Commercial Loans

A commercial loan, often referred to as a business loan is a large, long-term loan that can be used for a number of purposes, including buying equipment, hiring staff, purchasing commercial property or funding any other business activity.

Main reasons to opt for a commercial loan

There are a number of reasons that encourage you to take commercial loan

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Contract of sale for commercial premises

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Renovating your existing workplace to increase efficiency, improve safety or make extra space.

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Buying new equipment or upgrading old equipment.

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Securing extra capital so you can handle bills and invoices or make payroll

Prerequisites for a commercial loan

If you’re ready to take a commercial or business loan, there are some key questions you need to ask yourself first:

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Is your research complete? Is it done in a detailed way?

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Have you taken into account your business performance in the past years?

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Are your financial records properly maintained?

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Do you have any pending debts?

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Will you be using the loan for purchasing physical assets (i.e. machinery, vehicles etc.)?

This will help you to analyze your needs for a loan better

How to apply for a commercial loan?

If you want to apply for a commercial loan, you will need to have a good reason and the financials to back it. This includes providing financial statements and showing that there is a business case for the loan. If it’s to purchase commercial property, you would need to show the financial returns from the purchase.

For buying a business, you would need to show the financials of the business to show that it’s viable and will provide enough cash flow to make the loan repayments.

The process of taking a loan is not only time-consuming but a detailed one. We at Alliance financials help you simplify the process

Documents needed to apply for a loan

Important documents you need to possess to apply for a loan are stated below

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Contract of sale for commercial premises

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Valuation documents or quotes for machinery, vehicles and other equipment

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Business plan and financial projections, including market and competitor assessment

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Business financial records for the past two financial reporting years

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Personal financial records for the past two financial reporting years

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Valuation documents for any personal assets offered as loan security

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How we can make the loan- taking process easier for you?

It takes ample amount of time to do a thorough research, to find the right loan product, to apply for it and to get it sanctioned. We at Alliance financials understand this very well and make sure your precious time is not wasted and you get your loan sanctioned hassle-free. If you wish to apply for a loan by yourself it might get you in a tricky situation. For applying a loan you have to follow a lengthy and complex process and if the application is not filed properly it will bring you back to ground zero and chances are there that your loan-application will be declined. It not only waste your precious time but also damage your credit score, making it harder to get approved for finance next time around. So don’t trouble yourself and reach out to us and make your loan approval process easier with us