when to refinance and business loan

Hi wkatkinson,

Welcome to the forums.

You will get your answer from the sections, http://www.mortgagefit.com/why-refinance.html and http://www.mortgagefit.com/discuss/2percent-rule.html .

Thanks,

Caron.

Hi wkatkinson,

Business loans are of two kinds - secured and unsecured loans. Secured loans are offered against your home, car, or savings account or any other property of the borrower. These loans are preferred as you can borrow a higher amount. The loan amount depends upon the loan term and your credit rating. You can also extend the loan period, often till 30 years.

If you are interested in business loan, first prepare a business plan and then show it to your lender. Explain him about every detail of the plan. The plan will determine your possibility of getting the business loan. The plan should mention your product, the business strategy, and competitors in the market, future plans and probable risks involved.

If you are already into some business, then documents to be given along with the loan application are:

• Copy of business tax returns,
  
• Balance sheet,
  
• Profit and loss statement.

You should also provide a business profile mentioning the annual sales, how long you are in business, and type of ownership of business.

It's better to choose a secured business loan as they give you flexible payment options where you can underpay, overpay or pay monthly as per your convenience.

Thanks

bussiness loan enquiary

Hi Sonron,

If you are interested to know about business loans, kindly read through the post given above. And, let us know what exactly you are looking forward to enquire about such loans.

Thanks,

Sara.