​For borrowers trying to save money on their home loan, it might be worth looking at the frequency of your repayments.
 
A small change from monthly to weekly might not make much of a difference to your household budget, but it could go a long way to cutting down your interest over the life of the loan.
 
The most important thing to know about home loans is that interest is calculated on the daily balance and charged to the loan account monthly in arrears.
 
If you take the minimum monthly repayment and pay half every two weeks, borrowers can save a significant amount off both the term and interest.
 
There are 26 fortnights in a year – the equivalent of 13 monthly repayments rather than 12, meaning you’re actually paying more than the minimum.
 
If borrowers choose to pay weekly, they could save more on interest but not so much on the term.
 

​Most business owners would understand the frustration that comes with having to get paid for work or orders that have already been completed.
 
In many instances, businesses might need to wait 60 days or more to get paid, which can put a strain on the business's cashflows and makes it difficult to grow.
 
Fortunately, there are options to help alleviate the stress of waiting to get paid.
 
Business loans 
A business can often get a fast cash injection by way of a business loan or line of credit.
 
Business loans are organised through a lender with the help of a finance broker. Each lender will have its own criteria that a business must meet to get approved for a loan. Loan amounts will also vary between lenders.
 
Typically, a business loan is unsecured, which means that the interest rate will normally be higher than a comparable secured loan.
 
As a result, a business loan might be a quick way to help with a business's cashflow, however, it still might come at a cost.
 
Invoice finance 
Another option to help elevate the cashflow issues that come from waiting for payments is invoice finance.
 
Invoice finance is also organised through a lender, but is normally done on an ongoing basis. This means your business and the lender will have an ongoing relationship which in turn tends to lead to more flexibility and potentially cost-effectiveness.
 
If you set up a certain arrangement with a lender, it’s possible to change terms as time goes on as your business grows or if your requirements change.
 
Invoice finance is a good option if you’re looking at ways you can grow your business with the help of a lender. It can save you from making repeat applications for finance and there are also other features that the lenders can offer that might be able to assist your business.
 
 

For businesses, the ability to access finance can make a huge difference to your success and ability to grow.
 
Regardless of the type of asset finance you’re looking for, your ability to repay debt will likely be examined by a lender. Lenders will assess your risk profile to determine things like your interest rate, so it’s important to understand how your business looks in the eyes of a lender.
 
Here are some factors that impact your risk profile:
 

• Length of ABN registration
• Your business’ performance
• GST registration
• Whether the loan is secured or unsecured
• Low doc vs. full income verification
• The asset
• Equity