Business, Equipment & Home Finance for SMEs
The challenge of cashflow management is nothing new to most business owners! It is a reality they face every day! That said, a combination of: Low economic growth Tighter payment terms Customers paying slower Finance being more difficult to obtain and taking longer to access have all combined to make life even more challenging for [...]
Recently we have noticed an increasing number of business owners either entering ATO Payment Plans or considered it in consultation with their accountants. It could be coincidental; however, it would not be too far- fetched to assume it is in part due to the current economic conditions and tightening of access to credit from lenders. [...]
I was delighted and honoured last week to be invited to join the board of CAFBA, (the Commercial and Asset Finance Brokers Association of Australia). CAFBA is the peak professional body that represents Commercial and Asset Finance Brokers across Australia. What does CAFBA do? As the peak body CAFBA: Works with government and regulators on [...]
Banks pay Commercial Finance Brokers an upfront commission and, in most cases, trail for business they introduce. In the main, the relationship between Commercial Finance Brokers and Bankers works well - however, occasionally because there is an acquisition cost involved, this relationship can be tested. Most often this comes about because of: A lack of [...]
When arranging finance for the fitout of your business premises there are several Fitout Finance traps to avoid. Fitout Finance is complex and specialised. It is easy to make expensive mistakes, or if the Financier is not experienced in the field, waste an enormous amount of time and resources. To help make the process easy [...]
I love assisting my clients with their business premises fitout. There is nothing better than seeing a well thought-out and planned fitout come together! However, business premises fitouts are far from straightforward. A lot can go wrong if not approached the right way! A dream fitout can quickly become a nightmare! Premises Fitout - Critical [...]
I was recently involved with arranging finance for a client who was buying a home that is "subject to lease". That is; the property had tenants and the lease still had some 6 months to run. Subject to Lease – The Ground Rules Change Unfortunately, when a home is “subject to lease”, it can affect [...]
During the Banking Royal Commission there was a heavy focus given to the Banks' use of the Household Expenditure Measure when assessing Home Finance applications. Some Lenders were criticised for over-reliance on the tool, rather than undertaking analysis of an applicant’s monthly expenditure. What is the Household Expenditure Measure? When you apply for Home Finance, [...]
If you use your motor vehicle primarily for business purposes and are thinking about changing or upgrading, download our free eBook - The Motor Vehicle Finance Handbook. For some people a motor vehicle is just a practical tool, for others it is a reward or realisation of an aspirational goal. Whatever the reason, to avoid [...]
If a client of The 500 Group is thinking of purchasing a property, we encourage them to get a Home Loan Pre-Approval. This is particularly important in an environment where property values have been softening and the time needed to get finance approved has increased. A Pre-Approval is not a guarantee the finance will ultimately [...]
