Invoice & receivables finance
Turn 60-day terms into cash this week
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Business
Business loans & working capital
Assessed on how you trade, not only on what you own
Overview
Term loans from $25,000 to $5 million for expansion, equipment and premises, plus revolving facilities for the gap between paying suppliers and being paid by customers.
We read your interim financials and bank statements, not just your balance sheet. A business with strong cash conversion and little collateral can still qualify.
Why HBI
A bank that reads your interim financial statements
Business banking at HBI starts from how you trade. We look at cash conversion, customer quality and the people running the business, not only at what could be pledged as security.
From the Growth tier upward you deal with a named banker who knows your file. They have a direct line and a published response time, and they stay with the relationship as the business grows.
What you get
Everything that is included
The full list, not the highlights. If something is not here, it is not included.
Features
- Term loans of $25,000 to $5 million over 12 to 84 months
- Revolving lines of credit from $25,000, charged on the drawn balance only
- Interest-only periods of up to six months on expansion lending
- Collateral options including personal guarantees, receivables and equipment liens
- SBA 7(a) and 504 loans, plus dedicated teams for franchises and professional practices
- Combined facilities that sit alongside invoice and equipment finance
What you need to qualify
- Two years in business, or one year for franchises and professional practices
- Twelve months of bank statements and the latest interim financial statements
- Business tax returns for the last two years
- A personal guarantee from owners holding 20% or more, in most cases
Not sure you qualify?Speak to a banker before applying. A conversation costs nothing and does not touch your credit report.
Calculator
Work out the repayment first
Change the amount, the term or the rate and the three figures update as you type.
How it works
Three steps, start to finish
What happens, in what order, and roughly how long each part takes.
Talk to a banker
A short conversation about what the money is for and how it will be repaid. This shapes the structure.
Submit financials
Interim financials, twelve months of bank statements and the last two years of tax returns.
Decision and funding
A credit decision within five business days, then funding once collateral, where required, is in place.
Good to know
How we look after you
Three commitments that apply to every business product, this one included.
Controls come switched on
Dual authorization, account verification and user permissions are the default on business profiles. You choose to relax them; you do not have to remember to add them.
Your data feeds your books
Daily statement feeds run to QuickBooks, Xero and NetSuite, and reconciliation files are available for anything else, so month end starts from matched figures.
Decisions come with reasons
When we decline or reduce a facility we explain why and what would change the answer, so the next application is a better one.
Questions
Questions clients actually ask
If yours is not here, a banker will answer it directly.
Not necessarily. We take a view on cash flow, customer quality and industry. Real estate strengthens an application and usually improves the rate, but it is not a precondition.
Usually, for owners holding 20% or more. We will tell you up front, and a limited guarantee is sometimes possible where the business has a strong track record.
Generally we need two years in business. Franchises with an established brand and professional practices can qualify after one year, and SBA loans can help newer businesses.
Rates are tied to the Prime Rate and set on risk, typically Prime plus 1% to Prime plus 6%. Your indicative rate is quoted before you submit a full application.
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Ready to take this further?
Apply online in about ten minutes, or ask a banker to call you at a time that suits.