If your business need access to additional funds for any reason

including new equipment or vehicles, or to resolve cash flow issues, talk to Connect Loan today.

Equipment and Business Vehicle Loans

If your business needs to purchase new equipment or vehicles in order to consolidate or expand operations, Connect Loan can help you find an appropriate loan to meet your needs now and moving forward. Loans are potentially available for businesses operating in a wide variety of sectors, including manufacturing, agriculture, construction and health, and can also be used to purchase most types of vehicles. Equipment and business vehicle loans can offer a variety of advantages, such as being a valuable flexible cash flow solution that also enables you to benefit from instant asset write-off tax relief. In addition, as additional security may not be required and you may not be asked to pay a deposit, this sort of loan can help to free up resources that can be better used elsewhere in the business.

Cash Flow Solutions

All businesses experience occasions when there is a need for improved cash flow at one time or another. It can be that unexpected or seasonal expenses create a short-term problem where you are not able to access the cash you need to maintain operations, pay staff, etc. At Connect Loan, we understand the sort of issues that businesses of all sizes can face, and the long-term impact that can be caused by short term cash flow issues. Speak to one of our advisers if your business is in need of access to additional funds, and we can discuss with you the range of options that might be available to you. This can include business overdrafts that offer you a significant degree of flexibility with regard to interest payments, security, access and minimum/maximum terms, as well as business and equipment loans.

Frequently Asked Questions

There are several types of business loans available, including term loans, SBA loans, business lines of credit, invoice financing, equipment financing, merchant cash advances, unsecured loans, and micro-loans.

The amount of funding you can obtain through a business loan
varies greatly depending on the type of loan, your business’s
financial health, and the lender. Some small business loans can
offer amounts as low as $500, while larger commercial loans
can go into the millions.

Interest rates for business loans can vary widely based on the
type of loan, the lender, and your business’s creditworthiness.
Business loans are generally more costly than residential loans.
So, for example, if the current residential loan is at 5%, you may
presume to pay same or higher than this rate when applying for
a business loan.

Typically, you will need to provide financial statements, a business
plan, personal and business credit reports, tax returns, and legal
documents like licenses and registrations. Requirements can
vary by lender and loan type.

Yes, it is possible to get a business loan with bad credit, but your options may be limited. Some lenders specialise in lending to business owners with poor credit, but these loans often come with higher interest rates.

Repayment terms and options vary by loan type and lender. Some loans may require monthly payments, while others might be weekly or even daily. Some loans may have a fixed term length, while others may be more flexible.

The approval time for a business loan can vary widely. Some online lenders can approve loans in as little as 24 hours, while traditional banks may take several weeks or even months.

Eligibility criteria for business loans can vary by lender and loan type. Common criteria include a minimum credit score, a certain amount of time in business, and a minimum annual revenue.

Yes, you can use a business loan to start a new business. However, it can be more challenging to secure a loan as a start-up because lenders often look for a track record of success and profitability.

Yes, some business loans do not require collateral. These are known as unsecured business loans. However, they may come with higher interest rates and stricter eligibility requirements.

There are several ways to potentially get a lower interest rate on your business loan. These include having a strong credit score, providing collateral, having a solid business plan, showing strong business financials, and shopping around to compare rates from different lenders.

Several factors can affect the interest rate on your business loan. These include your credit score, the length of time you have been in business, your business’s financial health, the current market rates, and the type and term of the loan.

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