Business Finance Archives - Good To Go Loans https://www.goodtogoloans.com.au/category/business-finance/ Thu, 20 Nov 2025 05:02:00 +0000 en-US hourly 1 https://wordpress.org/?v=7.0.2 What is the difference between a Secured and an Unsecured Loan? https://www.goodtogoloans.com.au/difference-secured-unsecured-loan/ Thu, 02 Nov 2017 00:36:27 +0000 http://www.goodtogoloans.com.au/?p=1491 When you are in need of money for any type of emergency, you look to borrow money from a bank or a lender. While taking the..

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]]> When you are in need of money for any type of emergency, you look to borrow money from a bank or a lender. While taking the loan, there are certain conditions attached to the repayments. These conditions define what type of loan it is. Comparatively, there are two types of personal loans you can take Secured and Unsecured loans. Understanding these becomes crucial to assess what condition fits your loan requirements best.

Secured Loans

Secured loan, as defined by the term, is a type of loan that is backed by, or taken against, an asset. The asset is the security for the loan; that means if you don’t repay the loan, then the bank or the lender can repossess the asset which they sell to pay off the loan. The lender holds the title or the deed, until you have repaid the loan in full. Examples: You usually need to use security like a car in the case of an auto loan, or a house in the case of a mortgage.

Advantages Of Secured Loans

  • By using security, you become more eligible to get the loan.
  • The loan amount could be higher, as you are offering security.
  • Repaying such types of loans timely helps you to improve your credit score.

Unsecured Loans

When you have not tied any of your assets as security on a loan, then it is referred to as an unsecured loan. This way, the lender cannot seize any of your property. When you are looking to get an unsecured loan, the amount you may get may be smaller in comparison to secured loans, as the lender or the bank does not have any security to recover the money in case you default. Examples:

Advantages Of Unsecured Loans

  • When you are not attaching any asset there may be less paperwork.
  • You can get a loan without having a registered asset.
  • Increases your eligibility for another small personal or cash loan upon completion of your loan.
Understand your requirements thoroughly and assess how much money you need before deciding which loan fits your needs.

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]]> Business Cash Shortfalls https://www.goodtogoloans.com.au/business-cash-shortfalls/ Mon, 13 Mar 2017 15:54:47 +0000 http://www.goodtogoloans.com.au/?p=921 We understand having your own business can come with a bit of financial headache at times. There’s always something or someone needing to be paid. There’s..

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Remove less profitable/ less popular products and services of your business

We see it all the time with even the most well-known businesses. A prime example is fast food chains. To help increase revenue and minimise waste, they often remove a chunk of their menu depending on popularity and profit margins. Having stock that you know moves quickly not only puts money back into your pocket quicker but it also makes it a lot easier to order the correct quantities when replenishing.

Cut Expenses

Being the fun boss is cool and all but all the morning rounds of coffee and staff lunches really adds up. If you still want to do something nice for your staff, keep it for special occasions such as end of financial year or Christmas. Who knows, they may even appreciate it more!

Sell things

Find things no longer in use and sell them on. Surely you don’t need the spare 20 computer screens lying around. Money in your pocket is far better than holding on to things and also creates more space- WIN-WIN!

Look into finance options

Are you constantly hiring that bobcat that costs you an arm and leg? Why not look into buying? This could save you so much money in the long run. There’s nothing better than having your own tools of the trade. Did you know we are a Business Finance lender? We have plenty of different products to help your business flourish. Ask us today for a tailored Business Finance option.

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