An increasing number of business owners are using our business line of credit brokering services to manage their cash flow.
Whether to manage daily business expenses, invest in new opportunities, or navigate seasonal fluctuations, having ongoing access to a source of funding if needed is increasingly important. Our service can assist business owners even if they have a bad credit history.
That’s where our free business line of credit brokering comes in, giving Australian business owners a quick and easy way to find the best fit line of credit products from more than 60 potential business loan providers in our marketplace.
What is a Business Line of Credit?
A business line of credit is a flexible financing option where you can borrow funds as needed up to a certain credit limit. Credit typically includes variability in rates, limits, and setup fees, and factors that influence the borrowing amount, distinguishing between secured and unsecured lines of credit. Unlike a traditional business loan you only pay interest on what you use, so it’s usually used as a tool to manage cash flow.
Think of it as a financial safety net, providing you quick access to working capital if and when you need it.
Line of Credit Benefits
Convenience
One of the biggest benefits of a line of credit is its flexibility. Unlike term business loans that give you a lump sum of money to repay over a fixed term, a line of credit lets you borrow as needed. So you can use it to cover short term expenses similar to a business overdraft, deal with unexpected expenses, or take advantage of opportunities to grow without the burden of a fixed repayment schedule.
Cost Effective Financing
With a business line of credit you only pay interest on what you use. This can be a big savings compared to traditional business loans where you might pay interest on the entire loan amount even if you don’t use all of it. And the interest rates on lines of credit are typically lower than a business credit card, so it’s often a more affordable financing option for business owners.
Cash Flow Management
Having reliable cash flow is key to any business. A business line of credit can help you manage your working capital so you have funds to pay payroll, buy inventory or cover other operating expenses.
This is especially helpful during seasonal times where a business’s cash flow might fluctuation, or when dealing with slow paying receivables.
Business Credit
Using a line of credit responsibly can also help you build your business credit. By making loan repayments on time and keeping your credit utilisation low, you can improve your credit score which can make it easier to get business financing in the future.
Why Our Business Line of Credit Brokering?
Business finance can be complex and time consuming. With so many options out there finding the right line of credit for your business can be hard work.
That’s where we come in. We give you quick and easy access to more than 60 potential lenders – from the big four banks to smaller specialised lenders. Our service can assist all business owners, even if they have a bad credit history in some cases.
Experience and Knowledge
We’ve helped more than 3,300 Australian businesses over the past 14 years, and we are here to help you too. We understand the intricacies of different lines of credit, and can help you navigate the various options to find the one that’s right for your business.
Customised Service
We believe every business is unique and so are its financial needs. Our approach is tailored to your situation so you get the right line of credit for you. We take the time to understand your business goals, cash flow patterns and credit profile to recommend the best financing options.
Access to a Large Lender Network
Our lender marketplace is one of the largest in Australia, with more than 60 potential lenders. This gives us access to a wide range of financing options you may not have access to on your own. We work with traditional banks and alternative lenders so you have more choices.
Easy Application Process
Applying for a business line of credit can be overwhelming but we aim to make it as simple as possible. We guide you through the all the way through the application process, from gathering the needed documents, to submitting the application, and negotiating terms. That way you save a ton of time and hassle, so you can focus on your business.
Competitive Rates and Terms
Because we have relationships with lenders, we can sometimes get better rates and terms than you would on your own. We advocate on your behalf to get you the best deal possible so you can save money and improve your cash flow.
How We Work
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Initial Consultation
We start with a consultation to understand your business, financial needs and goals. This helps us assess your eligibility and recommend the right line of credit for you.
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Proposal and Recommendations
Based on our assessment we provide you with a proposal outlining the best line of credit options, rates, terms and any fees.
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Application Assistance
We guide you through the application process, help you gather the required documents and ensure your application is complete and accurate.
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Lender Negotiation
We use our relationships with lenders to negotiate the best deal for you so you get a competitive outcome.
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Ongoing Support
Our support doesn’t stop once you have your line of credit. We provide ongoing support to help you manage your credit line and answer any questions or concerns that may arise.
Business Line of Credit – Examples
Retail Business Expansion
Sarah, owner of a growing retail business, could need extra funding to stock up ahead of the holiday season. She can come to us for help to get a business line of credit. We assessed her financials and understood her business goals, and recommended a flexible line of credit with a competitive rate. With the extra funds Sarah was able to stock up and increase sales, and her revenue grew significantly over the holiday period.
Seasonal Variations
John runs a landscaping business that has big seasonal fluctuations. During the off season his cash flow was always tight and he struggled to cover his expenses. We can help John get a business line of credit so he had the financial buffer he needed to manage his cash flow better. With the line of credit in place John could cover his expenses during the quiet months and take on new work during the busy season without financial stress.
FAQs
What’s the difference between a business line of credit and a business loan?
A business loan gives you a lump sum of money that you pay back over a fixed period, while a line of credit allows you to borrow funds as you need, up to a set credit limit. Credit typically includes variability in rates, limits, and setup fees, and factors that influence the borrowing amount. You only pay interest on what you draw from the line of credit, making it more flexible and cost-effective for cash flow management.
How do I get a business line of credit?
Eligibility criteria varies from lender to lender but generally you will need to provide financial statements, proof of revenue, and good credit history. However, even if you have a bad credit history, our team can help you understand the requirements and improve your chances of approval.
What can I use a business line of credit for?
A business line of credit can be used for daily expenses, payroll, inventory purchases, unexpected costs, growth opportunities. It gives you the flexibility to fund your business as you need.
How does the interest rate on a line of credit work?
Usually the interest rate on a business line of credit is variable, meaning it can change over time based on market conditions. You only pay interest on what you draw and the interest is usually charged monthly. Our team can help you understand how interest rates work and get the best rates.
Get Started
If you’re ready to take control of your business finances and grow your business, our line of credit brokering services are here to help. With our expertise, personal service and access to a large network of lenders we can find the right line of credit for you.
Contact us today for a consultation and see how we can help your business thrive.
Call 1300 262 098, or book an appointment online here now.
