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Business lending involves funding the purchase of a business or the refinancing of existing business debt.
Lenders will only lend against the value of the business where
If a lender is prepared to lend against the value of a business, typically the lender may end up to the following ratios, i.e.
Goodwill – approximately 50%
Plant & Equipment – 25%
When the lending is secured by the assets of the business, the interest rate is higher and the loan term shorter. Business lending is similar in many ways to commercial lending, i.e.
When a business loan is fully secured by residential property, home loan interest rates and significantly reduced loan fees may be obtainable.
A word of warning – the cheapest rate may not always be the best option for you.
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Speak to one of our Finance experts, call 1300 805 221 or email bdm@betterchoice.net.au. We will work hard to get a loan tailored for you.