Things to know about no doc commercial loans

An old adage is that you need to spend money to make money, and for everyone trying to manage their own business, this seems very much true. While many people may benefit from borrowing money, not everyone has the right documentation to get the deal they need, and this is where no doc commercial loans come in handy.

As the name implies, no doc commercial loans require no paperwork to prove income to the lender. There are some obvious benefits and disadvantages to getting a no doc commercial loan so those who are considering it should think carefully and find out if their circumstances are the most appropriate for this kind of borrowing solution.

Let’s take a look at the top things to know about no doc commercial loans.

Why would I need one?

At the most basic level, the reason for getting a no doc commercial loan is because you can’t produce the adequate income history to borrow traditionally. This could be for a range of reasons, but primarily people who are self-employed with limited financial history find themselves accessing this borrowing option.

The people who primarily use no doc commercial loans are:

  • Self-employed people
  • Startup businesses
  • A business that has a complicated structure
  • A business that fails to demonstrate a high income, usually because they are re-investing fund back into the business

Due to the inherent higher level of risk associated with no doc commercial loans, they will almost always have higher interest rates attached to them. You’ll also often be required to provide some kind of security for the borrowed amount, such as an asset that can serve as collateral.

How much can be borrowed?

Without proving any income, you can normally borrow up to 65% of the property’s value. Some people can even qualify for a no-doc commercial loan when they have bad credit history.

How does a no doc commercial loan work?

This type of borrowing arrangement is often referred to as an “asset lend” because the bank is primarily anchoring their risk around the stability and value of your security assets rather than your ability to repay.

This requires the borrower to sign a declaration that confirms you are knowledgeable about the repayments and are able to afford them. Normally, you won’t have to demonstrate your income at all but you may be able to get a better interest rate if you are able to.

Because of the nature of the lend, you won’t need to give any supporting paperwork such as business activity statements, accountancy letters, bank statements or tax returns. There may however be other paperwork related to the property itself, any existing amounts you have borrowed and the evidence of your security deposit.

You are permitted to use the money for investments in property, investments in shares or for using as working capital. The money is not allowed to be used on personal expenses or residential property because then the borrowed money would need to be regulated by the NCCP.

If it’s regulated by the NCCP (National Consumer Credit Protection Act) then the lender will need to make sure of your income, at which point it would no longer be a no doc commercial loan.

Should you get a no doc commercial loan?

Your suitability for no doc commercial loans depends on the aforementioned factors that are individual to your circumstances. Primarily, this borrowing option is born out of necessity for those who have no other means to prove their income or have some other complicated reasoning.

Due to the higher interest rates and reliance on collateral assets, these borrowing options might not be the most appropriate for those who aren’t confident they can meet the repayments. Ultimately there is a trade-off when it comes to borrowing without robust paperwork behind it.


Great occasions for corporate gifts and merchandise

Handing out corporate gifts and merchandise is an important step in gaining clients and consumers’ trust and loyalty towards your business. Of course, it is not about bombarding them with these items as it can become overwhelming and annoying to constantly be receiving corporate gifts and merchandise from a specific business.

Finding the right corporate gifts and merchandise for the right occasion can be a really powerful marketing tool. Below is a list of occasions that are ideal situations for handing out gifts and merchandise.

Trade Shows

This is probably one of the more traditional environments for corporate offerings as it is an opportunity for people to really engage with and learn about your business.  Having a small offering in these circumstances provides the ideal connection for the customer or client to the business so that they remember their experience and are reminded of the company’s services.

A constant reminder of the company’s services or products to the consumer results in free, ongoing marketing for the firm an means that they are likely to choose that brand or product over another.

Employee recognition

Having corporate gifts and merchandise readily available at all times is a great way to ensure that there is always something valuable around to present to employees who have shown tremendous effort or reach a milestone.

Showing your employees that you care and value them as a member of your team and company is a great way to maintain and potentially increase their output whilst encouraging them to strive for greater heights within the firm.

Customer or client appreciation

Being able to show your customers and/or clients that you appreciate their loyalty and constant communication encourages them to continue to do so and go the extra mile for your business. Corporate gifts and merchandise are a great way of doing this as they are sure to remember who gave it to them but it also acts as a token of appreciation.

An offering that is able to both act as a gift and a small marketing opportunity is the ultimate win for your company. Customer appreciation is extremely beneficial not just for the short term of your business but the long term.

New product or service launch

Any business that is launching a new product or service should be eager to get it into the hands of consumers or clients. Word of mouth has been shown to be the most effective form of marketing for businesses leading a recommendation or sample into a conversion and continued purchases.

Offering corporate gifts and merchandise with or through the use of samples is a great way to encourage people to give the new product or service a try. This is designed to then convert people to continue to use the new product or service on a regular basis.

Promotional efforts

Beyond the above, there are so many more opportunities for companies to invest in corporate gifts and merchandise for their consumers and/or clients. When encouraging people to sign up to a newsletter or purchase a new product or even just to by a certain amount of a product, firms will often include a form of corporate gift or merchandise such as a towel, backpack etc. as a further incentive.

In the majority of instances these offerings made in conjunction with a promotion may be small but include items that can be used on a regular day-to-day basis. These incentives are another example of the huge benefit of a gift in that not only are people incentivised to buy their product, but they are also reminded on a daily basis of the company and the services or products that they offer. This results in continued marketing to that buyer free of charge for the company.

What to look for when hiring a digital marketing expert

Digital marketing experts in today’s industry must be highly skilled and have experience and flexibility in what is a rapidly growing and changing area of business.

A digital marketing expert must now be more knowledgeable and skilled than a traditional marketing guru as they require additional skills online as well as the face-to-face and outdoor skills that are representative of the traditional workspace.

There is now a greater challenge and greater urgency in constantly be innovating and updating your methods in order to stay relevant and competitive. When finding a digital marketing expert for your business, there are a few things that should be on the top of your list.

Paid social media advertising experience

If they don’t have the experience in what is the most prominent and important aspect of ecommerce then it is going to require a lot of learning. Social media is at the forefront of ecommerce due to its ability to reach virtually everyone in the world having started with a friend.

Having adequate social media skills is crucial to the success of your ecommerce campaigns and therefore a digital marketing expert must have experience in this area.

Sales skills

Marketers are essentially getting people to buy it just may not be a direct conversation. As a result, you need to know how to sell. These digital marketing experts are essentially selling your product via an advertisement or brand image and therefore they need to have strong sales skills so that they can think like a salesperson.

Specific marketing channel experience

There are so many different channels used in today’s industry that you need to have detailed experience with them in order to be able to manage them all at once.

Having a strong understanding of a number of ecommerce channels means that they can be used effectively and powerfully to reach your business goals. They are all extremely useful when utilised appropriately but can be a waste of time and money if they are only used to a portion of their full capacity.

Objective thinker

As a digital marketing expert, you need to be able to think outside the box. Hiring someone who is constantly agreeing with and thinking similarly to everyone else is going to lead to a repetitive and one dimensional operation.

Strong analytical skills

As much as creating and executing the campaign is important, if a digital marketing expert doesn’t have strong analytical skills then all the good work is going to go down the drain. Being able to improve what isn’t working and invest further in those elements that are is one of the easiest ways to get ahead of your competition.

Someone who is able to get to the crux of the data, understand it and implement improvements and adjustments will mean that ROI is high.

Basic design skills

Whilst the message and content are important in communicating, having some basic design skills will ensure that your efforts are interesting and engaging. An ecommerce optimisation expert needs to be able to create basic designs and videos to really grab the audience’s attention.

Good story-telling ability

Being able to tell a story is critical to drawing consumers in and getting them to understand the business and what they offer. People become involved in a good story and want to be a part of it so a digital marketing expert with a good story-telling ability will see your business benefit.

The ability to adapt and change

With such rapid developments happening all the time, a digital marketing expert must have the ability to adapt and change to current trends and developments in order to stay at the top of their game.


Why custom merchandising is essential for a successful business

When it comes to the creation and distribution of products for or by a business the logistical aspect of the process can be quite challenging. Of course, for most, they will hire a professional logistics business to create, store and transport the required goods.

One of the big considerations when it comes to this, with things like packaging and basic equipment or utensils is custom merchandising. Custom merchandising is when a business decides to include their company logo, colours and signature design on packaging and other every day pieces to promote the company.

Of course, there are additional costs associated with custom merchandising but no firm wants to appear as basic and simple when they have the opportunity to let the world know who they are. It is one of the most basic and inclusive marketing efforts that can be made with the distribution of the so called “propaganda” free of charge as the company transports goods and moves between locations or visits clients.

So outlined below are some of the key reasons that custom merchandising can help your business.

  • Marketing

Marketing is important for any business and when it comes to cost efficient methods, custom merchandising is certainly one of them. Because these goods are already going to be transported, handed out and included in various different settings the cost of labelling the goods is relatively minimal.

These goods are going to be regularly seen by members of the public as they walk through the city or enter your offices giving them a constant reminder of your product or service. All of this is beneficial, as long as it doesn’t become excessive, to your brand image as will be further explained below.

  • Inclusive

This point will tie in well with the professional aspect of custom merchandising, however it deserves its own point. The idea that by applying custom merchandising to all of your goods and inventory ensures that everything is inclusive of the next ensures consistency.

As everything now has your label or signature design on it, it all appears to relate to the same company and thus keeps everything in order. It doesn’t differentiate one thing from another but simply highlights what your company does across a range of areas.

  • Employee boost

Custom merchandising is great for employees as they feel a part of the company and valued. It creates a sense of patriotism within the company constantly utilising company products as they appear.

It makes every employee feel like a valuable member of the team and a real part of the business. Things such as t-shirts, pens, packaging, mugs and mousepads are all great reminders for employees of who they are working for and their ownership of these utensils makes them feel like an important part of the company.

  • Professional

This is probably one of the biggest reasons that custom merchandising is so great and leads to a successful business. If everything in the office, besides desks and chairs etc., is labelled with the company’s signature design and name, it creates a professional feel.

Linking back to the point about being inclusive, the consistency with which the brands image is seen is therefore created in a stronger sense and it is viewed as a large and successful business. A professional look is vital to success as it provides employees and clients with a sense of achievement.

Customer merchandising, as outlined above, has a multitude of benefits for your business ranging from in house to external benefits. All are important and the relatively small cost that is associated with custom merchandising will be worth it in the long run when it starts to pay dividends.