REFINANCING LOANS FOR BUSINESS

Let's explore suitable financial options for your business to save money

We guide you through the loan process and make sure we provide you with competitive options to refinance your business loan.

Let us do the maths, get a FREE ASSESSMENT today!

Its your business looking to refinance its loan?

If your business is considering loan refinancing, We can support you in finding the right option for your business. We know current market conditions and lender options, which can help you find the right terms and interest rates for you.

Eakins and finance also provide the following:

A detailed understanding of the application process.
The types of loans available.
The risks and benefits of refinancing.

We can help negotiate the new loan’s terms and conditions, including interest rates, fees, and repayment terms, to ensure that you get the most competitive deal possible.

Benefits of loan refinancing

Refinancing a loan can offer several benefits to your businesses, including increased financial flexibility, lower interest rates, and improved cash flow. One of the primary benefits of refinancing is obtaining a lower interest rate.

With lower interest rates businesses can save money on interest payments over the life of the loan. It helps to free up cash for other activities, such as investing in new equipment or hiring additional staff.

Refinancing can also allow a business to consolidate multiple loans into one, simplifying the payment process and lowering the overall interest rate.

Refinancing a loan allows businesses to adjust the loan terms to better align with their current needs. This can improve your business’s financial stability and make it easier to manage expenses.

Factors to take in consideration

Repayment terms: When considering refinancing, businesses need to evaluate if their loan repayment terms are feasible and tailored to their specific requirements. Factors such as the duration of the loan, regular installments due and prepayment penalties should all be taken into account in order for a business to make an informed decision about this financial step.

Collateral requirements: Refinancing a loan may require businesses to pledge collateral in order to secure the new arrangement. It’s important for companies to understand what type of assets they must provide, and whether their resources meet these requirements.

Interest rates: One of the most important factors businesses consider when refinancing is the interest rate. A lower interest rate can reduce the loan’s overall cost, saving companies money over the life of the loan.

We support your business

Eakins and finance offer you the opportunity to leverage our extensive network of lender relationships to access a wide range of loan options and secure the best possible terms for your business.

We work with you every step of the way to help you navigate the complex loan refinancing process, providing guidance, support, and personalized service to ensure a successful outcome. With our support, businesses save time, money, and stress while achieving their goals and securing the financial resources they need to thrive.

Book a consultation with us now!

Don’t miss out on property market updates and attractive new loan rates!

Let us do the maths, get a free Assessment today!

Frequently asked questions

Why should I consider refinancing my business loan?

Refinancing a business loan can provide a number of benefits, such as reducing monthly payments, obtaining a lower interest rate, and extending the repayment period. This can help to improve cash flow, reduce financial stress, and free up capital for other business needs.

What types of loans can I refinance?

Businesses can take advantage of refinancing opportunities to improve their financial situation, with potential options that cover a wide range from term loans and lines of credit up to commercial mortgages. Each lender carries unique offerings, so be sure to explore the full scope before making a decision.

What are the potential risks and drawbacks of refinancing my business loan?

Refinancing a business loan can potentially open the door to increased savings, but as with any financial decision it's critical to thoroughly evaluate your options. This may include assessing both potential benefits and risks - ranging from lower fees or interest rates thanks to improved credit scores, through extended terms that could help make payments more manageable; however these must be weighed against possible costs related to refinancing and higher borrowing charges in some cases. The best approach is always plan carefully before moving forward so you get the most out of your investment!

What is the refinancing process like?

Securing a refinancing loan can be an involved process that requires taking the necessary steps to ensure eligibility. This includes submitting an application, supplying documentation and successfully navigating the lender's underwriting procedures, which may vary depending on both parties' specific circumstances.

RBA has increased interest rates get mortgage refinance advice HERE

( 07 ) 4211 3255

Cairns Mortgage broker