Greenfield business loans are for new businesses started by entrepreneurs. The term Greenfield means it’s a brand-new business, not one that was already running and then bought.

For these loans, banks look at the director’s profile. They like to see that the director has a lot of experience in the industry they are entering. This experience is important because it shows the director knows what they’re doing.

Banks don’t like it when someone changes industries completely. For example, a plumber starting a meat shop might be a struggle to get over the line. Banks prefer if you open a business in an area where you have expertise.

Another key factor for getting these loans is having some property as security. However, we have been able to get finance for clients without property security. In such cases, a minimum required cash contribution from the director can serve as security instead.

Sometimes, people think they need to leave their jobs to start their own business and get a Greenfield loan. But many have kept their job and hired a manager to run the new business. This is important because having clear management experience in your chosen field will clearly reduce the risk.

Banks like it when you keep your day job to cover monthly expenses and build your business at the same time. This way, your business can pay its bills, daily costs, and still make a profit in due course, if the operations are managed carefully. We can help you with this, along with advice from your accountant.