How Can A Mortgage Broker Help Me Run My Business?
Business owners and home buyers have very different financial requirements, but many mortgage brokers are just as expert with commercial solutions as with residential ones.
If you own a business, it pays to be aware that there are a variety of borrowing products designed to help you clear every hurdle.
To cover short-term financial needs, a business overdraft can provide much needed relief. This is a line of credit facility useful for negotiating unexpected expenses and seasonal fluctuations.
The overdraft comes with a variable interest rate and a cheque account which gives you access to an agreed upon amount.
If, on the other hand, you find you have a lot of funds tied up in unpaid invoices, cash flow finance can allow you to access up to 80 per cent of this money - a great assistance during periods of growth or changing sales cycles.
When you need to buy goods but paying the full cost upfront is not feasible, a hire purchase arrangement can be used to pay for the goods over a period of years.
Repayments can then be tailored to your circumstances, so if you experience irregular cash flow you can structure a schedule around this which will help you gain ownership with minimum financial burden.
A mortgage broker can help find a financial product that responds to each of your specific business needs.
To get more detailed information on your situation, talk to a Loan Market mortgage broker today.