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Transfer Your Loan? Apply For Your Business Loan!

Are you thinking about taking over your loan? This means that you take out a loan with a provider other than the party where you currently have a loan. Note that when you do this you must take into account a number of important points. We are happy to explain it to you.

What does reshaping mean?

It is possible that you are not satisfied with the current party where you take out a loan and your eye falls on a party where it is better arranged. If this is the case then it may be a good idea to take out your loan. Relocating a loan can sometimes turn out to be positive for your company. The new party then repays the current loan in full for you and you can take advantage of the conditions of your new financing party. Consider, for example, a lower interest rate and a shorter loan term.

Is rerouting always the cheapest solution?

Before you proceed with the transfer of a loan, it is always important that you read the terms and conditions carefully. Your old provider can charge a penalty interest of up to 1%. As a result, re-lending a business loan is not always the cheapest solution, even though the interest rate at the other party is still so attractive. Always check this well in advance.

Find the suitable party

To find a party that does meet your wishes and requirements, we recommend that you use our handy comparison tool. We have developed a tool with which you can easily and quickly compare various parties. CB Credit itself is an independent party that only sets out the facts and conditions. So we do not choose a party and only show you what you can choose from. You can use the tool completely free of charge. Do you see a party that suits you? For more information you will be redirected to the website of the provider in question.

How does resizing work?

If you want to transfer your loan to another provider, it is important that the new financing party knows everything about your current situation. It is often the case that you have to fill in an application form online to transfer your loan. After this, the new party will check whether you are eligible for taking out a loan. If they agree, you can repay the new loan with the new conditions. So make sure that in some cases you get a penalty interest. For example, rescheduling a loan may seem much cheaper, but if you have to pay a fine, it may turn out to be detrimental to you. So always carefully read all the terms and conditions of your current loan before you make a decision and have your loan transferred to another party. A financial adviser can help you with this.

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