How to amaze a Business Banking Manager: Be a Perfect Customer

Posted by Azure Group on 25-Jun-2018 14:18:09

 

Ever wondered what a bank wants from a customer?  Banks may seem unreasonable at times, but the truth is, what they want is actually pretty simple! Here is our guide to be being the perfect bank customer.

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Topics: Business banking manager, Bank covenant, Business loans, banking solutions, Lenders, Bank, Westpac, CBA, ANZ, NAB, Sydney Accountants

Loan Covenants: Client Relationships are Key

Posted by Azure Group on 07-Jun-2018 08:44:39

 

Business loans are unlike other private loans such as a mortgage or personal loan. They include a covenant which are terms set out by the lender. They are benchmarks or certain actions that the business must take on a regular basis to demonstrate that the business is profitable and give the bank confidence in their ability to continue to make repayments. #news

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Topics: Lending, Business banking, Small business loans, Business banking manager, Bank covenant, Business loans, Lower Credit Card rate, banking solutions

Business Loan Covenants: Sick of doing pesky covenant reporting?

Posted by Azure Group on 25-May-2018 14:00:00

 

When a lender approves your business loan it will usually be on the condition that certain covenants are agreed to. These are terms set out by the lender that are usually in the form of benchmarks that the business needs to achieve to show that they are profitable and to ensure that you can continue to make the repayments.

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Topics: financial reporting, Banking, Business banking, Small business loans, Business banking manager, Bank covenant, Business loans, banking solutions, Financial statements

What to do if you are in danger of missing a Bank Covenant?

Posted by Azure Group on 08-May-2018 11:49:15

 

If you have ever had a bank loan or a line of credit then you have agreed to a bank covenant (It was in that mountain of paperwork that you signed, and read in detail). A covenant is a clause in the loan agreement that requires borrowers to do, or refrain from doing certain things. Before taking a loan from a bank you need to be confident that you can meet the financial goals in the projections that you provided to the bank.

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Topics: Lending, Business banking, Small business loans, Business banking manager, Bank covenant