We hear you and we're right in the midst of it also. The COVID-19 scenario has been a nightmare on the health, social and business fronts globally. The situation has morphed from being 'unprecedented' (we've certainly heard that word enough in 2020) to being somewhat more 'unpredictable' with outbreaks of COVID-19 cases are popping up here and there. How long will it all last? We’ve heard ‘for some time’ all year but the ‘some’ doesn’t seem to be able to be quantified.
At Jade Finance we don’t want our customers to be left unprepared for business opportunities in 2021 through delaying, postponing and deferring plans due to COVID-19. The start of spring signals a time of regeneration and renewal and that doesn’t have to be confined to nature. Let’s take a look at your plans ‘moving forward’ and offer financial solutions to refresh your business.
A Whole-of-Business Approach
As a professional finance broker, Jade Finance is active in a wide range of finance areas. We’re not confined to providing finance for the acquisition of goods and assets – cars, trucks, equipment, machinery etc. We provide finance solutions in a number of different areas. This allows us the opportunity to work with individual clients in developing a ‘whole-of-a-business’ approach to their business finance. While our role is clearly differentiated from the role of your accountant, financial controller or financial advisor, we provide a range of finance services.
To be prepared for 2021 and implement your plans, now may be a good time to consider refinancing some of your current loans. The Reserve Bank has left interest rates at the current historic low level for some time and if you set up some of your finance deals a few years ago, at higher levels, it may be fortuitous to consider refinancing.
Jade Finance provides refinancing for a range of business loans including for truck loans, car finance and equipment finance. With some truck and equipment loans running over 7+ year loan terms, it is feasible that some businesses may currently be locked into a loan at a much higher interest rate than what Jade can currently achieve.
During the past few years you may have taken on a number of different loans and the multiple monthly repayments may be placing undue pressure on your cash flow. With the unpredictable nature of the current situation with COVID-19, it may be beneficial to roll a number of loans into the one and only have one monthly repayment to handle for the remainder of the loan term.
Your Jade consultant will discuss your requirements and source you a quote for a new finance deal on your existing loan or loans. When considering refinancing, the costs of paying out loans early and the fees and charges of setting up new loans needs to be considered in the overall package. If the resultant offer does not represent a beneficial outcome for your business, your Jade consultant will not advise you to proceed.
If you have loans that are approaching the end of the loan term, refinancing the residual/balloon/buyback may be a useful move rather than use your existing cash reserves for that purpose. In planning for the unpredictable, preserving cash reserves may be a good strategy.
Slow-Paying Customer Solutions
While taking a whole-of-business view of your business, identify the areas that may be a burden on the business. What’s holding you back? We see slow paying customers as a common pain-point for many businesses. If you’re constantly putting off your investment, acquisition and every day plans because you’re waiting for your customers to pay your invoices – Jade Finance may have a solution for you.
We provide Invoice Debtor Finance through non-bank lenders which is designed to ease cash flow pressures. The lender essentially takes on the debts at time of invoicing and you immediately receive a pre-arranged percentage of the invoice and the remainder at a pre-arranged time when the customer finalises the invoice with the lender. For more details, please refer to our web page or call us and discuss with one of our consultants.
Short-Term Cash Flow Solutions
If you’re consistently experiencing short term cash flow issues but you don’t meet the bank’s guidelines for a bank overdraft, Jade Finance may be able to assist with a similar overdraft facility through one of our non-bank lenders. This operates in the same way as a bank overdraft in that you have a set limit and only pay interest on the funds utilised. But the funding is provided by a lender that is not a bank. Sound like an option for you? Give us a call to discuss the details.
Solutions for Non-Goods/Asset Purchases
The majority of our business is in providing finance for the acquisition of goods and assets like business vehicles, trucks and all types of equipment. The loan types for these products involves the lender using the ‘goods’ as security against the loan. But businesses often need funds for purposes which are not suitable to use as security. This may be general operating funds to cover short falls, for things like training and other staff expenditure or a myriad of purposes.
A Jade Finance solution for this type of expenditure may be our Business Loans. These are available as either secured or unsecured and can be used for a range of purposes. Worth a conversation? Give us a call.
To get your business prepared to move forward in 2021, now could be the season to review and refresh your finances with solutions from Jade Finance. You’ll be assigned your own fully trained and highly experienced Jade consultant who will work through your requirements and deliver cost-effective solutions at, of course, our cheap interest rates.
To discuss how Jade Finance can assist you with financial solutions, please call us and start the conversation. Call 1300 000 008
DISCLAIMER: THE INFORMATION IN OUR ARTICLES IS PROVIDED FOR GENERAL INFORMATION PURPOSES AND IN NO WAY IS INTENDED AS THE SOLE SOURCE TO MAKE FINANCIAL DECISIONS OR AS ADVICE IN REGARD TO FINANCIAL INFORMATION. INDIVIDUALS ARE RECOMMENDED TO REFER TO THEIR FINANCIAL ADVISOR OR SEEK ADDITIONAL INDEPENDENT ADVICE IF THEY CONSIDER THEY REQUIRE SO. THE INFORMATION PRESENTED IN REGARD TO GOODS HAS BEEN SOURCED FROM MANUFACTURER AND SUPPLIER SOURCES AND IN REGARD TO GOVERNMENT AND ATO POLICIES AND PROGRAMS FROM RELIABLE SOURCES. NO LIABILITY IS ACCEPTED IF ERRORS HAVE BEEN MADE IN PRESENTING OR INTERPRETING THE INFORMATION AS PRESENTED