Is your client eligible for a Limba loan?


Is your client looking for financial assistance to help grow their business? At Limba we assess your client’s eligibility for a loan based on their own unique circumstance.

There are also three basic requirements your client needs to meet. These are:

-          The business must have an active ABN.

-          The business must be operating for at least six months.

-          The loan must only be used for business purposes.

Once your client has met the eligibility requirements, we then look at what type of loan will be suitable. At Limba, we offer three types of loans:

Standard Business Loans (principal and interest) offering flexible repayments over 12 months.

Interest Only Loans .

Bridging Loans (fully capitalised) where a clear exit strategy exists.

For a speedy approval, it’s important for your client to provide the following documentation:

-          Evidence of the business trading for at least six months with good conduct of the business bank account.

-          Identity documents from each director or shareholder i.e. photo ID.

-          Finally, if your client relies on cash transactions, ensure you have two business activity statements on hand.

If you find your client is not eligible for a loan, there are still steps your client can follow.

Firstly, it’s important to understand why they may not be eligible to begin with. Many clients present to us after being turned away by their bank without knowing why.

Knowing why will allow you to recommend adjustments to business practices to help you get that approval. 

Secondly, ensure their business bank account shows they are a good risk—make sure it’s within its limits and doesn’t have any dishonours.

Lastly, speak to the team at Limba, we are flexible and regularly make decisions that are ‘out of policy’ by our competitors.

Limba exists to help small business owners grow and expand. Contact us today and find out how we can help grow your client’s business in 2019 and beyond.