Business Finance Services Australia

—-Top 10 tips for Business Purchasers
Text Box: Top Tips for Financing a Business Purchase * Calculate how much you need. Do not underestimate costs and working capital will be required * Look beyond just the best interest rate. Understand the loan structure, security required, fees and charges * Ensure you have had an independent professional conduct a thorough due diligence on the business * Make a plan to repay debt. If the business can not afford it the loan it is probably poorly structured loan * Listen to advice from industry experts. Do not forget that lots of other people have done this before * Get the right loan structure to fit your specific requirements. Do not just stick to your current Bank, there might be more competitive loans and structures elsewhere * Have your loan approval in place BEFORE exchanging purchase contracts (you don't want to lose your deposit!) OR if you do exchange contracts make sure there is a strong subject to finance clause in the contract * Ensure you have full information on the business including financials, lease terms, staffing, suppliers and———-store history * Prepare a Business Plan and cash-flow projections and ensure you revisit them regularly * Review your borrowings with a specialist periodically to ensure they still are right for you and your evolving circumstances Business Finance Services Australia is very experienced at arranging loans for new and existing business purchasers or owners. Why not give us a call on:(02) 6368 7161 or email us: admin@businessfinanceaustralia.com ————