While 2020 was a year most just want to forget and move on, it appears it won't be quite as simple as flipping the calendar to a new month. The coronavirus is still lurking in some locations, the threat of a cluster outbreak is very real, borders are on a revolving open-shut cycle and complete vaccination of the population is quite some way off. So it appears businesses are going to have to continue with the versatile, adaptable and flexible attitude they adopted to navigate the COVID-19 challenges of 2021 into 2021.
How individual businesses bounce back from 2020 into prosperity and growth in 2021 may be even more significant than how they dealt with the challenges initially presented by COVID throughout 2020. Finance is essential to many businesses and your approach to your business finance may be key to your success in 2021 and beyond.
At Jade Finance we are committed to working with all types of businesses – from the smallest sole traders and owner operators to the largest corporations – to provide cost-effective finance solutions to not only support the business but to contribute to growth and productivity.
Take a Broader ‘Lenderscape’ View
When you’re focussing closely on your specific business and all the small aspects that can have a big impact, don’t use that same narrow viewpoint when assessing your finance requirements. In simple terms, if you’ve always just contacted the bank for finance, don’t limit your finance options to just that bank or just any bank. Through Jade we give you a panoramic view of the ‘lendingscape’.
The major banks are only one part of the very extensive business finance market in Australia. There is a large number of non-bank lenders, some that specialise in particular industries or particular sectors that can be highly flexible with loan offers.
Taking a broader view of the lenderscape doesn’t require a lot of effort or time. In fact, it takes less time. Using a broker style lender such as Jade Finance provides you direct access to many lenders and opens the doors to our industry-only sources.
Jade is accredited with both major banks and non-bank lenders so we can source the cheapest option from a vast selection in the lending market.
Consider all Product Options
If you’ve always opted for the same loan product every time you’ve needed a business loan, then perhaps it’s time to consider more of what is on offer. As part of the Federal Budget, the Australian government introduced a number of measures, most associated with asset depreciation. In order to take advantage of these measures a business would need to select the appropriate finance product. For example in the case of Instant Asset Write-Off and temporary full expensing that would mean purchasing the equipment with a Chattel Mortgage.
Jade offers the full scope of business lending products – Leasing, business car finance, Chattel Mortgage, CHP, Rent to Own and Novated Car Leasing – for you to consider. Have the conversation with your accountant around which loan will deliver the most effective outcome for your business.
Take Advantage of Low Interest Rates
Interest rates across all lending sectors are currently at historic low levels. These rates are expected to remain low at the moment. Taking advantage of this situation by investing in new business vehicles, trucks and equipment now will provide you repayments at those low rates for the full term of the loan. So putting off those investment decisions to a future time may result in a loan at a higher rate.
Jade Finance provides business finance for acquisitions at fixed interest rates with fixed loan terms and fixed repayments. So a finance contract arranged now will remain in place and the same for all the years of the loan term.
Address Specific Issues with Specific Solutions
Not all business finance requirements relate to the acquisition of goods such as vehicles and equipment. Some businesses need finance to meet specific issues. Jade Finance is a broad-based lender offering finance solutions beyond asset acquisition.
If you require finance for short-term cash flow shortages and the bank is unable to assist you, speak with us about our Lender Overdraft product. This operates in a similar way as a bank overdraft but is established through a non-bank lender.
If perhaps you face huge insurance premiums on some of your policies and finding the funds to pay the premium, we offer Insurance Premium Funding. This allows finance to pay insurance premiums in several instalments rather than one payment.
Another major issue for many businesses, especially SMEs, is getting payment from your customers. We have a solution which may suit you – Debtor Invoice Funding. Speak with one of our consultants about how this works and if it may be a solution to an ongoing problem for you.
For many other general business requirements, Jade Finance provides both secured and unsecured business loan for a range of purposes.
To discuss finance for your business challenges, contact Jade Finance for an obligation-free discussion. Call 1300 000 008
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