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Commercial finance refers to a type of finance used by businesses and corporations to fund their operations, expansion, and other activities. In Australia, commercial finance options are available through a range of financial institutions, including banks, non-bank lenders, and other specialised finance providers.
Some common types of commercial finance available in Australia include:
1. Business loans: These are loans that businesses can use to finance various activities, including working capital, purchasing equipment, or expanding their operations. Banks and non-bank lenders offer business loans in Australia, and the terms and interest rates can vary depending on the lender and the borrower’s creditworthiness.
2. Invoice financing: This type of financing allows businesses to borrow against their outstanding invoices, which can help improve cash flow and provide access to working capital. There are several invoice financing providers in Australia, including traditional banks and specialised finance companies.
3. Asset finance: This type of finance is used to purchase or lease equipment or other assets for a business. Asset finance can be provided by banks or other finance companies, and may include options such as hire purchase, leasing, and chattel mortgages.
4. Trade finance: This type of finance is used to support international & local trade, including importing and exporting goods. Trade finance can include a range of services such as letters of credit, paying local and overseas suppliers.
Overall, many different commercial finance options are available to businesses in Australia. The best option for a particular business will depend on their specific needs and circumstances, as well as their creditworthiness and financial history.
It is recommended that businesses seek advice from an experienced and reputable financial professional to navigate the various options and find the best financing solution for your businesses needs.
At Pfitz Financial & Business Solutions we have extensive expertise in commercial finance. Contact us today, to see how we can help you grow your business and meet your financial needs.