COMMERCIAL LOANS

Commercial loans are either Interest Only Loans or Principal & Interest Loans secured by way of a first or a second mortgage over income - producing commercial, industrial or retail properties.

Finance is normally taken out to assist in the purchase or refinance of a property, for the purchase of other business assets or to provide funds for working capital requirements.

Interest only loans are to terms of 5 years and the rate can be either interest only variable or interest only fixed.

Principle and Interest reducing loans terms are structured over terms of up to fifteen years.

The interest payments are tax deductible.

Loans can be secured to a maximum of 80% of the value of the property however loans to 66% of valuation normally attract a lower rate of interest.

Commercial Finance is a very specialised field and people should be wary of brokers promoting themselves as Commercial Brokers.

Chocolate Homeloans has two very experienced gentlemen who are ex bank Commercial Managers working exclusively with Chocolate Homeloans. Max Carter was a Commercial Bank Manager for 29 years and has worked as an independent broker for 2 years prior to joining Chocolate Homeloans.

Jerome Shaw worked with a major bank for 34 years as a Commercial Credit Manager. He has also spent two years working for a leading non conforming Lender prior to joining Chocolate. Jerome is also a Fellow of the Australian Institute of Banking and Finance.

Working Capital Loans

These loans are required to assist in the growth of a business which can be affected by the slow payment of debtors.

These loans can be funded in a number of ways.

Debtor or Factoring Loans

These loans are secured by debtors or outstanding trade invoices to 90% of the value of those invoices and funds are usually available within 24 hours. Instead of waiting up to 60 days for payment of these invoices you can get the money when you need it because your financing is linked to your sales and trade invoices, not to your customers payment problems.