Time in Business: Trading 2 years
3 year secured loan, Lender who will finance older assets. Most lenders have a maximum age of 12-15 years at the end of the loan term
We were able to present 2 approval options to the client and both were under low doc loan options. Option 1 was a 2 Year Loan & Option 2 was a 3 Year Loan
We discussed both options with the client and presented it outlining the total overall cost of both loan terms. By comparing the 2 loans for the client they were able to see that the 2 year loan option worked out far cheaper over the long term even though the repayment we more expensive. We ended up with a client who was grateful that we could explain the 2 options available in a simple and easy method.