Money is an essential part in the running of a business, whether it is to purchase new equipment, renovating or expanding a business, in most cases additional funds are needed. Many entrepreneurs and business people require business loans to help them realise their goals. Golden Harvest Finance has the expertise and knowledge when it comes to providing business lending services.
The most common types of business loan choices available include:
- Fully drawn advances – gives the borrower the ability to draw the entire amount required for the business
- Overdraft facility – gives the ability of already own and operated business owners an overdraft arrangement to allow more spending than what is currently available in the account
- Line of credit – a type of loan that is secured against some type of collateral, generally a personal or business asset.
Business loan interest rates have similar options to residential home loans, which include:
- Variable rate
- Fixed rate
The interest rates vary from period to period, usually depending on the Reserve Bank of Australia’s overnight lending rate plus a certain minimum rate.
Speak with us to see how we can help you with your business loan.