If you’re an enterprising Australian, you might be considering starting your own business. It’s exciting to turn small beginnings into your primary source of income (or even a national corporation), but in order to get started, you’ll have to find the capital. Money doesn’t grow on trees, so what are your options when seeking business finance?
Commercial loans are what many people go for if they can’t secure internal finance – in fact, you might often find that the terms of a commercial loan are far better than other options. Business borrowing often affords you certain options to assist with your enterprise, such as overdraw facilities and even asset financing.
Furthermore, they have benefits over other loan types as well, particularly when it comes to collateral. For a standard home loan, for example, the property is used as collateral. This is also true for many business loans, but you can use equipment and other assets as well, giving you more options in improving your loan terms.
By utilising a commercial loan, you are securing the support of a lender that could give you what you need not only to start your business, but to keep it going too. Get in touch with a Fountain Finance mortgage broker and find out how we can help you get started in the wide world of business.