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Commercial Loans

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    Commercial Loans and Asset Finance

    When it comes to important decisions, you want the best advice and support.
    Our extensive experience and personal touch ensures you get the best of both when it matters the most.

    Big decisions need dedicated personal advice. Speak to the Expert Mortgages Team about how we handle commercial loans differently.

    Business Loan

    If you are considering buying a new business or need capital to invest in your current business, chances are you need a business loan.

    As a business owner, you have many challenges to grow your business, from start-up costs to extra capital equipment that will help expand your operations.

    Documents required for a business loan

    Financials for business

    Financials for the business prepared by a chartered accountant. This is a reflection of the history of the business.

    Sales and Purchase Agreement

    A sale and purchase agreement is a legally binding contract between you and the buyer.

    Copy of Lease Agreement

    Copy of the Lease agreement if the business is going to operate out of a commercial premise.

    Amount that can be borrowed under a business loan

    Usually banks lend a maximum of 50% of the business or the purchase price of the business excluding GST. In case where larger lending is required, the banks can consider using other assets such as your home or investment property as security. In such a case, banks generally lend maximum of 80% of the value of the assets used as a security.

    Amount that can be burrowed under a business loan

    Usually banks lend a maximum of 50% of the business or the purchase price of the business excluding GST. In case where larger lending is required, the banks can consider using other assets such as your home or investment property as security. In such a case, banks generally lend maximum of 80% of the value of the assets used as a security.

    Interest rate and loan term

    Businesses tend to carry higher risk. Hence banks usually charge a higher interest rate in comparison to a standard home loan rate. The loan term can vary and there are different factors associated but most businesses have loan repayment term of up to 10 years.

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    Asset Finance

    If your business requires a new vehicle or a new equipment, asset finance could be a solution. Asset Finance can help you buy new or used assets without rinsing your cash flow.

    It helps you take advantage of the growth opportunities that could be vital your business’s success. You can apply for up to 100% funding for new or used assets and customise your loan payments to suit your business.

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    GET IN TOUCH WITH THE MORTGAGE AND INSURANCE EXPERTS