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Business Loans for Self Employed

There are a number of reasons why business need a Loan, and
There are a number of different types of Business Loans.
We can help you match the purpose with the right Loan and Lender.
Plus Tips and Advice for Businesses applying for a Loan.

Complete Business Loan and Money Solutions

Self Employed Business Loans

Business Loans are un regulated, which means there is no protection under the U.C.C.C.

Many businesses fail because of lack of cash flow and have their money tied up in expensive plant and equipment, even vehicles.

Loans Australia has information on the different Business Loan types, and allows you to compare different lenders products.

There are also Business Loan Lenders and Business Loan Bokers advertising on this page and throughout the website that may also be able to assist you with your circumstances and business profile.

Business Loan Definition

What is a Business Loan?

A Business Loan is defined by the government, and the various departments, including the Tax Office, as not being a personal Loan.

A Business Loan therefore is a loan where the purpose and benefit is less than 50% for Personal Use. To say that another way, The Loan is going to be predominantly for non Personal use.

As a consequence, there are some things to keep in mind or know:

A Company (Pty. Ltd.) that has an ACN, can borrow money in the Company name
A Business that has an ABN, can not borrow money. The loan will be in the name of the proprietor
If there is a trust involved, the trust name is included

It is still possible to have a business loan, and not own a business or company. An example of taking a business loan out would be if you were a salesperson and on the road everyday, using your own personal car. You could have a Hire Purchase business loan and claim the use of the car and the payments etc. against your personal tax liability.

Business Loan Purposes

What are the Reasons for a Business Loan?

Business Loans are available for different situations, and most will be secured over assets that the business owns.

Some of the most common Business Loan purposes include:

Business Loan for Plant and Equipment
Business Loan for Purchasing Stock
Business Loan for Cash Flow
Business Loan for Premises

This is a non exhaustive list of some of the business loan purposes that a business loan is used for.

Business Loan Purposes

Business Loan Types

What Are the Types of Business Loans?

There are basically 3 Business Loan Types.
These all have different purposes, different Tax implications, and differ in who owns the goods.

Chattel Mortgage or Goods Mortgage - designed to optimise cash flow and reduce impact of GST
Hire Purchase - Title passes to the borrower once payments made
Lease - a rental agreement and the Lender always owns the goods under the agreement

Before taking a business loan out it is recomended that you speak with a tax expert or an accountant that is familiar with your business and wishes.

Business Loan Types

Apply for a Business Loan

Business Loan Application

There are Business Loan Lenders and Business Loan Brokers advertising on this page, and may be able to assist you with the type of business loan you are after and for the Business Loan Purpose you require with your profile.

Apply for a Business Loan

Business Loan Tips and Guides

Tips and Advice for people in Business

Business experts and Business Loan specialists have provided Loans Australia with many articles giving valuable information on Business Loans and advice on matters relating to business Loans.