Business loan is the obvious choice if you need to purchase stock or inventory, manage your cash flow, or grow your business. There are two different types of business loans:
Secured loan is a loan in which the borrower pledges some asset (e.g. a car or property) as collateral for the loan, which then becomes a secured debt owed to the creditor who gives the loan. The debt is thus secured against the collateral, and if the borrower defaults, the creditor takes possession of the asset used as collateral and may sell it to regain some or all of the amount originally loaned to the borrower.
Unsecured loans eliminate this issue as they do not require collateral upfront. Instead, a lender will look at a small business’s cash flow, credit history, bank statements and financials, to decide whether they’ll approve an application. Lenders will also be hesitant to offer larger loan amounts and longer terms to businesses without collateral, making unsecured loans best suited to smaller investments and quick cash injections.
You may also need
If you already have investment property(ies):
Yes. If you want to pay off the loan early and you have the sufficient fund available with you, loan can be paid off early.
Yes. Refinancing option is available if you want to replace existing loan with other Loan to get the better interest rate or to cash out for a required purpose by using equity on the existing property.
Whenever you are in need of financial support, you can contact your mortgage broker to discuss the available options.
We have our head office located in Edmonson Park in Sydney. However, we help clients who need financial assistance anywhere in Australia.
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