Business Loans: How Mortgage Brokers Can Assist You
Running a business is extremely difficult, especially in the current COVID-19 climate.
That’s why mortgage brokers can provide the necessary help for your business’s needs, whether this be acquiring more working capital, buying a new franchise, investing in commercial property, or asset financing. Here are the different ways that our mortgage brokers can assist you with finding the right business loan!
Business Working Capital
Working capital is used to cover day-to-day business expenses, such as wages, rent and utilities. In other words, it refers to the money available to meet your current, short-term obligations and represents the liquidity of your business. Brokers can determine the right working capital for your business through financial solutions tailored to your needs, such as cash flow finance or business overdrafts.
Equipment & Asset Finance
Asset finance is a common type of finance used by many businesses to purchase assets or equipment that they need for growing operations. It usually involves a regular payment for use of an asset over a specified period of time, meaning that there is no requirement for a large and costly upfront payment. This includes hire purchase and leasing for passenger or commercial vehicles, construction equipment, industrial plant and machinery, printing press technology and much more. Contact our brokers for more info!
Buying & Investing in Commercial Property
If your business location is very important, then choosing to buy your premises is another option compared to traditional property leasing. Owning the premises means that you get to have complete control over your location, yet it can be a rather expensive, ongoing investment. That’s why mortgage brokers can help you undertake this intimidating venture, ensuring that you get the best tailored loans to suit your financial circumstances and business goals.
Commercial Property Development
As with purchasing and investing in commercial property, you can also use business loans to finance any property development – this covers everything from buying a block of land or building an office structure. Funding is a source of many failed developments, so it’s crucial that you talk with your commercial broker or lender to get access to proper finance.
Need help with business loans? Contact our mortgage brokers today!