After paying down a business loan, you may be able to further reduce your debt. Refinance business loan to lower interest rates or extend repayment terms — or possibly both.
Refinancing your business loan involves applying for a new loan, either with the original lender or a different one. After repeating the loan process, you get a loan that pays off your existing debt.
There are several factors to consider before moving forward with a business loan refinance. Keep reading to understand what the process could entail and how your business could benefit.
Please provide the following when you submit to refinance business loan
a) Your Full Name
b) Business DBA Name
c) Business & Mobile Phone
d) Email Address
c) Industry Type
d) Amount Requested
e) Average Monthly Income
f) Annual Gross Income 2020
g) Total Gross Income Year to Date 2021
Tell us about your business needs in writing.
1. Provide material and equipment list that you need itemized at current market prices.
2. How much liquidity do you have?
3. How much do you need.
4. Executive summary financials report.
5. How you plan on paying back the loan.
6. Assuming you are a pre-revenue company do you have a pro-forma?
We do not need your bank financial statements, voided check & tax filing right now but keep them handy.