Self Employed

Business Finance \ Refinance

Couple running a trade business

30 years in Business

Brian and Judy have owned and operated their electrical business for ten years. The business operates from a property which they own and have a Business Loan in place on this.

A slow decline in lending quality

Like so many business operators, they have banked with their current bank for over 30 years and genuinely believed they were in the best financial position they could have hoped for.

Again, like so many family business people, they had NEVER reviewed their finances. Brian and Judy received their finance to purchase their commercial premises over 5 years ago. But today, the business is in a much different position now than it was then.

What Brian and Judy failed to understand is that Business Finance is very different to borrowing to purchase your owner-occupied home. Sometimes banks can apply ‘margins’ to interest rates depending on the risk of the applicant.

GFS to the rescue

Jaime was asked to look over Brian and Judy’s situation and review all of their financial goals. Because Brian and Judy had been able to pay a lump sum off their Business Loan within the 5 years, Jaime was able to secure a more attractive interest rate by changing to a different lender and cutting their loan term in half.

The Result

This revised structure gave Brian and Judy the ability to redirect cash flow from the business to a different debt that was costing them more. By paying this off more quickly, Brian and Judy found themselves in a much better financial position.