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Latest News
June 8, 2022
The government is making changes that will open new doors for small and medium enterprises (SMEs) in the lucrative government procurement market. As announced in its March Federal Budget, the government is strengthening the Commonwealth Procurement Rules (CPRS) to further boost the prospects for SMEs of securing Commonwealth contracts. It plans to do this by requiring government officials to consider breaking major projects into smaller contract opportunities for businesses – that is if the unbundling allows for greater competition and is appropriate to the type […]
June 8, 2022
After many years of absence, inflation and higher interest rates are about to start keeping many small businesses owners up at night again. As the Reserve Bank of Australia’s Governor Philip Lowe noted in his comments about the April monetary policy decision, inflation has increased sharply in many parts of the world. “Ongoing supply-side problems, Russia’s invasion of Ukraine and strong demand as economies recover from the pandemic are all contributing to the upward pressure on prices.” He added that inflation had increased in Australia but remained […]
June 8, 2022
If you are looking to go digital, upskill your employees or attract great talent, there was good news for you in March’s federal budget. Here are three great announcements that you, as a small business, can take advantage of: Technology Investment Boost This scheme helps businesses with an annual turnover of less than $50 million to invest in improving their digital capabilities. These businesses are allowed to claim a bonus 20 per cent tax deduction for the cost of these expenses and depreciating assets. An […]
April 22, 2022
Small Business Loan: Online Meal Kit Provider Total Loan: $1,500,000 Monthly Turnover: $3,333,333 Purpose: Working capital for expansion Comments: Business creates custom online meal subscriptions for a healthier lifestyle. Have recently expanded operations to sell their product via major supermarkets. Due to rapid growth, the business has acquired a new warehousing facility to offer an expanded range. The business had already put $3m into the new warehouse, but needed the extra working capital for additional expansions. $1,500,000 was provided across multiple entities within 4 days […]
March 2, 2022
Small Business Loan: Outdoor Nursery Total Loan: $10,000 Monthly Turnover: $6,250 Purpose: Upgrade water filtration Comments: This outdoor nursery’s water filtration system was due for an urgent upgrade. Clients completed the simple application process and had their business loan approved and ready to be funded in just 6 hours. Why Xpress Business Loans? We understand business owners are passionate about their business which is why we look beyond just ticking boxes. All our lender partners have an open-minded approach to credit and when […]
February 21, 2022
Small Business Loan: Fencing Contractor Total Loan: $30,000 Monthly Turnover: $25,000 Purpose: Purchase materials in bulk Comments: Clients were experiencing difficulties getting their hands on necessary materials due to global supply chain issues. Wanted to get funds to enable them to purchase materials in bulk for future jobs. The underwriting process took into consideration COVID-forced closures and they were able to get the funds they required within a few short days. Why Xpress Business Loans? We understand business owners are passionate about […]
February 10, 2022
Whether you’re looking for funds to grow your business, boost your cashflow or top up your working capital, there are different options available. The two most common are a business line of credit and a business loan. It’s important to understand them so you can pick the solution that is right for your business. How a business line of credit works A business line of credit is an ongoing source of funding that can be drawn back down as it is repaid – rather than […]
January 21, 2022
Small Business Loan: Furniture Retailer Total Loan: $150,000 Monthly Turnover: $100,000 Purpose: Purchase stock Comments: Furniture retailers are anticipating a surge in demand from customers reallocating holiday funds to home reno jobs. This furniture retailer needed finance to purchase extra stock. While they’d already been approved for finance elsewhere, our offer came with all the right furnishings, including no early repayment fees. Why Xpress Business Loans? We understand business owners are passionate about their business which is why we look beyond just […]
January 11, 2022
Small Business Loan: Manufacturing Total Loan: $1,000,000 Monthly Turnover: $6,000,000 Purpose: Purchase equipment and working capital Comments: Clients required funds to purchase a range of assets, and cover working capital requirements during the January/February peak period. Client manufactures an extensive range of pharmaceutical, cosmetic, and functional food products. The business is a standalone and is poised for growth in the new world wellness market verticals. The deal was approved Christmas eve, with funding being disbursed the next available business day. $1,000,000 was provided across […]
December 15, 2021
Small Business Loan: Fuel Retailer Total Loan: $100,000 Monthly Turnover: $85,000 Purpose: Upgrade service station and cafe Comments: Client required general funding for upgrades to service station and cafe decor. Client operates a multi-service offering business in regional NSW. The mixed business is a service station, truck stop and cafe. They are also an agribusiness retailer that supplies the local farm industry. Client was able to get a quick 1 day turnaround due to the improved performance and well-presented financials of the business. $100,000 […]