{"id":1106,"date":"2023-05-31T13:11:49","date_gmt":"2023-05-31T03:11:49","guid":{"rendered":"https:\/\/daxcel.com.au\/?p=1106"},"modified":"2023-05-31T13:11:49","modified_gmt":"2023-05-31T03:11:49","slug":"how-to-apply-for-a-business-loan","status":"publish","type":"post","link":"https:\/\/daxcel.com.au\/how-to-apply-for-a-business-loan\/","title":{"rendered":"How to apply for a business loan"},"content":{"rendered":"\n<figure class=\"wp-block-image size-large\"><img fetchpriority=\"high\" decoding=\"async\" width=\"1024\" height=\"683\" src=\"https:\/\/daxcel.com.au\/wp-content\/uploads\/2023\/03\/4ijhNl2FZumA2eWCaq4wOK-pexels-andrea-piacquadio-3760067-1024x683.jpg\" alt=\"\" class=\"wp-image-1107\" srcset=\"https:\/\/daxcel.com.au\/wp-content\/uploads\/2023\/03\/4ijhNl2FZumA2eWCaq4wOK-pexels-andrea-piacquadio-3760067-1024x683.jpg 1024w, https:\/\/daxcel.com.au\/wp-content\/uploads\/2023\/03\/4ijhNl2FZumA2eWCaq4wOK-pexels-andrea-piacquadio-3760067-300x200.jpg 300w, https:\/\/daxcel.com.au\/wp-content\/uploads\/2023\/03\/4ijhNl2FZumA2eWCaq4wOK-pexels-andrea-piacquadio-3760067-768x512.jpg 768w, https:\/\/daxcel.com.au\/wp-content\/uploads\/2023\/03\/4ijhNl2FZumA2eWCaq4wOK-pexels-andrea-piacquadio-3760067.jpg 1200w\" sizes=\"(max-width: 1024px) 100vw, 1024px\" \/><figcaption class=\"wp-element-caption\">No matter how you apply for a loan, or who you use \u2013 never take lending lightly. It might get easier to take on debt but that doesn\u2019t mean you should. Here&#8217;s some thoughts to remember when applying for a business loan.<\/figcaption><\/figure>\n\n\n\n<p>Need some extra cash to take your business to the next level, but daunted by the loan process? You&#8217;re not alone. There&#8217;s a lot of paperwork and number-crunching involved.<\/p>\n\n\n\n<p>Before you get started, remember that banks wants your application to succeed as the interest you pay is a vital revenue stream. So it\u2019s up to you to make their job easy by turning up with a good business case.<\/p>\n\n\n\n<p>Connect the dots for them. While banks are experts in money, they\u2019re not necessarily knowledgeable about your area of business. Remember to present a clear story and demonstrate clearly how the loan will unlock business growth which will ultimately ensure the bank gets paid back.<\/p>\n\n\n\n<p>When applying for a business loan, ensure you have:<\/p>\n\n\n\n<ul>\n<li>income statements and balance sheets for the past two years<\/li>\n\n\n\n<li>up-to-date financial statements<\/li>\n\n\n\n<li>business plans or project plans to show the direction your business is taking<\/li>\n\n\n\n<li>tax returns to verify your income statements<\/li>\n\n\n\n<li>bank accounts, also for verification<\/li>\n<\/ul>\n\n\n\n<p>If you use cloud based accounting software, the platform will produce much of this information on demand, including:<\/p>\n\n\n\n<ul>\n<li>income and expense reports<\/li>\n\n\n\n<li>growth trends<\/li>\n\n\n\n<li>forecasts<\/li>\n<\/ul>\n\n\n\n<p><strong>Talk to us to get advice when applying for a business loan<\/strong><\/p>\n\n\n\n<p>If you&#8217;d like advice applying for a business loan let us know, we can help guide you on the right path and put you in a better business position.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Need some extra cash to take your business to the next level, but daunted by the loan process? You&#8217;re not alone. There&#8217;s a lot of paperwork and number-crunching involved. Before you get started, remember that banks wants your application to succeed as the interest you pay is a vital revenue stream. So it\u2019s up to [&hellip;]<\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"_links":{"self":[{"href":"https:\/\/daxcel.com.au\/wp-json\/wp\/v2\/posts\/1106"}],"collection":[{"href":"https:\/\/daxcel.com.au\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/daxcel.com.au\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/daxcel.com.au\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/daxcel.com.au\/wp-json\/wp\/v2\/comments?post=1106"}],"version-history":[{"count":1,"href":"https:\/\/daxcel.com.au\/wp-json\/wp\/v2\/posts\/1106\/revisions"}],"predecessor-version":[{"id":1108,"href":"https:\/\/daxcel.com.au\/wp-json\/wp\/v2\/posts\/1106\/revisions\/1108"}],"wp:attachment":[{"href":"https:\/\/daxcel.com.au\/wp-json\/wp\/v2\/media?parent=1106"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/daxcel.com.au\/wp-json\/wp\/v2\/categories?post=1106"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/daxcel.com.au\/wp-json\/wp\/v2\/tags?post=1106"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}