Broc Finance

  Entrepreneurs often rely on loans to grow and manage their ventures. Business loans infuse SMEs with funds, allowing them to undertake urgent expenses and critical investments. Your choice of a business loan can influence the long-term financial health of your organisation. That is why it is imperative to compare business loans and understand your options before finalising the agreement. Secured and unsecured business loans represent two broad categories of enterprise loans available in Australia. Let's break down what they mean and how you can choose the most suitable funding solution to fit the needs of your firm!   Secured Business Loans: What Are They? A secured business loan involves the submission of security or collateral. When you take this loan, you have to offer a valuable asset to cover the risks borne by your lender. You can use any asset for this: vehicle, real estate, equipment etc. The loan agreement of a secured business loan states that the debtor wil...

  The demand for business loans in Australia has remained high with post-Covid recovery and a strong economic climate for SMEs. More and more business owners are exploring credit instruments to fund their operations and grow their businesses. If you are looking at your business loan options, you are probably comparing them by their interest rates. However, as experts will tell you, this approach is not enough. You need to analyse your interest rates in greater detail to uncover the best value while looking for loans. Whether you want short-term business loans or long-term financing, understanding your loan costs is essential for making the right choice. Let's discuss how you can get the best value from your business loan!   Understanding Your Business Loan Interest Rate: Factors That Influence It The lender charges an interest rate based on several factors. Here are the top aspects that play a role in determining your interest rate: ●       Sec...

  Business loans can offer support for expanding your business and growing your profits. However, as your business evolves, you may want to explore new loan terms that fit your situation better than an older arrangement. Often, business owners opt for quick business loans to manage urgent expenditures. Later, when the business circumstances change, they want to switch to different loan contracts to reflect their new positions. Business loan refinancing can often help you achieve these changes! Let’s analyse how business loan refinancing works and what you need to know.   Business Loan Refinancing: What It Means Refinancing involves getting a new debt facility to pay off your current business loan. This process allows you to transition into a more favourable loan arrangement. After servicing your existing debt for some time, you can explore new loan contracts with your current lender or a new one.   Advantages of Refinancing Your Business Loan Refinancing, when pu...

  Business loans play an instrumental role in navigating business expenses and investments for the future. If you are a small business owner, chances are you have borrowed funds or considered taking a loan. However, many business owners do not know they can claim tax deductions on expenses associated with their business loans. Credit options like Business loans, Assets & equipment finance can help you fund legitimate business activities. When you incur costs on such a source of finance, you can claim deductions on the same. Let's break down what the tax rules say about expense claims for business loans and what you should do!   Tax Governance For Your Business: Guidelines From The Australian Taxation Office (ATO) The ATO has laid down essential guidelines for small businesses and how they manage their debts. The following points highlight some of the key things to keep in mind: ●       Loan Contract : You should have a legally-binding contr...