When an individual has an ache or pain, they typically seek medical treatment. When planning marketing strategies, a business often starts by addressing the pain points of its customers. Identifying their problems and presenting specific goods and services to solve those issues. But in focussing on other people’s pains, do you spend enough time addressing the pinch points in your own business? Are you feeling the pinch?
Specifically, from our perspective as a lender, we’re talking about the financial pain points that are causing your company ongoing, intermittent or recurring grief. As with other aches and pains, there is treatment available for business pains or basic money worries.
As with personal aches and pains, there are specific treatments for different types of business ailments through a range of financial products. Prescribing or selecting the right loan solution can be pivotal in quickly, efficiently and cheaply resolving the pain so the business can trade productively and profitably.
Vehicles, machinery and equipment letting you down?
No longer fit for purpose? Need new or additional assets to suit the changes to your business? Ageing machinery constantly breaking down and causing delays in delivery to customers? Can’t expand into new markets because you don’t have the right equipment? Need a new truck to compete for better-priced contracts?
These types of pains are readily addressed with cheap finance to update and upgrade assets. Whether it is business vehicles, trucks, machinery or equipment, there is a range of loan types to finance asset acquisitions.
- Car Chattel Mortgage which is also called Heavy Vehicle Loan, Equipment Loan or Vehicle Loan by some banks and finance companies.
- Car Leasing or Finance Lease as it is also known.
- Rental or Rent to Own or Operating Lease for equipment and machinery.
- Commercial Hire Purchase or simply Hire Purchase.
In order to avoid ongoing pain, the most appropriate type of finance needs to be selected. The features of these finance facilities vary and the selection process involves matching your business needs and objectives in conjunction with assessing the asset being purchased with the most appropriate form of finance.
Key considerations include the accounting method used by the business; preference or not to have the asset entered on the balance sheet which refers to whether the lender or borrower actually retains ownership of the asset over the loan term; the preferred method for realising tax deductions and treating GST; and other issues. While your Jade Finance consultant will source and broker you the best finance deal, we recommend businesses refer to their accountant for the decision on loan product.
Feeling the pinch at the end of each month?
When bills are due at the end of the month and there’s not sufficient cash at the bank to meet the obligations it can be a major concern. Cash flow issues are probably one of the most common business finance issues, especially for small and medium businesses. Money worries are also a major cause of anxiety for business owners. If not addressed, this type of worry and anxiety can present the risk of developing into more serious mental health issues. For SME owners especially, finance issues can also be very personal.
Identifying and diagnosing the real pain point is the first step in assessing which particular finance facility offers the most effective solution. Clearly, there can be multiple reasons but one of the most common is slow-paying customers.
The finance solutions for cash flow issues include:
- Business Overdraft: this is a general all-purpose finance facility that we can establish through both bank and non-bank lenders on a short term or ongoing basis.
- Invoice Debtor Funding: this is a targeted measure where we arrange a finance deal with one of our non-bank lenders to fund your customer invoices. You receive an agreed percentage of the invoice at the time of issuing the bill and the balance through the lender when the customer pays the lender in full. The fees involved are cost-effective and we negotiated the cheapest interest rates available.
- Secured and Unsecured Business Loans can suit a wide range of non-asset acquiring purposes. If there is a specific expansion project which is required to increase turnover possibly. With our superior lending expertise, our consultant's source and structure finance to suit both the purpose and the business objectives.
Current loans squeezing the life out of your business?
Paying too much on current loans? Competitors always out-bidding you on tenders as your finance costs are too high? Refinancing existing finance commitments at better-priced loans at current cheaper interest rates could ease the squeeze. View our business loan interest rates to compare banks and lenders.
Interest rates are currently at historic low levels, making business finance more affordable than it has ever been. Speak with one of our consultants about the refinancing options available for you. Alternatively, feel free to use our chattel mortgage repayment calculator.
Don’t have time to address your finance options?
Time is the biggest pain for many business owners. Finding sufficient time to contact a number of banks and non-bank lending options to source the cheapest finance quote is one of the most common issues we hear from our customers. It’s also the easiest to solve – simply engage Jade Finance to handle that for you.
Easing the financial pains of business is our business and the individual needs of our customers are our top priority.
To discuss finance options to address your business pain points, contact 1300 000 008
DISCLAIMER: NO LIABILITY IS ACCEPTED IF ERRORS OR MISREPRESENTATIONS ARE FOUND IN THIS ARTICLE. THE ARTICLE IS PREPARED AND PRESENTED FOR GENERAL INFORMATIVE PURPOSES AND IS NOT INTENDED TO BE THE SOLE SOURCE OF INFORMATION FOR MAKING FINANCIAL DECISIONS. THOSE REQUIRING GUIDANCE AND ADVICE SHOULD CONSULT A FINANCIAL ADVISOR.