Commercial & Small Business Loans

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Commercial & Small Business Loans

Drive the growth of your business with a commercial & small business loan

Are you looking for finance to manage your cash flow or help fund business expansion?

Perhaps you are considering completing a fit-out, acquiring a commercial property, leasing fleet vehicles or purchasing stock or other inventory items?

Getting the right business loan at the right interest rate and at the right time can really make or break your business, which is why it really makes sense to get expert help from an experienced commercial loan mortgage broker who understands the financing options that are available to your business and who can match them to your business objectives.

At Mates Rate Mortgages our commercial loan process process is simple, fast, secure and hassle free. We do all the work for you, comparing types of business loans from dozens of lenders to get you the very best loan for your business.

What’s the best commercial loan for your business?

As well as understanding the right type of commercial loan that’s best for your business, you’ll also need to consider whether you pay a fixed or variable interest rate, the frequency of repayments, the length of your loan, and whether your loan is secured or unsecured.

These are some of the different types of commercial and business loans that might be suitable for your business needs.

Business loan

A business loan is a lump sum of money with a defined loan term that gives you the flexibility of choosing the loan term, interest rate type (fixed or variable) and security (secured or unsecured).

A business loan can be a good option for when you need a set amount in one lump sum, such as for business acquisitions, start-up costs, capital investment or a commercial property acquisition.

Commercial property can also be purchased as part of your personal SMSF, however it must be leased at the market rate.

Secured versus unsecured business loans

Secured business loans allow you to borrow against your assets, offering lower interest rates and higher borrowing amounts than unsecured loans.

Unsecured loans give you faster access to cash, however they usually have higher interest rates and the loan amounts are smaller than secured loans.

Finance lease or hire purchase

If you are looking to invest in assets, such as vehicles, machinery or equipment, you might also consider a finance lease or commercial hire purchase, both of which may have possible business tax advantages.

With both a financial lease and hire purchase, your lender purchases the asset on your behalf. A finance lease allows you to rent it from your lender over a fixed period of time and once the lease period ends, you return the asset and pay the residual.

Commercial hire purchase allows you to purchase the asset from your lender over an agreed period of time. When all the repayments are made, your business owns the asset.

Chattel mortgage (goods loan/car loan/equipment loan)

A chattel mortgage has a similar structure to a fixed-rate traditional home loan and is an alternative way to invest in assets for your business. Unlike hire purchase or finance leases, the lender does not buy the asset for you, they instead lend you the money to purchase the asset.

You have ownership of the asset right away, so you can use the income the asset generates in your business to pay off chattel mortgage loan.

Commercial and business loans for cash flow

Business overdraft

Also known as a line of credit, a business overdraft is usually linked to your business transaction account and is designed to relieve strain on your cash flow. You only access your overdraft when you don’t have enough money in your business account, reducing your overdraft by depositing back into your account when your cash flow improves.

Although the interest rate is higher than business loans, interest is only charged on the money you use, rather the total amount available in your line of credit, as long as your overdraft remains under the approved limit.

Invoice finance

Another way to support your cash flow is by using invoice finance, also known as accounts receivable finance. Just like a business overdraft, invoice finance is a quick way to access cash to drive your business growth.

The difference between these loans is that invoice finance uses your outstanding business invoices for collateral, allowing you to sell any invoices that aren’t due to the bank for cash and potentially accessing up to 85% of the value of these invoices.

How can Mates Rates Mortgage Brokers help you get a commercial loan?

Whether you need help with your cash flow, are looking to invest and expand, getting the right business loan for your business comes down to understanding your options and matching them to your objectives.

Our experienced mortgage brokers work with businesses of all sizes and across all market verticals and understand what’s required to prepare for success when you apply for a business loan, including the documents required, how the application process works with different lenders and how to find the best loan to suit the financial situation of your business.

A Mates Rates Mortgage Brokers commercial and business loan does not cost any more than going to a lender directly. It’s the same loan, from the same lender, at the same interest rate, with all the same package features – the only difference is, we take away the time, hassle and stress involved in comparing different commercial loan types from a wide variety of banks and other lenders.

Ready to find the best commercial loan for your business needs?

Give us a call on 1300 558 161, email our team at info@matesratesmortgages.com.au or enquire online.

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Frequently Asked Questions

Secured business loans use\ one of your assets to be provided as security to cover your business loan amount if you’re unable to pay it back, such as residential property, commercial property, inventory, accounts receivables or other assets.

Secured loans usually offer lower interest rates and higher borrowing amounts than an unsecured loan, however they can take longer to approve as your assets need to be valued first.

An unsecured loan uses the strength of your cash flow as security instead of physical assets. This type of loan is assessed faster than a secured loan, however it is usually for smaller amounts and is repaid at a higher interest rate.

If you don’t have the physical business assets to use as security for a business loan, your lender may ask for a guarantor or a directors guarantee. This will allow your lender to recover outstanding debts from your guarantor if you can’t make your repayments.

A first party guarantee is when you guarantee the loan with an asset that you own, usually your residential property.

A third party guarantee occurs when someone else guarantees your business loan by providing security with their assets. If you can’t make your repayments, your guarantor will be asked to pay them for you either by selling their asset or offering further security.

Depending on your lender, you will usually need:

  • A minimum of 2 years’ worth of business financial statements and tax returns
  • A minimum of 2 years’ worth of individual financial statements and tax returns
  • Proof of individual income
  • Personal statement of financial position

Your property immediately becomes an asset of your business, therefore you can use the cash flow from your business to repay the loan.

As equity builds in the commercial property, you can use this equity to secure loans for other business purposes.

You will benefit from both the capital appreciation of the property and the income stream you receive from your business leasing the property from you.

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