Small Business Loans

 

A small business loan is usually taken to cover lower and immediate costs that your business faces. Taking small loans as and when you need them rather that taking a much larger long-term loan can be an effective way to reduce the level of debt your business carries over the coming years.   

To achieve a larger business loan set over a longer term, you might have to offer up personal assets as collateral to secure them. Small business loans in Australia often negate the need for security as the agreements usually demand that you repay the loan much sooner. In most cases, the longer the loan term the lower the interest rate.

Small unsecured business loans are useful for a wealth of reasons. Here are some of the most common situations where business owners might see this type of funding as a prime option:

 

When cash flow is low

Cash flow is essential for all types of business especially smaller enterprises. You might be seeing a drop in cash sales, be in the off season, or simply come across more daily costs that usual. Whatever the reason, when cash flow is low, the performance of your business is at risk. Small business financing comes in many forms, but speed is usually the priority when it comes to solving urgent costs. The loans we offer at Cigno Business Solutions are paid out within 24 hours, and are accessible to business owners with bad credit.

 

To buy inventory as soon as possible

Most business lenders look at your credit history before they decide whether or not you are eligible for their loan products. This can be a barrier to those with poor ratings. Not many suppliers will offer you lines of credit if you don’t already have an established relationship with them. When you see an opportunity to buy something at a great price or desperately need to replenish your stock but don’t have the necessary cash, a fast payout loan could be the best answer.

At Cigno Business Solutions, we like to know if you have an Australian credit licence, but the strength of your score doesn’t determine whether or not we can help you. The most important thing to us is that you have a ABN or ACN and that your company generates more than $5000 in revenue each month. As long as you tick these boxes, we’ll be happy to help!

 

To fund a specific business project

Have an idea in mind that’ll take your business to the next level? Whether you want more space, need to hire more staff or have a new marketing strategy in the works, a private small business loan in Australia could provide you the funds needed to get it done. You don’t need to give us all the fine details and you’ll be able to take the exact amount you need to fit your budget.

Sometimes waiting to pull the trigger can be your undoing. If you’ve worked out that the time to act is now but you don’t have the cash in hand to get started, a quick loan could be the way to go. Our business loans aren’t just here to save you when you’re in a pinch, they’re also here to help you grow and succeed at the pace you aspire to achieve.   

 

What are the advantages of a small business loan?

Unsecured business loans have quite a few advantages over other forms of credit. Firstly, these short-term loans are lighting quick, so they’re really handy when time is a big concern. A personal loan might take a few days or weeks to process, whereas our small business loans are paid out within hours of your application being approved.

Another key advantage is the fact that these loans are unsecured meaning you don’t have to put any of your property or other core assets at risk. The loan amount you apply for can be tailored to suit your needs. We offer a limit of $5000 dollars for first time applicants. This is as much as most people would get access to on a standard credit card. Unlike a credit card, our loans don’t come in set amounts that tempt you to spend more than you need to.

We make the terms and conditions of every loan very clear when we get back to you with an offer. Whatever type of business you run, a small business loan could be the path to your next leap in progress. Still building a startup? Your business plan no doubt states the level of funding you need to make it to the next phase. Get the support you need free from delays, with no risk of harm to your credit score, and no need for any form of security deposit.