Get the commercial finance loan that works for you
Let Progressive Loans to help you find the right commercial finance loan so you can grow your business.
Let us assist you to secure great commercial finance so you can grow your business
Commercial finance is the function of offering loans to businesses. Most lenders offer commercial financing, and the loans are either secured by business assets or alternatively can be unsecured, where the lender relies on the cash flows of the business to repay the facility.
We have developed a strong relationship with financers in this market segment to ensure your cash flow needs are matched with the appropriate product.
Over the years, we have sourced commercial property finance for a wide range of clients.
We have successfully obtained finance for many clients under various scenarios. Purchase or Refinance, Owner Occupied or Investment, we have access to financiers from over 45 lenders.
Let's talk about your commercial finance needs
Terry Feduniw has had around 40 years’ experience in industry, with a strong understanding of a business’s financial needs.
Working as an accountant in this time, he knows budgets, business plans, financial reports and cash flows like the back of his hand. He can help you present these in an informative way, that supports your application in a positive way. He knows what lenders are looking for, and he can be that middle man that brings lifeblood into your business.
What can commercial finance be used for?
Choosing the right bank or lender to help you with commercial finance can make a big difference to the success of your company. Whether you’re a one-person company or a CEO looking to find space for a business that employs hundreds, a suitable commercial loan can give you an advantage.
When it comes to commercial loans – specifically designed to help finance commercial premises – the right finance options can help you with:
- Property investments: Whatever business you’re in, investing in commercial property can have its advantages. Commercial leases can be long term, and if there is a shortage in a particular city or suburb, the investment can be quite lucrative.
- Owner-occupied buildings: If you are looking for a new premises, or just want to take advantage of the right deal when it comes along, a commercial loan can be the right option.
- Refinancing: If you already have a commercial loan, giving it a health check every now and then can be a good move. You may have access to features that suit your business and its growth, or be able to capitalise on lower interest rates.
What are the pros and cons of commercial loans?
Whatever kind of finance you choose, there are always potential benefits and risks, and commercial loans are no different. Each business is different, and it’s important to find a finance package that is tailored to a business’ exact needs.
You need to find a lender that knows why your business is different, and why your industry needs banks and lenders to pay attention to it. Helping your business grow is what a bank or lender should be all about, and a suitable commercial loan can help you increase your capital.
Owning your own premises can give you a very lucrative asset that looks great on a balance sheet. It can also be a great thing to have when future loan applications are needed. A suitable commercial loan can also help you create equity, an asset if you want to own a business, invest in a residential property or own your own home.
As mentioned above, commercial buildings, whatever their use, can attract long-term leases. This can help with your financial stability if you are an investor. However, there are a few other things to take into consideration when searching for a suitable commercial loan. The first is that commercial property can be expensive, and maintenance can also stretch the budget.
While commercial properties can have long-term leases, they can also be vacant for long periods. Tax is another thing to consider when buying commercial property, with GST and Capital Gains Tax to be considered. Finally, understand the risk to your business as if a commercial loan is defaulted, it may be listed on the company’s credit report.
Get the commercial finance loand that is right for you
We are here to make your application as simple as possible. Book a meeting with us and let us do all the heavy lifting. Give us a call today!
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Let us help you find the right commercial finance loan so you can grow your business. Request an appointment!
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