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Industrial factory finance lets your business – whether it be small, mid-sized or large – get access to capital for a range of reasons. This can include buying commercial real estate, constructing industrial property or refinancing an existing property loan. A number of lenders across Australia provide industrial finance or commercial loans, but factors like loan term, interest rate, repayment flexibility, and payment methods vary from one provider to the next.
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An unsecured business loan with online application and no upfront or early repayment fees.
You, as the owner of industrial premises like a factory or commercial establishment, can apply for industrial factory finance or a commercial loan. You can use the loan for just about any industrial-related expense, which could include buying, leasing, or constructing real estate; building a land bank; or refinancing existing commercial property.
Commercial loans can come with fixed and variable interest rates, but fixed rate terms generally don't exceed five years. Whether or not you can make additional repayments, and if there's a limit attached, depends on the type of finance you take as well as the finance provider.
Since there are a number of options when it comes to getting industrial factory finance, comparing the following factors can help:
If your business has a few outstanding invoices, invoice financing can help manage your cash flow. It's a type of business loan that is secured by the unpaid invoices and comes with reduced risk, no asset requirements or interest payments.
Compare invoice financing products below.
Don't take on any kind of finance without going through the applicable fees and charges first. If you want options for your loan, make sure you compare without applying – making multiple credit applications can have an adverse effect on your credit history.
Can anyone apply for industrial factory finance?
You can apply for industrial factory finance if you have a business registered in Australia, although approval is subject to you meeting the set lending criteria.
What is the minimum and maximum term I can look at?
You can get terms starting at the one year mark, while some variable rate commercial loans come with terms of up to 20 years.
Can I apply for a loan with bad credit history?
Yes, certain industry factory finance providers accept applications from businesses that have bad credit or no credit history at all.
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