Types of business loans

Every lender has a slightly different checklist. Our brokers will do the heavy lifting for you, but if you’re heading in solo, here’s the standard toolkit you’ll need to have ready:

• Who you are
  
  • Legal business name
  • Your Australian Business Number (ABN)
  • Business address and contact information
  • Ownership type of company
  • Current owners
  • History of company
  • Photo ID, like your passport or driver’s license
  • ID documents, like your birth certificate or Australian citizenship certificate
• How healthy your business is
  
  • Gross annual revenue
  • Tax returns and assessments from the last two years
  • Company tax returns (past two ears)
  • Client account documents
  • Balance sheets and/or profit and loss statements (past two years)
  • Proof of income, like payslips orletters of employment
  • Business banking account number and balance
• What you own (and can be used as collateral)
  
  • Physical assets, like land, building, equipment, or vehicles
  • Financial assets, like stocks, bonds, or crypto
  • Intellectual property, like patents owned
• How your other business ventures are doing, if any
• What you owe
  
  • Debts, like leases, overdrafts, loans, taxes, or any other financial obligations
• How you will be repay your loan
  
  • A well thought-out budget
  • Cash flow analysis including debt payment schedule, accounts payable, and accounts receivable

Got questions? Ask us. We’ll cut through the noise so you can move forward with total clarity.

The right loan for you depends on where your business is at and what you’re looking to achieve. Our lending experts are trained to help you identify the best solution, lender and rate for your business so you can move forward with confidence.

We offer a wide range of lending solutions for SMEs including asset finance, cash flow finance, vehicle and property loans, and we’ll take the time to understand your business to find the perfect solution for you. For more information on the different types of finance available, visit our blog or call us on 1300 780 568.

Valiant works with over 90+ bank and non-bank lenders. Our lending panel has doubled in size since we started helping businesses back in 2015. Because we do not exclusively represent a single lender, we are able to offer a wider range of loan products from our partners and find our customers a tailored solution and competitive rate.

We currently offer:

• Debtor financing – Leverage unpaid invoices by passing debt onto your lender.
• Merchant cash advances – Pay your lender with future sales.
• Commercial property finance – Can have several variants for the purchase or development of commercial property.
• Overdrafts – Usually attached to a bank account, an overdraft facility lets you withdraw a set amount of funds even when the account itself has reached zero.
• Lines of credit – A line of credit is an amount of money your business can withdraw at any time, similar in some ways to an overdraft, but it is not attached to a bank account.
• Business credit cards – A business credit card works just like a personal credit card where you earn points and rewards, but is designed specifically for business purposes.
• Equipment finance – Allows a business to purchase equipment or vehicles to increase output, produce better products, increase its bottom line, or propel it ahead of the curve.
• Unsecured business loans – Loans—usually short-term—that do not require any collateral or security.
• Secured term loans – Loans that requires an asset on the part of the lender as guarantee.

Some loans are ‘secured,’ meaning you use an asset—like a van or a commercial property—to back the deal. It gives the lender more confidence, which usually means a better rate for you. As a borrower, having an asset on the line is a good incentive to make repayments on time.

Whether a lender asks for collateral usually comes down to your business track record and credit score. Putting your best foot forward and showing off a solid reputation helps you land better loan terms.