Business loans for South West Sydney owners
Growing, hiring or smoothing out cash flow? We'll help Bankstown & South West Sydney business owners find the right business loan.
Your business has plans. Let's find the funding to match.
Running a business means opportunities and expenses rarely arrive on schedule. A new contract, a fit-out, a slow-paying customer - sometimes you need funding that moves as fast as you do.
At Infinity Mortgage Brokers, we help business owners across Bankstown and South West Sydney work out what kind of finance actually fits, then find a lender to match.
What kind of business loan do I need?
Business lending isn't one product. The right choice depends on what the money is for and how you'll repay it. Options include:
- Term loans for growth, fit-outs or buying a business
- Overdrafts and lines of credit to smooth out cash flow
- Invoice finance to release cash tied up in unpaid invoices
- Equipment and vehicle finance secured by the asset
- Loans secured by property for larger amounts and longer terms
We'll start with your goals and your numbers, then compare lenders to find a structure that suits your business.
Does the type of loan really matter?
It does. Using short-term finance for a long-term asset can squeeze your cash flow. Putting your home up as security when you didn't need to can limit your options later.
Getting the structure right from the start saves money and stress - and makes it easier to borrow again when the next opportunity comes along.
How Infinity Mortgage Brokers can help
We know South West Sydney is full of hard-working family businesses, from shopfronts in Bankstown to workshops in Milperra. We'll give you straight answers and do the legwork. Here's what you get with us:
- A clear explanation of your options, secured and unsecured
- Help preparing financials and documents lenders want to see
- A comparison of lenders on rate, terms and speed
- Coordination with your accountant
- One point of contact from application to funding
No runaround. Just practical help from a broker who understands small business.
Got plans for your business?
Let's chat! Schedule a free introductory call with us now.
What types of business loans are available in South West Sydney?
Businesses in South West Sydney can choose from six main types of business loan. The right one depends on what the money is for and how it will be repaid.
• Term loans, a fixed amount repaid over an agreed period, for growth, fitouts or buying a business
• Overdrafts and lines of credit, which you draw and repay as cash flow rises and falls
• Invoice finance, which releases cash tied up in unpaid invoices
• Equipment and vehicle finance, secured by the asset you are buying
• Trade finance, which pays suppliers before your stock arrives
• Commercial property loans, for purchasing your premises
Matching the product to the purpose
Funding a long life asset with a short term facility strains cash flow. Offering property as security when the facility never needed it limits your options later.
A local example
Invoice finance often suits the transport operators and subcontractors around Moorebank, Milperra and Chipping Norton who wait 30 to 60 days to be paid.
Where to start
Infinity Mortgage Brokers begins with the purpose and the repayment source, then chooses the facility and lender to suit. If you also want to buy a home, see our self employed home loans service.
What documents do lenders need for a business loan application?
For a business loan application, lenders generally need two years of financials, the directors' tax returns, recent bank statements and a current view of your tax position. A fully documented application includes:
• Business tax returns and financial statements for the last two years, with profit and loss and balance sheet
• Personal tax returns and ATO notices of assessment for each director
• Business bank statements, generally the last six to twelve months
• An ATO integrated client account statement showing any tax owing
• Aged receivables and payables reports
• A schedule of current business and personal debts
• ABN and ACN details, plus the trust deed or company constitution if relevant
When less is required
For smaller amounts, some lenders assess on bank statements and ABN history alone. Approval is quicker and the paperwork lighter, but the rate is normally higher. The approach mirrors our guide to low doc home loans.
The usual cause of delay
Stale figures slow most applications. If your last financial year closed more than a few months ago, ask your accountant for interim management accounts.
Getting the file right
Infinity Mortgage Brokers reviews the documents for Bankstown business owners before anything is lodged, so the lender receives a complete file the first time.
Does a business loan have to be secured against property?
No, a business loan does not have to be secured against property. Plenty of business lending is unsecured or secured by business assets, although property security earns the best rates and terms.
With property security
Because real estate covers the lender's risk, you get the lowest rates, the longest terms and the largest limits. The security can be a home or commercial premises you already own.
Without security
Lenders rely on your trading history and bank statement data. Decisions can come within days. Expect a shorter term, a smaller limit, a higher rate, and repayments that may be collected weekly or even daily.
In between
A facility can be secured over equipment, receivables or the whole business through a general security agreement. Whatever the structure, directors are almost always asked for a personal guarantee.
Our view on the family home
Offer it only when the saving is real and the repayment plan is sound. Infinity Mortgage Brokers puts a dollar figure on the difference between secured and unsecured options for South West Sydney business owners. If you do use home equity, see how to access the equity in your home.
How fast can a business loan be approved?
A business loan can be approved in one to two days for unsecured lending, or four to six weeks when the loan is secured by property. The type of facility sets the pace.
Approvals in days
Unsecured lenders that assess from bank statement data can approve in 24 to 48 hours and pay out shortly after. Finance for a standard vehicle or piece of equipment, for an established business, can settle inside a week.
Approvals in weeks
Lending secured by property takes longer because the lender reviews full financials, values the security and takes the deal through credit. Multiple properties or complex ownership structures add time.
How to speed it up
Lodge a complete file. Up to date financials, a clean ATO account and tidy bank statements matter most. Add a short written summary of what the money is for and how it will be repaid.
Working to a deadline
If you have a settlement, contract deadline or delivery date, tell Dimitri at Infinity Mortgage Brokers on day one. We shortlist lenders for Bankstown businesses by turnaround as well as cost. Book a free chat to get started.
