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McKinley Plowman – Your Business Loan Specialists

As a business owner, access to finance can be the difference between barely surviving and absolutely thriving. What’s more, there simply aren’t enough hours in the day to shop around for the ideal loan product for your unique circumstances, and finding suitable finance solutions that meet the needs of your business simply wasn’t the reason you embarked on your entrepreneurial journey.

That’s where McKinley Plowman’s Finance team steps in.

Our loan specialists work on behalf of business clients across Perth, WA, and Australia to secure funding for a range of important business needs. Businesses of all shapes and sizes, in various stages of growth, and in a vast range of industries, come to McKinley Plowman for their finance needs because they don’t just need funding for their business – they’re looking to optimise their loans, get the best deal they can, and value their time working in and on their business – not getting the run around from lenders.

Why use a Business Finance Broker?

We do the Hard Yards for You

A key feature of a business loan broker’s role is to understand your lending needs, find out what is important to you in a loan facility, and approach lenders on your behalf. From there, we crunch the numbers and weigh up all loan solutions and present them to you. As a business owner, you benefit not only from our industry expertise and access to dozens of lenders, but you also put time back in your busy schedule to focus on what you do best – running your business – while we work in the background to find you the ideal loan for your needs.

We Keep the Banks Honest

We see many clients that haven’t scrutinised their loan after a few years because they assume their lender is looking after them and would tell them if they could offer a better deal. If we had a dollar for every time this situation arose in discussions with a client, we could probably open our own bank…

The fact is, it’s not in the best interests of a bank to reach out to their clients to drop their interest rates or reduce fees. The benefit of engaging a broker like McKinley Plowman for your business loan needs is that we keep the banks honest.

• If we can see that your current lender has room to sharpen their pencil and come to the table with a more competitive interest rate or better loan features, we advocate for you to try and make that happen.
• Should there be other lenders with a better deal, we’ll find it for you and present it.
• If your bank really is looking after you, and we can’t find a business loan that better suits your needs and goals, we’ll tell you exactly that. While some brokers push clients to refinance a loan even if it is a “sideways step”, we want to make sure your finance arrangements are right for you – which includes carrying on with your current loan should that be optimal.
• We also have access to business lenders who will cover the cost of refinancing your loans, up to $20,000.

We Have Access to a Wide Range of Loans (Including Niche/Specialist Loans)

The bread and butter for business loan brokers include the typical lending facilities that suit many business owners – business loans/business acquisition loans, commercial property loans, and overdraft/working capital facilities. McKinley Plowman’s finance team go even further than this, with access to niche/specialist loans that cater for business clients with unique finance requirements. These include Trade Finance, Debtor Finance, and Unsecured Business Loans/Unsecured Overdrafts. Here’s a quick breakdown of the key loan types that we assist clients with every day:

• Business & Business Acquisition Loans: These can be used for a range of business funding needs, such as starting or expanding a business, covering operational expenses, consolidating existing debt, and purchasing equipment or inventory.
• Commercial Property Loans: Businesses looking to upgrade their premises and get into a place of their own can benefit from a commercial property loan.
• Business Overdraft: An overdraft is a revolving line of credit attached to your business bank account, from which you can draw funds as required (up to an approved limit). This is particularly useful in assisting with cashflow management.
• Working Capital Loans: Working Capital loans enable a business to remain operational when it is unable to meet its daily running expenses from current income sources. These are often useful for providing short-term relief for seasonal businesses others with cyclical sales.
• Trade Finance: Trade Finance is a loan product that allows companies to access the necessary funding to buy and sell goods, mitigate risks involved in trade transactions, and provides a reputable third party to act as an intermediary for financial transactions.
• Debtor Finance: Debtor finance is a short-term loan that allows businesses to access funds from unpaid invoices, so businesses can improve cash flow and meet expenses.
• Unsecured Business Loans & Overdrafts: Some lenders offer unsecured loans for businesses, where the strength of your cash flow is used as security, rather than a physical asset. These may be approved quickly as less information is needed, however interest rates are often higher, and loan amounts tend to be smaller, given the increased risk to the lender.

We Have a Proven Track Record

We don’t just talk the talk. Over many years in the game, our Finance team (Paul Moran and Paul Tate) has helped clients kick impressive goals, accessing business loans that transform their cash flow and support incredible growth. Here’s an example of just one client we assisted recently:

• Client Profile: Family Business Owners with complex lending needs and multiple businesses and assets.
• Lending Requirements: $14 million in business lending, $2 million of personal lending.
• How We Helped: through our competitive tendering process, where we pitched their business to multiple banks, we were able to save the clients $140,000 per annum in interest rates on their business loans, and $20,000 per annum on their personal lending. That’s a total of $160,000 per year that they can reinvest into their business and add even more value to their already impressive operations.

What Now?

Growing your business, maintaining cash flow, expanding to new premises – all of these important milestones need capital that a business loan can provide. Rather than waste precious time running around between lenders looking for the right loan for your business, leave it with the business finance experts at McKinley Plowman.

Our team is ready to chat when you are – if you need a business loan, please fill in the form below and we’ll be in touch soon to get the ball rolling.