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Secured Business Loans

Founding, running, and building a business costs money – and the old adage that you need to spend money to make money is true. Many business owners are required to borrow money in order to build their business and allow it the opportunity to grow. This could be for wage payment, purchase of equipment, buying inventory, renting premises, or financing growth. For this purpose, there is an array of business loan products available; however, in order to access larger sums of money with lower interest rates, you’ll need to have adequate collateral to secure the loan, usually in the form of residential or commercial property. These types of loans are referred to as secured business loans.

What is a Secured Business Loan?

A secured business loan is a loan for business purposes that is secured by an asset you already own. In most cases, this collateral is in the form of commercial or residential property and in the event that you are unable to pay back the business loan, your asset will be used to cover your debt. Your business loan lender will potentially sell your asset to use the proceeds of the sale to cover your outstanding debt and other expenses if you fail to honour your repayments.

This sounds like a high-risk option, and it can be, but it does offer an array of distinct benefits. With secured business loans, the loan is supported by your asset, therefore you have far greater borrowing power due to the fact that the lender is assuming a lower level of risk. This means that a secured business loan will frequently allow you access to larger loan amounts and with lower interest rates and longer loan terms.

Some lenders accept collateral other than property for a secured business loan, and this can include vehicles, equipment, cash or savings, invoices, or the value of your business itself.

How Can Universal Finance Help with Secured Business Loans?

Universal Finance is a renowned South Australian finance company and we offer many varied financial services including secured business loans. We have consistently provided Australians throughout the nation with effective, flexible finance solutions and an effective alternative to traditional mainstream lenders like banks and credit unions since 1999.

At Universal Finance, we deal directly with lenders in order to save time and money. Our friendly team of professional consultants have access to a very wide array of private lenders throughout Australia, offering greater flexibility to our clients than banks and other mainstream lenders will offer. This means that we can deliver solutions for even the more challenging finance requirements and circumstances, without delay, so your business does not suffer due to long waiting periods for loan approval.

A secured business loan could be the right solution for you, particularly if you are:

  • An established business
  • A business with strong credit history
  • Have valuable assets
  • Require a large financing amount
  • Are seeking finance for renovation, expansion, or are refinancing

Choose Universal Finance TODAY

Contact us today at Universal Finance for unparalleled knowledge and industry experience. We are equipped to quickly understand your loan requirements and we will work with you to develop a very satisfactory solution. Look no further than Universal Finance for the best secured business loans available.