Frequently Asked Questions

Splendid Business Finance Solutions is a Melbourne-based business finance brokerage that specialises in helping Australian businesses access tailored funding solutions. We have a team of experienced finance experts who understand your unique needs and navigate the lending landscape on your behalf to secure the right fit financing options for your business growth.

Splendid Finance was founded by Shaun Johnson and Bhavi Chadha, two experienced business finance professionals. Both directors bring extensive expertise in helping Australian businesses secure the right funding solutions.

We maintain professional standards through:

1. FBAA (Finance Brokers Association of Australia) membership,

2. FRANdata affiliation for franchise expertise,

3. AFCA (Australian Financial Complaints Authority) coverage,

4. Professional indemnity insurance,

5. Ongoing professional development.

We offer six key advantages:

1. Personalised Expertise: Our experts work with you throughout your entire growth journey,

2. Creative Solutions: We excel at finding innovative financing structures others might miss,

3. Extensive Lender Network: Access to a wide range of bank, non-bank and private lenders increases your approval chances,

4. Faster Approvals: We know each lender's requirements, accelerating the process,

5. Better Terms: We negotiate competitive rates on your behalf,

6. Stress-Free Process: We handle all the paperwork and lender communications.

We provide access to business loans ranging from 1 to 5 years, offering a one-off lump sum with regular repayments. These loans are ideal for larger investments like purchasing equipment, hiring staff, or expanding operations where you need predictable monthly repayments.

A business line of credit functions like a credit card for your business but with higher limits and lower interest rates. You can:

1. Draw funds whenever needed without reapplying,

2. Pay interest only on what you use,

3. Top up available credit when you repay,

4. Manage short-term cash flow flexibly.

A business overdraft is a revolving credit facility attached to your business bank account. It's perfect for managing short-term cash flow gaps like delayed customer payments or seasonal dips. You can draw funds when your balance drops below zero up to a pre-approved limit, paying interest only on what you use.

Equipment finance helps you purchase or lease vehicles, machinery, technology, or tools without paying upfront. Whether you need commercial kitchen gear, manufacturing machines, medical devices, or heavy tools, we structure repayments over time to match your cash flow.

Invoice finance (also called debtor finance) converts unpaid invoices into immediate cash. You receive 80-85% of invoice value upfront, then the remaining balance (minus fees) when customers pay. It's ideal for businesses with 30-90 day payment terms who need to smooth cash flow without taking on traditional debt.

Trade finance bridges the gap between paying suppliers and receiving customer payments. It's commonly used by importers, wholesalers, retailers, and manufacturers. The facility pays your suppliers directly (local or international), and you repay once goods are sold or payment is received.

We offer specialised franchise finance for both new franchisees and those expanding existing operations. Funding can cover:

1. Franchise or licence fees,

2. Store fit-outs and premises setup,

3. Equipment and vehicle purchases,

4. Inventory and marketing costs,

5. Working capital during ramp-up.

Our streamlined 9-step process includes:

1. Discovery & Assessment - Understanding your business and financing needs,

2. Privacy & Documentation - Gathering necessary documents with signed consent,

3. Analysis & Matching - Shortlisting suitable products and lenders,

4. Pre-Approval - Negotiating competitive terms with matched lenders,

5. Your Choice - Presenting all options clearly for informed decisions,

6. Formal Application - Managing the application with your chosen lender,

7. Final Approval - Lender review and formal offer,

8. Settlement - Signing documents and funding preparation,

9. Access Your Funds - Receiving your financing.

Approval timeframes vary by finance type and lender, but our expertise typically accelerates the process. We know each lender's specific requirements, enabling faster approvals than going direct. Simple facilities like overdrafts may take days, while complex structured solutions could take several weeks.

It depends on the loan amount and finance type but documents typically include:

1. Bank statements (last 12 months),

2. ATO Portal extracts,

3. Profit and Loss Statements (2-3 years),

4. Balance Sheets (2-3 years),

5. Business tax returns (2 years),

6. Current loan and debt details,

7. Cash flow statements or forecasts,

8. Director ID documents.

For small businesses, both business and personal credit histories matter. While perfect credit isn't always required, better credit scores typically mean better terms and more options. We work with various lenders who have different credit requirements, helping find solutions even for businesses with credit challenges.

As finance brokers, we're paid by the lender once your loan settles. This means our services are generally free to you. We'll always be transparent about any fees or charges before you proceed with an application.

Interest rates vary based on:

1. Type of finance product,

2. Your business's financial position,

3. Loan amount and term,

4. Security offered,

5. Current market conditions.

Most business loans allow early repayment, though some may have early repayment fees. We'll explain all terms clearly before you commit, ensuring you understand any restrictions or charges associated with paying off your loan ahead of schedule.

We work with small and medium businesses across all industries and stages, from startups to established enterprises. Eligibility depends on factors like:

1. Time in business (usually 12-24 months minimum),

2. Annual revenue,

3. Purpose of funds,

4. Financial performance,

5. Available security,

6. Business bank account dishonours,

7. ATO debts.

Security requirements vary by product and lender. Some options like invoice finance use your invoices as security, while others might require property or business assets. We also have access to unsecured lending options for qualifying businesses.

Yes, as long as you are generating at least $20,000 per month in revenue though options are more limited than for established businesses. Startups might access:

1. Asset finance for equipment purchases,

2. Franchise finance with franchisor support,

3. Trade finance with strong supplier relationships,

4. Personal guarantees from directors may be required.

While we serve all industries, we have particular expertise in:

1. Ecommerce, retail and wholesale trade,

2. Software and SaaS,

3. Marketing and software agencies,

4. Manufacturing,

5. Transport & logistics,

6. Professional services,

7. Healthcare services,

8. Trades.

Seasonal businesses benefit from flexible facilities like:

1. Lines of credit for managing variable cash flow,

2. Overdrafts for short-term gaps,

3. Invoice finance during busy periods,

4. Trade finance for inventory buildup. Our experts structure solutions to match your seasonal patterns.

We support growth through:

1. Equipment finance for capacity expansion,

2. Working capital for increased operations,

3. Trade finance for larger inventory orders,

4. Business loans for premises or fitouts,

5. Multiple facilities structured across different lenders,

6. Regular reviews to ensure finance matches growth stages.

Getting started is simple:

1. Contact us via splendidfi.com,

2. Have an initial consultation about your needs,

3. We'll explain your options clearly,

4. Decide if you want to proceed,

5. We handle the rest of the process.

To make our first conversation productive, consider:

1. Your funding amount needed,

2. Purpose of the finance,

3. Preferred repayment timeframe,

4. Current business performance,

5. Any existing finance facilities. Having recent financials handy helps but isn't essential for initial discussions.

Finance brokers provide several advantages:

1. Access to multiple lenders, not just one,

2. Expert knowledge of different products,

3. Time savings from streamlined processes,

4. Better negotiating power for rates,

5. Creative solutions banks might not offer,

6. Ongoing support throughout your journey.