The basic ingredient of any business is an adequate amount of capital. A Business Loan is a loan given to a company or a startup for carrying out their business activities. Like any other type of loan, a debt is created for a business loan which is to be paid over a period of time with additional interest. The most common type of business loans is a bank loan. Other types of business loans include asset-based financing, invoice financing, and microloans.
Why Bank Loans are a Tricky Option?
Banks provide loans after doing verification at their end and this is not liked much by a lot of companies. The reason for this is that, in some cases, banks also want to have a look at your balance sheets, business plan, and business’s accounts. Many organizations don’t want to give the bank access to their confidential data. This is where they look for other options to gain capital for promoting and expanding their brands. We provide many suitable alternatives for such companies. The most common and well-known among them is Asset-Based Financing.
Asset-Based Financing-The Common Alternative
This type of loan can be given on a variety of valuable assets. This is the most popular option adopted by those companies, which cannot provide the documentation the bank wants or lacks the stature to get loans from other financial organizations. It involves borrowing of cash against one of the company’s asset. The asset used for getting loan could be shares, any type of machinery or some part of the land. In such cases, the lender does verify the authenticity of the borrower but the main consideration is the collateral. We do offer such long-term, large-scaled loans to organizations of any scale.
Healthy Loans Australia believes in providing opportunities to everyone to excel in their business and consequently, their lives. Banks are not keen to provide short-term loans to small companies. The capital of such loans is also less and due to lack of funds, a promising company is deprived of a chance to thrive.We understand this fatal issue in our community and want to narrow the gap. For this reason, we also offer Microloans. Small-scale organizations are catered with equal interest and respect at our company. We truly value each and every person that is associated with us in whatever way possible. The terms on which loans are provided are kept customer-friendly so that a good working relationship is maintained.
Unsecured Business Loan
Another feature that we offer is the provision of Unsecured Business Loans. In a secured loan, an asset is pledged against the loan by the borrower which means that in case of non-payment, the lender can claim that particular asset. Unsecured loans makes life easy as any particular asset is not needed for getting a loan.In this way, Healthy Loans Australia provides short-term and small-scale loans alongside long-term and large-scale ones. This helps in diminishing the gap between different sections of the society.
Everybody must be given a CHANCE!!!