REQUEST FOR A TAILORED BUSINESS LOAN QUOTE

Are you running a business? If yes, you may wonder what the best way to regulate your day-to-day operating costs and have deep pockets to stay afloat in challenging times is. Now, taking up a business loan should be an option that is worth considering. While the idea of business loans may bring forth plenty of uncertainties and unease, securing the right funding will certainly yield greater opportunities for your business in the long run.

When it comes to business loans, there is no one-size-fits-all solution. It can be influenced by numerous aspects of the business, such as your annual turnover the previous financial year, the purpose of taking on the business loan, operational period, and beyond.

HOW CAN YOU CHOOSE THE RIGHT TYPE OF FUNDING FOR YOUR BUSINESS?

To begin, a business loan should help you build the foundation of your business by stabilising cash flow, and it should never be the source of financial bottlenecks. Hence, assess your finances and ask yourself whether you will end up struggling with a mix of debts. Is your business plan functional enough to account for the monthly interests, and is it worth it? What are the risks that come along? These are some questions to think about.

Next, evaluate whether you intend to take up business loans for a short or long period of time. A short-term business loan gives you almost instantaneous access to capital, whereas long-term loan entails terms of 1 to 5 years, with generally lower interest rates.

Thirdly, and most importantly, choosing the right place to take the business loan from. While there are plenty of avenues out in the market, ranging from banks and microfinancing organisations to perhaps the government and traditional lenders, they all have vastly different criteria, rates and types of loans available. Making smart choices is key here.

LET US ASSIST YOU

At Comparison Advantage, our goal is to provide you with a secure and open environment where you can find the right match for your business. Run through our quick questionnaire and we will connect you with the right loan providers that best fits your needs. Start now!

Please read our terms and conditions prior to your selection of any business loan plans.