Broc Finance

  Every business strive to grow and need finance from time to time for capex or working capital purpose. For this, they require financing options. The conventional way would be to go to a bank or any other traditional financing institution. But there is a drawback! Traditional financing has stringent assessment criteria and requirements which may all the businesses may not be eligible, especially small businesses.   Owing to this, business owners are now exploring alternatives for securing the finances needed to help their businesses prosper. This is where commercial financial brokers come into play. A commercial finance broker has access to multiple bank and private lenders offering a suite of business loan options to get the right solution for your business. Here we present three reasons why choosing a commercial finance broker is beneficial for you rather than directly going to the lender.   1. The perfect match - In the world of finance, there is no “one fit suit...

  Documentation is one of the crucial aspects of loan approval. People unable to provide the necessary documents can get a rejection on their loan applications. But that’s the traditional way. If you approach financing options through a finance broker, even with minimal documentation you can access easy financing solutions.  Low doc business loans  are very much a reality; maybe not in traditional banking, but you can acquire funding through a finance broker from a private lender.   Understanding Low Doc Business Loans From sole traders and proprietors to SMEs, anyone can apply for low doc loans. If you are a business owner in urgent need for financing, you can apply for it, especially if you have existing documentation constraints. When you are busy expanding your venture it can be hard to keep track of all the financials. For new businesses, it is even stricter since they have not been trading for long. In these circumstances when you are in a tight spot du...

  Cash flow deficiency is one of the primary reasons enterprises go out of business in Australia.  In 2019, a  study  showed more than 51% of the companies went under due to poor cash flow within that fiscal . This is a significant concern for business owners, striving tooth and nail to maintain business continuity, keep it afloat and ensure consistent profit generation. However, even with the best of efforts, things can go south ways, especially for the SMEs, since most have financial constraints. In such extreme but unavoidable situations, the business owner can seek relief in  debt factoring .     Understanding the Concept of Debt Factoring When all doors to cash improvement get shut, debt factoring comes into play as your financial saviour. Many business owners confuse it with debtor’s finance, but they are not the same. Debt factoring or factoring receivables is a business financing that allows you to sell your pending or outstanding invoices ...

  Business vehicle finance ; the term itself is self-explanatory. It’s the business financing solution you acquire to buy a vehicle that you will mostly use for your business and related purposes. Enterprises that require vehicle support to execute operations or boost sales apply for this loan when they fall short of finances to buy it upfront. Business vehicle finance is not a simple car loan. It is an investment towards the growth and development of the company; an expansion strategy.    Although a common form of business financing, one might have queries when applying for the first time. So, let’s get all your inquiries answered through this write-up.    1. What are the different types of business vehicle finance? There is a variety of business vehicle finance under the commercial loan section. ·         Chattel Mortgage : It is the most common type of business car loan where the borrower gets ownership of the ve...