Whether you are starting a business, expanding your own family business, or expanding an existing established business, you will definitely need some additional funds to achieve your business goals. But every company has different business needs, so the variety of commercial loan products provided by various financial institutions will confuse many customers. At Perfect Finance, we will devote time to understanding your company's business and help you understand the right business loan for you.
Commercial loans are generally divided into secured and unsecured commercial loans. Common types include: commercial property loans, business loans, equipment loans, etc.
Commercial property loans: The loan amount for shops is generally 65%-70%, and some banks can do 80%. The loan interest rate will be slightly higher than that of a home loan.
Business loans: There are mortgages (fixed assets such as real estate, cars, etc.), unsecured loans (no assets such as real estate, etc.), loan interest rates are relatively high
Equipment loan: The applicant needs to purchase a car or equipment to run a business
Commercial loan applicant conditions
-Under normal circumstances, PR, persons holding business visas, and some TR persons are eligible to apply.
Advantages of commercial loans
Reasonable tax avoidance: Commercial loans are a very effective way of reasonable tax avoidance. Because you are in business! All interest expenses in the loan can be calculated in your operating expenses, and at the same time, for example, the depreciation of commercially purchased properties or vehicles can be tax deductible.
Risk sharing: The bank is willing to lend you money to do business or expand your business. From the side point of view, the bank and you bear your business risks together.
Different from mortgage loans: the situation of commercial loans will be different in each case, so everyone's specific situation is different. Perfect Finance recommends that you should be able to make a detailed loan plan with a regular credit company before borrowing from a bank.
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