Refinance
If you’ve become stuck in a rut with multiple business loans, are carrying loans with a short term and pending balloon payment, or have improved your credit score since you received your initial financing, now is an excellent time to refinance for a lower interest rate, lower monthly payment, or both!
Lower Your Rate
With historic low rates and a broad network of lenders, we are able to help you find the best rate for your refinance.
Reduce Your Payment
By changing loan type or loan term you can reduce your monthly payment, reducing payment pressure and opening up funds to support revenue generating activities.
Consolidate Multiple Loans
When you have too many financing instruments in play you tie up your time with accounting, payment deadlines and cash flow bottle necks. Simplify with one simple payment.
Resolve Credit Bottlenecks
Many businesses receive a range of loans: equipment, vehicles, a line of credit, a commercial real estate loan, working capital. Financing makes a lot of sense during times of high cash flow, but when things tighten up you can get behind on payments, get hit with fees or get caught by changes in the interest rate on variable loans. In this case, a refinance to consolidate or shift short term, high interest rate or high balances to long term or lower interest asset based loans.
years of combined industry experience.
years of combined industry experience.
Receive a lower interest rate
Alternately, some businesses start out with high interest loans because they lack the cash flow or credit history to prove their cause. After a few years and positive cash flow, you’d be surprised how much can change. Sound business records and founder or owner credit improvement can give you a better interest rate, resulting in the same payment with a shorter term, or a lower monthly rate for the same term. Either way you can move beyond your previous credit scenario with a refinance that sets you up to take new steps and to move forward with your business objectives.
Benefits of Refinancing
Some people ask why anyone would want to refinance, given the time, effort and closing costs involved. The successful end of a refinance is reduced monthly payment, reduced total cost of money, simplified repayment structures, or a combination of all three. The pathways to these outcomes are pretty straight forward: change the type of financial instrument, change the length of the loan, or work with a lender that offers better terms.
Revenue park provides a comprehensive consulting process to help you through the application, evaluation and selection phases of determining whether a refinance is right for you.
