I have a small business that has been going for a year and I need to access some capital to take advantage of two new contracts. No luck with the banks so I am wondering if it is possible to use some of my superannuation to invest into the business. We only need about $50,000, are there any limitations and do I need to set up a SMSF to do it?
If you have confirmed orders there are lenders out there who will assist with the funding.
I'm not a Financial Planner, but would doubt you could use your super for this purpose.
Possibly one of the FPs on this chat could advise on this?
Would be happy to have a chat about your situation and see if a finance broker can assist, depending on your set-up and numbers. From experience, the banks can say no if there isn't enough information to assist them to see the potential in the business.