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Mind your own business
For many businesses, the initial financing arrangements put in place at start-up are still in place many years later.
A business’ finances should be reviewed on a regular basis to be sure the current needs of the business are suited. Refinancing could be the right choice for your business if:
- you’re planning to renovate or update your fit-out;
- business circumstances have changed and the current loan no longer suits;
- you’re looking to reduce loan repayments;
- if you want to access the equity in your business;
- if your fixed term loan is coming to an end;
- or you want to consolidate your debts to make managing your business loans easier.
What does refinancing involve?
By the book
Refinancing is basically the replacement of current financial and debt management systems and products, with new ones.
Refinancing could involve switching to a new lender or changing the financial loans and accounts of your business with your current financial institution.
A refinance loan to suit you
The fine print
Don't get caught by surprise
Avoid any surprises and contact your current financial institution to find out what fees are payable if you refinance your existing loan.
Before you decide to refinance your business loan, it’s important to be aware of extra charges you may need to pay including:
- application fees
- settlement fees
- valuation fees
- stamp duty
- Government mortgage registration fees
- exit fees and
- early repayment fees.
Choose People’s Choice
Let's get down to business
If you’re ready to make the
switch, talk with one of our
Business Advisors today
about your options. Enquire
online or call 13 11 82.
Enquire online
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Thank you for your enquiry. Unfortunately we don’t have a Business Banker based in this area, so please call us on 13 11 82 to see how we can still help you.
Terms, conditions, fees, charges and lending criteria apply and are available on application.
The information above is general advice only and does not take into consideration your personal objectives, financial situation or needs (“your personal circumstances”). Please consider the relevant Disclosure Documents and your personal circumstances before making any decision to purchase the products. Contact us on 13 11 82 with any questions, or visit your nearest branch to talk to a consultant.