Business Loans - How to do a Winning Loan Application with a Finance Broker

Business Loans in Australia are readily available, but there is lot more to getting a business loan than just knowing which banks or non-bank lenders to approach.

To maximise your chances of getting a Business Loan you need to:

  • Complete detailed budgets or financial projections for your business. Budgets that includes estimates and projections for sales, production, inventory, administration costs, marketing and selling costs and finance costs.
  • You need to show the business loan bank that you understand the difference between your cash flow projections and profit and loss budgets
  • A succinct business loan application that articulates your business model, competitive advantage, marketing, management, online and finance strategies. This document is like a mini business plan that convinces a bank you know how to run your businesses profitability
  • Bankers work from checklists so you need to be able to speak banker speak. They look at measurements like projected interest rate coverage, historical interest rate coverage and loan to valuation ratios or LVR ratios. It is an absolute must that you communicate these ratios in your business loan application
  • When you start negotiating with a bank about the terms of your business loan you need to be able to understand range of critical loan terms and conditions such as interest rates, variable vs fixed interest rates, penalty rates, what constitutes a default, security, cross-collatoralised security, liens, asset charges, mortgages and grantees and guarantors.

As business loan brokers or finance brokers, Jason Bresnehan & Company will prepare the budgets and financial projections for you. We will prepare the business loan application or mini-business plan. We will include in the application all the banker speak about interest coverage and loan to valuation ratios. We will sit in on the negotiations with you and help you decipher and re-negotiate the business loan terms.

Jason Bresnehan is far more than a business loan finance brokers. Jason Bresnehan is a cross between an accountant, finance broker, consultant and deal-maker. Jason has brokered tens of millions of dollars of business loans across the sectors of residential property development, cropping farms, sheep grazing farms, dairy farms, software businesses and commercial property development.

Email Jason Bresnehan and I will call you to discuss how I can help you get a business loan for your business.