Refinancing your debtPublished on 31st March 2017 - Last update on 19th January 2018
Experiencing financial difficulty is something that can happen to any business owner, whether you are expecting it or not. Although it may not have been through your own doing, sadly, the reality is that you are left to deal with it all the same.
No doubt the situation seems worrisome and you may be under a lot of stress, but there is an option available.
Coping with your debts?
You may already be contending with repayments on existing financial products, but find yourself fighting a losing battle. Whether it’s as a result of low growth or possibly a misjudged business decision, help is at hand.
Refinancing your debt might just be the solution you’re looking for. What this option offers is the ability to consolidate all your existing debts into one manageable financial package – a loan.
How does it work?
Simply put, this method of finance allows you to swap your existing debts and combine them into a single loan product. The goal here is to grant your business the ability to better manage your working capital and alleviate the burden on your cash flow. You’re looking to either acquire a reduced interest rate or opt for a smaller monthly repayment scheme. But before you go and dismiss this notion, it is possible!
How can I refinance all my debts?
When looking to consolidate your debt, you must ensure that you really are opting for the lowest possible interest rate, one that will allow you to pay far less than you currently do each month. After all, isn’t that the whole point of refinancing?
When considering alternative finance, the vast array of products and lenders can be daunting. This is why more and more business owners are seeking out their financial options using Rangewell.
Our values are simple – we’re on your side.
We support a wide range of SME businesses of every shape and size, for finding every type of finance. Follow us on Twitter and LinkedIn for business tips and tricks, and feel free to call us on 0203 637 2340 if you’d like to chat about what we can do for you.
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