Daily Bulletin


Despite the trials and tribulations of the last eighteen months, the Australian economy is growing again and at a faster rate than most people had expected. This is great news for individuals and businesses.

However, it should be noted that the difficulties experienced have led many people to question their perspectives and strategies; It represents a great opportunity to reinvent yourself and your business. After all, what better way is there to get ahead of your competition than by thinking outside the box?

Interestingly, the pandemic has given many business owners a chance to pause and take stock. This is a good thing! It is normal for a business owner to become bogged down in the day-to-day activities of running a business. Due to the lack of time, it's hard to pause and assess how the business is going and what could potentially be done differently to improve things.

Question Time

It's time to ask yourself whether you're on track to get your business where you want it to be. If you started out properly you should have a set of business goals. If you didn’t, it is never too late to create some. The simple question is, where do you want to take the business?

There is a good chance that evaluating your current position and where you want to be will lead you to realise several key points:

· Your business has a lot of potential

· It is possible to increase your market share and therefore profit

· Better planning and staffing will free your time to drive the business forward.

That is the real truth. In order to drive your business forward and reach its potential, you need more time; one thing is for sure, time is what you probably don't have in abundance.

Simple Solutions

If you are honest with yourself you already know that your business can be so much more. The bottom line is that you need to invest to unlock its potential. Additional staff and equipment will increase the quality of your product or service and might even make it more economical to produce. and more economical to produce. Add in modern technology and you can easily increase your market availability and therefore your market share.

Best of all, the additional staff can handle the day-to-day running of the business, leaving you to focus on the important decisions and the direction of your business.

You could probably achieve a lot more by doing these two things:

1. A Plan

Your plan involves analysing your current procedures and improving on them. You will find your existing staff has plenty of ideas, all you have to do is ask them.

2. Commercial Finance

In order to invest in your business and take it forward, you most likely need additional cash. Fortunately, there are some very reputable specialists in commercial loans that will be able to help you. Lumi.com.au is a specialist in commercial loans and a great place to start.

What Is A Commercial Loan

A commercial loan is simply money lent to a business instead of an individual. It can be called different things by different financial institutions. But, the bottom line is that it is money, lent to your business, and you have to repay it over a set period.

Commercial loans can be small and unsecured. The willingness of a lender to supply an unsecured loan will depend on how good your creditworthiness is and the amount you wish to borrow. In many cases, the lender will prefer to provide a secured business loan that relies on collateral.

The good news is that Lumi’s commercial loans tend to be approved quickly and you can have your funds in as little as 24 hours! and with this, you could start moving your business to higher grounds in no time.


Online Small Business Loan Provider

Understanding Collateral

Collateral is simply another term for security. In order to get your commercial loan, the lender will want you to offer something of value. This may be the business premises, the equipment you are looking to buy, or in some cases, property.

The point of collateral is to give the lender some assurance they will get their money back. If you cannot afford to pay the loan, they can take the asset and sell it to regain the value remaining on the loan; that is why you need to be certain the business can afford a commercial loan before you apply.

Applying For a Commercial Loan

You can easily apply online and you will find that the best commercial lenders, such as Lumi.com.au, will offer tailored financial solutions. Of course, you may prefer to use an independent financial advisor before you apply. Whatever you decide, there are several things you can do to prepare your application for a commercial loan.

· Bank Statement

The first thing you need is a cash flow statement that shows the incoming and outgoing funds for the business. This is essential if you want to secure funds as the lender needs to be able to see you have enough money coming in to cover the cost of the loan. An online lender like lumi.com.au makes this process even easier by directly connecting to your bank account via secure cloud software. This process will do all the work for you!

· Loan Amount Repayment Schedule

If you want to know how much you can afford to borrow before you apply, there are some handy loan repayment calculators that can help you understand how much a loan will cost your business.

At lumi.com.au/business-loan-calculator you can choose your preferred loan or weekly repayment amount as well as the annual interest rate and the repayment period. All these variables will impact your repayment schedule.

· Business Statement

A key element of your application, especially when investing to expand, is how the investment will grow your business and your share of the market. Your business statement should explain your intent, your analysis of the market, and how you see the future developing.

It will inspire confidence in your lender.

· Additional Documents

If the loan is to be secured you will need the additional papers that confirm the collateral being offered is owned by the business. There may also be other documents, such as financial statements, that the lender wants to see. Bear in mind that the documents required for your business loan application vary from lender to lender.

The Key Difference of an Online Lender

Lumi.com.au offers a five-minute commercial loan application online and could release the funds on the same business day. They don’t require collateral for commercial loans up to $150,000 and are listed as a trusted direct lender. Getting a commercial loan can enable you to take your business to the next level and reach the goals you have set for your business.

Apply online for a commercial and unsecured commercial loans of up to $150,000, with the option to receive the funds on the same business day in order to make the most of the EOFY instant asset write-offs.

Check out lumi.com.au for our latest EOFY offer.

* *This content is not intended as legal, financial or investment advice and should not be construed or relied on as such. Before making any commitment of a legal or financial nature you should seek advice from a qualified and registered legal practitioner or financial or investment adviser.

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