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ALC Commercial
ALC Commercial, an Australian one-stop financial provider offering business funding & working capital loans to keep Australian businesses go all the way.
ALC Commercial, an Australian one-stop financial provider offering business funding & working capital loans to keep Australian businesses go all the way.


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5 Simple Solutions for Companies Running on a Poor Cash Flow

If you own a company and it is running on a poor cash flow, do not worry because there are plenty of solutions that can help you get back to making profit. As an option, you may want to look for some bad credit loans. These loans may represent one of the best solutions for your financial problems. Besides this solution, we will also provide four more, so you get your problems solved as fast as possible.

So sit back, relax, and we will present these simple solutions that every business owner should know when he runs his company on poor cash flow. Every situation is different, so what worked for someone might not work for you. Assess your business’ problems and pick the option that suits its needs best.

1. Bad Credit Loans

Using bad credit loans is nothing new. In fact, it is a common solution among business persons and those who have financial problems. If you have bad credit and you need to finance a new computer, a new car, salaries, buy new equipment, repair equipment, renovate, etc., this type of loan can help you.

The thing you need to know about bad credit loans is that they may attract a high interest rate, so it is best to pay them off as quickly as possible. Like with any other loan, you will need to inform your lender how much you need, how you are going to use it and how you plan on repaying.

The more control you have on your documents, and the more you know what you want to achieve with your loan, the higher the chances for your lender to approve it. All you got to do is know how to act and how to discuss your situation. Be direct, sincere, and you might just find the solution to your problems.

But, before you apply for bad credit loans, make sure your company has the financial means to pay them off in the future because if this is not possible, the debt will bring you even more problems than before. Also, before taking the loan, make a plan on how you intend to use it, and aim to fix the most pressing problems and raise the profits.

2. Stop Spending

Spending the company’s money on useless things at this moment is redundant and wasteful. If you are low on cash, you could stop using expensive advertising and go on the Internet. There, you can use social platforms and free sites to advertise your company and your products.

Spend the money on basic stuff that your business needs to run properly. Yes, it will be hard for all of you until you get out of this financial pickle. You should also stop dreaming about that company car or any other investment that is not a must at the moment.

So, the main idea is to focus on payments that cannot be delayed and leave the unnecessary expenses for when you can afford them without getting yourself in more debt and trouble.

3. Start Saving

Money made from the profit should always go back into the company. If you, the owner of this company, have additional income, you could use that money to reduce the debt or improve the cash flow.

If you do this, then you might be able to avoid getting loans from a bank. You won’t have to pay any interest rates or feel the pressure of monthly payments. Moreover, helping yourself out of a tight financial situation will bring great satisfaction.

4. Improve Your Credit Score

If the weak cash flow is caused by bad credit, you will want to solve that problem. Even though it might take a while until it is fully fixed, it is definitely worth it. Find someone who can help you get this done correctly and efficiently. Try to go to a credit repair company and improve your credit file. This way, you won’t have to waste your time with bad credit loans but with real business loans.

However, pay attention when you choose a credit repair service, since there are lots of scams out there. We recommend that you do some research prior to settling with a certain firm.

5. Get Rid of the Debts

Weak cash flow may be the result of a combination of bad credit and a mountain of debts. You might make a profit, but that profit always goes towards the debts that you acquired over the years. Eliminate the small debts first, then move on to the bigger ones.


You know best what your company needs, so take into consideration the solutions we offered and be ready to get back to making a profit. If you want to find out more solutions and more details about bad credit loans, visit our website or call us on 1300 886 996 for a free consultation and assessment.
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Top Reasons Why You Shouldn’t Mix Personal and Business Banking

One of the first things one has to do when it comes to establishing a small business is to set up a separate banking account. Nevertheless, many people choose to mix their business and personal banking, without being aware of the risks that this decision involves.

That being said, in today’s post, we will like to present to you the top reasons why you should reconsider making this decision. As always: being informed is a must! Here’s what you should know about personal versus business banking!

You Might Find It Difficult to Pay Your Taxes

The primary thing that crosses your mind when it comes to personal versus business banking is that if you do choose to mix these two, filing your taxes could be rather challenging. Why is that?

That’s because both your personal and business transactions will be present on the same statements, making it difficult for you to make the difference between the two. Not to mention that it is time-consuming. So, by making a simple decision such as having two separate accounts, preparing your financial documents for a tax professional won’t be that much of a challenge.

What If You Are Running a Hobby Business?

It’s no secret that many people set up hobby businesses. That implies a business idea that won’t necessarily help you to become wealthy overnight, but, instead, it is something that you’re passionate about.

In this respect, when it comes to hobby businesses, the revenue that these companies bring isn’t that extraordinary. Still, if the business statements are combined with your personal account, you could have the impression that your little company isn’t producing any money.

Moreover, even if it’s a small hobby business, it is still a business so you should treat it as such. A separate account is the way to go if you want to build your hobby into a stable business with credibility. Imagine when your clients write a check for the services provided and instead of writing it in your company’s name, they write it in yours. This won’t make the best impression, and I bet they will be confused a little bit.

You Could End Up Spending the Wrong Money

Since both your personal funds and your business’ funds are being kept in just one account, it is very difficult to draw a line and know the limits of each one. Because of this, when you start spending the money, you might end up using business money for your personal expenses, or the other way around. Also, having one account for two types of funds might make it difficult to keep track of your revenue.

It Might Be Difficult to Get a Loan

Having a separate account for your business means it will have its own credit score. So, by building a financial history with its revenues and expenses, you will basically create a financial print and identity that lenders can assess and evaluate. In case you will need a loan, this will be very helpful and will make the process easier. Also, your chances of getting that loan application approved will raise, since your business will appear more trustworthy and responsible in the lender’s eyes.

You Could Miss Deductions

When it comes to personal versus business banking, it is worth noting that in the position of a business owner, you could benefit from various tax deductions that aren’t accessible to regular individuals. On that note, you have to be doubly mindful when you analyse your financial documents to pinpoint what you could deduct from your business.

In this respect, if you cannot make your choice between personal versus business banking and you choose to combine the two, it can be rather difficult to select the individual deductions for your firm. In this situation, you could easily miss a range of deductions you would actually be entitled to take advantage of. In other words, you might be paying more taxes than you should: who wants that, right?

In this view, by trying to keep everything separate and organised, you won’t have any trouble with identifying the deductions you could get by running your business.

The Bottom Line

So, these are the top aspects that shouldn’t miss your attention when you’re evaluating the personal versus business banking situation. As you can see, there are plenty of benefits that a separate account can bring to your business. This might not seem as important at first, but once you start to experience the effects, it will be life changing for your business.

Also, on a final note, if you find yourself in need of financial support, visit our website at and have a look at our available offers! Your business needs the most reliable financial solutions, and that’s exactly what you can find with us!
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Should I Hire Business Loans Brokers?

The banking industry is full of people offering their services to customers. Business loan brokers are one of them. If you are a commercial client, a representative of a corporation or a company seeking to expand or develop your projects, then you may be looking for a business loan. But with the problem in getting a loan is that banks may be unwilling to grant the loan you need. There are also times that some lenders can offer better terms but you don’t know where to find them. That is why many borrowers, especially companies use business loan brokers to find the right lender and achieve their business goals.

What do business loan brokers do?

A business loan broker acts as middlemen between businesses seeking loans and lenders offering commercial loans. They can advise you on how to deal with potential lending problems based on their own knowledge and experiences. They offer valuable information to clients not only in the process of seeking a loan, but in handling future financing problems that may arise.

What are the things that a borrower like you should look for in a commercial loan broker?

1. Solid finance and business education

A good commercial loan broker must know the ins and outs of financing and the way business works. Without a solid understanding of finance and accounting a loan broker may not be able to understand the way business loans work and your specific financing needs. This means that they must know how a business is run. They should also have a practical understanding on how bookkeeping is done and how the accounting records of your business are kept.

Business loan brokers will assess the financial health of your business and describe it to your potential lenders. They also know their duties and responsibilities to you as their client and they know how to put your needs first before negotiating loans in your behalf.

2. Work experience

How long has your loan broker been working in a financial institution? Was it long enough to properly gain knowledge and experience of the financing industry? You can look for in-house loan brokers in well-established commercial loan brokerages. They train their brokers about the basics of the banking and finance industry. They also have experts in the field to guide their new in-house brokers.

3. Right Type of broker

If you want to get someone who will act in between you and the lender that helps businesses seeking funding, then you should specifically look for business loan brokers and not just any broker. Loan brokering is not limited to commercial loans. There are mortgage brokers who work with potential homebuyers looking to find mortgage loans with the most favorable loan terms. They are looking for the best deals in the tightly regulated mortgage industry.

There are also loan note brokers for businesses that are selling their outstanding invoices to investors who are willing to buy their notes. Loan note brokering requires exceptional skills in finance analysis.

4. Knowledge in loan processing

Commercial loan brokers must know the loan processes. They need to learn how the loan process works so that they can easily and quickly complete the documents required by the lenders and submit them on time. They should know how to put together the necessary loan information such as credit report and appraisals. Business loan brokers usually make a spreadsheet to compute your debt coverage ratio, review current debts and tax obligations and other important financial details that will affect the amount of loan you can get. They must also know the technicalities in loan application, such as formatting and properly filling out the loan application.

5. Manner of offering services to the public.

How does a business loan broker offer his or her services? Some of them work as an independent contractor while others prefer to work at a brokerage firm. If you want to get someone who has a credible background, you can go for people working for a reputable firm. But, remember that they charge a higher fee because brokerage firms usually take a portion of the brokers’ commission.

6. Professional or License holder.

Get someone who has a license to operate as a loan broker within your city. If the city does not require a license, you can check if he or she is a member of banking industry organizations or any professional organization related to business and finance.

7. Reasonable commissions

You will pay the commercial brokers for their work the moment the financing institution accepts your proposal.

The commission is usually calculated as a percentage of the value of loan. Fees typically range from 0.5 up to 10 percent of the brokered loan. You may also have to pay for an application fee, which is typically around a thousand dollars or more. Make sure that the broker gives you a comprehensive fee structure before signing your written agreement.

Do you need a business loan? ALC Commercial can give you the best business loan deals without having to go through the process of hiring business loan brokers. Consult us today to get the most favorable deal available for you. Click on the link below.
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Ultimate Checklist of What You Need To Start Your Own Small Business

Are you interested in creating and growing a new business? If so, congratulations! You will soon play a major role in the country’s economic growth, since small businesses are considered as the lifeblood of the country’s economy, not only because of the revenues but its major role in job creation. But, before you head on to the entrepreneurial life, here’s a checklist of what you need to start your own small business.

Your potentials as an entrepreneur

It is not enough that you dream of owning a business. It is your ability to manage a business that really matters. People who never owned a business, and lacked the managerial skills and experience often face difficulty in starting a new one. For this reason, it is advisable to make a self-assessment and determine your willingness to face the challenges and demands of becoming a business owner.

Know your weaknesses and try to find ways to balance them, with your strengths. For example, expert finance advisers and reliable staff can compensate for your lack of experience. An expert manager can make up for your lack of management skills. Trainings and external resources can make up for your lack of formal education in business. On top of it all, you can use your inherent leadership and organizational skills, plus your personal experiences in life to be a good entrepreneur.

In a nutshell, taking time to understand your personal characteristics and the demands of owning a business is vital in helping you find the type of business that would suit you best. It would help you set realistic expectations of yourself in terms of skills to be acquired, resources and motivation you need to start your business.

Practicability of your business concept

What do you know about your business? Try to do some research as to what makes your business idea unique, and the potential risks and benefits of your business concept.

Start with the type of product or service that you will offer to the market, your target customers, and the reasons why customers should buy from you. It is also important to determine how the customers would know about your product and how they will pay for it.

Write down your competitive advantages and potential problems that you may have to face and specific strategies to overcome them. Most importantly, you must have the skills or capability to provide the product or service. Always remember that you can never give something that you do not have.

Legal requirements

Your business must meet the regulatory requirements of Australia. You may have to obtain special permits depending on the nature of your business and state regulations.

Take steps to ensure that you do not violate some city or state regulations and ordinances like zoning, building, fire and health provisions. It is also advisable to make a trip to the revenue office to know more about tax rules that apply to your business.

Business financing

Every start-up has its own investment requirements. Do you have enough money to cover the start-up costs, operational and equipment list and other funding needs? This is where financing comes in. ALC Commercial offers business loans that can help you meet your cash flow projections and monthly expenses.

Learn more about what you need to start your own small business by talking to our in-house loan experts at ALC Commercial! Call 1300 886 996 or click on the link below to make an enquiry today.

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Common Things that Might Get Your Business Loan Application Rejected

Did a lender reject your request and you have no idea why? Don’t worry; you aren’t the first person to have this happen to them. No matter the reason for borrowing money, lenders have the right to accept and reject an application as they see fit. If they aren’t sure that you’ll be able to repay your loan (your word isn’t enough), then your business loan application will most likely get rejected.

Here are some typical circumstances that might get your application for a loan rejected:

1. You have bad credit

Sure, there are lenders that might give you bad credit loans, only by looking at your income and your potential to pay back what you borrowed. However, most banks will look at your credit history to see how credible you are. If you didn’t pay your past debts, then how are they certain you’ll be able to pay the current one? Before this becomes an issue, you may want to check in with your lender and see if it’s worth handing in a business loan application.

2. You have problems with your cash flow
While not all banks pay attention to your credit, they will certainly pay attention to your cash flow. And let’s be honest, would you accept a business loan application if the company in question seemed to be running into the ground? Sure, every business will have cash flow issues now and then – but if this happens way too often, it will raise the red flag at any bank. They will simply “tell” the bank that you aren’t in any position to make repayments on your loan.

3. You don’t have enough collateral

Most banks need some security when handing out a business loan – something to guarantee that they’ll have some means to recover that money if you aren't able to pay the loan. Therefore, if you do not own assets such as a home, a car, a retained income or something similar they can use, you have all the chances of having your business loan application rejected. Before applying, you may want to use your assets as security. If you are confident that you’ll be able to pay the loan, then this shouldn’t make any difference to you.

4. You applied to the wrong lender

More often than not, your business loan application got rejected simply because you didn’t go to the right lender. Considering your circumstances, while a bank may not accept your business loan application, you may be more successful with an alternative lender. Indeed, you may have to pay a slightly higher rate, but considering your borrowing power, such a loan is better than nothing. You may want to visit to check for a good business loan option. We offer convenient options to borrowers that are in a bind – just like you are.

A business loan application is generally rejected because you did not meet certain criteria. Instead of “window shopping” for a loan that will meet your current issues, you may want to improve your situation instead. If you have a positive credit profile, you’ll know for certain that you will be able to make the repayments.
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Bankrupt But You're in Need of a Business Loan?

Business loans can help you out of a financial problem related to your business. It’s bad enough that you’re in a financial crisis, but when it also affects your company, it’s time to take some action.

What Can You Do If You Are Bankrupt?

Many businesses, small or big, can face bankruptcy, so it’s not really the end of the world. All you need is to make a plan, think of your options and decide what the best course for you is. In the case of bankruptcy, you can apply for a business loan and get the much needed financial help.

But be careful. A business loan doesn’t mean that it will solve all your financial problems. Not even several business loans can do that. You will need to form a plan to repay the loans plus the interest, or you will risk losing more than just your business. Talk to a counsellor about getting such a loan and see what options you have.

The “B” Word

Many lenders and businesspeople fear the word bankruptcy. For the latter, bankruptcy means a financial shutdown and failing as a businessman. In the case of the former, when a bankrupt businessperson comes asking for a business loan, it may indicate a high-risk request. The lender will either refuse such a request or apply some restrictions to it.

But luckily, not all lenders see it that way. Some may apply some limitations, yes, but you can still get that loan to help you however you see fit.

What Kind of Restrictions Can You Expect?

Well, business loans come with higher fees and tax rates. Also, the lenders from which you can request such a loan are limited, since not all of them can cover this type of loan. The ones who can accept business loans can also be limited by the kind of business you control and your credit score.

The truth is that when it comes to bankruptcy, things can get tricky and complicated. Add to that your business loan, your assets, other debts, etc. and you will know why a lender will take some time to tell you if you are eligible for this type of loan or not.

Can a Business Loan Help You?

Such a loan can help you, but it depends on how you spend the money. Some business loans can go up to five hundred thousand dollars. Most of the businessmen see that money as a form of investment in their companies.

Others will want to use a smaller business loan to pay their employees, debts, and taxes that are tied to their companies. Some will also end it with the bankrupt company and start from scratch.

It’s up to you to decide how you use that money, but it is best to ask some experts on how to tackle such a delicate situation.

The best options may not be that obvious so keep an open mind.

Business loans can be helpful, especially if you are in a critical financial situation. But you need to know how to use the money in a smart way, unless you want to pay more debts and get nothing in return.

If you're in need of a business loan while being bankrupt, call ALC Commercial for a free consultation on 1300 886 996 or click on the link below to enquire today!
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Tips to Reduce Interest When Getting a Business Loan

Business loans make it possible for entrepreneurs to get quick access to funds, regardless of the purpose those funds will serve in the future. While these loans are fantastic, the interest rates they come with can make one’s pulse accelerate.

“Money for money” is a redundant principle in finances, but when you ought to pay back a lot more than you borrowed, you start cursing it under your breath. What if you’re told that there are ways in which you can cut these high-interest rates on business loans? We’ll present you a few alternatives.

How to Get Lower Interest on Business Loans

Companies like offer very good interest rates that are attractive for the average Australian. You can use the methods below, or you can directly use our services – it’s a win-win either way.

1. Consider refinancing

When you took your previous business loan, it might’ve been the best option. But that was back then. If you start looking for other offers, you won’t help but see how much things have changed. There are other business loans with interest rates you wouldn’t believe.

Maybe it’s time to make a change for the better and refinance for a business loan that will allow you to put some good money aside. And all this while maintaining a good cash flow in your company. Food for thought. Start looking for some options on the Internet, and you’ll definitely find better deals in as little as 10 minutes.

2. Take a loan from a credit union instead of a bank

Credit unions always had better interest rates than banks, and that’s because these unions are non-profit organisations. You could get a business loan for a lot cheaper than you’d get from a bank.

What makes taking a loan from a credit union even more appealing is the fact that you could establish a plan with the lender, so you won’t even need to pay any interest. This works when you offer that particular lender a periodic bonus of a certain percentage of your profit.

3. Make more than one payment per month

For instance, make a bimonthly payment. You will reduce the term of the loan (which will enable you to pay it faster), as well as the interest rates that are perceived on your loan. The best perk of doing this is, of course, that you’ll pay the debt in a shorter time. Plus, you’ll be able to invest your money in truly productive things.

4. Use crowdfunding

If you get the funding you need from crowdfunding, you won’t have to pay any interest whatsoever. At least not in the common sense of “interest” – in most cases, you will have to pay a certain amount of money to the platform on which you’ve been crowdfunded.

Anybody can implement any of the four methods above in order to cut down interest rates. Some are easier to do, others are more difficult, but the outcome is the same. Now you know what to do when you’ll take your next business loan.

If you need any free advice about business loans, call ALC Commercial on 1300 886 996 or click on the link below.
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How Bad Credit Business Loan Can Help You Adapt To The Competitive Environment

How can your business adapt to the competitive environment during difficult financial conditions using bad credit business loans?

A business can only continue if the organisation can survive under both good and bad financial situations. Failure to adapt can lead to poor productivity, reduced profitability and sometimes, bankruptcy. There are also limited numbers of loans specifically addressing business needs under difficult financial conditions. And, not all lenders are able to respond to business jolts such as having a bad credit rating, hyper-competition and poor business turnaround.

Here are good reasons to use bad credit business loans to stay on top of the game despite your financial worries.

It augments your resources. Using the resource-based view school of strategy, the only limitation of your business when it comes to competitive advantage is its own bundle of resources. Are these resources at your disposal? How far can you stretch it to have a competitive advantage over your competitors?

Bad credit loans fill the gap in your resources so that you can still enjoy your business’ dynamic capabilities or your ability to adapt to the changing business environment by doing the following:
• Developing resources: It is otherwise known as resource management.
• Stretching out resources
• Extending competences

Regardless of your business size, you have internal resources like the following:
o Human resources
o Financial
o Physical
o Knowledge

Your resources enable your firm to accomplish its business processes.

That means- your staff, your inherent knowledge and skills, branding, facilities and your products or services keep your business going. With the right amount of money, you can hire new staff and provide training to your existing ones. You can also attend seminars to increase your knowledge in running the business and improve the quality of your products and services. And of course, you can update your facilities.

It improves efficiency. Bad credit score is a dilemma in itself. With limited loan options, some firms have to cut costs which often lead to reduced capacity that staggers its performance. A competitive business has to adapt adequately during hard times so that it can face the pressures in a competitive market and embrace long-term opportunities. In short, bad credit loans makes a business ‘dynamically efficient’ or one that is able to survive and compete during shifting circumstances.

It helps you turn your business around. It stops your business from declining and then improves it. You cannot take action without the money for your business operations. Turnaround attempts may be unfruitful especially when you have to lose some of your employees, suppliers or even customers because you have to downsize. Remember that bad credit can trigger decline in business performance. But, with ALC Commercial’s bad credit business loan, you can witness ‘Turnaround situations’ right before your eyes as you use the money to settle your outstanding debts, and finance your strategies to boost your company’s performance.

Learn more about bad credit business loans and how it can help your business become more competitive than ever by contacting ALC Commercial today! Follow the link here:
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Business Consolidation Loans: Catalyst for Small Business Success

Every business meets three catalysts for success: threats, pressures and opportunities. The key is to respond dynamically using finance tools, like business consolidation loans, not only to survive but to come out strong as your business improves.

Here are tips on how to maximize the performance of your business during the toughest times:

1) Identify the catalysts for success. When you feel overwhelmed with your financial struggles in business, look at it from a different angle. Treat the threats of failure as an inspiring motivator to do better. Well-managed pressures from employees, partners, customers and competitors can also stimulate good performance and optimize productivity. It is also important to look at fresh opportunities as what they are-chances for growth and increased profitability.

In business, you cannot win at all times. Failure is a part of the business cycle. What is important is that you learn from your failure and do everything you can to prevent it from happening again. As a business leader, it is your responsibility to protect the interest of your company, your partners (if any), your employees and the customers. Avoid repeating the crucial mistakes that may have caused your debt issues.

Here are some areas that you may have to look into:

 Internal management: Good management is the backbone of every business. It is where strong or weak strategies and decisions emanate.

 Positive cash flow. If your balance sheet tilts towards the debt side, why don’t you apply for business consolidation loans? ALC Commercial offers reasonable loans that can help you pay your creditors, staff, suppliers and partners on time. It could also inject cash into your working capital so you won’t miss deadlines, or even opportunities for expansion or even discounts.

2) Evaluate your business strategies in the past two years. Is your business strategy strategic enough? Or do you need a turnaround plan?

If your business strategies made you lose money, compromise quality and miss payments on existing debts, then it’s time to look for a better plan. A new strategic business plan should include designs on how to convince your customers and staff as well as creditors, partners and investors to stick with you. Develop a turnaround plan that will not only save your business but grow it at the same time. It may include getting a business loan to help you pay off your debtors and start off with a clean slate.

3) Take advantage of the benefits of business consolidation loans. Sometimes, you need to make some changes in your planning in order for your business to move forward. It may include some improvements in the manufacturing or service operations; in which you have to make some adjustments in the location of your business, facilities and equipment, labor force, and some aspects in the management and organization. All those actions require funds. That’s where business loans from ALC Commercial come in. Get things done, the right way this time with the right amount of cash.

Click on the link below to learn more about business consolidation loans offered by ALC Commercial. Call us today on 1300 886 996 or enquire here today!
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3 Important Steps to Prepare for Business loans

Obtaining the right business loans isn’t easy, but with the right steps, you’ll surely end up with a good one. Here’s how.

Design a profit-oriented business plan. Do you have a solid plan for your business loan? The best way to ensure that you will eventually profit from your business strategies where your loan will be used up is to determine the purpose of such loan.

When you intend to use loan proceeds to increase the sales and profitability of your business make sure you have a concrete plan on how to do it. Merely saying that it will be used to support your company’s goals will not be enough. Lay down all the programs you have in mind, the activities, tools and even the manpower you need to get it done. Allocate all the funds to each of those activities. Any extra can be used to support your other goals.
A business plan typically includes the purpose or statement of your business, the names of its owners or partners of the business. It also states how you intend to make profit and all the financials statements such as profits and losses, proof of insurance and other related items.

Here are the practical reasons why a business needs a business plan:

1. Writing a business plan helps to launch your whole business. It is the sketch of what you view your business to be in a few years’ time-near future. They are originally made by those who are just newbies to the business world. But even the veterans make a plan because it helps establish different strategies that help convince investors to put in money into their businesses.

2. When starting a business, many factors should be considered. Even the smallest details should be taken into consideration because even the tiniest flaw could cause the downfall of your entire business. We’ve got to admit that every once in a while we have our perfectionist selves and insignificant things would bother us. Determining these factors can help you develop your business as well as finding the faults even before launching it.

Get a copy of your credit report

You are entitled to a free copy of your credit report from the three major credit reporting agencies in Australia each year. Below are some of the reasons why a business or business owners need to check their credit report:
Your credit file records all your credit transactions. It serves not only as a record for tracing your purchases and services charged to specific accounts, it also helps you spot the following:

Overdue accounts. When was the last time you paid for your monthly bills-such as telephone and cable bills, magazine subscription or gym membership? Even if you lost your receipt, it can serve as a proof that you have actually paid off an account, or a proof against you that you missed your payments.

Dormant accounts. How long have you been keeping your credit card which has not been touched in the recent years? Are you still paying for its balance or you decided it’s time to cut it out, or close your credit card?

Identify theft. Have you been paying for debts that do not belong to you or for purchases you never made? Your credit file will show it all. It will also help you alert the authorities to stop these illegal activities and help others from becoming victims themselves.

Some credit accounts that don’t belong to you. Data entry errors, wrong credit information and other mistakes made by the information provider can be very costly—you may have to pay a few dollars or thousands of it for debts that were wrongly entered into your accounts.

Research your borrowing options

With the number of lenders out there offering business loan, it is important to choose the right one. Here are features to look for in a business financing company:

1. Reliable. It has a track record of delivering exactly what it has promised to provide.

2. Consumer-friendly. You can seldom find a loan that is especially tailored not only to your financing needs but on your personal situation as well. But, there are lenders like ALC Commercial who find time to ensure that you will get exactly the type of loan that you can afford to repay within your chosen time frame.

3. Value-oriented. A lending company that cares for its clients offers products and loan terms that promote wealth accumulation, instead of debt-accumulation. When your lender ensures that you have the right financing to meet not only your emergency needs, but sufficient funds to help you start or grow or save your business you found the right one.

Are you planning to apply for business loans? Check out ALC Commercials business loans available for you. Make an enquiry today!

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