FINANCE PRODUCTS
BUSINESS DEBT CONSOLIDATION & REFINANCING
Could your existing business borrowing work better?
It’s common for businesses to take on different types of finance at different stages. Over time, this can result in several facilities, different repayment dates and borrowing that may no longer suit the way the business operates today.
Business debt consolidation and refinancing can provide an opportunity to review existing borrowing and explore whether a different funding structure may be available.
Why might a business consider refinancing?
You may be looking to:
Consolidate multiple finance facilities
Replace existing borrowing
Simplify monthly commitments
Restructure short-term finance
Review expensive existing borrowing
Improve monthly cashflow
Extend the repayment period
Raise additional working capital
How can The Funding Step help?
We’ll start by understanding the finance you currently have in place, why it was originally required and what you’re now hoping to achieve.
Where appropriate, we can then help you explore alternative commercial finance options and guide you through the information that potential lenders may require.
Refinancing won’t be suitable or available in every situation, and reducing monthly repayments doesn’t necessarily reduce the overall cost of borrowing. Extending finance over a longer period, for example, could increase the total amount repayable.
Looking to review your existing business finance?
Tell us about the borrowing you currently have and what you’re hoping to achieve.