Refinance Your Business Loan
If you’re looking to refinance a business loan to either release some of the business’ equity, to lock in a better interest rate or to access important business loan features, then you’ve come to the right place. NSW Mortgage Corp can help you refinance and get the business loan that best suits you your particular needs.
When you refinance a business loan, you’re essentially taking out a new loan and consolidating your business debts into one loan, usually with a better interest rate.
3 important things to note when refinancing a business debt:
- Establish your need to refinance – business refinance is great to improve cash flow and get access to more working capital. Establishing your refinancing needs will allow you to make an informed decision and select a refinancing option that will have the maximum benefits for your business.
- Know your refinancing potential – When refinancing a secured loan you will usually be able to finance up to 80% of the value of the collateral (usually real estate property). The refinanced business loan period varies, depending on the loan amount, the security and how much risk is involved.
- Understand your refinancing terms – Analyse the true costs of refinancing your business loans to determine that it is the best decision for you. Compare the loans interest rates and terms, including annual interest rate, fees and charges, how much you will save in the long-term.
A Business Refinance loan can help your business grow financially and increase its profits. You could use a business refinance loan to access locked up business equity and secure a lower interest rate, which could save your business thousands and allow you to take advantage of profitable business opportunities.