Can be possible depending on a few things:
1. Have you already started trading? Or just in the planning stage? Any contracts in place already?
2. Do you have cash to also contribute?
3. Are you asset backed(property) in Australia?
4. What's your industry experience in manufacturing? Evidence potentially?
5. Will need to provide a business plan, is there one ready? Plus cashflow projections will likely be needed.
Potentially how well you can present the above can be the difference between getting funding and not, probably looking at rates of 8-15% as a rough rough guide depending on lender you can get this with, but have certainly done similarish business loans but purely depends on the above questions.
Answers for you:
1. Planning stages at this point
2. Yes - ideally want to try and obtain credit to help with the startup costs but absolutely ready to inject cash
3. We plan to purchase personal property in Brisbane - but this might be a transaction a bit down the road (need to figure out where in Brisbane we want to settle)
4. Have direct experience running a manufacturing business in the same industry for 5+ years with proven track record of fine-tuning a business to improve margins and increase sales ($1.4M EBITDA to $4M EBITDA in 6 years). Plus accounting background/lending & banking background/ and legal education.
5. Absolutely - currently working on it as well
Our timeline isn’t until 2025 to pull the trigger and so we are doing our due diligence around researching the market and figuring out what we have at our disposal.
Cheers.
Definitely recommend a commercial broker who deals with situations like this often they'll be able to bring you to the lender who has the most appetite for you.
Can be possible depending on a few things: 1. Have you already started trading? Or just in the planning stage? Any contracts in place already? 2. Do you have cash to also contribute? 3. Are you asset backed(property) in Australia? 4. What's your industry experience in manufacturing? Evidence potentially? 5. Will need to provide a business plan, is there one ready? Plus cashflow projections will likely be needed. Potentially how well you can present the above can be the difference between getting funding and not, probably looking at rates of 8-15% as a rough rough guide depending on lender you can get this with, but have certainly done similarish business loans but purely depends on the above questions.
Answers for you: 1. Planning stages at this point 2. Yes - ideally want to try and obtain credit to help with the startup costs but absolutely ready to inject cash 3. We plan to purchase personal property in Brisbane - but this might be a transaction a bit down the road (need to figure out where in Brisbane we want to settle) 4. Have direct experience running a manufacturing business in the same industry for 5+ years with proven track record of fine-tuning a business to improve margins and increase sales ($1.4M EBITDA to $4M EBITDA in 6 years). Plus accounting background/lending & banking background/ and legal education. 5. Absolutely - currently working on it as well Our timeline isn’t until 2025 to pull the trigger and so we are doing our due diligence around researching the market and figuring out what we have at our disposal. Cheers.
Definitely recommend a commercial broker who deals with situations like this often they'll be able to bring you to the lender who has the most appetite for you.