Adelaide Bank offers its commercial clients a way to expand their business with an easy to apply for SmartSuite Commercial Simple Doc Finance Loan. They understand that your financial statements do not always reflect your ability to repay a loan when it comes to growth. Take advantage of the benefits and features they offer to get you the money you need for your company.
| Product Name | Adelaide Bank ? SmartSuite Commercial Lo Doc Finance Loan | |
|---|---|---|
| Interest Rate Type | Variable | |
| Interest Rate | 8.94% p.a. | |
| Minimum Loan Amount | $150,000 | |
| Maximum Loan Amount | $3,000,000 | |
| Maximum LVR | 75% | |
| Mortgage Offset Account | No | |
| Loan Redraw Facility | No | |
| Split Loan Facility | No | |
| Fixed Interest Option | No |
The Basics of a Simple Doc Loan
You can use a simple doc commercial loan to consolidate other financial obligations into one loan or refinance an existing loan to have easier repayment terms. This gives you more money that is spendable and often can be enough for a simple expansion of your existing business.
This could be something as simple as purchasing more equipment or keeping a larger inventory. If you are looking to purchase more real estate, this loan is available for up to $3,000,000. The term of this loan can be for up to 25 years. Choose between making interest only payments for the first 10 years of the loan to allow you to establish more business with your investment.
What are the Requirements for Loan Approval?
The commercial simple doc finance loan from Adelaide Bank requires you to declare, in writing, that you have the knowledge and experience to prepare and run the business to the extent that it will not put any additional burden on you financially. If you are purchasing another building, you know how to get it ready for business, if you are purchasing more equipment, you know how to use the equipment to turn a profit. You will also need to have some type of real estate collateral to secure the loan; this can be any type of commercial or residential property that has existing buildings on it.
Benefits of the Loan
You choose whether you want a fixed-rate or variable rate for your interest on the loan. You also can decide the length of the loan, whether you pay the interest only for part of the loan and whether or not you want to make additional payments towards the principle. It is a completely customisable loan so you will not have to worry about the terms being something that scare you.
Making the Most of your Money
Sometimes it is more profitable in the end to pay a little more now for something; this includes a loan. With Adelaide Bank, you are involved in every aspect of your loan. You understand your business better than anyone else does. You know how hard you will work and what you need to do to make it work. If you need to have your payments a bit less at the beginning, go with interest only. You may know that there will be an increase in business and then a period of slower income for a while. You can choose to pay interest and principle at the beginning and then change to interest only. You get to decide on a fixed-rate or variable rate interest and can change that as time goes on too.
Read the official terms and conditions
| Product Name | Adelaide Bank ? SmartSuite Commercial Lo Doc Finance Loan | |
|---|---|---|
| Interest Rate Type | Variable | |
| Interest Rate | 8.94% p.a. | |
| Minimum Loan Amount | $150,000 | |
| Maximum Loan Amount | $3,000,000 | |
| Maximum LVR | 75% | |
| Mortgage Offset Account | No | |
| Loan Redraw Facility | No | |
| Split Loan Facility | No | |
| Fixed Interest Option | No |
| Interest Rate Type | Variable | |
|---|---|---|
| Interest Rate | 8.94% p.a. | |
| Repayment Type | Principle & Interest | |
| Extra Repayments | No |
Read the official terms and conditions
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