Business loans at home loan rates
When it comes to running a business, there are usually big expenses involved. From purchasing a commercial or retail space, to buying furniture and equipment, to a line of credit, you can’t be expected to be able to fund it all yourself.
That’s why there are commercial loan options available. Some business loans can be structured in a very similar way to a guarantor loan, except that you’re not using your parent’s property for equity, you’re using your own home.
There are some lenders who offer an option where you can loan yourself money for your business through leveraging the equity in the residential property that you own.
Instead of taking out a commercial loan, which will usually have a higher interest rate, you could explore using the equity in your home, which means you get the same home loan rate on your business loan.
Structuring this type of loan is very complicated, and as with all loans, different banks have different policies. To find out if you qualify, talk to our team of mortgage brokers.