FAQs

Lenders may assess prospects for the new enterprise in their industry sector and this may impact elements of the funding. All applications are assessed on an individual basis for all industries.

Where the enterprise has not traded, lenders will be looking for a business plan and the financials of the owner.

Funding for enterprises in the early stages of operations are available primarily through brokers and specialist lenders.

When a start-up venture is approved for funding, they may access a comprehensive selection of commercial credit facilities including secured and unsecured loans; asset acquisition financing; overdrafts and lines of credit.

Interest rates are offered by lenders based on an individual assessment of each application. Rates can vary depending on the creditworthiness assessment of the enterprise owner.

Subject to lender approval, enterprises may access a range of credit facilities to cover the costs of starting a new venture.

Unsecured funding, that is without collateral, may be approved by some lenders. Typically, however, lenders will be looking for assets owned by the enterprise owner to use as collateral. Collateral may be unencumbered real estate, vehicles, equipment and other assets.

Commercial credit facilities have varying tax deductible elements. When approved, a start-up would be eligible to realise the deductions relevant to the type of funding.

A start-up may apply for an overdraft with lenders looking at the owner’s credit score, collateral and financials to approve the application.

A business plan is a document which details the plans for a new enterprise. It would typically include information on the products/services; the target market; costings for setting up and running the operation; revenue projections; cost-benefit analysis; details of the owners/directors; collateral available and other similar information. Templates for business plans are available online through various sources.