Refinancing involves replacing an existing debt facility with a new debt facility.
The new funds are used to pay out your existing debt facility. Refinancing could involve using a new lender or changing what debt products make up your facility or increasing the maximum amount of the debt facility you or your business can access.
This may include refinancing of your plant and machinery, car, house, truck, crane, concrete pump, commercial business loan, debtor financing or overdraft just to name a few.
The key reasons why you may choose to refinance are:
- Gaining more flexible features in a debt product to meet your personal and business needs
- Consolidating debts to minimize and simplify repayments
- More debt is needed to finance an expansion of your business for growth, operational or strategic reasons
- Releasing security over personal assets and or specific assets as your business reaches levels of maturity, where by it can offer independent security of its own.
- Gaining a lower interest rate from a different lender or from a different mix of debt product
- Switching into a fixed or variable mortgage interest rate product
Commercial Point Finance have the experience to source quality cost effective ‘Refinance’ solutions from a number of lenders. Take the fuss out of refinancing your equipment or mortgage and leave it our team to assist in securing cost savings on your current loans. This will enable you and you business to capitalize on opportunities and focus on growing your business.
Contact Us for the best Refinancing deals today.