Business Loans Gold Coast

Business Loans on the Gold Coast

Business loans on the Gold Coast can be a challenging proposition, as lenders will typically apply stricter borrowing criteria to business loan applications (when compared to car finance or home loans). But there’s no reason why applying for a business loan should cause undue anxiety. With the assistance of an experienced business finance professional, you can determine the right business loan strategy to fit your needs and find the right lender to suit your business.

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Business Loans Gold Coast | Business Broker Gold Coast

Assisting with Business Loans on the Gold Coast

At Professional Lending Solutions, we understand the complexities surrounding business finance on the Gold Coast. That’s why we’re committed to going above and beyond to ensure the best possible outcome for our commercial clients. Our experienced team of brokers aren’t your typical “finance people”, only interested in the facts and the figures. We understand that there is always a bigger picture and that each individual application will have its own unique circumstances. This is why we take the time to talk with business owners – we want to understand the issues your business is facing and what your future financial goals are so that we can help your business achieve success.

We can help you with a range of business finance solutions, such as:

  • Bank loans (secured and unsecured)

  • Commercial overdraft

  • Invoice financing

  • Company credit cards

  • Establishing a line of credit

  • Business equity loans

  • Low-doc business loans

  • Equipment loans

The Benefits of Using a Broker for Business Finance on the Gold Coast

The team at Professional Lending Solutions have extensive experience in the commercial finance sector. Before becoming a finance broker our Managing Director, Phil Verheijen, spent 12 years working in management roles in Commercial Finance and obtained a Bachelor of Business (Finance), followed by an MBA majoring in International Business. Additionally, as the owner of a small business, Phil understands the unique challenges that come with running a business. So, when you partner with the team at Professional Lending Solutions, you can rest assured that you’ll:

  • Find the Best Solution: Because there are so many different options available for business loans on the Gold Coast, it can be difficult to determine exactly which one is going to offer the most benefits. Our knowledgeable brokers can advise which business loan product will best suit your needs, whether you’re expanding the family business, purchasing a new office or seeking funding for a start-up.
  • Gain Access to the Widest Range of Lenders: Professional Lending Solutions have a panel of lenders that offer a wide range of business loans on the Gold Coast. This allows us to consider your particular circumstances, examine and compare the various loan products available from all the different lenders and then make recommendations on which product will work for your business.
  • Obtain Free, Honest and Tailored Advice: Our business finance brokers are committed to working in your best interests. This means we’ll always give you our honest and professional opinion – not just the answer we know you want to hear. We’ll provide you with free advice that is tailored to your situation.
  • Have Minimal Stress Throughout the Whole Process: When you work with a finance broker from Professional Lending Solutions, it’s like having a professional coach, personal assistant and office administrator all rolled into one. We’ll take care of the paperwork, chase up lenders, advocate on your behalf and ensure that any issues are handled promptly.

A Success Story for Business Finance on the Gold Coast

Professional Lending Solutions was contacted last year by a customer seeking a commercial loan in order to purchase a business. The client was referred to our Managing Director, Phil Verheijen, after they had already had their application for a business loan declined twice. On reviewing their proposal, Phil quickly realised that significant adjustments would be needed for the client to gain approval.

Phil began by identifying which lender would be most likely to offer an acceptable product, then worked with the client to restructure the deal to make it more palatable to the lender. Firstly, he amended the application to include allowances for supporting cash flow (overdraft) during the first six months. Phil then spent time considering how to make the loan more tax-effective and structured the loan to be interest-only. Meanwhile, the bank agreed to accelerate the amortisation of the interconnected home loan to give them the same principal reductions year-on-year. Finally, Phil worked with the client to develop their resume and business plans so they could provide strong evidence as to how and why the business would succeed.

As a result, the business loan was approved and the sale of the business went ahead as planned. This client has since been back twice to obtain equipment loans for their business.

Frequently Asked Questions About Business Finance on the Gold Coast

The first thing we recommend is contacting an experienced commercial finance broker, as they can walk you through the whole process step-by-step. We’ll consider why you want to take out a business loan and how much you’re hoping to borrow. We can then review your business finances to determine which kind of business loan would best suit your needs and calculate your likely borrowing potential. Once we know what kind of loan you need, we can start comparing business finance loan products to determine which lender will offer the most suitable solution.

 A business banking contact will be able to tell which business loan products are available to you…but only those that are offered by their bank. They won’t be able to tell you if a competitor offers a more suitable or more affordable product and they aren’t legally required to offer unbiased advice.

Depending on what you need the business loan for, you may have various options available. Which type of loan is going to provide the best outcome will vary based on the specific circumstances and structure of your business. The wise thing to do is talk with a business finance broker before you make a decision, as they will be able to offer tailored advice on which type of business loan you should apply for.

This will depend on a range of factors, including your business turnover and current financial situation. Additionally, most lenders will be looking at how long your business has been operating, why you need the loan, whether or not you have any unpaid tax obligations and what your business credit history looks like (i.e., do you pay your bills on time?). The other major factor to consider when contemplating how much you can borrow is whether the loan will be secured or unsecured.

A secured loan is one where your business has assets equivalent to the borrowed sum that you can list as a guarantee. If you were to default on a secured loan, the lender would be able to seize the listed assets to pay off the outstanding debt. An unsecured loan is one where you don’t have any assets listed as collateral. Because this represents a greater risk for the lender, an unsecured loan will typically come with a higher interest rate and be for a lower amount (when compared with a secured business loan).

This is another tricky question because the “best business loan” for one company won’t necessarily be the best business loan for every company. Most of the bigger banks in Australia will offer a range of business banking loan options, but eligibility for these products will vary. There are also a number of non-bank lenders who specialise in small business loans, which can be ideal for newer businesses that may struggle to obtain finance through one of the major banks. This is why it’s important to consider eligibility criteria and lender attitudes (not just interest rates) when determining which business loan will best suit your needs.

Testimonials for Business Loans on the Gold Coast

Cameron Bracewell
Cameron Bracewell
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I have used Phil a number of times for both personal and business finance. Phil has a wealth of knowledge and experience in his field, and has ALWAYS acted in my best interests. If you have any finance related questions, he is your man.
Jayden Vecchio
Jayden Vecchio
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Phill's expertise in complex lending is second to none. I would highly recommend him to anyone who needs help with a home, investment or commercial loan!
Josh Bruce
Josh Bruce
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Phill and his team did an amazing job in helping us purchase our home, we also used Professional Lending Solutions for finance on our company cars. Have recommended Phill to others and he hasn’t disappointed.

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