Commercial finance is a form of business finance or business funding. The lending is designed for commercial entities, rather than individuals. There are many types of commercial finance, ranging from straight forward loan terms, through to asset finance, land acquisitions, and property finance.
The simplest form of commercial finance is a commercial loan. You agree an amount, a repayment period and the cost of finance (for example, the interest rate and fees). Commercial loans can be secured or unsecured. Secured loans are usually cheaper, because the lender is taking a lower risk, but you need to have assets to use as security. Unsecured loans are useful for companies that don’t have enough assets to get a secured loan. Originally, commercial finance would have come from mainstream lenders like high street banks, but in more recent history the door has opened to include a variety of alternative finance available too.
There are some methods to give you an approximate amount, such as multiplying your income by x5 or concluding how much you could afford per month.
Those looking to qualify for commercial finance typically need to meet a minimum criteria related to annual revenue, credit scores and years in business.
A secured business loan in which the borrower pledges as collateral any assets used in the conduct of his/her business. Also called asset-based lending or asset-based finance.
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