Business Loans/ Business and Commercial Broker Norwood and Campbelltown
Business need funds for different reasons such as Market expansion,Investing in property, growth,assest purchase,research and development . In order to achieve the desired outcome business will need specialised loans commonly known as Business Loans.
What is a Business Loan?
In simple terms it is loan taken under business name which can be for any form of business entity such as sole trader, partnership, company or trusts .
Business Loan can be either a fixed or variable interest rate and frequency of repayments can be monthly, quarterly, or yearly. The regular repayment amount is typically worked out over a 1 to 30 year loan term. Business customers can use different types of security such as cash, residential property, commercial property, or business assets to secure business loan.
Business loan requirements and eligibility
There are several factors that can impact your business loan eligibility. Including your business history and experience, income, or capacity to repay a loan, business assets, security, collateral or capital and loan purpose.
1. History and experience
Your business trading history and experience help give lenders confidence in the sustainability of your business performance.
2. Income or capacity to repay a loan
When considering business loan eligibility, the lender is likely to expect evidence of how much money your business makes under recent and normal trading conditions. Be prepared to share your business and personal financial history.
When considering your capacity to repay a loan, conditions such as a repayment schedule, interest rates and loan terms are key considerations when calculating your loan.
3. Assets, security, collateral or capital
Providing collateral can help reassure lenders and having security assets may help lower the loan risk on the lenders' part. You could offer property, land, vehicles, or other assets as collateral to support your application.
4. Affordability and conditions
Why do you want to borrow money? Is it to pay vendors/suppliers, for staff training, to expand your business, or even to handle litigation costs? Lenders need to know the details, the amount you would like to borrow, when you’re planning to commence repayments and term of the loan.
WE ARE HERE TO HELP
If you want to get the best business lending solutions for your business please dont hesitate and call Bhav Jaswal on 0413048222
Smoother experience as they have all your information.
Better understanding of your financials to provide tailored advice. 
Faster response compared to being matched with a new broker.
