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A problem most used car dealers will face, especially in South Africa, is how tough it can be to find financingwith terms that work for your used car business. This can be a make or break factor for your used car dealership. Floor plan financing is a great option for used car dealers looking for better financing terms.
What is Floor Plan Financing?
Floor plan financing is a type of lending where a dealer can borrow money against the value of the cars and inventory they have on their lot. This allows dealers to keep more cars on their lot, and offer their customers a wider selection of cars.
Benefits of Floor Plan Financing
There are many benefits of floor plan financing for used car dealers. Some of the most notable benefits include:
- Increased Cash Flow – By financing your inventory through a floor plan lender, you can improve your cash flow by having the inventory financed. This will free up your cash flow to use for other purposes.
- Improved liquidity – A floor plan lender can provide you with the liquidity you need to grow your business. This will help you to expand your inventory and grow your business.
- Improved Credit Rating – A floor plan lender can help you to improve your credit rating by providing you with the financing you need. This can help you to obtain other financing in the future, potentially for larger amounts, such as when you may need to invest in larger premises as you grow.
- Increased Efficiency – A floor plan lender can help you to increase your efficiency by providing you with the financing you need to buy inventory. This will help you to sell more cars and improve your bottom line.
- Achieve Stock Plan Objectives – do you have specific stock plan goals you want to achieve in your used car dealership? Floor plan finance gives you quicker access to cash and gives you the power to make purchase decisions when it comes to acquiring new stock for the floor.
What Finance Options Are Available To Me?
Traditional bank loans or business loans can take too long to be approved and you may miss out on acquiring new stock for your used car dealership floor. Specialised car dealership floor plan finance provided by floor plan financing companies, fast-tracks your application for quicker approvals to give you the purchasing power to acquire stock as and when you need it.
Our finance partners offer a fast-track solution to get up to R150 000 cash in your hands as fast as possible to help you buy stock as you find it. Apply for floor plan finance now.
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The short answer is yes. Yes, you can. Whether you’re buying or selling a business or commercial property, delays resulting from the property transfer process can lead to cash flow issues. Property transfers can be a complicated and lengthy process and it can take months before you actually have the money. Luckily there are ways to help you through this process. A property bridging loan can be used for commercial property as well and is a good option if you need money immediately.
Fast and Hassle Free
This is one of the biggest benefits of a property bridging loan. If you are an investor or entrepreneur you want to move quickly and make sure you can get a move on with the transaction process as soon as possible. With a bridging loan, you do not need to wait for months on approvals and go through the whole tiring and overwhelming process.
You will even receive a response within 48 hours so you will know pretty quickly whether your loan has been approved or not. You will get your funds within 30 days when all the documents requested have been provided and once you receive your funds your business cash flow is immediately improved by approximately 30% which will have a positive financial effect on your property as you can make the necessary changes and improvements you want instead of waiting.
How Can this be Useful?
A property bridging loan can be used if you are buying a new business, commercial property, or part commercial/residential property. You can use property bridging for property purchase, property development, and improvement. You can also use property bridging to improve your credit profile and if you cannot wait any longer for the funds and need the money immediately.
Just like residential bridging, commercial bridging loans can also be useful at property auctions or when the property chain gets broken. It can also be a more convenient and easier way of getting the funds you need especially if you can just apply online. Commercial property includes warehouses, shopping centers, factories, hotels, student accommodation, office blocks, and apartment blocks.
Your Options
Property bridging finance in South Africa will facilitate your cash flow strategy with an Interest Only Mortgage Loan. If you have owned retail, office, and industrial property for more than 3 years you can get an Interest Only Commercial Property Loan and an Interest-Only Industrial Property Loan. At property bridging loans the commercial mortgage refinances packages can be renewed at the end of each 5-year term. To secure a mortgage bond interest only, will require the same application process as a normal bond application and is a much quicker process.
Final Words
Commercial bridge loans can be used for many types of properties. When your project is completed, you as the borrower can sell the property for profit, or the loan can be refinanced into permanent financing, allowing you to continue to own the property.
Pension Loans
Pension bridging loans are loans taken against your pension and provident funds or retirement annuity to supplement your financial responsibilities in the case of retirement, retrenchment, resignation, dismissal, or divorce. These events can put a lot of strain on you, especially if you’re not prepared for them.
Pension Fund vs Retirement Annuity
While you can take bridging loans against these types of funds, it’s important to know that they’re not the same. A pension fund is owned by your employer and has a fixed contribution amount each month, while a retirement annuity is completely independent of your employer and you choose the amount that you contribute each month.
With the retirement age in South Africa sitting at 65, it’s important to set yourself up well in advance of these years as you work your way to a comfortable retirement. Both a pension fund and a retirement annuity can be invaluable when you need them.
What is a Pension Bridging Loan?
A pension bridging loan is a lump sum amount taken against your pension fund while you wait for your full pay-out date. These loans can help you stay afloat when times get tough once work is no more. Retirement can be tricky, and it only takes one glimpse at retirement tax tables to see that it’s not a simple process. There can be a lot of red tape and obstacles, as well as challenges and struggles when retirement comes knocking, or worse still when retrenchment or death shows its face.
This is why it’s important to keep your finger on the pulse and stay informed of your options leading up to retirement and with all the other possibilities of loss of work in mind, too.
The Benefits of a Pension Bridging Loan
Pensions can be hard work when it comes to getting your money out. The process of receiving your pay-out, and the numerous phone calls and emails required can make it a very unenjoyable experience for you. However, there is a solution that can make all the difference. Take out a pension bridging loan! These loans literally “bridge” the gap between retirement (or dismissal, retrenchment, death, and divorce) and pay-out. This means you won’t have to wait longer than you need to, and you can start making your funds work for you in your golden years.
This is what you’ve worked so hard for all your life. Why wait any longer?
How To Take Out A Pension Bridging Loan
If you’re due to receive your pension fund pay-out within the next 6 months, there’s good news; you qualify for an early pension pay-out through a pension bridging loan. All you need to do is head over to their website to apply for your pension bridging loan. They’re a trusted unsecured provident loan lender and they also consider black-listed clients.
Preparing for your future can be a daunting and scary task, but it doesn’t have to be. Take a deep breath, stay calm, and make the next right choice. One step at a time.
Business Loans
The world of business can be vast, and diverse, and a convoluted mish-mash of products, services, and finances all rolled into ever-changing packages and options. It can be overwhelming, and often confusing, to try and gain momentum and grow as a business owner in this kind of climate. From competitive markets to issues of cash flow and expenditure, and the current state of the economy, there are many obstacles and challenges that lie in wait for businesses in South Africa.
It can very quickly begin to feel like a constant uphill battle every time you want to take a step forward as a business. It’s in this current corporate climate that bridging finance has stepped in to assist. Bridging finance refers to the means of getting quick funds in the form of a loan to cover short-term expenses necessary for growth, while you wait for the funds to recoup over a short period of time.
What Is Business Bridging Finance?
Bridging finance for business is the financing of business loans for immediate costs that your business needs to cover. As your business begins to grow, expenses will generally grow at the same time. This can be a tricky situation to navigate for your business because while it may be growing, cash flow can still become a hard line to balance. This is where bridging loans for business are so crucial.
Why Take a Bridging Loan for Your Business?
There are several really good reasons to take out loans for business in South Africa. Business owners can get access to funds immediately by taking out a business loan, which can help facilitate the continued growth and expansion of the business, as well as cover any short-term expenses of the business.
How To Get a Business Bridging Loan for Your Business
Trusted and secure lenders such as business-loan.co.za provide a fast and easy solution to businesses looking to secure bridging loans for immediate use. The application process is simple and to the point, and businesses can get their approved loan in as quickly as one day. If you’re an established and registered business that’s been operating for more than 12 months and have accrued more than R1 million in sales in the last 12 months, then you’re eligible for a business bridging loan. Additionally, you can provide bank statements or issued invoices to verify and substantiate your application for a business loan.
Are You Ready for Your Business Bridging Loan?
Now that you’ve got a good insight into what a business loan can do for your business, the obvious next step is a decision. If you’re in need of immediate funds to propel your business to the next level, a bridging loan might just be what you need. Ask yourself this question; are you ready for your business bridging finance? If the answer is “yes”, don’t hesitate to explore our unsecured business loan and apply now to access business loan funds.
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With the current economic climate in South Africa looking more and more grim, it seems as though loans and, in particular, bridging loans in South Africa are becoming increasingly popular. Recent changes in laws around early pension withdrawals have seen a rise in people leveraging their retirement savings to help short-term cash flow problems that they’ve experienced due to retrenchment or early retirement, as well as a host of other reasons including divorce, dismissal, or even resignation.
This trend is most evident in the older population as retirement nears and pension funds may be needed sooner than later. Retirement can be a scary process, and reckoning with your pension is often a very daunting process, too. This is why there are options available to help ease the pressure and put you on the front foot of your retirement. Such options come in the form of pension loans, also known as pension bridging loans.
What Is a Pension Loan?
Pension bridging loans provide you with the opportunity to withdraw funds from your pension or provident fund in advance while you wait for your pay-out. With Pension Bridging, if you’re due to receive your pension fund pay-out within six months then you’re eligible for an early pension pay-out. This means that you can withdraw money against your pension or provident fund in advance and put it to use as and when you need it, without having to wait any longer.
Why Take a Pension Loan?
In todays financial climate it’s become more necessary to receive help via some sort of loan, whether it’s a home loan or a business loan. Pension backed loans are becoming increasingly popular, too, particularly among people who are retiring or who may have been retrenched or dismissed unexpectedly.
One major benefit of taking a loan against your pension is the cash flow injection that it brings to your current financial state, which in turn can turn the tide on any outstanding debt you may have and ultimately reduce your monthly payments.
Another advantage to this is because the loan has your pension as security, there is a greater possibility of leading institutions offering more competitive rates on these loan charges than they would typically offer on student loans or personal loans.
There are great benefits to gaining early access to your pension funds via a bridging loan in the fact that there’s zero risk involved, especially when you go through a provider like Pension Bridging.
There can often be a significant risk of losing your hard-earned retirement funds when working with unregulated institutions that charge unscrupulous amounts of fees and interest. This is not the case here, as loan charges and costs are regulated and governed by the National Credit Act and Financial Services Board, regulations in South Africa.
This Is Your Time
Managing your money and saving for your twilight years has never been easier. If you’ve not begun thinking about your future after work, this is your time to start.
