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Getting finance

At some point in your business life cycle, there’ll come a point at which you need to obtain finance to grow the business. You may choose to borrow money through a loan, raise equity capital from investors, or a combination of both. Whatever methods you choose, getting finance will expose you to legal obligations and risks you need to be aware of.

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Here are the packages commonly requested by other businesses:

Getting a loan

If you’re borrowing money, make sure you understand your exposures under the loan documents.

  1. Loan agreement: This is the most important document when borrowing money, setting out the amount borrowed, interest and the repayment schedule.
  2. Security: Lenders will often seek to take security so that, in the event you do not repay the debt, they can take possession of your assets.
  3. PPSR: The Personal Property Securities Register (PPSR) is a national online register that is like a noticeboard. Lenders typically register their security interests to show others that they have enforcement rights against your personal property.

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Raising equity capital

A popular one for startups – you can raise money by offering equity to investors and VCs.

  1. Term sheet: The important commercial terms and the investor’s rights are commonly negotiated through a term sheet.
  2. Subscription agreement: This is the document under which the investor formally agrees to provide the funds, and the company agrees to issue shares. It typically contains your warranties to the investors about the business.
  3. Shareholders agreement: Once the investor is on board as a shareholder, you’ll need an agreement to govern the new relationship in a shareholders agreement.

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