Hi, I am about to start my own recruitment business and wanted to know if it was possible to obtain a business loan to help the business get started. I have been a HR Manager for 12 years and hoping I can get a loan of around $25,000 without having to borrow extra on our home loan?

Hi Athena,
Yes, there are several lenders who would be able to help if you already have some cash flow.
If the business does not yet have any cash flow it would be best to set up a separate on split against the home.
Hope this helps
Awesome Albert

Hi Athena, One lending option that might help if you need to purchase any equipment is to lease 100%. Best rates are after 2 years ABN but with a clean credit and your prior history - lenders consider and its a 1 page and 1-2 day turnaround. In the end, you need to provide invoices for the equipment you want to purchase.

If you are after funding to pay the rent or other cashflow items - lenders will want to see some real estate backing.

You have asked the question at the right time - if you have not left yet - extending your loan for a line of credit or even just redraw (usually at no charge) - you will be able to fund the next 3-6 months in business. What I generally find if a refinance saves repayments and might offset the cost of having access to an extra $25k

Hi Athena, normally business lenders lend either against assets or cash flows. Funding the establishment of new businesses, albeit one that you have considerable experience in, falls outside those parameters.
As someone mentioned, if you are a homeowner there are several options that are normally cost effective.