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How to maximise your borrowing capacity from your business
Manage episode 435245856 series 3363549
A tartalmat a Stuart Wemyss & Mena Abraham, Stuart Wemyss, and Mena Abraham biztosítja. Az összes podcast-tartalmat, beleértve az epizódokat, grafikákat és podcast-leírásokat, közvetlenül a Stuart Wemyss & Mena Abraham, Stuart Wemyss, and Mena Abraham vagy a podcast platform partnere tölti fel és biztosítja. Ha úgy gondolja, hogy valaki az Ön engedélye nélkül használja fel a szerzői joggal védett művét, kövesse az itt leírt folyamatot https://hu.player.fm/legal.
In this episode, Stuart and Mena explore strategies to maximise borrowing capacity from your business profits. They stress the importance of having a knowledgeable broker who can effectively advocate for you with bank credit managers. The duo highlights the significance of financial "add-backs," such as interest and depreciation, which banks often consider when determining serviceability. Properly reporting these expenses can substantially enhance your borrowing position.
They also discuss the distinction between regulated and unregulated credit, the benefits of using corporate tax rates for serviceability analyses, and when a corporate beneficiary might be advantageous. Liabilities can be a hindrance to borrowing, but they suggest paying down corporate liabilities if they impact your borrowing power.
Finally, they touch on how director payments can affect your loan application, particularly in partnerships. Stuart and Mena explain how dividends and salary/wage structures can be optimised to ensure the bank considers your income fully. For business owners looking to leverage profits for borrowing, this episode provides key insights and actionable tips.
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IMPORTANT: This podcast provides general information about finance, taxes, and credit. This means that the content does not consider your specific objectives, financial situation, or needs. It is crucial for you to assess whether the information is suitable for your circumstances before taking any actions based on it. If you find yourself uncertain about the relevance or your specific needs, it is advisable to seek advice from a licensed and trustworthy professional.
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