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Commercial loan comparison

May 28, 2018 / NEWS

Commercial loan comparison

Does your business need a cash injection? You’re not alone. Many businesses find that at certain points in their development, a loan could make a positive difference to their future evolution and growth. Whether you need to buy a fresh vehicle, are looking to invest in business premises, or simply need cash to invest in additional materials or pay workers while you wait for your clients to process invoices, a commercial loan could be exactly what you’re looking for. With a wide range of different loans on offer, finding the one that’s going to be right for your specific requirements can be a challenge. Although you may have specific requirements when it comes to your borrowing, in general, it is wise to consider the following when making your lending decisions: the interest rate of the loan; duration of the loan; repayment schedule; how the loan can be spent; the total cost of the loan repayment.

Traditional commercial property loans can require significant paperwork

When it comes to leasing or purchasing a commercial property, the situation is often more complex than that for residential properties. In many cases, there may be a higher element of risk involved. If a business fails having taken on a property, the consequences can be significant. For that reason, commercial loans for property often require a large amount of paperwork and supporting documentation before they can move forward. In many cases, using a private lender can help to keep administration to a minimum, enabling you to find loans that give you the repayment rates and time period you need without burdening you with excessive form-filling.

Private lenders for commercial loan comparison

Private lenders offer a wealth of different products which are suitable for a variety of business circumstances. Private lenders are often more flexible in their approach than traditional banking establishments. They often take individual business circumstances into consideration, offering customised solutions that can work really well. Even if you’re not sure that you would be accepted for a loan, or have been turned down by your bank, it’s still always worth getting in touch with a private lender to see what type of options are available.

Commercial loan comparison is essential – not all lenders and products are the same

There are many different types of commercial loan out there: chattel mortgages, leasing finance, business term loans, lines of credits, factory finance, landbank finance and many more options. Each carries a range of risks and opportunities. A good private lender will work diligently with you to find a loan product that will give you what you need for success. Obviously, every loan carries an element of risk, so it’s important to have clear contingency plans in place should you experience temporary cash flow problems or any of the other financial issues which commonly affect businesses. By borrowing conservatively and looking for products which match your financial profile and repayment capabilities, it’s usually possible to find a loan that ticks your boxes without exposing your enterprise to an unacceptable level of risk.

Fast consideration of your commercial loans

In many cases, business borrowers have spotted a promising business opportunity and need access to the right finance fast. Luckily, by using a private lender, it’s often possible to get the funds you need without having audited accounts or a business plan; with so many lenders out there, you can usually find a speedy solution that’s sustainable. No matter what size your business might be, what sector you work in or the stage your business is at just now, responsible, competitively priced borrowing could make a positive difference to your growth and sustainability.

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