After a situation not seen since mid-2020 with several states in lockdown at the same time, the phrase ‘emerging from lockdown’ has entered the COVID conversation in daily reports. While the phrase, popular with the media and authorities, may give the connotation of a butterfly emerging beautifully and gracefully from a cocoon to flutter free, the reality can be far different. For many individuals, the situation is more like busting out after days or weeks under stay at home orders.
But for businesses, while with a sigh of relief, the process of closing and re-opening, shutting down and re-starting and constantly re-setting operational parameters with little forewarning can be, and has been, extremely challenging. At a recent National Cabinet meeting, it was agreed that moving forward, lockdowns would only be used as a measure of last resort. Promising and encouraging talk but for those that are right now experiencing a less than graceful emergence, the priorities are for right now.
According to both state and federal governments and the RBA, the general economic outlook for Australia is very positive. The RBA Governor Philip Lowe has stated that the RBA sees the economy moving from recovery to expansion.
For businesses struggling to fill job vacancies and deal with rolling stoppages through lockdown, the situation may feel more like survival. Jade Finance provides a range of financial solutions to assist businesses at different stages of set-up and growth to tackle the challenges faced by the current economic and global conditions.
Cash Flow Shortfalls
The start of a new financial year can come with extra expenses which the impost on business compounded by a lockdown. Even for those not forced to close, the stay at home orders may have caused a downturn in trade and a hit to the cash flow.
To support businesses facing cash flow shortages, we provide funding options through Secured and Unsecured Business Loans as well as the very popular and versatile overdraft facility. We source overdrafts through our non-bank lenders. Lenders can be more flexible than some banks. So if your business has experienced issues with sourcing a bank overdraft in the past, this may present a very attractive solution. Click here for more information.
Specialist Small Business Funding
The SME sector can be the hardest hit under lockdowns and ‘emerging’ can be a costly process. Many hospitality operations in particular that either close or pivot to take-away only, report that re-opening is an extremely challenging operation. Staff need to be working on the re-opening process while the business is not trading. Money is going out but nothing is coming in.
Another consideration is the widespread labour shortages which are impacting many sectors but particularly hospitality. Many employers will be keen to retain their existing staff and be looking at paying even part-time and casuals through lockdown to ensure they can be fully-staffed when they emerge.
Funding is available to SMEs to facilitate a smooth emergence and business continuation through our lenders. The type of loans may include a non-bank lender business overdraft or a general business loan. Our consultants will discuss the options available for your business and source and structure an appropriate package.
Supporting Business with Vaccination Roll-out
With a clear uplift in interest in getting the COVID-19 vaccination jab, business groups have stepped up to offer premises to assist with the roll-out. Plans are underway for large organisations to vaccine staff on-site and some businesses are offering paid days off for staff to get their vaccination. Many of these plans hinge on the increase in supply which is expected from September. So businesses need to act now to ensure they are ready to play their part. Workplaces will likely require alterations to suit the process of administering the vaccines and may require the purchase of specialised equipment.
How can Jade Finance assist? With finance and loans to cover the costs.
If your business is considering setting-up an on-site vaccination hub for staff, there will no doubt be special requirements in establishing an appropriate facility. This may involve fit-out, furniture and other equipment and building expenditures. Organisations can consider a number of business loan options for these projects depending on their individual requirements.
Where a special fit-out of the premises and acquisition of equipment is required, our range of equipment finance products is available:-
- Car Chattel Mortgage
- Car Leasing
- Commercial Hire Purchase
- Equipment Rental
All our finance contracts are secured at our cheap fixed interest rate with finance terms negotiated to suit the business objectives.
Where the requirements do not involve the acquisition of assets, Secured and Unsecured Business Loans may best suit the business. These types of loans are available to cover a wide range of business purposes and we can secure funding over the short or long term.
Where funding is required to cover staff incentive costs such as paid days off and/or additional staff to cover the cost of those staff, businesses can consider a Business Overdraft through one of our non-bank lenders to cover the extra costs. Overdrafts can be secured for short term cash shortfalls or as an ongoing line of credit.
Whatever funding solutions your business needs to successfully emerge and prosper through this current challenging period, Jade Finance is ready to assist with workable solutions at our signature cheap interest rates.
Contact 1300 000 008 for a no obligation conversation about the solutions available for your specific business funding requirements.
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.