Lower Interest Rates Available to Small Businesses Through Secured Loans

Lower Interest Rates Available to Small Businesses Through Secured Loans

Press Release (ePRNews.com) - MELBOURNE, Australia - May 07, 2021 - A secured business loan is a business finance product that uses an asset that the business owns, as security against monies borrowed. A number of alternative lenders, such as leading Australian non-bank lender Liberty Financial, now provides a good alternative to the traditional banks.

Secured business loans typically offer lower interest rates and the ability to borrow a larger amount of money, compared to unsecured business loans. The qualifying criteria for a secured business loan will vary between lenders and will likely depend on the amount a business wishes to borrow. It will need to own a suitable asset (or assets) to provide sufficient security for the amount it would like to borrow.

Residential and commercial properties are commonly used as security, but depending on the size and value of the business, some lenders may be willing to accept a charge over the business as security for the loan. Some lenders will also require the borrower to provide a business and personal guarantee when obtaining a secured business loan.

The first step in applying for a secured business loan is to find a lender who understands the company’s needs and can provide a loan against its assets at a competitive interest rate. Some lenders are more flexible than others and will offer secured business loans for longer loan terms or as lines of credit with flexible repayment terms. Thanks to its specialist credit assessment practices, Liberty can also assist business owners with lower credit scores to qualify for secured business loans.

For small business owners of any size, discussing the financial situation with an accountant or financial adviser can be a smart first move. Discussing business projections and any contingency plans in case of a market downturn can provide added comfort when embarking on a new financial commitment.

Exploring the small business loans available from Liberty could provide a business with the support it needs to grow.

Approved applicants only. Lending criteria apply. Fees and charges are payable. Liberty Financial Pty Ltd ACN 077 248 983 and Secure Funding Pty Ltd ABN 25 081 982 872 Australian Credit Licence 388133, together trading as Liberty Financial. 

Kate Jenkinson
Media Relations
P: +61 3 8635 8888
E: mediaenquiries@liberty.com.au

Source : Liberty Financial
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