Many businesses need to take advantage of long-term loans in Australia for a wide range of reasons but often cannot secure the funding they need from traditional lenders such as banks, this is where Universal Finance come in. A long term loan typically has a term of between three and seven years, depending on the amount borrowed and the business’s circumstances. Universal Finance have access to a wide network of lenders that are specialists in long term bad credit loans and do not have the same conditions attached to lending as most banks.
If you or your business is in need of a long term loan and your bank is unable to help, please call Universal Finance for other options.
The reasons why businesses need long term financing are wide and varied but are generally used for larger purchases such as new equipment and machinery, vehicles or to expand or renovate commercial premises. We can also facilitate and offer small long term loans for smaller funding requirements if required.
We realise that as a business, getting approval for a cash injection from a lender needs to be done as quickly as possible and for that for reason we offer long term loans online approval as quickly as we can.
If you have any questions regarding long term business loans or would like to learn more about any aspect of the loan application process, please don’t hesitate to drop us a line and speak one of our experienced advisors.
Universal Finance are commonly known as the ‘difficult loans specialists’ and have extensive experience in getting approval for long term loans with poor credit. If you are struggling to get the funding you need from other sources, why not get in touch with Universal Finance to find out what we can offer?
Getting a long-term business loan is about finding a lender who is willing to work with your business. The right lender for you may be outside of the traditional banking network and our team has access to these kinds of lenders to help you secure the finance you are looking for. Our team at Universal Finance can help you through the process of applying for and gaining approval for your long-term business loan.
Making long-term payments on a long-term investment is simply good business. A long-term business loan allows you to receive the cash injection you need to take your business to the next level now and gives you time for that investment to make you the returns you need to pay for it. Not all businesses have the cash on hand that they might need to invest in growing their business, with a long-term business loan you can have that cash in your business account now to ensure the growth and success of your business in the future.
A long-term business loan is a lump sum payment that is made to your business when the loan is approved, which is then repaid to the lender as principal and interest over the duration of the loan. There are certain criteria that lenders look at when assessing a long-term business loan to determine the overall financial health of your business. These criteria include your cash flow, how many years you have been in business, the industry you operate in, and your creditworthiness. The interest rates on business loans can vary depending on the risk level on each loan.
Smaller business loans normally have terms ranging from 12 months to 3 years, however larger long-term business loans have terms ranging from 3 years to 10 years. Business property loans for commercial real estate purchased may extend for up to 30 years depending on the size of the loan. The interest rate on a long-term business loan is charged per annum, so the longer the duration of the loan, the higher the interest amount that will be paid in total.
The maximum terms you can get for a long-term business loan depends on the lender you choose. Every lender in the business market offers different loan products for business with varying fees, conditions, and interest rates so it is important to make sure you are dealing with the lender that is right for your business. The average duration of a long-term business loan through a regular bank lender is between 3 to 10 years, but at Universal Finance we have access to a range of alternative business lenders who may be able to offer you a longer duration on your business loan.