Your loan is due in 60 days and the bank said no

The real problem is the time you lose if you wait

When a loan matures in 60 days and the bank has already said no, the danger is not only the final due date. A maturity date is when the loan term ends and all outstanding principal and interest are due, so the clock is already running. Waiting turns a financing problem into a time problem. ([business.gov.au](https://business.gov.au/finance/financial-tools-and-templates/key-financial-terms))

Refinancing means using a new loan to pay off an existing one. Business.gov.au also notes that businesses use funding to manage cash flow when other money is not coming in, and that each option has costs and risks. That is why the first move is to look for alternatives now, not after the lender has closed the file. ([business.gov.au](https://business.gov.au/finance/financial-tools-and-templates/key-financial-terms))

Get the numbers ready before you speak to more lenders

Start with current financials. Business.gov.au says lenders want comprehensive finance information, including financial and bank statements and cash flow projections. Pull together your balance sheet, profit and loss, cash flow statement and recent bank statements. If the numbers are stale, update them now so a lender sees today’s position, not last quarter’s. ([business.gov.au](https://business.gov.au/finance/funding/choose-your-funding))

Treat the pack as a working tool, not a formality. A financial health check helps you understand your current position, spot unusual spending and track existing debt, while good records make funding easier to obtain. If your accounts are messy, fix the obvious gaps first. Clean numbers will not solve maturity pressure, but they make the conversation credible. ([business.gov.au](https://business.gov.au/guide/guide-to-managing-cash-flow))

Source: Official guidance

Put the bank request in writing

Ask the bank for an extension in writing, even if the answer is likely to be no. Keep it short: the amount owing, the maturity date, the extension you want and the date by which you need a response. A written request creates a clear record and stops the discussion drifting into vague assurances. ([business.gov.au](https://business.gov.au/guide/guide-to-managing-cash-flow))

If the bank will not roll the loan, you still need a paper trail for any later refinance or workout proposal. Business.gov.au says good records help with funding and decision making, and that you should keep track of due dates. The aim is a clean file that another lender can assess quickly if you need to move. ([business.gov.au](https://business.gov.au/guide/guide-to-managing-cash-flow))

Build a backup plan before the deadline starts biting

While you speak to lenders, build a backup plan that can turn into cash. Business.gov.au says funding choices all have costs and risks, and that businesses should compare what is available. If surplus vehicles, plant, stock or other assets may need to be sold, check what could be sold without stopping trading and what the timing would be. ([business.gov.au](https://business.gov.au/guide/guide-to-managing-cash-flow))

Do not wait for a forced sale to decide what is non-essential. Put each asset beside its role in revenue, its resale value and the cost of replacing it. Business.gov.au also advises businesses to manage stock and assets well to keep cash flow healthy. If keeping the asset is cheaper than selling it, say so. If not, make the sale plan now. ([business.gov.au](https://business.gov.au/guide/guide-to-managing-cash-flow))

Act this week, then keep the process moving

The practical sequence is simple. This week, speak to alternative lenders, refresh the financials, send the bank a written extension request and map the assets you could sell if needed. That matches the way business.gov.au says to compare funding options, prepare documents, review records and keep cash flow under control. ([business.gov.au](https://business.gov.au/guide/guide-to-managing-cash-flow))

If the file is already stretched, get help early rather than trying to improvise after the maturity date passes. CRP can coordinate independent qualified professionals to review the restructuring options and help you decide the next step. This is general information only, not legal or financial advice. Call CRP today about debt restructuring. ([business.gov.au](https://business.gov.au/guide/guide-to-managing-cash-flow))