Unsecured Small Business Loans

WHAT DO YOU NEED TO KNOW BEFORE
APPLYING FOR A BUSINESS LOAN OR
CAR LOAN?

Let us discuss the points before you
apply for loan.

Understand your loan purpose
Being clear on why you
want to borrow is the
first step to choosing
the right loan and it’s
one of the first
questions you’ll be
asked by a lender.

Work out the loan amount
• Check out the amount
you want to take loan for.
• This is done because you
need to tell the lender
about your income,
assets, liabilities and your
ability to make
repayments.

Decide between a secured or
unsecured loan
Secured loan
• You offer an asset for the
loan, such as property.
• The interest rate will
usually be lower than the
unsecured loan.
• The lender may put your
asset on sale if you’re
unable to reimburse the
loan amount.
Unsecured Loan
• Unsecured ----- No asset
is necessary.
• The interest rate is
higher than the secured
loan.
• It can sometimes be
more difficult to be
approved for an
unsecured loan

Choose a fixed or variable
interest rate
• A fixed interest rate may be
more appropriate and help
manage your cash flow
better by providing
certainty with your
repayments.
• Both car and business loan
has different interest rates.
So stay updated.

Get your paperwork ready
Keep Important papers
ready such as -
• Proof of income such as a pay
slip or tax return.
• Proof of your current ongoing
expenses such as rent/bills.
• Personal identification such as
a passport or driver’s license.
• Take care of all these points
mentioned for all type of loans!

Thank You! For any loans
Contact
https://www.gccbusinessfinance.com.au/