Commercial Loans Refinancing
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Businesses are constantly enduring periods of growth and decline. It is normal for your business to fluctuate but ultimately growth is the end goal. Your commercial loan, on the other hand, growth in interest rates is not always ideal. This is where commercial loans refinancing comes in.
Your commercial loan needs to be reviewed regularly in order to ensure you are still getting the most out of your commercial property loan. Refinancing a commercial loan is a way of taking advantage of new competitive rates, offers and deals that may be available at the current time.
What is a Commercial Refinance?
The term refinancing refers to the process of taking out a new loan to pay off your existing one while improving the terms of the loan. Both commercial and personal home loans can be refinanced, but refinancing is particularly an attractive solution for commercial loans as commercial rates are highly negotiable.
Refinancing can provide more competitive interest rates and fees along with a range of other offers and benefits depending on the lender. Business owners generally use refinancing to consolidate debts into one loan, refinance to a loan with a lower interest rate or access the equity in your business loan.
Having access to the right lenders for you can help find a more suitable loan for you and your business. Speak to our commercial loans broker to find out if your business is eligible to refinance.
The Benefits of Commercial Loan Refinancing
Every business is at a different stage of its growth cycle, and every business owner has a different reason for wanting to refinance. By refinancing your commercial or investment loan, you may be able to cut down on your repayments and use that money to reinvest into your business. Here are a few of the benefits of commercial loan refinancing:
Minimise Loan Repayments
Take advantage of lower interest rates and find a more competitive offer
Increase business cash flow
Consolidate debts into one loan & one repayment
Access the equity in your business assets
Get a loan with more flexible loan features
Commercial Refinance Interest Rates
There are a number of options available when it comes to commercial loan interest rates. Both fixed and variable commercial loans are eligible for refinancing. However, it’s important to consider both options and decide which will work best for you.
Variable Rate Loans
Commercial variable rates allow you to take advantage of interest rate drops as you are not locked into a set rate. However, this goes both ways. If interest rates go up then your variable rate will reflect this also.
Fixed Rate Loans
Fixed-rate commercial loans are exactly that, they are fixed for a certain period of time. This allows you to lock in an interest rate without the worry of rates rising. Similar to that variable fixed rate loans do have their disadvantages. When interest rates drop you will still be locked in at that higher interest rate. Exiting a fixed loan agreement early can also incur exit fees and break costs.
Refinance Commercial Property
Did you know that you can also refinance your commercial property? Whether you’re needing an extra cash injection for maintenance and repairs, or seizing an opportunity to lower your monthly mortgage repayments, there may be a refinancing solution out there for you.
Understanding your long-term business goals is essential to making the right decision and refinancing your commercial property loan. Reach out to our experienced brokers to discuss your options and find a refinancing solution that will suit your business needs.
Looking For Commercial Refinancing Gold Coast?
At Crest Lending, we’re here to help your money work for you, not against you. Ultimately, we want to see your business grow and if you’re in a position to refinance, you may be able to help achieve that growth that you’ve been looking for.