Commercial Loans

Commercial loans can serve a multitude of purposes to aid businesses, such as bolstering cash flow, reducing expenses through bulk supplier purchases, funding expansion plans, acquiring inventory and equipment, executing office renovations, or covering unexpected costs like maintenance or increasing insurance and utility bills. Here are the small business loan options available:

Term Loans: This type of loan involves borrowing a set amount of money which is then repaid over a specific time frame through regular installments. Term loans can range from short durations of three months to extended terms up to ten years, with repayment schedules that could be monthly, weekly, or even daily. Borrowers have the choice of fixed or variable interest rates, and some lenders may offer initial periods where only interest is paid.

Overdraft Facility: This feature allows a business’s bank account to temporarily go into a negative balance with the bank’s prior consent. Fees are charged each time the account enters into overdraft, and interest is applied to the overdrawn balance.

Line of Credit: This is a distinct account that provides businesses with a set credit limit which they can tap into as needed. Businesses must pay interest on the amount utilized each month, while the repayment of the principal is flexible, provided that interest payments are maintained.

Small business owners sometimes lack the conventional financial documentation that salaried (PAYG) employees usually present, which can complicate loan applications with certain lenders. At RBM Finance, we possess a comprehensive understanding of what lenders require and extend our expertise to assist business owners in obtaining the financing they need.