Business debt consolidation
Cutting the cost of your borrowing
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Pay Less For Existing Loans
- Replace existing loans
- Any size of lending
- Pay off existing arrangement
- Take advantage of better rates
Raise Funds
- Raise additional funds
- Extend loan terms
- Deal with cashflow shortfalls
- Reduced interest rates
Versatile
- Simple to arrange
- Consolidate debts
- Increase borrowing
- Find more suitable finance type
Many businesses can find that existing debt repayments can become a problem. Consolidating business debt might be the answer
Healthy cash flow is key to any successful business. But businesses of any kind can hit slow periods, which restrict the cash coming in.
If the flow of cash is so restricted that the business has cannot cover its commitment to expenditure, it can mean real problems. If the situation went on for any length of time, and you found it impossible to pay back creditors, the business might be forced to cease trading.
However, if those commitments are repayments on finance arrangements, there could be solutions which will allow the business to get back on track.
Debt consolidation can be a financial lifeline for any business that has discovered that its loan commitments have become unsustainable
Consolidate debts into a single repayment
Business debt consolidation means consolidating multiple business debts into one or paying off several loans with another, single agreement. The overall idea is that you can swap expensive debt for more affordable arrangements, cutting your repayments into a sum that you can manage more easily.
By arranging finance from a lower-cost provider, or agreeing an extended repayment term, you can make substantial reductions in your monthly commitments.
Reduce your business outgoings
You don’t even need to wait for your debt to become a problem. Many successful businesses will use consolidation to reduce their costs, allowing them to release cash for use elsewhere.
When properly used, debt consolidation can reduce monthly outgoings by giving you longer to repay or by letting you take advantage of lower rates - and by having a single payment to make each month rather than several, it can simplify your account's administration too, making your books look more attractive if you need further funding.
You can also use refinancing to increase your borrowing - by taking out a single loan to pay off existing commitments and to provide extra funds on top.
What are the benefits of a business loan consolidation?
There are several benefits from consolidating your loans:
- Reduced outgoings - if properly planned, you can use loan consolidation to reduce your monthly repayment commitments
- Improved cash flow - by cutting the amount you pay out each month, your overall cash flow can be improved, keeping your outgoings in step with income
- Take advantage of lower interest rates - lower interest rates may be available if you are able to shop around for the most competitive loan - or allow Rangewell to search for you
- Take longer to repay - spreading your repayments over a longer period can reduce monthly repayment s although you may find that your overall repayments increase
- Simpler bookkeeping - rather than having to juggle debts and the repayments for multiple sources of business finance, putting them all into one place will make administration and bookkeeping simpler.
- Increase your ability to borrow additional funds - debt consolidation can reduce your outgoings, giving you additional funds which you may choose to use to afford additional finance
When should you consider debt consolidation
- If your business is sound, but you have found that your repayment position is becoming a problem debt consolidation may be the simplest route out of difficulties.
- You may be eligible to get better rates and terms than you were able to get originally.
- You need to raise addition finance - and believe that your existing debt commitments could prevent you from accessing additional credit.
REAL EXAMPLES OF WHAT WE CAN DO
Find the most competitive funding to refinance a property company
Help a delivery service consolidate after an expansion phase
Source a refinance deal for a microbrewery
Find the most competitive finance for an forestry company
Help a graphics company refinance to stay in business
Why come to Rangewell for debt consolidation?
Debt consolidation is a commonly-used technique in business finance - but your existing lenders are unlikely to want to help. Consolidation may require a lender who is prepared to look at the big picture and offer a more attractive rate of interest on your finance.
It may also require a different type of lending - such as a Secured Loan.
At Rangewell, we work with lenders across the entire funding market. Our team knows those who specialise in refinance, and we can help you find those who can offer the most attractive refunding arrangements for your needs.
It means we can help you find the most competitive deal for your needs.
Talk to our experts to discuss the details.
Helping you build your profits
Lending tailored to your business
At Rangewell we can help you find the most affordable and appropriate finance for any funding need you may have.Cutting the costs of finance
We can help you find the most cost-effective solution for your finance - you don’t need to wait until repayments become a problem.Consolidate all types of loan
Paying off your existing commitments of all kinds may be possible.Longer to repay
By spreading your repayments over a longer period, your monthly repayments can be reduced.Better rates
Getting lower rates may be possible when you refinance - this can mean cutting repayments still further.Long-term support
At Rangewell, we want to work with you for the long term - helping you find the funding you need now and for the future.Download Rangewell’s free and detailed guide to Refinancing
How can Refinancing help your business deal with financial challenges?
What types of Refinance are available?
Why not all providers are equal - finding the one that’s right for you
How we can help you pay less
The downsides to Refinancing - and how to avoid them
How can refinancing help with my monthly payment?
Is refinancing the same as remortgaging?
What loan terms and interest payments can I expect with refinance programs?
What happens to the original loan balance if I choose to refinance?
Is refinancing a good choice if my business' financial situation has changed?
Does refinancing still mean fixed rate loan repaymens?
Can I release cash with refinance products?
Can I refinance a current mortgage on my business premises?
What key terms do you need to know?
Download our free ebook for a complete guide to refinancing
Transaction costs
Refinancing can be expensive. There can be arrangement and other fees to set up Refinancing, and early repayment penalties from your existing lender. You need to be sure you will make the savings you need.Higher costs overall
When you extend your loan payments over an extended period, you pay more interest on your debt. You might enjoy lower monthly payments, but that benefit can be offset by a greater overall cost.Risks for the longer term
Refinancing may help you make short-term savings, but a longer commitment may actually increase the risks to your business.Our service is...
Impartial
Transparent and independent, treating all lenders equally, finding the best deals.In-depth
Every type of finance for every type of business from the entire market - over 300 lenders.In-person
Specialist Finance Experts support you every step of the way.Free
We make no charge of any kind when we help you find the loan you need.