BB005 - What type of loans can I apply for?

We have the following Loan Purpose options:
1.  Contract Finance
Contract finance is the name given to a loan that is provided against a signed contract that your business has won, and the money must be used to complete the contract work.  You will have to supply information with regards to the contract, upload relevant documentation and payments will be made to suppliers directly.  The purchase order details and invoice will have to be supplied before payment will be approved. You will also need to supply a breakdown of the Contract Value as well as Estimated Material, Labour and Operational costs 

2.  Refinancing Existing loan
The replacement loan can be to cover the outstanding balance or can include an additional amount.  We will need a balance certificate for the existing loan.  Payments will be made to the current lender. Any additional funds can be withdrawn.

3.  Additional loan for normal business
You may apply for an additional loan, however we will assess affordability before approving the loan. 

4.  Additional loan to cover salaries in getting back to work post Covid-19
You may apply for an additional loan, however we will assess affordability before approving the loan.  Payments can be made to employees from the 4AX loan account.

5.  New loan
If you currently have no loans, we will assess affordability.

6.  New loan to cover salaries in getting back to work post Covid-19
If you currently have no loans, we will assess affordability.  Payments can be made to employees from the 4AX loan account.