Seek help to find the right package
With so many finance providers offering different finance types, with varying structures and repayment options, it can be difficult to find the one that’s best for your business. It pays to seek independent advice before you make your choice, and this is where your Mortgage Choice broker can help.
Finding the right loan
A business overdraft gives you access to cash to cover short term requirements, such as bridging the gap between service delivery and payment. An overdraft is usually unsecured, but is likely to offer a cheaper interest rate than a credit card.
If you need to make a larger purchase, you might consider a business equity line, which is suited to businesses that might need a cash injection on a very occasional basis. This form of business finance is likely to require security.
If you know how much you need to borrow, you might consider a business fixed rate loan, which gives you the certainty of fixed month payments. But if your cash flow is volatile you might opt for a business variable loan, as you may be able to reduce repayments if needed.
What you'll need
To be eligible for business finance, you’ll need to demonstrate a history of financial performance, including evidence of solid cash flow and the ability to manage expenses and liabilities.
The sheer variety of loans can be overwhelming, but your Mortgage Choice expert can help you navigate through the various options to find the one that’s right for you.