Choose the right business finance
Choosing the right kind of business finance can be difficult. Banks and other lenders offer a range of business loans including Franchise Business Loans, Car & Equipment Finance, overdrafts and fully drawn advances.
Business finance options
To cope with fluctuations in cash flow your business may need access to an alternate source of funding.
Franchise Business Loans
Because franchising is a specific way of doing business, our specialised team who have the knowledge of franchising and experience in financial services will provide customised solutions that can help you save time and ensure you get the right finance for your business. We will also provide you with a check list as it is essential to carry out your own checks to verify that the previous owner or franchisor has a solid underlying business system
Car & Equipment Finance
If you need to buy vehicles for your business, an equipment loan provides financing for the full cost with repayments fixed for the life of the loan. You own the vehicle and the Bank takes a mortgage over the vehicle as security.
We also provide services in medical equipment finance that gives you access to the latest medical equipment when you need it without dipping in to your working capital and affecting your cash flow. You can obtain finance for most of your medical equipment needs including CT Scanners, MRIs, ultrasound equipment, nuclear medicine PET, x-ray equipment, cardio-vascular/cath labs and other general medical equipment and accessories. Our specialised team will walk you through your needs
An overdraft facility can be attached to your business account with an agreed overdraft limit. Security is usually required together with a credit assessment of the business viability.
The purpose of an overdraft facility is to provide working capital for the business before income is received. It should not be used for capital purchases or long term financing needs. Overdrafts can be secured or unsecured and their fees depend on the credit limit.
Fully drawn advance
A fully drawn advance provides access to funds upfront and is used for funding long term investments such as a new business or equipment that expands the capacity of the business. It is not the same as a short term loan that you would use to help with cash flow and fund the day to day running of the business.
A fully drawn advance is a term loan with a scheduled principal and interest repayment program. These loans are usually secured by a registered mortgage over a residential or commercial property or business asset.
The advantage of using a fully drawn advance for business investment is the interest rate may be fixed for a period, providing certainty and stability for repayments.