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Business loans for scaling up in the new financial year

EOFY is rife with cash flow stress, chasing payments and weekends spent emailing paperwork to your tax agent. Conversely, the start of a new financial year is an exciting chance to revise your business goals and build on the success of the past 12 months. If you’re planning to scale up or expand your operations in 2022–23, there are a number of business loans that can help.

Advantages of using a commercial loan for growth

Whether you are an entrepreneur just starting up a new business or an established presence looking to broaden your offering, a business loan can provide a variety of benefits:

  • Quick cash injection to acquire essential assets, purchase commercial property, hire more staff, and much more.
  • A convenient and easy way to access the cash you need in a short amount of time.
  • All the profits from your scale-up (excluding loan repayments) go straight to you.
  • You don’t have to deal with investors, who are likely to want a say in how the money they lend you is spent.

Here are some of the most common commercial loans that can help you get your business where it needs to be.

Business loans

Business loans aren’t just for financial relief during challenging times. On the contrary, many owners access loans to help them achieve long-term success. The best part about a business loan is that you have the freedom to use it in the best way you see fit to scale up your operations.

“Timing the market for growth is one of the hardest things to gauge as a business owner,” says David Crook, Managing Director at Nero Financial. “Thankfully, you don’t have to bootstrap your expansion. With a range of business loans available, SMBs can scale up their offering without having to disrupt their cash flow and day-to-day business.”

Commercial property loans

If you have a vision for your business that includes a larger market share, you may want to set up shop in new locations. But unless you already have significant cash flow, you will likely need a commercial property loan to get you into the new premises – from new office space to warehouses to retail shopfronts.

Asset and equipment loans

Many Australian businesses rely on assets and equipment to deliver their specific product or service. However, when tools or machinery suddenly break down, or when they need to be upgraded to meet demand, you may not have the capital to purchase new assets outright. That’s where an asset and equipment loan can bridge the gap and ensure there are no disruptions to your productivity.

Vehicle loans

From upgrading the company car to purchasing an entire fleet of vehicles for long-term business growth, vehicle loans can help you expand your reach and put you back on the road quickly.

Even if growth isn’t on the agenda for you this year, lines of credit and cash flow finance can help keep you afloat and strengthen your business. Contact Nero Financial today or call 1300 025 949 to find out how we can help you get the best lending solution for your needs.