What You Need to Know About The Debt Service Coverage Ratio
Key Takeaways Key Point Description Definition The debt service coverage ratio (DSCR) measures a business’s ability to generate sufficient cash flow to cover its debt obligations. Lenders, particularly banks, closely examine DSCR when evaluating business loan applications. Why is the DSCR Important in Business Loans? The DSCR helps lenders assess your business’s capacity to repay […]
Mortgage Rates Will Keep Rising
A report from the Reserve Bank of Australia details that the RBA raised the cash rate by 425 basis points between May 2022 and December 2023. The average mortgage rates increased by 320 basis points—105 basis points less than the cash rate increase. Only around 75% of the cash rate increase passed through to the […]
A Complete Guide to Getting Business Loans for Retailers
Key Takeaway Table Key Point Description Uses for Retail Business Loans Business loans can be used to cover costs associated with starting and operating a retail store. These expenses include startup costs, working capital, emergency costs, business opportunities, upgrades and expansion, and e-commerce development. Loans can also help your store keep up with regulations. Understanding […]
Securing a Business Loan for an Electric Vehicle in 2024
Key Takeaway Table Key Point Description Electric Vehicles in Australia Australia’s electric vehicle (EV) market is on the rise and is expected to grow further in the next few years. The country is now catching up, with the government providing infrastructure, incentives, and other benefits to encourage people to transition to sustainable transport. For business […]
Accessing Business Loans for Sole Traders with Bad Credit
Key Takeaway Table Key Point Description Definition A credit score is a score that indicates how likely you are to pay back loans and other debts. The higher the score, the more creditworthy you are to various lenders. A score higher than 600 is generally viewed positively by lenders. What lowers your credit score? Some […]
Brewing Success: Business Loans for Cafes and Coffee Shops
Key Takeaway Table Key Point Description Cafes and Australia’s Coffee Culture Australians love their coffee, with a majority drinking at least one cup a day. In a country with such a strong coffee culture, cafes are resilient businesses that can withstand unforeseen challenges. If you’re looking to open a cafe or to make improvements to […]
Commercial Loans for Real Estate: What You Need to Know
Key Takeaway Table Key Point Description Definition Commercial real estate refers to properties that are used for business purposes. Some examples include office spaces, commercial buildings, retail stores, restaurants, malls, warehouses, and apartment complexes. Business Loans for Commercial Real Estate Business loanscan help with the purchase, refinancing, development, or renovation of commercial properties. You can […]
Accelerate Your Business with Commercial Car Loans
Key Takeaway Table Key Point Description What is a business car loan? A business car loan is a loan made to purchase a car, van, or any vehicle used purely for business purposes. Business car loans are usually chattel mortgages, which means the vehicle itself serves as security for the loan. Although less common, there […]
Exploring the Best Loan Options for Trucking Businesses in 2024
Key Takeaway Table Key Point Description Australia’s Road Freight Transport Industry Background The road freight transport industry is crucial to trade and commerce in Australia. Through the movement of heavy vehicles like trucks and trailers, goods are transported safely all over the country. Although revenues saw a dip during the pandemic, all signs point to […]
A Veteran’s Guide to Small Business Loans in Australia
Key Takeaway Table Key Point Description Why start a business as a veteran? Choosing a path of entrepreneurship can help veterans smoothly transition to civilian life by helping them engage with the community and reach financial independence. Starting and running a small business can also help veterans develop new skills and gain control of their […]