Get Approved: 7 Tips from a Business Mortgage Broker

Rachael Conlan
Sep 19, 2016
2 min read

Updated: Mar 7, 2024

A man and a woman discussing the business loan

Finding a business loan in Australia is straightforward, but navigating the options requires a skilled business mortgage broker to ensure success.

While securing a business loan in Australia might seem straightforward, navigating the process effectively can be the key to success. A business mortgage broker can be your expert guide through this crucial step. They have access to a comprehensive network of lenders offering diverse business finance options, from commercial property loans to lines of credit, ensuring you find the most suitable solution for your specific needs.

Learn more about business loans.

Here are some tips from the business mortgage brokers to help you improve your chances of securing a loan:

Determine Realistic Expectations:

It's essential to consider your loan requirements, how you want the money supplied, and the type of security you can offer. This will help you find and compare credit options effectively.

Work with a Business Mortgage Broker:

The next step is to speak with one of our experienced business mortgage brokers. They will help determine the best loan type and lender for your business needs. Our team works closely with clients to select loans tailored to their situation and manages the process from start to settlement, including the legal and other paperwork.

Build a Good Credit History:

Lenders look for an existing credit relationship and a clear credit history. If you already have a loan that you are servicing on time, you are more likely to receive loan approval. If you are credit impaired or have no documented credit history, our team can help clarify your options.

Demonstrate how to minimize risks:

Lenders seek to understand how you will minimize the risk to you and to them. Alecto Finance can help you develop and present a risk-minimization plan.

Be Prepared:

Ensure that you have up-to-date paperwork, tax records, and a good understanding of your borrowing and spending needs before meeting with your finance broker.

Have a Business Plan:

Lenders prefer to see a business plan that demonstrates your goals and objectives, and how you plan to achieve them.

Provide Multiple Exit Strategies:

Lenders seek to know how they will receive their money back, and some may require up to three exit strategies.

To give your business the best chance of success, don't try to navigate the complex world of commercial financing on your own. Instead, turn to the team of experts at Alecto Finance. We're much more than your average mortgage broker – with years of experience and a deep understanding of the Australian finance landscape, we're the ideal partner to help you secure the financing you need. Whether you need a commercial property loan, equipment lease, or any other type of business financing, we can help you find the right solution for your unique needs. So don't wait – contact us today to learn more about how we can help you take your business to the next level.