Are you ready to purchase a commercial property for your medical practice? Our team have extensive experience and knowledge in this area and we are dedicated to making sure the process is as smooth as possible for you. 

Our brokers have access to over 60 lenders, meaning we can secure the right commercial loan for your unique situation. Securing the right finance solution from the beginning means you avoid any pitfalls down the road. 

What’s a commercial loan used for?

To understand if a commercial loan is the right solution for you, it’s important to understand what you can use the loan for. 

  • Hire new workers
  • Improve cash flow
  • Marketing and advertising costs
  • Purchase new equipment
  • Fitout costs
  • Franchising and exporting opportunities

What income proof is required for a commercial property loan?

When it comes to commercial lending, it’s not necessary to prove that you can afford the loan, meaning there are a number of ways that you can verify your income. These options consist of:

  • Full doc: This is a standard loan application where you provide full financial statements.
  • Low doc: You must provide partial income evidence such as an accountants letter, bank statement or BAS statements.
  • Forecasts: You must provide a profit and loss forecast showing that this loan will allow your business to earn additional income which will cover the repayments.
  • Lease doc: You must prove that the income from the lease is more than the interest repayments.

If you would like to discuss what the right option is for your situation, then reach out to our team of mortgage brokers from Enrich Finance.

What are the different security types for a commercial loan?

  • Directors’ guarantee
  • A property, including residential, commercial and rural land or 
  • The value of your business 

If you don’t have security for your commercial loan, then in some cases, the lender will offer an overdraft. Of course, each lender will have different criteria so it’s important to discuss this with your mortgage broker or bank directly. 

Ready to get started?

At Enrich Finance, we have a mission to find the right loan for your needs and to always have your best interests at heart. If you’re ready to start the next chapter, simply call our team on 03 8375 9627 or 0402 182 855.