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Can you help me with a business loan?

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Absolutely, I have many commercial lenders on my panel that can assist with a business loan. It is important when applying for a business loan, to prepare a detailed business plan and fully inform the lender about your proposed venture. This information will help the lender assess the application and more importantly show that you have also spent time and researched the proposal.

This principle also applies if you are purchasing an existing business however we will be able to look at the business financials and have historical figures on how it has been operating.

There are a number of things to consider before we approach a lender; how much do you need to borrow; what type of loan will you need; how long will you need it for; can the business afford to repay the loan, interest and any one-off or ongoing fees that come with the loan; what security can you offer the lender and how this affects the interest rate offered.

You also need to be able to assess the level of cash flow or business risk in your specific circumstances. A projection of the cash requirements of the business is most important to a lender, as it is the actual cash left after expenses that will repay the loan, not income. It also shows you are an effective manager.

As a general rule, lenders look for the level and nature of your security (what you're offering to give them if you can't repay the loan). They also look at your ability to make regular loan repayments (cash flow risk) and your ability to ultimately repay the debt (business risk), including any other debts you might already have.

Commercial lending can be complex so it often helps to have somebody like myself package and explain what the loan requirements are to the lender so that we have the best chance of an approval.

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