Looking for a bank loan to help grow your small business – without an interest rate that’ll cripple it? Mozo lets you compare small business loans, lines of credit and overdraft options with ease, so you can save on interest rates and fees, as well as bank hassle.
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Whether you’re looking for a business loan for start up financing, to fund a new initiative or grow your company, Mozo compares the lending market through business loans search calculator in seconds to get you the best deal for your needs.
Secured business loans are typically cheaper, but carry the risk of losing your assets – such as a car or property – if you default on the loan. Unsecured business loans have higher interest rates to compensate the banks for the added risk. The more information you provide about the need for the commercial loan, the lower the risk to the finance lender. Commercial loans offer a range of features such as overdrafts or a line of credit – but these financing options can come at a cost, be it monthly fees or higher interest. Mozo’s business loan repayment calculator helps you calculate costs and crunch the numbers to find the most suitable business loan rates for your needs.
Variable rate business loans can offer great flexibility such as fee free redraw facilities and the ability to make additional repayments. But if interest rates go up, so will your repayments, so it’s important to budget for this possibility.
Fixed rate business loans increasingly offer similar features such as redraw and early repayments, but typically charge at a higher rate than the market-leading variable business loans. Fixed rate business finance does give you the certainty to budget for repayments without worrying about interest rates.
Getting the right small business loan is incredible important. A well managed cash flow is essential to the success small business banking; you don’t want surprises like an unexpected interest rise damaging your ability to make every day payments. Use our online business loan calculator to compare what extras the back can provide alongside your small business loan.
Occasionally a company will need a short term business loan to handle the bills while waiting for a client to pay a large invoice or to pay for a large shipment of stock. Mozo has a handy short term business loan calculator so you can quickly check which bank offers you the best rate and you can take advantage of time-specific business opportunities.
This page is about business finance – click on the ‘banking’ tab above for personal loans.
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