The financial year start can be a popular time for change. A time to realise long-held plans to run your own business. To finally make the move to contractor status with your own machinery, establish as a self-employed tradie after completing an apprenticeship, set-up as a grower, or turn that side hustle into the primary source of income. But even the best planning, the greatest passion, and the most creative talent, can fail to get a great idea over the line, without affordable financing. With a refreshing approach to commercial lending, Jade Finance supports start-ups with specialist loans for new business services.
We work with a lot of start-up operators and know the challenges they face in securing affordable funding to acquire the necessary vehicles, trucks, machinery and equipment to get the enterprise underway. With our individual attention, vast lender base and specialist finance products, we address these challenges in a positive and productive way.
We appreciate many will have a lot of questions that they would like clarified before submitting a finance application. In this explainer, we cover off on a number of the main concerns that we regularly discuss with start-up operators.
How to Access Specialist Services for Loans for New Business
Jade Finance assists start-up operators connect with the right lenders, access suitable credit and get approval to secure workable loans for new business. Access to our services is direct, without any referral from a third party needed.
A major issue preventing start-ups from getting approved for financing is not being able to meet the eligibility criteria and approval guidelines set by many banks and lenders. These guidelines can include being in business for more than 1-2 years, having at least 1 year of financial accounts and records, and having a minimum turnover level.
We provide access to over 80 lenders which includes non-bank lenders with more flexible criteria. Our brokers match each operator with the lender that has the most suitable eligibility criteria. Funding can be provided on a ‘low doc’ basis – approved with less than the usually required financials and trading history.
What are Low Doc Loans for New Business?
Low Doc finance is a description for funding approved to operators with less documentation or financials. Applicants can be approved through specialist lenders based on 6 months of turnover figures. Lenders may require the personal financials of the operator to be provided and the personal credit profile is also reviewed. Additional collateral may be required.
Credit facilities for start-ups cover the full range of commercial credit facilities – Leasing, Rent-to-Own, Hire Purchase and Chattel Mortgage. There may be loan limits applied, but workable rates and terms may be achieved.
What can loans for new business be used to buy?
When a start-up operation connects with the right lender and has their application approved, they can be eligible for funding for a wide range of assets and purposes. Commercial credit can be used to fund all types of plant, machinery and equipment, including IT and computers, used in a commercial operation.
Low doc funding can be used by operators across all industry sectors and for all set-ups – micro operations, sole traders, self-employed, and ABN-only holders.
Affordable Car and Truck Loans for New Business
Funding for motor vehicles is a popular requirement for many new operators. Tradies need utes, delivery services and growers need vans, and many others need cars for general transport. New owner-drivers need trucks. Using our expert services, operators may access affordable funding for all types of new and used vehicles – cars, vans, utes, and light, medium and heavy-duty trucks.
Affordable car finance is available on top-selling delivery vans such as Toyota HiAce, LDV and VW, popular utes including Toyota HiLux and Ford Ranger, and all models of SUVs, passenger cars and heavy vehicles.
Tailored Machinery Loans for New Business Requirements
If planning to set-up as a contractor in the construction or agricultural sector, affordable machine funding can be vital to achieving those plans. We provide start-ups with access to workable financing for new and used machinery including backhoes, diggers, excavators and many others.
Solutions at the best available interest rates are individually tailored to meet the specific needs of the new operation, to facilitate set-up and provide support for growth.
Applying for New Business Loans
Start-up operators can apply for financing with Jade by using our online portal or calling and speaking with one of our brokers. While not having full documentation is a given, applications can be strengthened by preparing as much information on the financial position as is available.
We handle the application processing for fast approval so operators can move quickly to acquire the machines and vehicles necessary to get their operation underway.
For specialist services to secure loans for new businesses, contact Jade Finance on 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.
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