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Overview

Business loans are no longer the exclusive province of banks. Competition between banks, institutional lenders and mortgage originators has seen the evolution of lines of credit for businesses which can replace expensive bank overdrafts and term loans. These lines of credit are fully featured with cheque book access and attractive interest rates of approximately 7.22% where the security for the facility is residential property. Business lines of credit secured against commercial property attract rates approximately 0.5% higher.

Where no real estate security is available it is very difficult to borrow against the stock and goodwill of a business. There are exceptions such as newsagencies and franchises where up to 50% of the value of the business can be used to secure borrowings.

It is important to structure the borrowings of a business to cater for a mixture of debt reduction, working capital and growth all at attractive interest rates.

Our company would be pleased to provide you with a review of your current funding structure, costs and rates with a view to offering a cheaper and more workable alternative.

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