As a business owner, you’re always looking for ways to grow and improve your business. One way to do this is to invest in commercial real estate or purchase a commercial property for your business. However, financing can sometimes be a challenge. That’s where commercial loans comes in.
Commercial loans are a type of financing that can be used to purchase or refinance commercial property, business growth, and equipment & assets. These loans are typically made by banks or other financial institutions and have different terms and conditions than other types of loans.
Some of the key considerations to think about when taking out a commercial loan includes the loan amount, interest rate, repayment schedule, and collateral requirements. It’s important that we compare offers from multiple lenders to find a great deal for you.
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Commercial loans broker
A commercial loans broker can help you secure a competitive deal on a commercial loan. Our broker will assess your business needs and match you with the right lender. We can also negotiate on your behalf so you can focus on your business.
There are a few things to consider when taking out a commercial loan, including:
Repayments
When it comes to repayment schedules, most commercial loans have a balloon payment structure. This means that the loan is paid off in full at the end of the term, typically five to seven years. However, you may be able to negotiate terms that include monthly or quarterly payments.
Commercial Interest Rates
The interest rate on commercial loans can vary depending on the type of loan, the lender, and the market conditions. However, you can expect to pay a higher interest rate than you would on a residential mortgage.
Commercial Loan Security
Commercial loans also typically require collateral, such as the property itself or another asset such as inventory or equipment. This helps reduce the risk for the lender in case you default on the loan.
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Commercial Loan Services
Commercial loans for property
Commercial loans for property are usually used to purchase business premises or land for business purposes. The loan is secured against the property, which means that if you default on the loan, the lender can repossess the property. This type of loan is usually only available to businesses that have a strong track record and are seen as low-risk by lenders.
Equipment Business loans
Business loans are another option for financing your commercial venture. These loans are generally for equipment and other business assets that are necessary for your business to run. By asset financing your equipment needed for day to day operations you can free up cashflow in the business and ultimately grow your business.
Commercial loans refinancing
Refinancing your commercial loan can help you save money on interest payments and reduce your monthly repayments. It can also give you access to additional funds that you can use to grow your business. When refinancing, you will need to provide the lender with financial information about your business.
Commercial property investment
If you’re looking to invest in commercial property, there are a few things you need to consider before taking out a loan. Commercial investment properties are usually larger and more expensive than residential properties, so you’ll need to make sure that you can afford the loan repayments. Using equity in an existing property is a great way to get into the commercial investment property market.
When buying a property for investment purposes you’ll also need to factor in the costs of maintaining and repairing the property.
Commercial finance broker
Our commercial finance brokers can help you find a competitive loan that suits your business. We will assess your business needs and match you with the right lender that will provide benefits and loan features that allows you to maximise your loans potential.
There are many different types of commercial loans available, so it’s important to speak to our team in order to find one that will work for you. We have access to a wide range of products and services that can benefit businesses of all sizes.
Getting a commercial loan with help from Davies Home Loans is a great way to finance your next business venture. Contact us today to learn more about their products and services.
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Financial Calculators
When looking to get into the property market or refinancing your home the first step is to determine how much you can borrow. Our Financial Calculators allow you to get an estimate of your borrowing power, compare loans, and calculate your potential repayments.
Borrowing Power Calculator
Determine how much you could borrow based on your income, expenses and other debt.
Loan Comparison Calculator
Enter both your current loan and the new loan amounts, interest rates & fees to compare which loan will suit you.
Loan Repayment Calculator
Calculate your monthly, fortnightly or weekly payments required to pay your loan.