For over 10 years the team at Integrity Finance Australia has helped homebuyers finance their dream homes in Melbourne. However, our skilled brokers can do more than just home loans – we’re experienced in securing commercial finance for equipment or property and business loans for capital.
There are several types of commercial finance that may help grow your business or keep it running efficiently day-to-day. Here’s an outline of the types of commercial finance Integrity Finance Australia can secure for you.
An overdraft is linked to your business account. It gives you access to funds, up to an approved limit. Overdrafts can be either secured or unsecured. There are generally no regular repayments and the interest is charged on the amount drawn. This may be helpful for covering short term expenses.
Line of credit
A line of credit provides on-call access to funds that can be used to increase your working capital. These are generally secured facilities, and have a higher borrowing limit than an overdraft. There are no fixed repayments and you’re charged interest on the amount drawn.
A commercial loan is a medium to long term option. Financing is provided for a fixed period of time. Repayments are generally fixed and made at regular intervals over the term of the loan. The interest rate can be either fixed or variable and is based on market rates. The loan is generally used to purchase equipment, commercial property or make improvements to your business.
Cash flow finance
Whether it’s called cash flow, debtor or invoice financing, this facility enables you to obtain financing for a proportion of your outstanding invoices. The financier purchases your invoices at a proportion of their face value, so you don’t have to wait for slow debtors. It can be an effective way to manage short term fluctuations in your cash flow.
Business equipment finance
Asset or equipment finance is a way to purchase equipment and vehicles. The assets are being purchased are used as security. Repayments are fixed over the term of the loan. A balloon or residual payment is common at the end of the loan. This financing can be in the form of hire purchase (where the financier owns the asset) a novated lease (for vehicles) or chattel mortgage (where you maintain ownership of the asset).
Integrity Financial Australia brokers have access to over 40 lenders. So whether it’s expanding your premises, adding catering equipment, leasing vehicles, or investing in an IT solution, our experience and expertise can help.
Talk to us about business and commercial loans – contact us on 03 9511 8883 or firstname.lastname@example.org