National Brokers Network

How to Manage Your Small Business Loans

At some point in your life as an entrepreneur, you may need to borrow money to fund your growth or just to basically move forward. If you want to prepare for that moment, keep on reading this article and take down notes.


  • Pay More Than the Minimum

Do this as often as possible. Paying more than you can when you have the resources to do so can help you get out of loan debt faster. Review your spending habits to see how you can allocate more to further decrease your loan debts.  


  • Pay on Time

This can help you avoid the penalties incurred for paying late. More importantly, an on-time payer is a good payer who stands a chance to be given another chance at a loan with favourable terms.


  • Do Not Delay

The fear of the unknown can hold you back from securing a loan when you need to. However, waiting too long may backfire on you. The issues you need to address may pile up before you can secure a loan. As a result, you may find yourself needing more money than you can realistically afford to pay off.


  • Talk to Your Creditors

Do not hesitate to ask if they would consider negotiating payment terms with you. After all, it would work to everyone’s advantage if you can pay off your loan. Keep in mind though that timing is crucial here. Make it a point to negotiate before you even miss a payment. A good record gives your creditors a reason to trust you and agree to your terms.


  • Sell the Business

But if you are left with no other option, it is not a bad idea to consider putting up your business for sale Australia to pay off your debts. Our experienced brokers can tap into their wide network to help you find a buyer who can see the value and potential in your business. Feel free to reach out to our team by phone: 03 9226 9222, fax: 03 9078 6315 or email: if you need assistance on this matter.

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In Consideration of the Vendor of the subject business, or any other business introduced to the Proposed Purchaser and their agent National Brokers Network (“the agent”) providing information to the Prospective Purchaser, the Prospective Purchaser agrees:

1. To keep all information provided confidential in respect to the subject business and any other business introduced to the Prospective Purchaser by the Agent.
2. That no information is to be disclosed by the Prospective Purchaser to any third party without consent by the Agent;
3. That it will not use for themselves. Or for others benefit, such information other than to Purchase the subject business or other business introduced by the Agent;
4. That any agreement to purchase the whole or portion of the business shall be exclusively through the Agent;
5. To immediately return to the Agent all such information and other details in written form including any drawings and any copies made of written information, notes, summaries or extracts of any document therefor if any when requested by the Agent;
6. Under no circumstances will the Prospective Purchaser make direct contact with the vendor of the subject business or other introduced business without the prior written consent of the Agent;
7. If the Prospective Purchaser breaches this agreement or buys the business direct from the Vendor, the Prospective purchaser is liable to and indemnifies the Agent for any and all losses the agent may incur including economic loss and loss of income.v

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