Essential Lending Services in Gold Coast, Queensland | Loan service

Essential Lending Services

Locality: Gold Coast, Queensland

Phone: +61 430 195 231

Address: Unit 10, 3-9 Octal Street 4207 Gold Coast, QLD, Australia

Website: http://www.elendings.com.au/

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24.01.2022 Back to Basics Working Capital What is it? ... The capital that a business requires to see its everyday financial obligations and commitments to operate successfully. The difference between current assets and current liabilities There are four factors which influence working capital: receivables - Inventories- Payables- bank Why is it important? Businesses must be able to meet their financial obligations as and when they become due (liquidity). Indicates the ability to efficiently cover expenses of day to day operations. Sufficient working capital creates opportunity to attract favourable financial terms and margins. Insufficient working capital can lead to unfaroubale financial terms, penalties and even insolvency issues. How is it funded? Initially funded by equity (owners funds) As the business grows, they may supplement or replace equity with facilities such as Overdraft, invoice, trade and stock finance and unsecured business loans. We help small business #getitright

24.01.2022 Access to Business Finance causing headaches? Were experts in pain relief We understand that getting a loan can be tricky if youre self-employed. Thats why at Sterling Private Lending, we can offer a range of solutions specifically tailored to self-employed Australians. Get in touch today to find out more. #selfemployed... #cashflow #businesssolutions #sme See more

24.01.2022 Why taking control of your living expenses is more important than ever A combination of tighter home loan lending regulations and the uncertainty in our new COVID world have made looking after your living expenses an essential part of creating a more secure future for you and your family. Many people are finding out the hard way that it’s not as easy to get a home loan approved as it used to be. The simple reason for this is that financial regulators have set tighter rules... for lenders. Now they are required to look more closely at your daily living expenses to get a better idea of your ability to make your repayments now and into the future. Plus, as your broker, the mortgage broker ‘best interests duty’ that was recently legislated means that, unlike a staff member at a bank, there will be legal obligations for me to find you a loan that is best suited to your circumstances. So lenders are looking more closely at your living expenses, and should you not be ready, there could a disappointment path ahead. If you want to get into the property market or a better rate on your loan, let us guide you to success #mortgagebroker #homeloan #covid #rates #firsthomebuyer #homelending

23.01.2022 Give and you will receive When you work with your clients interest as a priority, life is good. A Home Loan broker gives you something a bank doesnt #CHOICE... Who do you have on your circle of influence? A sales person or a #Finance Broker?

23.01.2022 The cash rate has hit a new record low! Time to start paying your debt off. The Reserve Bank easing monetary policy for the fourth time in less than a year amid a sharp dip in market sentiment. The Reserve Bank of Australia (RBA) has lowered the official cash rate by 25 bps from 0.75 per cent to 0.5 per cent marking the fourth cut since June 2019 when the easing cycle commenced.... This follows a sharp turnaround in sentiment ahead of the RBAs monetary policy board meeting, with analysts initially expecting the central bank to keep rates on hold. Pay it now, not later #smart #mortgage #rba #interestrates #mortgage broker

21.01.2022 The current conditions could not be better, with the RBA reducing the cash rate, the market is offering more and better offers. You just need to get the proper guidance and support to ensure a smooth ride.

19.01.2022 Newly self-employed? Went from PAYG to contracting? Started a new business? Been in business for less than 2 years?... Need cash to start a new business? Case Study Self-employed less than two years Up until three months ago, Kevin was working as a PAYG truck driver. Since then, he has been contracting under his own ABN. The only other income stream comes from his partner, Sarah, who has casual shifts at a local coffee shop. In four weeks time he needs to settle on a townhouse he purchased off-plan two years ago. Sterling was able to give Kevin a loan at 70% LVR based on Sam providing us with a business plan, an accountants letter detailing forecasted income for the new business and Sarahs casual income. Could not be easier. If this sounds like you or someone you know, send us a DM now

18.01.2022 The Reserve Bank of Australia, After almost 3 years of no movement, has lowered interest rates in a second consecutive meeting to a new record low of 1%. As interest rates fall, so too does the interest on savings accounts. It is becoming increasingly tough for banks to lower deposit rates by the standards 0.25% RBA move. The closer interest rates get to zero, the harder it is for banks to pass full rate cuts onto mortgages as they are unable to adjust for it through alrea...dy low deposits. As a result, it will be interesting to see to what extent todays rate cut will be passed on to customers. In making the decision to lower rates again this month the RBA has signalled its focus on supporting employment growth as it looks to restore inflation to within its target range and provide further stimulus to the economy. Interest rates are already at historic lows, and if lenders respond to the RBAs move by slashing their interest rates, there is an even more compelling case for you to review your lending options now. #moneyinyourpocket #payitnow #mortgages #homeloans #australia

17.01.2022 First Home Buyer Special 95% Loan Plus Lenders Mortgage Insurance Capitalised 3.45% Variable... 3.34% Fixed 1 yr or 3 yr -Purchase Established Home or Construction We proudly look after police officers and ambos, firies and health workers, emergency service workers, correctional service officers and government employees as well as their family members. Any Current or Former employee/member of these groups get access to this special: Queensland Police Service employee Queensland Fire and Emergency Services employee Queensland Ambulance Service employee Queensland Corrective Services employee Queensland Health employee Australian State or Federal Police employee Local, State or Federal Government employee residing in Queensland

16.01.2022 On the Spot, Business Loans, FAST. If you dont tick the Big Banks lending boxes and need access to working capital; we can help to keep your business up and running Find out more here http://bit.ly/fastbizzloans #sme #smallbusiness #cashflow #workingcapital

15.01.2022 Australian Government Response to Businesses Impacted by COVID-19 How to Get Help from the Government so your SMW can bounce back Every day that goes by, the coronavirus outbreak grows more severe in Australia, and many businesses are struggling to keep afloat and keep their doors open. In a quick response to support Small Businesses during this financial downturn, both the government and banks have stepped in with emergency financial relief strategies.... Check the link on our FB page for more info of how we can help you during this time #covid_19 #finance #help https://bit.ly/2UEkBw1

15.01.2022 Many many years ago, people had a personal relationship with their bank managers. You use to walk in, shake hands and get your loan approved with a few signatures, just like that. But things have changed significantly over the last few decades. So here are 5 things your banker wont tell you. Bankers can only offer you limited options... They wont tell you about the 1452 additional loan products offered by other banks which may suit you better. Bankers are salespeople The finance industry does not require for People working in the retail lending space to have a University Degree or Proper Finance Qualification, just normal people doing the same time over and over again (rinse and repeat style). They will want to sell you a specific solution including credit cards and insurance. The more products & services they get you to buy the more money the bank makes. Sure, finance brokers get paid by the banks for the services they offer, but our job involves a series of steps to determine the product recommended does suit/fits the particular needs of an applicant. Non-Biassed opinions here. Mortgage rates are more negotiable than you can imagine Ask and you will receive; Banks can usually give you a better deal, because they would rather drop the interest rate a little than lose your business. An offset account can be better than a term deposit or savings account Putting your spare cash into an offset account is earning you the interest rate on your mortgage, and makes you more money than a savings account or term deposit. One of the best Saving accounts pays 1.8% base rate + an intro 1.25% for four months; that is a total of 3.05%; however, the rate on your mortgage could vary from 3.64% to 6.79%. Do the math They are not financial advisers Consumers in Australia assume that bank employees are trained to help them make financial decisions, but thats not the case. Most of them are salespeople. 44.7% of consumers in Australia find it more comfortable and convenient to keep their financial products with one bank assuming that, because they have been loyal customers, they will get a good deal. The other 55.3% deal with us. Are you in?

15.01.2022 Covering Tax Debt, no matter what size your business is; can have a damaging impact on your cash flow and operations. Make sure you understand the options available.

15.01.2022 One of the most significant advantages of using a mortgage broker over going direct to your bank is choice. Even if you are set on using your current bank, a broker can still provide valuable benefits, by giving you advice on which product to choose from their range and liaising with them to ensure you get the loan when you need it . An experienced mortgage broker will work closely with you to determine precisely how much you need in savings when you need it by and what lo...an features will suit your first-home purchase. Having a good mortgage broker will make sure you get what you want and need in a loan, ensuring you dont end up with something you didnt want or paying extra for features you will never use.

15.01.2022 Legislation changes are threatening the mortgage broking industry, which could lead to higher home loan interest rates. Sign our online petition at brokerbehindyou.com.au and keep competition alive. #keepcompetitionalive #brokerbehindyou #keepwinning #dontgiveup @bertvanmanen

14.01.2022 The government announced the $688 million HomeBuilder program on Thursday after new figures revealed the country dipped into a recession for the first time in three decades. Heres whats in it for you.

13.01.2022 The announcement that stops the nation, cash rate decreased to 0.1% In response to the economic impact being caused by the COVID-19 crisis, the RBA reduced the cash rate by 0.15% to a new record low of 0.1%. In making this change the RBA has confirmed the views of many analysts that further stimulus is required to aid Australia’s recovery post Covid.... It had previously stated that it sees a cash rate of 0.25% as a floor however it has softened its stance on a reduction more recently. In the lead up to its next meeting our central bank will continue to monitor world events such as the second round of European lockdowns and the US election, while closer to home it will be hoping the easing of restrictions in Victoria and the opening of state borders will provide a lift to the economy. As you’re probably aware, lenders review rates independently of the RBA and some may decide to pass this rate decrease on to customers at different levels over varying time frames. We’re here to help if you have any questions or wish to review your circumstances. Please don’t hesitate to contact us. #mortgagebroker #getabetterdeal #homeloan #lending #banks #rates #rba

12.01.2022 Nowadays The complexity of obtaining home loans make the service brokers provide borrowers even more essential. The law requirements for "responsible lending" are currently a mess. There are guidelines, but we see different every day; banks taking it to a different level, some want more some want less, some will look into every single detail, some will ignore certain things. We continuously receive referrals from existing clients and business partners, to assist people who ...have either been declined for their loan or their bank told him they werent fir to borrow the money. Reality is; you dont need a salesperson to give you a mortgage, you need a finance specialist team that truly understands the 49 odd policy manuals and requirements to assess your situation; more importantly, you need someone that provides you with guidance to help navigate the over 1,400 different products available. Some might be suitable; some might not. Before you try to apply for a loan make sure you speak to a team of specialists in the field who can genuinely add value to your needs. DO not settle for "computer says no", " your credit score is not good", "try applying in 6 months"... The key takeaway is that the concept of one rule fits all, is not the norm in the market when it comes to getting your finance approved anymore. Who do you trust your finances too? #dontgiveup #success #fit #finance #help

12.01.2022 Australias last recession ended in the September quarter of 1991. Thats twenty-eight years of uninterrupted economic growth . Before the bears start mauling us, we concede that twenty-eight years of growth does not mean twenty-eight years without financial difficulties . It is impressive, nonetheless. To be honest, its the envy of the developed world. One feature of the economy, since the global financial crisis (GFC), has been its ability to find new growth drivers at different points in the cycle. As one growth driver has faded, a new one has stepped into its place. Read more here

12.01.2022 Case Study Coffee Shop Andrew has been running his coffee shop since June 2018, and things are going great. So great that the business is in need to employ more staff, purchase coffee and cooking equipment and complete a new fit-out to satisfy the current demand and growing clientele around the area. Their bank has said NO to a business facility to support the business growth spurt, this is because the business hasnt been around for long and they dont have full two financ...ial years of trading and company returns. We got in contact with Andrew by an existing client of our business who recommends him to speak to us, and this is what we did for his business in less than a week: Established a relationship with their accountant to make things easier for Andrew, so he could go back and focus on his daily operation. Funded $50,000 over 18 months Structured payments on a weekly basis. Had funds in the business bank account within 48hrs of approval Put the right finance in place to assist with their needs/cashflow Now, if your bank is not allowing your business to growth, is time to get In touch and let us do what we do best; to #support #SME grow and get ahead from the bunch. #financemadeeasy #mortgagebroker #whateverittakes

11.01.2022 Brokers provide the Australian consumers with CHOICE, and when the market offers more than 1,450 different products, it makes sense to seek advice from a professional. We Keep competition Alive We Provide with real Choice We Make the Banks compete between each other and run for your money... We are not sales-people flogging the one product or brand We understand the financial services industry back to front Nearly 60% of home loans in Australia are secured through Mortgage Brokers 96% of borrowers who have used a mortgage broker said their experience was "satisfied" or "very satisfied" 96% of borrowers mentioned that theyd go through a broker again 67% of borrowers that went through a lender answered the same 31.4% of borrowers dealing with banks directly, mentioned that theyd go through a bank again We have maintained the industry honest and allowed millions of people in the country, to access better products and services than the ones offered by their traditional banks. This has allowed for consumers to save thousands of dollars year after year while having access to a diverse range of products. We are here to stay and will continue to provide value to our clients regardless of the political pressure. #dontkillthecompetition #brokerbehindyou #australia #liberalpartyofaustralia #keepcompetitionalive

11.01.2022 The First Home Loan Deposit Scheme has Arrived The FHLDS is an Australian Government initiative, introduced to help first home buyers purchase a home sooner. It does this by providing a guarantee that will allow eligible first home buyers on low and middle incomes to purchase a home with a deposit of as little as 5% (genuine savings).... Is NOW or Never; book a free consultation to find out more about your eligibility. Basic Guidelines: All applicants must be First Home Buyers. Individuals must have earned less than $125,000 and couples less than $200,000 in the last financial year. Couples must be married or de-facto. All applicants must be at least 18 years of age, Australian citizens and have a Medicare card. The Scheme will only apply to Owner Occupied home loans repaid on a principal and interest basis (property investment and Interest Only loans are excluded). There are property thresholds which vary depending on the location - list of property price thresholds. Applicants must have a minimum deposit of 5% accumulated through genuine savings. Separate to the 5% deposit, applicants must have funds to cover Stamp Duty, Bank Fees and Government Transfer fees where the LVR is above 95%. With only 10,000 subsidies available you might want to secure your spot today.

11.01.2022 Case Study -Sheena came to us wanting to get approved to buy her first home She earns enough income to service 100% of the purchase price as per bank guidelines -The money saves in her account is about $12,000 which wants to use majority of, towards furnishing the house -Her bank said No ... -Another bank said maybe if you have a Parental Guarantee -The bank above, said NO after realising that Sheenas mum did not earn enough income to service the debt We found a solution for Sheena so she could buy her first place and use as less money as possible based on her needs Found a bank that does not service the parental guarantors all servicing is to be met by the applicant/s with parents providing a limited security guarantee only. #doitright #firsthomebuyer #riseandahine #mortgagebroker

10.01.2022 Government extends instant asset write-off deadline The federal Treasurer has extended the $150,000 instant asset write-off scheme by six months to help businesses buy new and second-hand assets and help improve cash flow. Earlier this year, the federal government announced that it was increasing the instant asset write-off threshold from $30,000 to $150,000 and expanding access to include businesses with aggregated annual turnover of less than $500 million (up from $50 m...illion) The boost write-off formed part of the governments first targeted $17.6-billion stimulus package designed to keep Australians in jobs, keep businesses in business and support households, in light of the growing impact of the coronavirus (COVID-19) pandemic on the domestic economy. We believe that Its a great benefit for businesses because they may be put off a purchase for some time because normally they would need to depreciate it over a number of years, but now they can do it all in year one. It makes it a lot more tax-effective for these businesses to go out and get that equipment, and that will help the economic activities of this economy #supportsmallbusiness #ato #finance #covid #mortgagebroker

09.01.2022 As the world grapples with the COVID-19 situation unfolding, I wanted to let you know we are committed to helping our clients through what will likely be difficult and challenging times ahead. Flexible meetings are second nature to my business and I can work with you to get your finance approved on terms youre comfortable with. We can meet via video or phone and Ive got some great technology setup available to complete your loan application and sign documents electro...nically. Your financial wellbeing is a priority. Now is the right time to focus on your finances. Many lenders are offering support and Im here to help you work with your lenders. Get in contact with me today and well set up a time to discuss: -Your loan and repayment options -The current equity in your property -Your options available to reduce interest rates - including repricing to see if your current lender can assist -Offset accounts and redraw facilities -Your mortgage rights and responsibilities This is a tricky time for us all, but together we can get through it. I hope you and your families remain safe and healthy during this time. Please dont hesitate to get in touch if I can help.

08.01.2022 Meet Christine, A very energetic and charismatic person who not only loves #dogs but also has a Pet boutique in the Gold Coast. When she first started we provided with a suitable #finance solution for her business idea. Now her business has grown and we have helped Christine to move on, onto a better product and finance arrangement. #smart Its great that your business is growing. Nows the perfect time to look at your finance to see if its right to keep moving forward. The ...finance that you put in place to get you this far may not be ideal to get you where you want to go over the next few months or years. Talk to us today and well review your financial situation and identify the products that could help keep you growing. The finance industry has in excess of 1,400 products and loan options for you and your #business. Some that dont rely on property security. See more

07.01.2022 2019 Federal Budget $7.1bn surplus in 2019-20 $13.3bn in net new spending over 5 years to 2022-23.... The Federal Budget 2019 has been handed down ahead of the next Federal Election in May. Unsurprisingly, Budget 2019 focuses on tax cuts and additional spending, albeit while maintaining fiscal prudence. For households, the focus is on tax relief for low- and middle-income earners. For businesses $400mn, a near-term benefit in the form of a further extension of the instant asset write-off provision up to $30,000 An increased infrastructure spending with $2.9bn and a further 1.6bn to improve traffic safety and flow in urban areas Health will have an injection of $1.7bn to strengthen Medicare, improving quality accessibility of aged care Fast-tracking the company tax rate cut to 25% for small and mediumsized companies with an annual turnover of less than $50 million by 2021-22 Employers will be eligible for a $4,000 incentive payment under the Additional Identified Skills Shortage Payment. Apprentices will be eligible for $2,000, paid at key milestones in their apprenticeship $3.9 billion towards the Future Drought Fund which will be established in July 2019. This fund aims to enhance future drought resilience, preparedness and response across Australia $60 million to improve internet and mobile services in regional Australia $45.5 million to establish Cancer Treatment Centres in regional Australia for radiation therapy Tax relief for low-and middle-income earners of up to $1,080 for singles or up to $2,160 for dual-income families. The offset will be available for the current tax year and up until 2022 Personal income tax rates will be reduced from 2024-25, with the Government replacing the 32.5% and 37% thresholds with a single 30% threshold $328 million over four years from 2018-19 towards Initiatives to reduce domestic and family violence against women and children $187.2 million to bring forward the indexation of all remaining GP services items on the Medicare Benefits Schedule (MBS) to 1 July 2019 What a great country we have, this is our home #australia @ Robina Town Centre

07.01.2022 Want to know more about the Federal Budgets "Instant Asset Write-Off? What is it? An instant asset write-off allows small businesses (with an annual turnover of less than $10 million) to claim immediate deductions (up to a limited amount) for new or second-hand plant and equipment, asset purchases such as vehicles, tools and office equipment. Click below to learn more

05.01.2022 We’ve put together a set of tips to help you avoid breaking the bank and falling into debt, making your festive season a little less stressful.

05.01.2022 Back to Basics Lets talk about Cash Flow Cash Flow and Profit are two very important but different aspects of a business.... -Cash flow is money that flows and and out of a business -If a customer does not pay at the time of purhacse, the amount owed is recorded as a debtor and converted to cash, then funds are received -Large debtors may take as long as 60-90 days to pay their invoices -Cash is needed to meet current and near term obligations such as payments to supplier (creditors), wages, rent and tax -Liquidity is a measure of the business ability to cover assets (including debtors, stock, chattels or fixed assets) into cash quickly Business can be profitable but have inadequate cashflow, in the short term, liquidity can be more important than profitability. A lack of adequate cash flow will put strain on a business ability to meet its ongoing commitments Business can be vulnerable when sales are growing rapidly and having the right finance in place can make a huge difference to your future performance and cashflow We help business get cashflow right #cashflow #sme #australia #goldcoast #businessowner

04.01.2022 Worth a read for the Investors who will face a nightmare over the next three years, as interest-only loans worth a combined total of about $360 billion will roll over to Principal Payments. Banks have stopped investors from rolling over the Interest Only period with a simple request, now they require a full assessment and is not straight forward by any means.

04.01.2022 It’s no surprise that the outbreak of COVID-19 has caused a huge increase in mortgage stress. According to the Australian Banking Association (ABA), more than 485,000 mortgage repayments were deferred between February and June this year.

04.01.2022 Why are lenders looking more closely at our living expenses? Play the game to Win! https://bit.ly/3guMXlr

02.01.2022 The Reserve Bank of Australia Reduces the Cash Rate. Two of the big majors have actioned the rate cut. However, ANZ has decided to pass on 0.18% at the moment, while CBA has passed on the full 0.25%. After 33 consecutive months with no move in the official interest rate by the RBA, we welcome the news with wide arms open. ... Dont be fooled by the percentage of rate cut pass or not from any particular bank. Every financial institution has a different base rate and that is what matters. If a bank that passes the full cut, still has the highest base rate on the market, then you are not really better off. What does an interest rate cut mean for prospective borrowers? The RBA will hope that the lower rates will stimulate more borrowing activity and for this to flow through to additional economic activity. What does an interest rate cut mean for current borrowers? If your loans are on a variable rate, expect to see a reduction in your monthly repayments. If your rates are not reduced over the coming days it might be a good opportunity to speak to us about a potential refinance. Want to review your finances or get a better rate? We are here to help.

01.01.2022 Asset and Equipment Finance Its a common question for small business owners; how do you get your hands on the equipment you need to grow, while still keeping the all-important cash flow and working capital at healthy levels? Choosing the right asset and equipment finance can give you further benefits than just preserving your day-to-day funds:... Fixed repayments may give you the ability to budget more accurately The asset secures the loan, in which case you dont have to lock up your property security which can be preserved for future finance such as working capital There may be potential tax advantages to consider What can be financed? Any asset, plant or equipment that can help generate income for your business may be able to be financed, and can include: Motor vehicles Commercial vehicles Plant and machinery Agricultural equipment Solar power equipment Computers, photocopiers and phone systems Medical and dental equipment Office equipment General business equipment Internal fit-outs What types of asset and equipment finance are there? There are many different financial products available - some more popular than others, and its important to understand and seek guidance, so you can determine which product may be most appropriate for your business needs. The options include Commercial Hire Purchase, Chattel Mortgage, Finance Lease, and Operating Lease and we can help you evaluate the key benefits and differences for each product.