Each business is unique and has different financial requirements and as the business grows, reviewing the business expenses such as business loans and their associated interest rates can provide cost saving opportunities.
A major lender is now offering new business customers an interest rate of 4.99% for a fully secured loan for a trading business customer. The product covers commercial facilities ranging from $100K to $1M.
As industry hubs and parks pop up, particularly around the Central Coast in areas such as Somersby, buying business premises are proving popular with savvy business owners.
Purchasing commercial property to suit the needs of your business gives owners the ability to upsize, improve and cash in on moving property valuations. Whereas rent for businesses is one of the key operating expenses and subject to annual increases.
Lower repayments helping to reduce business overheads
Buying commercial property to operate your business from means costs can be managed more closely. Business owners will know what the repayments are and should you choose to fix interest rates, you can forecast ongoing costs without variations. Ensuring you purchase property that is attractive to renters will mean you have rental income should you outgrow or relocate from the business premises.
Businesses who rent are now experiencing average annual rental increases of 5% which are slowly becoming the norm replacing standard CPI increases, particularly in the retail property market.
Low interest rate business loans
Business loans can easily be forgotten about as the day-to-day running of a business takes over. Reviewing your business loan interest rate and terms can free up valuable cash flow.
New business customers can take advantage of a low interest rate of 4.99% with a major lender for a fully secured loan for a trading business customer. The product covers commercial facilities ranging from $100K to $1M. Their current standard variable rates are;
- 4.99% pa for fully secured funding (up to 80% LVR on residential property, 65% on commercial property)
- 5.39% pa for partially secured funding (up to 100% LVR on residential property, 80% on commercial property)
- Fees, charges and other conditions do apply and there is a Loan Approval Fee of $750 to also consider.
- The offer expires on 31 May 2017.
How Mint Equity can assist with your business loan
To secure the most favourable outcome for your business it’s important that you engage a specialist mortgage broker like Mint Equity as business loans are more complex than a standard home loan.
Our services are free of charge as we’re remunerated by the lender you choose.
Mint Equity takes a detailed and solution based approach to preparing your loan application as business loans are classified as a high-risk profile from a lending capacity. We’ll look at all the options for you to start or take your business to the next level. Thinking outside the box has provided our clients with new opportunities to improve their lifestyle and business diversification.
Business lending is a more complex process than residential mortgages, so it’s essential you give your business the best opportunity at approval. Mint Equity has extensive experience in business finance and commercial lending and we understand the nuances of lender’s credit and policy.