16 June, 2023
With June 30 fast approaching, small businesses will need the support of their brokers to act fast and take advantage of the available tax breaks.
But with traditional banks adhering to stricter standards and therefore taking longer for loan approvals, the deadline may have already slipped away.
Cameron Poolman, CEO of non-bank lender OnDeck Australia, agreed. He said it was one thing to have a tax break available, but as brokers knew, small businesses often needed funding to take advantage of deductions such as temporary full expensing.
“We have pulled together strategies that may allow small businesses to enjoy a tax break this financial year,” Poolman said.
One such strategy is OnDeck’s Lightning Loans, which offers a fast-tracked application and approval process for loans up $150,000 with funding decisions taking no longer than half an hour.
Read the full article here.