A handyman or property maintenance business runs on lots of small jobs. A leaking tap in the morning, a fence panel and a door lock before lunch, a make safe for an insurer in the afternoon and a strata gutter clean on Saturday. The work is steady, but every job is small, and the people who send you the most work are often the slowest to pay.
When you want to grow, or just need a bit of breathing room, fast finance can help.
Why handymen and maintenance businesses need finance
The money pressures are different from trades doing big builds:
- Small ticket, high volume. Dozens of small invoices a month add up to a lot of money owed, especially when agencies and strata managers pay on 30 day terms or longer.
- Your vehicle is your business. If the ute or van dies, you stop earning. A reliable vehicle with a canopy, racking and tools is essential.
- Tools and gear. Cordless tool kits, ladders, a trailer, a pressure washer, a small tipper. It all adds up.
- Materials on your card. Most small jobs mean a trip to the hardware store on your own account.
- Growing beyond one person. Hiring a second worker means another vehicle, more tools and wages before the extra invoices come in.
What handymen use fast finance for
A new ute or van
Upgrading the work vehicle is the most common reason. A fast business loan buys it outright, fitout and all. See equipment finance for tradies.
Taking on a second worker
Adding a second van and a worker can nearly double what you can take on. Finance covers the vehicle, the tools and the first few weeks of wages.
Covering slow payers
If agencies, strata managers and insurers owe you a lot, a cash flow loan for tradies smooths it out.
Paying the ATO
Sole traders and small maintenance businesses often fall behind on BAS or income tax. A lump sum loan clears it and stops the stress.
A bigger job
A strata maintenance contract, a make safe programme for an insurer or a run of rental property turnovers for an agency can be a step up. Finance helps you gear up.
Secured vs unsecured loans for handymen
Secured loans suit handymen who own property with equity: their home, an investment property or land. A fast second mortgage, fast first mortgage or bridging loan can fund in as little as 24 hours in some cases. Financials aren’t needed, bad credit is considered, and terms typically run 1 to 12 months. In Victoria, a caveat loan is also available. If your credit has had some hiccups, see bad credit loans for tradies.
Unsecured loans suit handyman and maintenance businesses with an ABN, six months or more of trading and recent business bank statements. The amount is sized to turnover and some are funded within hours.
Loans are for business purposes. Every loan is priced on your circumstances, and we find the sharpest rate available for your situation.
Example: going from one van to two
Example only. A handyman in Perth has more work from property managers than he can handle alone. He wants to put on a second worker, which means a second van with racking, a full tool kit and about a month of wages before the extra invoices are paid. The total is around $70,000.
He owns his home with some equity. A fast second mortgage covers the van, the tools and the wages. With two vans on the road, the extra agency invoices repay the loan within the term.
How fast can a handyman get a loan?
Our form takes about 60 seconds and won’t affect your credit score. A lending specialist calls you back to talk it through. Some unsecured loans are funded within hours. Secured loans can fund in as little as 24 hours in some cases, typically within a few days once valuation and documents are in.
What to have ready
- ABN and business details
- Recent business bank statements (unsecured)
- Property details and what’s owing (secured)
- Vehicle or tool quotes
- A rough list of your regular clients and what they owe you
Key facts
- Loan size: $20,000 to $5 million
- Security: property you or a guarantor own, or unsecured for businesses trading six months or more
- Speed: hours for some unsecured loans; as little as 24 hours for some secured loans
- Term: secured loans typically 1 to 12 months
- Suits: handymen, property maintenance, strata and make safe businesses
Grow your handyman business
A new ute, a second worker or a clean slate with the ATO is closer than you think. Check your options in about a minute and we’ll tell you quickly if we can help.
