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About Commercial Business Loan
Welcome to Commercial Business Loan, your trusted institution for all your commercial loan and mortgage needs in Australia. Located at Bankstown, Chapel Road, 402-410, our establishment is a recognized point of interest in the finance sector.
In Australia, commercial loans and mortgages are widely available from various lending institutions. These loans are considered non-coded as they do not fall under the NCCP (National Consumer Credit Protection) regulations, as their intended purpose is for business use.
Commercial loans and mortgages are loans that are secured using commercial property as collateral. While many aspects of a commercial loan are similar to other property secured loans, such as residential loans, there are some key differences. Commercial loans require commercial security and must be used for commercial or business purposes.
Commercial properties in Australia make up 20% of all properties bought and sold on the market. These properties are classified into different zones based on their nature and location throughout the country. It is important to check with your local council to determine the classification of the commercial property you are interested in.
Banks and non-banks offer commercial loans primarily for business and investment purposes. You can obtain a commercial loan or mortgage to finance various needs related to your business.
Banks usually have stringent assessment criteria for commercial loans and typically lend up to a maximum of 70% LVR (Loan-to-Value Ratio). However, there are some lenders who may offer loans up to 75% or even 80% LVR. Some banks also have low documentation policies for commercial loans.
Non-bank lenders often offer set-and-forget commercial loans, where the loan terms are set and not regularly reviewed. These lenders may also be more flexible with lending to borrowers with bad credit or higher LVRs in certain circumstances.
Small commercial loans, also known as small business loans, are typically under $1 million and are not subject to annual reviews by the lender. These loans can be approved up to 80% LVR on both full documentation and low documentation basis.
For larger commercial loans, it is essential to work with a knowledgeable mortgage broker who can negotiate favorable interest rates and loan terms based on economies of scale.
There are various product types available for commercial property loans, and different lenders offer different options. These can include variable rate loans, fixed rate loans, interest-only loans, and more.
Interest rates for commercial properties are generally slightly higher than other loan types. For strong and well-established borrowers, the rate difference is minimal and can be very similar to a residential loan. However, for borrowers who are not as strong, the rate difference can be significant.
In 2012, it was possible to obtain interest rates for commercial properties as low as 5.1% from select financial institutions and lenders. Additionally, many lenders offer the option to link the commercial interest rate to the Reserve Bank's cash rate, providing regular movement based on Federal Reserve Bank decisions. Fixed rates for commercial loans can also be obtained for periods ranging from 1 to 10 years, depending on the lender.
At Commercial Business Loan, we have offices in Sydney and Melbourne to serve our clients. Our Sydney office is located at Level 6/402-410 Chapel Rd, Sydney, NSW 2200, and our Melbourne office is situated at 2B Mulgoa St, Brighton, VIC 3186.
Trust us to provide you with excellent service and competitive rates for your commercial loan and mortgage needs. Contact us today to discuss your requirements and let us help you achieve your business goals.
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