Equipment Refinancing—Smart Business Practices

Investing in equipment that will be used to generate cash may require that a commercial business owner takes out a loan. As time passes, high interest rates, balloon payments, and limited working capital may encourage an owner to seek refinancing services. Credit Changes A business owner may endure changes in their credit worthiness, allowing them to obtain a loan that will not be as costly to pay back. If a consumer's credit rating has increased, their lender may offer them refinancing options that will incur lower interest rates, reduced payment amounts, and a more flexible repayment schedule.