Business Finance

The business finance options we provide all require real estate as security over your loan. Generally, business proprietors offer their own home as the security for the loan. At other times, a business property is offered. You can combine more than one property as security for larger loans.

Where your property is already encumbered to a loan, we will refinance the original loan and supply a line of credit for the balance.

If you own your property outright, we can help you with a secured revolving line of credit.

You will only pay interest on the money you are using in your line of credit facility. The line of credit will be a separated from any other loan portion and will be available on a separate loan statement for easy reconciliation and accountability.

If you can supply full financials
You can apply for standard line of credit loan. If you already have a loan can help you with the changeover by contacting your current lender to arrange a payout figure and preparation of a discharge of your existing mortgage. We will require your written consent to do this, as well as signing any documents required by your existing lender.

To apply for a full financials loan, you will need to supply income verification for all applicants. Where you are self employed, you will need to supply tax returns for the last 2 or 3 years for your business as well. We may need to verify some information with your accountant.

We will require a valuation of your property, the cost of which you will be required to meet.

Click here to check out our standard line of credit loan.

 

Apply here if you do not have your financial info ready
We need the minimum of paperwork if you are applying for a new loan. You will only be required to sign a declaration of income form to confirm your self-employed income for no-financials loans. This is suitable for you if you have been self-employed for over two years and have not finalised your financial accounts.

If you have satisfactory repayment and no arrears history for two years during your loan term with Centra Finance, we will reduce your rate to the standard variable rate after two years.

We can also help you with the changeover of an existing loan by contacting your current lender to arrange a payout figure and preparation of a discharge of your existing mortgage. We will require your written consent to do this, as well as signing any documents required by your existing lender.

We will need you to provide the last six months statements from your existing lender as proof of your existing debt and demonstration of your repayment ability. Don't worry if you have had a few minor defaults in the past, we may still have a loan product for you.

We will require a valuation of your property, the cost of which you will be required to meet.

Click here to check out our LoDoc line of credit loan.