A lot of people don’t know much about their options right now. This resource list provides quick links that include information on the available assistance, packages, and useful resources from government and other agencies for residents in Western Australia. 

Health-related Information and Updates

• health.gov.au – daily updates on how the Australian government monitors and responds to the outbreak, current facts and figures, travel advice, key contact and phone numbers
• WA Department of Health – information and details about COVID-19 in WA

Assistance available for Western Australians

Unemployment or Loss of Income

• Federal income support for individuals – check what you can get, register your intention to claim, and finalise your claim
• Crisis Payment for people who are in severe financial hardship – check if you’re eligible, provides details how much you can get and ways how to claim it
• Register your intent to claim Centrelink payment – register your intention to claim through online and they will contact you for the next steps
• WA Stimulus Package – State of emergency measures, travel advice, government stimulus, pandemic response plan, testing clinics, public information

For small business owners

COVID-19 Support for Perth SMEs – This is a comprehensive guide we have published which includes details on how small business owners in WA can get access to the stimulus package currently being offered by the federal and territory government. 

Quick Links

• List of banks which are freezing mortgages for COVID-19 – If your bank doesn’t appear on the list, don’t panic. Even if your bank has not yet announced it is offering repayment holidays for home loan customers, almost all banks offer financial hardship programs, intended to help customers experiencing difficulties manage their finances. Contact your bank, explain your situation, and work with one another to look for a suitable solution.
• Deduction for expenses of employees working from home
• Steps to take if you’re struggling to pay rent – steps to help you stay in your home and avoid evictio
• Information for WA Tenants 
• Financial support for energy and internet bills

Hope you found these quick links valuable. If you want any additional information on, or you have a specific circumstance which was not covered in the list, feel free to give me a ring on 0408 081 082 or send me an email kirsten@soulfinancegroup.com.au I’m here with you and I’m here for you!

Disclaimer:

Credit Representative Number 486927 is authorised under Australian Credit Licence 389328.

This article provides general information only and has been prepared without taking into account your objectives, financial situation or needs. We recommend that you consider whether it is appropriate for your circumstances and your full financial situation will need to be reviewed prior to acceptance of any offer or product. It does not constitute legal, tax or financial advice and you should always seek professional advice in relation to your individual circumstances. Subject to lenders terms and conditions, fees and charges and eligibility criteria apply.

The post COVID-19 Financial Resource List for WA Residents appeared first on Soul Finance Group.

No asset? No worries; Small business loan in Perth

Big banks and major lenders often require that you put down property as security for repayments. However, not every business has the capacity to do so. Fortunately, there are options which don’t ask you put up your assets as security. Oftentimes, these lenders based their approval on the strength of your business, its structure, your bank statements, and credit history among others.

Loans that support small business

Why do you need funds? How are you planning to utilise this to improve your business?

• • Purchase a new equipment or software
  • Buy a new vehicle equipment
  • Business renovations
  • Improve infrastructure
  • Purchasing new capital

What are the features?

Prospa, a small business lending specialist, helps small business owners finance their needs. You can borrow from $5,000 up to $300,000 with repayments that work with your cash flow. You have the option to pay out the loan in 3 months up to 24 months, plus funding possible in 24 hours!*

No asset? No worries

Small business loans with Prospa doesn’t require you to put up a security with loan amount of up to $100,000. This is suitable for business owners who do not wish or don’t have the capacity to attach an asset as a guarantee.

How to apply

Submit your details and a Soul Finance Group finance broker will call you for a quick chat to see if you have any questions, Then, if you’re comfortable to proceed, you will be guided through the application. You will be asked to provide the following:

• • Driver Licence
  • Business ABN
  • 6 months business bank statements

Are you eligible?

If your business has a turnover of more than $6,000 per month and can demonstrate 6 months of trading for a new business, or 3 months if you’ve purchased an existing business, we most certainly can help.

The takeaway

Securing a finance need not be a tedious process. You already have your attention and time towards building your business and we wish to take the stress away by helping you fund your business needs. Don’t worry about putting up a security as we have access to a small business lending specialist that can help you. The process is quick as you could have a decision in as little as an hour, with funding possible in 24 hours.

You can visit business http://businessloan.soulfinancegroup.com.au for more details.

If you wish to know more details, give me a ring on 0408 081 082.

*Fees, terms and conditions apply.

Disclaimer:

Credit Representative Number 486927 is authorised under Australian Credit Licence 389328.

This article provides general information only and has been prepared without taking into account your objectives, financial situation or needs. We recommend that you consider whether it is appropriate for your circumstances and your full financial situation will need to be reviewed prior to acceptance of any offer or product. It does not constitute legal, tax or financial advice and you should always seek professional advice in relation to your individual circumstances. Subject to lenders terms and conditions, fees and charges and eligibility criteria apply.

The post No Assets? No Worries; Small Business Loan in Perth appeared first on Soul Finance Group.

5 Perth Mumtrepreneurs That You Need to Know About Now

I’ve turned to some of Perth-based businesses who are owned by mums for inspiration on running a business while successfully raising their kids. Some have a fulltime office role while others quit their day job just to branch out on their own.

It wasn’t a walk in the park. So in celebration of Mother’s Day, I’ve rounded up a list of Perth mumtrepreneurs who inspire us to never stop hustling.

MIGHTY ABLE

Might Able is a business dedicated to celebrating all abilities. It is owned by Emma Albert, mum of Mighty Mikey. (Check out their story!) Emma’s journey wasn’t easy and she was on an emotional rollercoaster. However, she wanted to take the focus away from what they are told they can’t/won’t do and make everyone feel inspired and empowered. Her business features inclusion clothing with some powerful statements. The proceeds ensure Mikey’s continual improvement.

MANAGING THE JUGGLE

Two girlbosses, Jo Alilovic—an employment lawyer and a business owner, and Lucy Dickenrs, a senior associate, have a penchant for inspiring fellow women who are juggling their career and family life. They host “The Jungle Podcast” where they interview like-minded mum jugglers, thought leaders and employers to try to uncover what makes the juggle successful.

LAURYN STANLAKE SLEEP CONSULTANT

Lauryn Stanlake is an internationally certified newborn, infant and child sleep consultant. She works with parents who are sleep deprived, emotional, exhausted and doubting themselves at every turn and who are so overwhelmed and confused by all the information out there that they are unable to make a clear decision and follow through.

She herself went through 8 months of severe sleep deprivation with her firstborn before seeking help. Now, she wanted to provide that same help to mums who need it.

IN.DULGE

In.dulge Perth sells the most divine strawberry towers, dessert cups, cupcakes and more. This was initiated by Sophia Adam and Dana Parker 3 years ago, having 3 babies under 3 between them. Running this business for them means constantly working between naps, having business meetings during breastfeeding sessions, and responding to emails/enquiries after bedtime.

BLISSFUL MAMA MASSAGE THERAPY

A rejuvenating massage experience for women to ease discomfort, relieve stress and experience total relaxation during pregnancy, post-birth and beyond—that’s what Blissful Mama Massage Therapy is all about. Owned by Katrina Van Biljon, this is a convenient mobile and clinic-based service which offers a range of massage therapies, specialising in pregnancy, post natal and relaxation massage for women or relaxation/deep tissue for men. Whether you are seeking a pampering experience or need to ease discomfort in muscles and joints, they make it easy to take time out to nurture yourself.

The post 5 Perth Mumtrepreneurs That You Need to Know About Now appeared first on Soul Finance Group.

Getting a small business loan in Perth

So you’ve got a brilliant idea, a unique selling proposition, and a marketing plan to start your own company but there’s one thing that’s stopping you—you don’t have funds. The idea of being your own boss is an exciting thought until you find ways on how to finance it. I’ve heard so many stories from people who failed to pursue their business dreams because they didn’t realise that there are a number of finance options available.

Navigating through these deals can be tricky, hence this article aims to walk you through the important things you need to know.

What types of business loans are there?

These can be split into two main types of finance: equity finance and debt finance. Equity finance is money that is sourced from within the business or from an investor and doesn’t need to be repaid. Debt finance is money that is borrowed and needs to be repaid. Here are some examples of equity and debt finance:

Equity finance

• Self-funding
• Venture capitals
• Initial public offering
• Investments from family and friends
• Private investors
• Crowdfunding
• Government grants

Debt finance

• Loans from banks
• Loans from standalone business lenders
• Invoice factoring
• Loans from family and friends

Lenders have different criteria to determine whether you are eligible for a loan. Want to know if you are? Chat with me today.

Small Business Loan Requirements

The following list includes general requirements. The lender may require additional documents along the way.

• Accountant-prepared financial statements
• Proof of individual income
• Bank statements
• Identification

Small Business Loans Available in Perth

If you are looking to finance your dream business in Perth, there are many options available. GetCapital offers a flexible business loan from $5,000 up to $500,000 with convenient top up and redraw facilities. Business must have been operating for 9 months+ and have monthly sales of $10,000+. Prospa lets you borrow $5,000 to $250,000 that can be funded in 1 business day. Must have a turnover of $6,000+ per month and provide 6 months of trading history, 3 months history for existing business purchases. Moula can loan you an amount of $5,000 to $500,000 that can be approved and funded within 24 hours and available to businesses with 6+ months operating history and $5,000+ monthly sales. There’s also Spotcap where it offers a line of credit of up to $400,000 that converts into a loan when you draw down.

Quick tips:

• Be clear on why you want to borrow. The outcome of your application is strongly influenced by how well your proposal is researched and how well it’s presented.
• Know how much the loan amount is. Keep in mind that the longer the loan term – the more total interest you’ll pay.

Ready to fund your dream business? Or do you still have some questions unanswered? Happy to clarify them for you. Drop me a message on Facebook, Instagram, or you can always send me an email.

Disclaimer:

Credit Representative Number 486927 is authorised under Australian Credit Licence 389328.

This article provides general information only and has been prepared without taking into account your objectives, financial situation or needs. We recommend that you consider whether it is appropriate for your circumstances and your full financial situation will need to be reviewed prior to acceptance of any offer or product. It does not constitute legal, tax or financial advice and you should always seek professional advice in relation to your individual circumstances. Subject to lenders terms and conditions, fees and charges and eligibility criteria apply.

The post Getting a Small Business Loan in Perth appeared first on Soul Finance Group.