Australian Pharmacist
Finance
Helping Pharmacists Grow their Business
As a pharmacist, you understand the importance of providing quality healthcare to your patients. However, growing your business and keeping up with the latest technology and equipment can be challenging. That’s where Sure Capital comes in – we are a leader in the finance broking market, helping pharmacists across Australia secure the funding they need to grow their businesses and provide better healthcare to their patients.
What is a Small Business Loan?
A small business loan is a form of funding arranged between a business and a financial institution such as a bank or an alternative lender. As a finance broker, Sure Capital has been assisting Australian businesses to get access to small business loans for buying equipment, stock purchases, hiring staff, general cashflow requirements or purchasing commercial property. A small business loan funds operating costs and capital expenditure.
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A PHARMACY BUSINESS LOAN
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Different Forms of Small Business Loans
When talking about small business loans in Australia, they come in many different forms, each with slightly different requirements. For pharmacists, the most popular business finance options and loans include “Unsecured Business Loans,” which are fast and easy to get access to, and usually takes the form of short-term finance to take advantage of an opportunity to grow or expand the business. “Short-term Business Loans” are often used to cover cash flow issues over a short period of time. “Secured Business Loans” require securing the funding against an asset or collateral such as property, plant, or equipment.
Other types of small business loans include “Business Line of Credit,” which is a revolving line of credit that can be drawn upon when needed, “Merchant Cash Advance,” which is a short-term loan that is repaid through daily or weekly payments from the business’s merchant account, “Invoice Finance Factoring,” which is a way to get funding by selling your unpaid invoices to a finance company, and “Equipment Finance,” which is a type of loan specifically for purchasing equipment for your business.
Unsecured small business loan
Fast and easy to get access to, and usually takes the form of short-term finance to take advantage of an opportunity to grow or expand the business.
Short-term business loans
As the name implies, these loans are often used to cover cash flow issues over a short period of time.
Secured business loans
These loans require securing the funding against an asset or collateral such as property, plant, or equipment.
Business line of credit
This loan is a revolving line of credit that can be drawn upon when needed,
Merchant cash advance
A merchant cash advance is a short-term loan that is repaid through daily or weekly payments from the business's merchant account.
Invoice factoring
Invoice factored loans is a way to get funding by selling your unpaid invoices to a finance company.
Different Business Loan Rates in Australia
Business loan rates in Australia vary depending on the lender and the type of loan. For example, unsecured business loans tend to have higher interest rates than secured business loans because they are riskier for the lender. However, the interest rate you receive will also depend on other factors such as your credit score, the length of the loan, and the amount of collateral you can provide.
What Impacts Business Loan Rates?
When a lender is considering financing a business, there are several factors they will consider before deciding on the interest rate they will offer. These factors include the business’s creditworthiness, the length of time the business has been operating, the amount of collateral available, and the industry the business operates in. Lenders will also look at the current economic climate and the overall financial health of the business before deciding on the interest rate.
Explore our business loan solutions
At Sure Capital, we understand that securing financing for your pharmacy can be challenging, especially in today's economic climate. That's why we offer a range of small business loans and finance options specifically designed for pharmacists. Our team of finance experts can help you navigate the process and secure the funding you need to take your pharmacy to the next level. Contact us today to learn more about our finance solutions for pharmacists.
