The world of commercial finance is ever evolving. Lenders continually adjust rates and loan features, and new players enter the market regularly. Over time, what was once a market-leading loan could transition into an average one. In such cases, it's important to explore refinancing options for a better commercial loan.
Also, your circumstances may have changed since you first obtained your loan! If your business now boasts stronger cash flow and a healthier balance sheet, you may qualify for a wider array of loan options and potentially secure a lower interest rate.
While obtaining a lower interest rate is a compelling reason to refinance, it's not the only one.
Refinancing can also open doors to accessing equity in your commercial property, which can be used to acquire additional assets.
Furthermore, refinancing provides an opportunity to reconsider your loan structure or loan term, tailoring it to your evolving needs.
While refinancing can be a powerful financial tool under the right circumstances, it may not be suitable for everyone all the time.
Before proceeding, consult with a Vie Advisor to determine if refinancing aligns with your specific situation. We'll assess: