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Business Health Check

You can use our health check quiz to see the likelihood your business would be approved for a business loan. Please note,  this is a rough guide only and does not take into consideration all aspects of your business position. For a more thorough assessment please contact us and we’ll give you a call to see how we can assist.

Business Health Check

Smiley approved business loan Looking Good!

Congratulations, the overall health of your business is means it looks likely you could be approved for a business loan.

If you're considering applying and would like to chat with us to answer any quetions, hit the continue button and we can arrange a callback for you today.

Smiley average business health Approval is possible

The health of your business seems about average. There are definitely things to work on however your loan application may be successful with the right lender.

If you would like to chat with us and see if we can suggest a suitable lender, hit the continue button and we can arrange a call for you today to see how we can assist.

Smiley declined business loan Possible Decline

Unfortunately the health of your business is not looking good enough for a successful loan approval.

We'd suggest working on a few aspects of your business to improve your chances of a successful application.

If you would like some assistance increasing the health of your business hit the continue button and we can arrange a call for you today to see how we can assist.

Unsecured Loan

An unsecured loan is one you don't need to use an asset you own as security. The amount you can be approved for will be determined by the health of your business and your monthly income.

  • Unfortunately your level of income means you would be limited in your lender options for an unsecured loan
  • Most lenders would require a minimum $6k-$10k revenue per month to assess
  • If approved for unsecured finance you probably be eligible for $4k - $8k
  • Try work on your income and boost it up to between $6k - $10k per month, it will ease any pressure on your cashflow and menas you'll be more likely to get approved for an unsecured loan
  • The amount you would be approved for would be $5k - $20k
  • The amount you would be approved for would be $15k - $40k
  • The amount you would be approved for could be between $20k - $500k depending on the overall health of your business and your monthly revenue.

Loan Servicing

Servicing is your ability to successfully repay a loan if you were approved.

  • Your income needs some attention, and you're probably just breaking even or running at a loss so see what you can do to increase your revenue and limit your expenses.

Loan Servicing

Servicing is your ability to successfully repay a loan if you were approved.

  • You probably have some good running months but sometimes have a slower month or expenses drop your profits, tightening up your business cashflow
  • See what you can do about those slower months, they will be holding growth back. Research new potential product or service categories
  • Assess your expenses and see where you can save on operating costs
  • Your cashflow is looking good! Business loan servicing shouldn't be a problem.

Credit History

Both your personal and business credit history will play a role in a business loan approval. Before applying for finance make sure you have bad debts resolved or on a payment plan.

Smiley approved business loan Great! Good credit will go a long way in your business loan approval and shouldn't be an issue for your application.
  • Your cashflow is poor and will likely result in a declined loan
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