What Affects Your Business’ Risk Profile When Talking To Lenders?
For businesses, the ability to access finance can make a huge difference to your success and ability to grow.
Regardless of the type of asset finance you’re looking for, your ability to repay debt will likely be examined by a lender. Lenders will assess your risk profile to determine things like your interest rate, so it’s important to understand how your business looks in the eyes of a lender.
Here are some factors that impact your risk profile:
- Length of ABN registration
- Your business’ performance
- GST registration
- Whether the loan is secured or unsecured
- Low doc vs. full income verification
- The asset