UpBound Finance’s Post

It's true there are all kinds of lenders willing to provide finance to small businesses. Not all of them are created equal, and they may not all have your interests at heart. So, like anything, knowledge is power. Our top tips for comparing business finance: - Consider the comparison rate, that is, make sure you're comparing apples with apples, and factoring in all the fees and charges. -Look at other finance options beyond basic business loans. Perhaps a business line of credit or specialist equipment finance is a better option for you. -Seek professional advice. We analyse and compare finance for a living, so you can be confident you're getting a more complete picture than if you were to go it alone. Get in touch to find out how we can help.

It's true there are all kinds of lenders willing to provide finance to small businesses. Not all of them are created equal, and they may not all have your interests at heart. So, like anything, knowledge is power. Our top tips for comparing business finance: :bulb:Consider the comparison rate, that is, make sure you're comparing apples with apples, and factoring in all the fees and charges. :bulb:Look at other finance options beyond basic business loans. Perhaps a business line of credit or specialist equipment finance is a better option for you. :bulb:Seek professional advice. We analyse and compare finance for a living, so you can be confident you're getting a more complete picture than if you were to go it alone. Get in touch to find out how we can help.

Could Sloppy Bookkeeping Sabotage Your Business Loan? One of the biggest risks I've seen with clients who have poor record-keeping is the impact it can have on their ability to secure financing. When a bank evaluates a loan application, they don't just look at your Profit & Loss statement - they also closely examine your Balance Sheet. This gives them a comprehensive snapshot of your assets, liabilities, and overall financial position. If your books are a mess, with transactions going unrecorded for months, it can make your business look much worse than it actually is. Outdated and inaccurate financials could lead a lender to deny your loan application, even if your underlying business is healthy.

Managing finances is the most important job in a business because money keeps everything running. If you find that you need additional capital for operations, there are solutions aside from shutting things down. Small business finance options include small business loans, overdrafts, asset finance, and invoice finance. Learn more and their pros and cons here: https://bit.ly/3WufPTb #RecruitmentAgency #Business #BackOfficeSupport

What is a debit? In double-entry accounting, debits (dr) record all of the money flowing into an account. So, if your business were to take out a $5,000 small business loan, the cash you receive from that loan would be recorded as a debit in your cash, or assets, account. What is a credit? Credits (cr) record money that flows out of an account. To use that same example from above, if you received that $5,000 loan, you would record a credit of $5,000 in your liabilities account.

Struggling with cash flow? Here are 5 tips to help your business navigate through tough times: 1) Monitor your cash flow regularly: Keep a close eye on your income and expenses to identify any potential cash crunches before they become major issues. 2) Cut unnecessary expenses: Review your expenses and eliminate any non-essential costs to free up cash for more critical needs. 3) Negotiate with suppliers: Reach out to your suppliers to negotiate better payment terms or discounts, which can help improve your cash flow. 4) Accelerate invoicing: Invoice your customers promptly and follow up on overdue payments to ensure a steady stream of cash coming into your business. 5) Consider alternative financing options: Explore options like small business loans, lines of credit, or invoice factoring to bridge any gaps in your cash flow and keep your business running smoothly. By implementing these tips, you can better manage your cash flow and keep your business on track for success. #CashFlowManagement #BusinessTips #FinancialHealth

It's true there are all kinds of lenders willing to provide finance to small businesses. Not all of them are created equal, and they may not all have your interests at heart. So, like anything, knowledge is power. Our top tips for comparing business finance: - Consider the comparison rate, that is, make sure you're comparing apples with apples, and factoring in all the fees and charges. -Look at other finance options beyond basic business loans. Perhaps a business line of credit or specialist equipment finance is a better option for you. -Seek professional advice. We analyse and compare finance for a living, so you can be confident you're getting a more complete picture than if you were to go it alone. Get in touch to find out how we can help. #carfinance #asset #carloan #business #smallbusiness #smallbusinesslending #assetfinance

There are indeed all kinds of lenders willing to provide finance to small businesses. Not all of them are created equal, and they may not all have your interests at heart. ⠀⠀⠀⠀⠀⠀⠀⠀⠀ ⠀⠀⠀⠀⠀⠀⠀⠀⠀ So, like anything, knowledge is power. ⠀⠀⠀⠀⠀⠀⠀⠀⠀ ⠀⠀⠀⠀⠀⠀⠀⠀⠀ Our top tips for comparing business finance: ⠀⠀⠀⠀⠀⠀⠀⠀ 💡Consider the comparison rate, that is, make sure you're comparing apples with apples, and factoring in all the fees and charges. ⠀⠀⠀⠀⠀⠀⠀⠀⠀ 💡Look at other finance options beyond basic business loans. Perhaps a business line of credit or specialist equipment finance is a better option for you. 💡Seek professional advice. We analyze and compare finance for a living, so you can be confident you're getting a more complete picture than if you were to go it alone. ⠀⠀⠀⠀⠀⠀⠀⠀⠀ ⠀⠀⠀⠀⠀⠀⠀⠀⠀ Get in touch to find out how we can help. 👉www.prowestfs.com.au #australiansmallbusiness #homeloans #australianhomes #finance #applecross #canninghwy #perth #bicton #ardross #smallbusinessfinance #smallbusinessloans #smallbusinessadvice #businessfinanceoptions #equipmentfinance #businesslineofcredit #businessfinancetips #businessfinancecomparison #businessfinanceexperts #businesscredit

You may find it convenient to have all your financing with one lender. However, having all your eggs in one basket can be restrictive during different economic cycles or if your business is expanding and you do not have your funders' support. Alternative funding lines ensure your business can access finance during challenging times. Our partnership with over 30 funding partners gives us the flexibility to mix and match your finance requests with a single lender or a mix of lenders. In order to provide cash flow flexibility, multiple lenders and products can be used, such as revolving credit facilities and fixed or floating term loans. The combination of these products across multiple lenders can assist in mitigating risks and ensuring the financial stability of your business. As your dedicated finance partner, we handle all the complexities involved in managing the relationship between your funding partners and any requests you may have. This allows you to focus on running your business instead of juggling relationships with multiple lenders. To find out more about multi-lender business finance, contact your local Finance New Zealand adviser today. https://lnkd.in/gSCyzd4G

I spent a large part of my banking career promoting having the one basket and all the eggs firmly in that basket - but the landscape we operate in has changed. Part of that change is having options that allow you the opportunity to react and be proactive when a particular funders appetite has changed. Providing options is what we specialise in to allow your business or your clients choices. If you want to have a chat to expand your options then feel free to flick me a note. Finance New Zealand #options #finance #assetfinance #opportunities