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Friday, 20-Sep-2013 12:55 Email | Share | Bookmark
4 Tips For Getting A Business Loan

It is also likely that your company will be passed over if you are lacking sufficient collateral to secure a loan. "Visit a community bank and also inquire about SBA loan programs," suggests Ross. "Since up to 80 percent of a business loan can be guaranteed by the government under the SBA program, some banks may be more lenient. The downside to this route, of course, is the lengthy paperwork and delay in securing financing due to bureaucracy." 4. Look at alternative financing for short-term needs. Alternative financing is on the riseas historically profitable or growth-stage companies face shortfalls in cash flow. "Asset-based lending and factoring are good bridge financing avenues for many small businesses," says Ross. With factoring, a company sells its accounts receivable to receive a short-term loan of up to 80 percent of its value. <br>For click here! the original version including any supplementary images or video, visit

Bank wars: what’s in it for small business?

IT'S like a flash mob, only you don't need to bring your dancing shoes - just some cash. And it's a trend that's rapidly spreading around the world, with Sydney staging its first cash mob in the inner city this Saturday afternoon. Cash mob, founded in the US last year, aims to get people to descend on a small business en masse to spend money and support the local community. In Sydney, a group will be arming themselves with $20 each and a smile, before gathering at a "secret location'' at 4pm. Organiser Mark MacSmith decided to bring the idea of a cash mob to Australia, after seeing how the movement had grown in the US and Canada. MacSmith, a 26-year-old digital planner from Darlinghurst, said he had seen many small businesses struggle in his own neighbourhood. End of sidebar. Return to start of sidebar. "There are so many for-lease signs on Oxford St," he said. "I think it's shining a light on buying local and how nice it is to go into a local store - the service and the friendly people in the store." MacSmith will announce the "secret location" of the inner city business they're planning to target via Facebook and Twitter on Thursday, on or @sydneycashmobs . <br>For the original version including any supplementary images or video, visit

Cash mob to help out Australian small business

NAB has knocked the breath out of its competitors with its UBank online home loans that offer significantly lower interest rates, discounted variable rate mortgage after three years and zero fees. Great news for the average consumer but whats in it for small business? With whispers that the onslaught has only just begun, this space could soon get very interesting. So far, unless you are refinancing your home loan, the benefit is not obvious, but Westpac has already indicated its out to woo business customers and, as confidence increases, is looking to amp up the competition for business credit and business loans. There is a link between home loans and business transaction accounts, however. Business people tend to keep the same provider for both home loan and business transaction accounts so the NAB grab at the home loan market is also an indirect grab for the business customer. As things pick up for business small business owners are less likely to self fund any cashflow shortfalls from their mortgage, instead opting for a line of business credit, overdraw facility on their business account, or business loan. No wonder the Commonwealth Bank head of retail banking, Mr Ross McEwan, has come out recently to publicly state that CBA is planning to hold its position as the number one bank in the Australian mortgage market, while Westpac is trying to make it easier for mortgagees to switch. So if youre a business owner, and youre in the market for a mortgage, dont be afraid to haggle. <br>For the original version including any supplementary images or video, visit

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