan 1

  • Industry: Automotive electrical services
  • Requirement: Business overheads
  • Loan Amount: $100,000
  • Term: 24 months
  • Considerations: + Solid pre-COVID cashflow, + Strong credit score, − Significant impact since COVID with heavy reliance on overdraft

Business Loan 2

  • Industry: Wholesale trade / Computer peripheral
  • Requirement: Inventory
  • Loan Amount: $50,000 (split in 2 equal loan advances)
  • Term: 18 months
  • Considerations: + Returning client, + Diversified income sources, − 50% decrease in income post-COVID

Business Loan 3

  • Industry: Construction / Carpentry services
  • Requirement: Material purchase
  • Loan Amount: $170,000 (split in 2 equal loan advances)
  • Term: 24 months
  • Considerations: + Steady income throughout COVID period, − ATO debt on payment plan

 

GETTING STARTED

If you want to lock in funding for your business now is the time to act!

>> For more details and to apply visit XpressBusinessLoans.com.au

 

If you have any questions or are not sure where to start just hit reply or call 08 8451 1500 – we’re here to help!

Cheers,

Sam, Matt & Andy
Urbantech Group
>>  See all of our best home loan rates here + a lot more…

Source:
https://www.abc.net.au/news/2020-07-20/monday-finance-with-alan-kohler/12475160?nw=0

PS. COVID-19 Update – We’ve put together a simple resource to let you know of all the core lender changes and initiatives in response to COVID-19, along with a range of financial options and strategies for getting through this difficult time. To access this info click here




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Urbantech provides a complete service to build and protect your wealth; mortgage & finance broking, +plus a range of allied services. Simply put we'll make sure you get the best deal going. To get started today book in your FREE Finance & Wealth Evaluation or call us on 08 8451 1500

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