Commercial Loans on the Gold Coast
We're on your side
- Are you looking to purchase a commercial building?
- Or do you need help getting a better deal?
- Are you tired of having to present financials every 12 months and renegotiate your commercial loans?
We have a better way!
At Mango we understand the pitfalls around commercial finance. No need to come cap in hand. We know what the banks are looking for, what they see as good business and what they just won't accept. We also know how to present your loan application in the best possible light. We get the banks fighting for your business. But better than all of that we're on your side. We work for you, not the bank. Our goal is to protect your business and to help you succeed. When you succeed so do we. So if you want us on your team, give us a call.
I have dealt with Alex twice now and both times he has exceeded my expectatio
Authentic, reliable and professional advice from someone you can trust is crucial when it comes to your finances. Alex always goes the extra mile to provide the best outcome and also to carefully explain so that you understand what you are doing and why, that's why I highly recommend him and will continue to use his service.
We can help you with all your commercial finance needs
How to avoid the pitfalls in commercial finance
Getting a loan for a commercial building is an exciting time. But how would you feel if a couple of years down the track your bank calls in your loan (meaning they give you 30 days to repay it in full) and you have never missed a payment?
Unfortunately, I have seen all too often commercial borrowers being fed to the wolves, as banks look to protect their balance sheet or simply profit from your demise.
Most business owners buying a commercial property have fairly similar expectations to that off purchasing a home. That is you sign up for a mortgage and your belief is that, as long as you maintain your repayments over the term of the loan than everything will work out ok.
Unfortunately, small and medium business owners purchasing a commercial property, are not afforded the same protections they receive under the National Credit Code when they purchase their home.
Did you know that you can be in default on your loan, even if you never miss a payment?
That’s right you can be in default and never miss a payment!
I have found 3 things that catch most commercial borrowers out and in many cases they can be avoided.
- lOAN REVIEWS
- aSSET PROTECTION
- Bankers work for the bank not "you"
When most people go directly to the bank they generally go cap in hand and will jump through whatever hoops is necessary to get a loan. The Bank manager will act like your best friend, but in reality they should be treated more like a wolf in sheep clothes.
The bank managers role is to make money for the bank. That includes protecting the banks interest when things go wrong. I have seen time and again banks strategically protecting themselves with the clients completely unaware. Banks will cross collateralize a clients assets and advise that you get a better deal by bringing all the business to them. But it can come at a huge cost. What happens are all your assets are now tied up and tied together. You can't sell any assets without the banks approval. Worse still, when you go to make changes it can become very expensive. The bank will now want a new valuation on each asset and if the valuer is feeling pessimistic about the economy, you might be struggling to get a realistic valuation. If any of your assets have now fallen in value, it can bring down your overall borrowing potential.
At Mango Money we are well aware of the pitfalls and we can work with you to structure your assets and your borrowing to give you the best protection possible.