How an Expansion Loan Can Help Your Business
Australia really is the Lucky Country
For some small businesses, however, luck can sometimes run a bit short.
Take a small business owner we know. We’ll change his name to “Greg” to protect the innocent. Happily married with a growing family, toiling away at a business he’d been building over seven years. Greg had his hands pretty danged full – but things were going great. Even when the cost of living started to skyrocket and money became tighter, they managed to keep their heads above water.
Then, one day after submitting his taxes, Greg logged into his MyGov. What he found made his blood run cold. The ATO informed him that he’d gone up a tax bracket. Not only did he owe way more tax than he’d planned, but he faced a combination of hits that nearly put him on the canvas:
- PAYG withholding requirements: Tripled
- Centrelink FTB Payments: Gone
- Previous Years FTB: Need to pay it all back
- Medicare Safety Net: Gone
- Child Support for two kids from a previous marriage: Almost doubled.
Greg had discovered a hard truth: In our great nation, there is a point at which the better you do, the worse off you are. It’s a sad reality that causes countless small businesses to grind to a halt, and can derail what enterprising Aussies have spent years building.
So, time to quit?
Not this battler!
Nope, Greg chose the bolder path. The path of growth. He decided to put his head down, push through the one-step-forward-two-steps-back zone, and aggressively expand his business to the point where, even when all the hungry hands had been satiated, there was still enough left to achieve the lifestyle he wanted for his family.
You Need Money To Make Money – That’s Where a Business Expansion Loan Comes In
There was one slight problem:
To make more money, he needed to expand.
To expand, he needed more money.
See the dilemma?
Greg agonised and researched many options. When he approached Relief Business Loans, he was far from convinced that our Fast Business Expansion Loans were a good fit. There were so many questions:
Fortunately, we had all the right answers:
1. How Much Can I Borrow With an Expansion Loan From Relief Business Loans?
We provide loans ranging from as little as $ 5,000 to as much as $5,000,000. Whether you need a single piece of small but critical equipment or a new factory, we can accommodate your needs.
2. How Flexible Are The Loan Terms?
We understand the importance of flexibility in business. The principle applies equally to business finance. Every circumstance is unique, so we build flexibility into our systems to accommodate you wherever possible. We’ll take into account your cash flow, payment history and overall financial situation to ensure you can access the cash you need with terms that are right for you. Furthermore, our simple eligibility criteria give more enterprises the chance to grow.
3. Are There Penalties For Paying Off A Business Expansion Loan Early?
There’s nothing we love more than watching our clients thrive. Your success is our success, and we’ll never penalise you if the funds have done their job and you’ve grown quickly enough to pay off the loan sooner than expected. On the contrary, we’ll reward you with early payment discounts to help you on your pathway to success.
4. How Quickly Can I Get The Business Growth Funds
Time waits for no one. Business has bugger all patience as well. If you’ve ever tried applying for a loan with a bank, you’ll be familiar with the agonisingly slow process and crushing paperwork requirements, only to be told that you’ve been knocked back because they don’t lend to people with the letter “G” in their name. (Ok, maybe that last bit is a bit of an exaggeration – but you get our point). With Relief Business Loans, the cash can hit your account in 24 hours, so you can start growing right away.
5. Can I Manage The Repayments of My Business Growth Loan?
It’s still a loan, and there’s no getting around the fact that you need to pay it back with interest. However, rather than hit you with a lump-sum payment every month, we’ll set up a direct debit for a smaller, manageable daily amount. That way you can get on with the job at hand without thew stress of having to put together a cripplingly large sum at the end of every month.
6. Will I Be Able To Get A Loan Even If I Have Bad Credit?
We’re far more concerned about your business’s financial situation than the student loan you defaulted on 17 years ago. We’re adamant that bad credit should rarely, if ever, prevent a company from growing and are committed to providing finance to enterprises who can demonstrate their capacity to repay, even if their credit score is poor.
What Can I Use a Business Expansion Loan For?
There are no hard and fast rules on how you can put the funds from a Business Growth Loan to work for you. However, here are some common examples of investments our clients have made in their business expansion:
- People:
Hiring is expensive. However, if you need extra staff to win or complete a contract, expand your capacity, or increase efficiency, our loans can help you secure the necessary personnel you need.
- Facilities:
Expanding, renovating or making unexpected repairs to your premises can present a significant barrier. Access to fast cash can help you clear this hurdle.
- Stock:
Businesses can hit a standstill if cash flow is tight and there’s not sufficient liquidity to build up inventory and keep the wheels of commerce turning.
- Equipment:
Machinery, tools, IT infrastructure, vehicles, and other essential equipment can come with a hefty price tag. Not every business has that kind of coin simply lying around.
- Expenses:
If your Accounts Receivable list is accumulating just as quickly as your Accounts Payable, this can put a serious dent in plans to build your business to the next stage. An injection of short-term liquidity will help you keep the lights on, the doors open, and your expansion plans on track.
- Marketing:
A new website? SEO & Google Ads? Social Media? Or, perhaps you’re considering traditional forms of marketing, such as exhibiting at expos or industry events, signage, and print collateral. Whatever strategy fits your business, not everyone has a marketing slush fund ready to tap into.
These are just some of the reasons why our clients reach out to discuss fast financing options. The take-home message is that, irrespective of what your company needs to help it grow, we’re here to guide you through the process of accessing the funds to turn that dream into a reality.
Relief Business Loans – Helping You Achieve Your Business Expansion Goals
The world of business finance can be confusing and complex. Finding a lender to provide you with the right advice and fast funds when you need them can seem like an insurmountable challenge. Our mission is to make life as simple as possible and ensure you get what you need with the minimum of fuss. That’s why we’ve broken the process into three simple steps:
Here’s how it works:
Step 1: Find the loan that’s right for you on our website and fill in our quick and easy application form. There’s no endless list of questions, and minimal documentation is required – just the basics we need to get you on track.
Step 2: Our team will review your application to ensure you meet the basic criteria and recommend the most suitable loan for your individual circumstances.
Step 3: Once approved, we’ll process your application, and the money can hit your account in as little as three hours. Too easy!
What Are You Waiting For? The Time To Grow Is Now!
So, what happened with Greg?
He applied for that loan and received his funds on the same day. Three months later, his revenue has grown by 20%. He still has work to do, However, with the investments he made in his business, he’s on track to hit his expansion goal of 50% within 6-8 months.
Investing in your venture’s growth can be a daunting and nerve-wracking proposition. There will always be a million reasons why it can wait until next month. However, the best time to start is always right now. With Relief Business Loans, you’re just a couple of clicks and a few hours away from the working capital you need to fund that growth today and start working towards your goals.
The sky’s the limit.
We’re excited to help you get there, so contact us today!
