The borrowing criteria surrounding business and commercial finance has changed significantly over the past 6-12 months just as residential lending has changed.
What this does mean is that it’s really essential to use a mortgage broker who understands business financials and is working constantly with the banks and lenders on business and commercial loans.
Debtor finance, cash flow lending, and using security as property are all still options available for both small and large businesses, if you know where to look.
Be aware you may need to provide some additional information regarding the state of your financial situation, including profit and loss statements, cash flow, and income projections.
Not quite the same is borrowing for the self-employed. Depending on your situation, including how long you have been in business, you may be able to secure a full documentation (standard) loan, or a low documentation loan.
It’s important to minimise costs so make sure your broker works with your accountant, particularly where complex financials such as trusts are involved.
Residential and Commercial Finance Broker Port Melbourne, Grant Rheuben
Mobile: 0423 834 067
Mortgage Brokers in Port Melbourne and Surrounding Area
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