BUSINESS LOANS

Every business is unique.

We love working with business owners to find the right solution, whether that's to solve a problem or to go and put the building blocks in place for growth. The one thing that we make sure that we do is not to treat every business owner the same.

We want to help you grow.

Find the right finance to fuel growth.

One of the biggest opportunities many small businesses struggle with is finding the right business finance to fuel growth. Aligning the right loan to your needs, both short and long-term, isn’t easy. There are many different sorts of loans, with multiple products for each type offered by most lenders. It takes an experienced professional to navigate business finance, and that’s where we come in.

Our role is to ensure you have the right finance solution that works for your business and what you’re looking to achieve long term. We bring choice and competition to the table and take the pressure off, allowing you to do what you do best – growing your business.

Commercial Property.

We understand that there is more to property investment than just residential assets. We work closely with our clients looking to diversify their property investment portfolio across all property sectors. We’ll work with you and your advisors to ensure the deal is structured to get the best long-term outcome based on your long term strategy including using your Superannuation if that’s what is best for you. Every property transaction is different, while interest rates and fees are important, we’ll also look at limited and non-recourse loan structures part of our negotiation with lenders on your behalf.

High-level process/steps

We’ve simplified the process for you.

STEP ONE

Initial Enquiry

First step is always a phone call so we can understand more about your business and what you are looking to achieve with the proposed finance. From that call, we’ll come up with a detailed list of the supporting information we’re likely to need from you and your Accountant and request these through our secure document collection portal. This may include sending our Credit Guide and Privacy Consent for you to review and execute electronically + getting you to complete our Online Fact Find so we understand your current financial position prior to starting to work through the options available. Ideally, we want to have a thorough understanding of your deal prior to any discussion with lenders.

STEP TWO

Initial Assessment

Once we have your completed Fact Find + Credit Guide, we’ll asses the options available. At this stage, we are focused on understanding your strategy and finding the suitable loan structure. Everything during initial assessment is about your Broker making sure there are no obvious issues you need to be aware of and helping you to understand how lenders are going to view your financial position and how a potential deal can be structured – We do this by preparing a Discussion Paper for all lenders to review. We’ll be working with lenders at this stage to workshop your deal and have them come back with indicative terms and likely approval conditions for your review so we can lock in the shortlist of lenders that best fit what you need.

STEP THREE

Formal Assessment

Every commercial lender will have different requirements to secure an approval. Based on our discussions during the deal workshops with lenders, we’ll have a detailed list of any supporting documents the lender requires to submit a thorough application. Your Broker will request the specific supporting documents we require through our secure document collection portal, FinanceVault. Once all supporting documents are held, we’ll prepare and submit detailed Loan Proposal outlining your business strategy and our analysis of your financial performance / projections to ensure we can progress through the application process as quickly and smoothly as possible. Your Broker will prepare all loan applications forms and keep you updated as we work towards securing your finance approval.

Video Advice Delivery
We’ve tailored our service to avoid unnecessary time wasted during the loan application process. We understand that when you need to borrow, it needs to happen as quickly and simply as possible. At Initial and Formal Assessment, your broker will send you a video to watch explaining your personalised strategy and recommendation. We want to you be able to watch (and re-watch) so you can be comfortable when you are ready to progress.
While you are watching the video, please write down any questions you have and either email them through or call to discuss – We have all the time you need to discuss any questions. Where you would like to see a variation to a scenario in the video, it’s simple for us to make an adjustment and send the updated summary for you to review. Of course we’re always here if you want to meet in person at our office or a video call, but we can also get your deal done without needing to schedule a formal appointment if that makes the process simpler for you.
Identification Process
Prior to Initial Assessment, we need to have completed your identification process. We use a remote identification platform called ID You (https://www.idyouapp.com.au/). Once we receive your completed Fact Find, you will be sent a separate link by text message asking you to upload identification into this portal.
Once we have received everything through the portal, your Broker will arrange a time to complete a video call using ID to complete the identification process so we can get to work.
Working with your Advisors
Where you have existing Accountants, Financial Planners and Lawyers assisting, we can work with them directly to reduce the admin burden through the application process. Ideally, we’ll get you to make an introduction as early as possible and provide authority to share information so we can reduce the admin burden on you during the application process.
Where we are requesting information, we’ll invite your existing advisors to upload information to our secure document collection portal – You’ll be able to view / access everything as it’s uploaded.
Bank Statements
When we get to Formal Assessment for your deal, we are required to assess your living expenses as part of our compliance requirements. Your Broker will request these through our document collection portal, FinanceVault.
When we are submitting your loan application lenders will have varying requirements from not requiring any Bank Statements to supplying 90 days history of every account you hold. To make the document request as efficient as possible so we hold enough information to accurately supply the bank with your living expense information and hold the required documents to meet all lenders submission requirements, we use Illion’s Bank Statement retrieval tool.
This will provide us with your most recent formal statements and also, a categorised expense report – Having access to this ensures we are thorough in our assessment and leads to much faster decisions. Below is a link to review how this works and a summary of the security that Illion have in place when you are using this tool. If you have any questions about this, please contact us and we’ll work to make sure we are collecting the required bank statements as securely and efficiently as possible.
To find out more about the Bank Statement download process, follow this link: https://bankstatements.com.au/

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If you’re looking for a home loan, Front Row Financial Management is here to help.