Are you paying too much on your business debt?

November 14, 2016
Shae Aiello

It could be easier than you think to save a lot of money.

When you ask a bank for a business loan, they tend to set up that loan at a business interest rate, which can easily be 3% to 5% higher than a home loan rate.

Sometimes, this is the only option, where the lender is charging an interest rate that reflects the level of risk they're taking.

However, if you have equity in residential property, we have access to lenders who will give you a home loan for the purpose of paying out your business loan.

This effectively means you could turn your business loan into a home loan, and take yourself from a business loan rate to a home loan rate.

If you have a $500,000 business loan, and we save you 3% on that, it's going to save you $15,000 a year of interest!

So if you want to discuss your options for getting a better deal on your business debt, contact us on 9309 4780 today.

 

Posted in: Business lending

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