Plastering is where a house starts to look like a home, and it’s one of the busiest stages on a builder’s programme. Once the frame is inspected and lock-up is done, the builder wants you in, fixing and setting fast. That means sheet delivered, crews ready and wages paid every week. The claim, though, often isn’t paid until weeks later. Fast plastering business loans keep your crew fixing while you wait.
Why plasterers run into cash flow gaps
Materials are heavy and expensive. A single house can take a truckload of sheet, cornice, compound, beads and screws. Many smaller plasterers buy on account or on delivery, and supplier terms are tight.
Fixers and setters want paying weekly. Good plasterers are hard to find and quick to move if pay is late. Your wage bill doesn’t wait for the builder.
Stages and variations. Fix and set are often claimed separately, and variations for extra bulkheads or square set can sit in dispute for weeks.
Christmas and slow patches. Builders go quiet over the shutdown, but your January wage bill still arrives. Our guide to Christmas shutdown cash flow has tips for getting through it.
What plasterers use business loans for
- Plasterboard, cornice, compound, beads and fixings in bulk
- A truck with a crane or a trailer for sheet delivery
- Stilts, sanders, lasers and dust extraction gear
- Wages for fixers, setters and sanders
- Paying an ATO debt or overdue supplier account
- Taking on a townhouse job or a small commercial fitout
For bulk material purchases, see building materials finance.
Borrowing against property you own
If you own a home, investment property or land with equity, a fast second mortgage is the most popular secured option. It keeps your existing home loan in place and doesn’t need tax returns. A first mortgage suits property owned outright. A business bridging loan helps if you’re waiting on a property sale. In Victoria, caveat loans are available as well.
Bad credit is considered, and our page on bad credit loans for tradies explains what lenders look at. Terms typically run 1 to 12 months.
Unsecured loans for plastering businesses
If you don’t own property, an unsecured cash flow loan may suit. You’ll need an ABN, 6+ months of trading and recent business bank statements showing regular income. The loan is sized to turnover.
Can a plasterer use a loan to clear an ATO debt?
Yes. Plastering businesses with growing crews often find PAYG withholding and BAS building faster than they’d like. A fast loan can pay the ATO in full so you’re not dealing with mounting penalties. Speak to your accountant about the tax side.
Buying a truck or plastering gear
A truck with a crane lets you move sheet yourself instead of waiting on supplier delivery windows. Owning your own sanders and extraction means better finishes and faster turnarounds. A fast business loan can fund both.
Stepping up to bigger jobs
Plastering a set of townhouses or a small office means multiple crews, bigger material orders and a longer wait for the first claim. If you’re a subbie chasing builders, our subcontractor finance page covers the options.
Example: a plasterer taking on a townhouse job
Hypothetical example. A plasterer in Western Sydney wins a job to fix and set eight townhouses. He needs about $70,000 of sheet and compound delivered over six weeks and three extra fixers. The builder pays 30 days after each claim is approved, and he’s already owed $40,000 on another job. He owns his home. A fast second mortgage of $110,000 over five months covers materials and wages until the claims start flowing.
What to have ready
- Photo ID and ABN
- The property you’ll use as security and what’s owing on it
- Business bank statements for an unsecured loan
- Job details and your repayment plan
Key facts: loans for plasterers
- Loan size: $20,000 to $5 million
- Security: property you or a guarantor own, or unsecured with 6+ months of trading
- Speed: as little as 24 hours for some property loans; some unsecured within hours
- Term: property secured loans typically 1 to 12 months
- Suits: fixers, setters, solid plasterers, ceiling fixers and plastering contractors
- Pricing: priced on your circumstances with the sharpest rate available for your situation
These loans are for business purposes. Check your options in about 60 seconds. There’s no cost and it won’t affect your credit score.
