One of the keys to maximising your company’s profitability and success is to be able to access the right loans / facilities, on the right terms, at the right time.

Business needs change, and loan products / facilities can be a wonderful enabler of growth – whether the facility serves a specific transactional purpose (e.g. to purchase equipment, a property, or a vehicle), or to provide working capital.

There are a range of criteria that will affect your ability to secure favourable borrowing terms, or even qualify for a loan:

• The financial position of your business. That includes your business and individual assets and liabilities; it also includes your business income, profitability, as well as their trend line (i.e. whether they’re increasing or decreasing).
• The purpose of the loan. The stronger your business case, the more confidence lenders will have in your ability to repay the loan.
• Your credit history. Lenders will want to know how well you’ve managed previous loans.

Other criteria also apply, which can vary from lender to lender.

Applying for a business loan can be very difficult to get right on your own, but is a much smoother process when you work with a broker who understands the intricacies of business lending, as well as the different credit policies of numerous lenders.