Increase working capital or improve cash flow
Refinance happens when you move from one loan provider for the existing assets of your business to another loan provider. The most common transactions cover either property or machinery plant and equipment.
Why would most business people refinance? Usually, it would be for one or more of the following reasons:
To borrow more, which will increase the working capital in your
To extend the term of existing loan(s), which should improve your cash flow.
To find a lower interest rate, which will reduce the ultimate cost you
To start a new relationship with a finance provider who is willing to look at such transactions (for example, some will accept used machinery and others won't; some will offer the loan to value you need for a property, whereas others won't).
To exit a short-term loan – for example: taking out a commercial
mortgage to pay off an existing bridging finance loan.
If you would like to explore how refinance will help your business, please callus on 0161 266 7075.