Broc Finance

  One of the significant hurdles on your path to a business loan is getting approval from the lender. You have to convince the lender that you are capable of making good use of the loan and repaying on time. As easy as it might sound, the actual process is daunting. The lender will go through your financial statements and details, and assess multiple factors before approving your loan, especially if you are applying for unsecured business loans. We will get into all that in this blog, so let’s get going.    Factors that Influence the Lender’s Approval for Unsecured Business Loans Gaining approval from lenders can be stressful if you own a small business. Hopefully, the pointers below will give you some direction into what you can expect from a lender. Refer below to learn how lenders assess your application for  unsecured business loans .   Ability to Repay the Loan The lender will assess your credit score and your company’s. The personal credit sco...

The recent jump in the cash rate has got all the small business owners scratching their heads about how it impacts their cash flow and prospects of getting a loan and running the business. People are confused as they  compare business loan  rates to what they were before. We have received an unprecedented number of inquiries, which led us to write this blog about the RBA’s announcement of the cash rate hike and how it affects present and future business strategizing.    RBA Increases the Cash Rate Things have not been the same since 2021. The world was already grappling with the aftermath of the pandemic, rebuilding businesses and infrastructure to make it future ready. If that was not enough, earlier this year the Russia-Ukraine war initiated a chain reaction in the global trade arena, shooting up the inflation rates all over including Australia.  As a way to cope with the scenario, the Reserve Bank of Australia increased the cash rate by 2.75 basis p...

  The holiday season is a boon to business owners who can optimise their cash flow and cater to the demand! Businesses need adequate cash to keep pace with this demand by stocking up on inventory and hiring more staff. During the holiday season, a loan instalment can be an added burden on business owners. It can reduce the cash flow buffer and stretch their resources at a critical time. In such a scenario, a repayment holiday on their business loans can help them defer the instalments. Did you know that there is a special offer for businesses to get an 8-week repayment holiday during the end-of-year festive season? Let’s break down what a repayment holiday means and how it helps businesses.   Repayment Holiday for Business Loans: What Does it Mean? A repayment holiday is a short-term break when you do not have to pay the instalments for your loan. Borrowers have to pay contractually stipulated instalments regularly to repay their loans. They usually have to make these re...

  The holiday season is crucial for small businesses in Australia. As customers flock to stores and local services, business owners must prepare according to the demand. In 2022, Australian customers will potentially spend about $64 billion on pre-Christmas shopping. This number indicates the overwhelming demand businesses have to deal with this year. How do get set for this season? From spending on marketing activities to stocking up on inventory, there are multiple expenditures during this time. A small business loan can help your firm prepare for this promising period. Let's understand how you can leverage this financing avenue to jumpstart your business prospects this Christmas season!   What Expenses Can You Cover with Small Business Loans? Business owners must tighten their control over multiple operational areas in preparation for the much-awaited holiday season. They need liquid capital to tackle these needs. The following are some areas where you might need to ...