I have a small business that has been going for a year and I need to access some capital to take advantage of two new contracts. No luck with the banks so I am wondering if it is possible to use some of my superannuation to invest into the business. We only need about $50,000, are there any limitations and do I need to set up a SMSF to do it?

Antony,
If you have confirmed orders there are lenders out there who will assist with the funding.
I'm not a Financial Planner, but would doubt you could use your super for this purpose.
Possibly one of the FPs on this chat could advise on this?

Hi There,

Yep cannot use your super. This is called an in house asset.

NAB do a thing called trade finance against an invoice. Also there is debtors finance from the banks. Have you tried that?

AJ

Hi Antony,

Would be happy to have a chat about your situation and see if a finance broker can assist, depending on your set-up and numbers. From experience, the banks can say no if there isn't enough information to assist them to see the potential in the business.

Todd.

Hi Antony,
Time to think outside the box. Have a meeting with your accountant and an experienced broker and together there may well be a solution hidden somewhere
The SMSF and super funds are out though
Best of luck
Scott