Small Business owners go through many changes in their business and often finance arrangements whilst they met the need at the time may be able to be restructured more effectively for their business today. We are proud to be Australia’s Business finance specialist especially when it comes to restructuring a business’s finance arrangements.
Why Would You Want to Restructure Your Business Finances?
There are many benefits to debt restructuring as there are also some points to be aware of:
- Small Businesses change regularly and quickly; given the speed that changes can occur finance facilities that were at the time correctly structured may not now be ideally suited to your business;
- Lending products and offerings are also changing, meaning that there may well be a much better option suited to your business;
- Sometimes unforeseen changes occur in your business that are out of your control, your business may benefits from restructuring facilities to improve cash flow and loan terms.
Some things to keep in mind:
- There can be costs involved in restructuring debt, you should ensure that there are suitable benefits to restructuring to justify any costs;
- Any debt restructuring should be done in consultation with your accountant as there may be tax implications for changing facilities which can outweigh any benefits from the restructure.
- Prior to restructuring debt, you should have clear understanding of your current and long term business goals to ensure that any new facilities will allow you to reach your goals and growth sooner.
- You should speak with an experienced Commercial Finance Broker such as Edgeview Direct to get the maximum range of options but more importantly the correct expertise. Commercial lending can be very complex, you must ensure that you are receiving the correct advice prior to restructuring your debt or you could find yourself wasting a lot of time and money with debt that is not right for your business.