Do you have an upcoming loan maturity? If one of your business loans is due to be paid off soon, now I is the time to figure out the best options going forward.
What To Consider Regarding Loan Maturity
• What Will Occur at Maturity? Will your mortgage be fully paid off? On the other hand, will you have a large balloon payment due? Or is this loan a seller note that is now coming into play? Or will the loan now be only partially paid, but the bank now has discretion to change the structure and the interest rate of the loan?
• What was the Purpose of the Loan? Is the loan that is in loan maturity your primary business mortgage? If so, the maturity of the loan may mean you owe the property outright. That can be beneficial, although you will not be able to claim the previous mortgage expenses. If the maturing loan is a small part of your debt, it might be best to completely pay off this loan.
• Maturing Loan Creates Opportunities: You can refinance existing debt, retire part of it or even restructure it. We can help evaluate your financing and cash flow needs. You will have a better sense of what type of financing options exist and choose the best one for your business.
If you would like to discuss loan maturity issues or any other business plans, feel free to contact our team. We can conduct a business evaluation, reach out to our lenders, offer advice on bidding and secure financing for you. An initial business evaluation is complimentary.
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