The hard thing for business owners today is that the chances of being turned down now are even higher as banks have begun reducing their business lending and tightening approval criteria in light of the “credit crunch”.
Most business owners have been frustrated at one point or another by a bank declining their business loan application. The hard thing for business owners today is that the chances of being turned down now are even higher as banks have begun reducing their business lending and tightening approval criteria in light of the “credit crunch”.
This is where a non-bank lender such as NSW Mortgage Corp can help with secured business loans. Non-bank lenders are less stringent on business owners as we understand the mechanics of business needs etc. Securing a business loan with property can help you get the best loan product available for your company.
An important factor to consider when obtaining a business loan is whether to secure your business loan with a residential or non-residential property. Securing your business loan with property means you will have a greater chance of obtaining the loan and your selection of lenders will be increased. This is because the collateral of your property reduces the amount of risk being taken on by the lender, therefore, more lenders are willing to fund your business. As securing a business loan with a residential or commercial property lowers the risk to lenders, it also means you can lock in a lower interest rate and reduce your funding costs.
When it comes to your business finance, it pays to make the right choice. Don’t rely only on the major banks. NSW Mortgage Corp can help you choose your next business loan from a large panel of lenders. Having multiple choices can help ensure that you find a business loan that fits your business.
Enquire about our Secured Business Loans today at NSW Mortgage Corp.
We will call you back quickly and discuss your options.
We will send through your offer for you to check and accept.
Receive your funds in as little as 48 hours.