Bank Refinance

A guide to refinance (or rebank)

What is refinancing? Refinancing is when an existing debt responsibility (for example a loan) is replaced with another debt responsibility under different terms. 

For businesses, this can mean paying off an existing loan or loans by taking out a new loan or loans (sometimes known as rebanking). It is often part of a restructuring of a company's business.

On this page, we have included some reasons that your business may need to look into refinancing options. Followed by some options available to you. Please contact us should you have any queries.

Why you may need to refinance or rebank

Rebanking and refinancing offer ways of funding the working capital (the available cash) you may need to maintain your business or to seize opportunities for further expansion. 

Common reasons for refinancing include: 

  • Refinance to shorten the term of a loan 
  • Refinance from an adjustable-rate mortgage to a fixed-rate loan 
  • Refinance to lower your interest rate on a loan 
  • Refinance to lower your repayments 
  • Refinance to cash out home equity

Types of finance available

Overdrafts

  • Overdrafts are short-term or ongoing lines of credit advanced by your bank or another lender. 
  • Like most finance types, the availability of any overdraft facility depends on the viability of your business.

Loans

  • Alternatively, a lender may advance a loan for a fixed amount generally by instalment over an agreed term. 
  • This loan may be unsecured or secured against assets of your business. A secured loan means that the lender may take possession of the asset used as security.

Asset refinancing

  • Any asset held by your business which has not already been used as security against other borrowing or loans (otherwise known as an unencumbered asset) may be used to raise finance against those assets.

Do you need to access working capital in order to meet your day-to-day business needs, or to explore new routes to market? Any of these methods could create a solution.

Why use Brookfield Finance Ltd?

Why use Brookfield Finance Ltd?

  • At Brookfield Finance, we have considerable experience in dealing with clients looking to expand their businesses and in accessing the funding that is needed.
  • Whatever the business expansion finance solution appropriate for your particular business, we are likely to identify sources offering financially attractive ways forward.
  • To find out more, you might want to complete our online enquiry form or simply contact us by telephone or via email to discuss your business expansion plans with us.