{"id":27272,"date":"2023-04-05T11:26:05","date_gmt":"2023-04-05T11:26:05","guid":{"rendered":"https:\/\/swoopfunding.com\/au\/?page_id=27272"},"modified":"2026-02-20T11:05:46","modified_gmt":"2026-02-20T11:05:46","slug":"business-refinancing-and-debt-consolidation","status":"publish","type":"page","link":"https:\/\/swoopfunding.com\/au\/business-loans\/business-refinancing-and-debt-consolidation\/","title":{"rendered":"Business refinancing and debt consolidation"},"content":{"rendered":"\t\t<div data-elementor-type=\"wp-page\" data-elementor-id=\"27272\" class=\"elementor elementor-27272\" data-elementor-post-type=\"page\">\n\t\t\t\t<div class=\"elementor-element elementor-element-405b5361 e-flex e-con-boxed e-con e-parent\" data-id=\"405b5361\" data-element_type=\"container\" data-e-type=\"container\" id=\"hero-title\" data-settings=\"{&quot;background_background&quot;:&quot;classic&quot;}\">\n\t\t\t\t\t<div class=\"e-con-inner\">\n\t\t<div class=\"elementor-element elementor-element-5f2547ac e-con-full e-flex e-con e-child\" data-id=\"5f2547ac\" data-element_type=\"container\" data-e-type=\"container\" data-settings=\"{&quot;background_background&quot;:&quot;classic&quot;}\">\n\t\t\t\t<div class=\"elementor-element elementor-element-43eb8ca5 elementor-widget elementor-widget-heading\" data-id=\"43eb8ca5\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<h1 class=\"elementor-heading-title elementor-size-default\">Business refinancing and debt consolidation<\/h1>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-4c943d58 elementor-section-full_width elementor-section-height-default elementor-section-height-default\" data-id=\"4c943d58\" data-element_type=\"section\" data-e-type=\"section\" id=\"product-page\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-d24addf\" data-id=\"d24addf\" data-element_type=\"column\" data-e-type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-3d3d1832 uael-heading-align-left elementor-widget elementor-widget-uael-table-of-contents\" data-id=\"3d3d1832\" data-element_type=\"widget\" data-e-type=\"widget\" id=\"styck-table-of-contents\" data-settings=\"{&quot;scroll_offset&quot;:{&quot;unit&quot;:&quot;px&quot;,&quot;size&quot;:&quot;115&quot;,&quot;sizes&quot;:[]},&quot;sticky&quot;:&quot;top&quot;,&quot;sticky_on&quot;:[&quot;desktop&quot;],&quot;sticky_offset&quot;:&quot;130&quot;,&quot;sticky_parent&quot;:&quot;yes&quot;,&quot;scroll_offset_laptop&quot;:{&quot;unit&quot;:&quot;px&quot;,&quot;size&quot;:&quot;&quot;,&quot;sizes&quot;:[]},&quot;scroll_offset_tablet&quot;:{&quot;unit&quot;:&quot;px&quot;,&quot;size&quot;:&quot;&quot;,&quot;sizes&quot;:[]},&quot;scroll_offset_mobile&quot;:{&quot;unit&quot;:&quot;px&quot;,&quot;size&quot;:&quot;&quot;,&quot;sizes&quot;:[]},&quot;heading_text_align&quot;:&quot;left&quot;,&quot;heading_bottom_space&quot;:{&quot;unit&quot;:&quot;px&quot;,&quot;size&quot;:&quot;&quot;,&quot;sizes&quot;:[]},&quot;heading_bottom_space_laptop&quot;:{&quot;unit&quot;:&quot;px&quot;,&quot;size&quot;:&quot;&quot;,&quot;sizes&quot;:[]},&quot;heading_bottom_space_tablet&quot;:{&quot;unit&quot;:&quot;px&quot;,&quot;size&quot;:&quot;&quot;,&quot;sizes&quot;:[]},&quot;heading_bottom_space_mobile&quot;:{&quot;unit&quot;:&quot;px&quot;,&quot;size&quot;:&quot;&quot;,&quot;sizes&quot;:[]},&quot;separator_bottom_space&quot;:{&quot;unit&quot;:&quot;px&quot;,&quot;size&quot;:&quot;&quot;,&quot;sizes&quot;:[]},&quot;separator_bottom_space_laptop&quot;:{&quot;unit&quot;:&quot;px&quot;,&quot;size&quot;:&quot;&quot;,&quot;sizes&quot;:[]},&quot;separator_bottom_space_tablet&quot;:{&quot;unit&quot;:&quot;px&quot;,&quot;size&quot;:&quot;&quot;,&quot;sizes&quot;:[]},&quot;separator_bottom_space_mobile&quot;:{&quot;unit&quot;:&quot;px&quot;,&quot;size&quot;:&quot;&quot;,&quot;sizes&quot;:[]},&quot;content_between_space&quot;:{&quot;unit&quot;:&quot;px&quot;,&quot;size&quot;:15,&quot;sizes&quot;:[]},&quot;content_between_space_laptop&quot;:{&quot;unit&quot;:&quot;px&quot;,&quot;size&quot;:&quot;&quot;,&quot;sizes&quot;:[]},&quot;content_between_space_tablet&quot;:{&quot;unit&quot;:&quot;px&quot;,&quot;size&quot;:&quot;&quot;,&quot;sizes&quot;:[]},&quot;content_between_space_mobile&quot;:{&quot;unit&quot;:&quot;px&quot;,&quot;size&quot;:&quot;&quot;,&quot;sizes&quot;:[]},&quot;sticky_effects_offset&quot;:0,&quot;sticky_anchor_link_offset&quot;:0}\" data-widget_type=\"uael-table-of-contents.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<div class=\"uael-toc-main-wrapper\" data-headings=\"h2,h3,h4\" >\n\t\t\t<div class=\"uael-toc-wrapper\">\n\t\t\t\t<div class=\"uael-toc-header\">\n\t\t\t\t\t<span class=\"uael-toc-heading elementor-inline-editing\" data-elementor-setting-key=\"heading_title\" data-elementor-inline-editing-toolbar=\"basic\" ><\/span>\n\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t\t\t<div class=\"uael-toc-toggle-content\">\n\t\t\t\t\t<div class=\"uael-toc-content-wrapper\">\n\t\t\t\t\t\t\n\t\t\t\t\t\t\t<ul data-toc-headings=\"headings\" class=\"uael-toc-list uael-toc-list-none\" data-scroll=\"500\" data-scroll-offset=\"115\" ><\/ul>\n\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"uael-toc-empty-note\">\n\t\t\t\t\t<span>Add a header to begin generating the table of contents<\/span>\n\t\t\t\t<\/div>\n\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<section class=\"elementor-section elementor-inner-section elementor-element elementor-element-79cb5fda elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"79cb5fda\" data-element_type=\"section\" data-e-type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-inner-column elementor-element elementor-element-ea755f3\" data-id=\"ea755f3\" data-element_type=\"column\" data-e-type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-012eaf2 elementor-widget elementor-widget-ucaddon_breadcrumbs\" data-id=\"012eaf2\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"ucaddon_breadcrumbs.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\n\n\t\t\t <div id=\"breadcrumbs-container\" class=\"left\">\n <nav aria-label=\"breadcrumbs\" class=\"rank-math-breadcrumb\"><p><\/p><\/nav> <\/div>\n\n\n\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-677e346d elementor-widget elementor-widget-ucaddon_last_updated\" data-id=\"677e346d\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"ucaddon_last_updated.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\n\n\t\t\t\n<div id=\"last-updated-container\" class=\"\">\n\n <script id=\"last-updated-schema\" type=\"application\/ld+json\">\n        {\n          \"@context\": \"https:\/\/schema.org\",\n          \"@type\": \"Article\",\n          \"headline\": \"Business refinancing and debt consolidation\",\n          \n          \"datePublished\": \"2023-04-05T11:26:05+00:00\",\n          \"dateModified\": \"2026-02-20T11:05:46+00:00\",\n          \"author\": [{\n              \"@type\": \"Person\",\n              \"name\": \"Chris Godfrey\",\n              \"url\": \"https:\/\/swoopfunding.com\/au\/author\/chris-godfrey\/\"\n            }]\n        }\n    <\/script>\n \n <div class=\"last-updated view-user\" style=\"justify-content: left;\">\n \n <div class=\"info-left\">\n <a href=\"https:\/\/swoopfunding.com\/au\/author\/chris-godfrey\/\" aria-label=\"Chris Godfrey\">\n <picture loading=\"lazy\" decoding=\"async\" class=\"attachment-large size-large\">\n <img loading=\"lazy\" decoding=\"async\" loading=\"lazy\" src=\"https:\/\/swoopfunding.com\/wp-content\/uploads\/2024\/10\/chris-godfrey-author.webp\" data-lazy-src=\"https:\/\/swoopfunding.com\/wp-content\/uploads\/2024\/10\/chris-godfrey-author.webp?is-pending-load=1\" alt=\"Chris Godfrey\" class=\"jetpack-lazy-image\" loading=\"lazy\" width=\"92\" height=\"92\">\n <\/picture>\n <\/a>\n <\/div>\n \n <div class=\"info-right\">\n <p>Page written by <a href=\"https:\/\/swoopfunding.com\/au\/author\/chris-godfrey\/\">Chris Godfrey<\/a>. <span>Last reviewed on February 20, 2026<\/span>. <span>Next review due July 1, 2027.\n <\/span>\n <\/p>\n\n <\/div>\n\n <\/div>\n<\/div>\n\n<div id=\"externalTooltipContent\" style=\"display: none;\">\n <div class=\"top-info\">\n <img loading=\"lazy\" decoding=\"async\" loading=\"lazy\" src=\"https:\/\/swoopfunding.com\/wp-content\/uploads\/2024\/10\/chris-godfrey-author.webp\" data-lazy-src=\"https:\/\/swoopfunding.com\/wp-content\/uploads\/2024\/10\/chris-godfrey-author.webp?is-pending-load=1\" alt=\"\" class=\"jetpack-lazy-image\" loading=\"lazy\" width=\"92\" height=\"92\">\n <div class=\"text\">\n <div class=\"name-author\">Chris Godfrey<\/div>\n <div class=\"role-user\">Expert financial copywriter<\/div>\n <\/div>\n <\/div>\n <div class=\"description\">Chris is a freelance copywriter and content creator. He has been active in the marketing, advertising, and publishing industries for more than twenty-five years. Writing for Barclays Bank, Metro Bank, Wells Fargo, ABN Amro, Quidco, Legal and General, Inshur Zego, AIG, Met Life, State Farm, Direct Line, insurers and pension funds, his words have appeared online and in print to inform, entertain and explain the complex world of consumer and business finance and insurance.<\/div>\n<\/div>\n\n\n\n\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-94f9066 elementor-widget elementor-widget-ucaddon_aivoov_player\" data-id=\"94f9066\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"ucaddon_aivoov_player.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\n\n\t\t\t<div class=\"aivoov-player-block\">\n\t<div class=\"read_this\">Read this article to me<\/div>\n\t\t\t<style>\n\t\t\t.plyr__controls .plyr__controls__item:first-child{\n\t\t\t\tbackground:#2e9c8e !important;\n\t\t\t}\n\t\t\t:root{\n\t\t\t--plyr-color-main:#2e9c8e;\n\t\t\t--plyr-audio-controls-background:#f0f2f4;\n\t\t\t--plyr-audio-control-color:#546a7b;\n\t\t\t}\n\t\t\t[data-plyr=\"mute\"]{color:#2e9c8e !important}\n\t\t\t.aivoov-text-color{color:#546a7b}\n\t\t<\/style> \n\t\t<div class=\"audio_player\">\n\t\t<audio class=\"js-player\" controls=\"\">\n\t\t\t<source src=\"https:\/\/monky-voice-over.s3.amazonaws.com\/aivoov\/781640cc-7bc1-4bbf-9492-22dedc19678b\/6c3a529b-e05f-4a9c-a3f3-0fea0a101c66.mp3\" type=\"audio\/mp3\">\n\t\t\t<source src=\"https:\/\/monky-voice-over.s3.amazonaws.com\/aivoov\/781640cc-7bc1-4bbf-9492-22dedc19678b\/6c3a529b-e05f-4a9c-a3f3-0fea0a101c66.mp3\" type=\"audio\/ogg\" \/>\n\t\t<\/audio> \n\t\t\t\t <div class=\"powerd_by aivoov-text-color\"><p><a rel=\"nofollow noopener\" target=\"_blank\" href=\"http:\/\/aivoov.com\/?um_source=plugin_powered_by\" style=\"color: inherit;\">Powered by AiVOOV<\/a><\/p><\/div>\n\t\t \n\t\t<\/div>\n\t\t<\/div>\n\n\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-849205b elementor-widget elementor-widget-text-editor\" data-id=\"849205b\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<p><span style=\"font-size: inherit; letter-spacing: inherit;\">Business debt consolidation and refinancing may reduce their monthly payments, give them longer to repay, and even free up cash to meet urgent business needs. How does this work? Read on to find out if consolidating or refinancing your current business loans is right for you.<\/span><\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-787bb99b uael-heading-align-left elementor-widget elementor-widget-uael-table-of-contents\" data-id=\"787bb99b\" data-element_type=\"widget\" data-e-type=\"widget\" id=\"table-of-content-column\" data-settings=\"{&quot;heading_text_align&quot;:&quot;left&quot;,&quot;heading_bottom_space&quot;:{&quot;unit&quot;:&quot;px&quot;,&quot;size&quot;:&quot;&quot;,&quot;sizes&quot;:[]},&quot;heading_bottom_space_laptop&quot;:{&quot;unit&quot;:&quot;px&quot;,&quot;size&quot;:&quot;&quot;,&quot;sizes&quot;:[]},&quot;heading_bottom_space_tablet&quot;:{&quot;unit&quot;:&quot;px&quot;,&quot;size&quot;:&quot;&quot;,&quot;sizes&quot;:[]},&quot;heading_bottom_space_mobile&quot;:{&quot;unit&quot;:&quot;px&quot;,&quot;size&quot;:&quot;&quot;,&quot;sizes&quot;:[]},&quot;separator_bottom_space&quot;:{&quot;unit&quot;:&quot;px&quot;,&quot;size&quot;:&quot;&quot;,&quot;sizes&quot;:[]},&quot;separator_bottom_space_laptop&quot;:{&quot;unit&quot;:&quot;px&quot;,&quot;size&quot;:&quot;&quot;,&quot;sizes&quot;:[]},&quot;separator_bottom_space_tablet&quot;:{&quot;unit&quot;:&quot;px&quot;,&quot;size&quot;:&quot;&quot;,&quot;sizes&quot;:[]},&quot;separator_bottom_space_mobile&quot;:{&quot;unit&quot;:&quot;px&quot;,&quot;size&quot;:&quot;&quot;,&quot;sizes&quot;:[]},&quot;content_between_space&quot;:{&quot;unit&quot;:&quot;px&quot;,&quot;size&quot;:15,&quot;sizes&quot;:[]},&quot;content_between_space_laptop&quot;:{&quot;unit&quot;:&quot;px&quot;,&quot;size&quot;:&quot;&quot;,&quot;sizes&quot;:[]},&quot;content_between_space_tablet&quot;:{&quot;unit&quot;:&quot;px&quot;,&quot;size&quot;:&quot;&quot;,&quot;sizes&quot;:[]},&quot;content_between_space_mobile&quot;:{&quot;unit&quot;:&quot;px&quot;,&quot;size&quot;:&quot;&quot;,&quot;sizes&quot;:[]}}\" data-widget_type=\"uael-table-of-contents.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<div class=\"uael-toc-main-wrapper\" data-headings=\"h2,h3,h4\" >\n\t\t\t<div class=\"uael-toc-wrapper\">\n\t\t\t\t<div class=\"uael-toc-header\">\n\t\t\t\t\t<span class=\"uael-toc-heading elementor-inline-editing\" data-elementor-setting-key=\"heading_title\" data-elementor-inline-editing-toolbar=\"basic\" ><\/span>\n\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t\t\t<div class=\"uael-toc-toggle-content\">\n\t\t\t\t\t<div class=\"uael-toc-content-wrapper\">\n\t\t\t\t\t\t\n\t\t\t\t\t\t\t<ul data-toc-headings=\"headings\" class=\"uael-toc-list uael-toc-list-none\" data-scroll=\"\" ><\/ul>\n\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"uael-toc-empty-note\">\n\t\t\t\t\t<span>Add a header to begin generating the table of contents<\/span>\n\t\t\t\t<\/div>\n\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-7eb9351d question elementor-widget elementor-widget-heading\" data-id=\"7eb9351d\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\">What is debt consolidation?<\/h2>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-2331709a answer elementor-widget elementor-widget-text-editor\" data-id=\"2331709a\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<p><span style=\"font-weight: 400;\">Business debt consolidation means combining multiple loans from multiple lenders into a large, single loan from one provider. The new loan is used to pay off the older loans, and it may be paid back over the same or a longer or shorter time period than the previous agreements.\u00a0<\/span><\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-c29e64a question elementor-widget elementor-widget-heading\" data-id=\"c29e64a\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\">What are the benefits of consolidating business debt?<\/h2>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-3aa76f9a answer elementor-widget elementor-widget-text-editor\" data-id=\"3aa76f9a\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<p><span style=\"font-weight: 400;\">Business debt consolidation may deliver multiple benefits:<\/span><\/p><ul><li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Save time and administration costs by only dealing with one lender instead of many.<\/span><\/li><li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">You may be able to spread the payments out over a longer period than you had with the older loans. This may reduce the monthly cost, which could help your cashflow.<\/span><\/li><li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">You may be able to borrow more than the value of the combined loans and use that cash for other business needs, such as tax demands, energy bills, business rates, or supplier invoices.<\/span><\/li><li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">You may be able to reduce the interest rate and any extra fees. This may also reduce the monthly cost.<\/span><\/li><li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">You only have to factor one monthly payment into your cashflow.<\/span><\/li><li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">You may be able to set the repayment date for a time that works best for you (such as when your customers usually pay you).<\/span><\/li><\/ul><p><b>Top tip:<\/b><span style=\"font-weight: 400;\">\u00a0check to see if you must pay early repayment penalties on the old loans, and what fees the new lender may charge before you commit to debt consolidation. Also, remember that if you take out a loan for a longer period, even if the interest rate is lower than before, you may still end up paying more overall.\u00a0<\/span><\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-53b8260 question elementor-widget elementor-widget-heading\" data-id=\"53b8260\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\">What is business refinancing?<\/h2>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-459d3ce7 answer elementor-widget elementor-widget-text-editor\" data-id=\"459d3ce7\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<p><span style=\"font-weight: 400;\">Business refinancing is much like debt consolidation, except instead of taking out a new loan to pay off multiple loans, you only take out one new loan to refinance one old loan at a time.\u00a0<\/span><\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-696cd9c question elementor-widget elementor-widget-heading\" data-id=\"696cd9c\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\">What is the purpose of refinancing?<\/h2>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-7cebd31 answer elementor-widget elementor-widget-text-editor\" data-id=\"7cebd31\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<p><span style=\"font-weight: 400;\">The purpose of refinancing is to replace an existing loan with a new one under different terms that are typically more favourable to you. This often involves securing a lower <a class=\"waffle-rich-text-link\" href=\"https:\/\/swoopfunding.com\/au\/business-glossary\/interest-rate\/\">interest rate<\/a>, which can reduce monthly payments and the overall cost of the loan. <\/span><\/p><p><span style=\"font-weight: 400;\">You might also refinance to change the duration of the loan, either extending it to lower monthly payments or shortening it to pay off the loan faster. Additionally, refinancing can be used to switch from a variable-rate to a fixed-rate loan for more predictable payments. <\/span><\/p><p><span style=\"font-weight: 400;\">Some borrowers refinance to access the equity in their property for major expenses or to merge higher-interest debt into a single, more manageable payment.\u00a0<\/span><\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-1ff67de question elementor-widget elementor-widget-heading\" data-id=\"1ff67de\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\">When should I refinance?<\/h2>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-9109d71 answer elementor-widget elementor-widget-text-editor\" data-id=\"9109d71\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<p>Determining the right time to refinance depends on various factors related to your financial situation and goals. It&#8217;s important to assess the current interest rates compared to the rate on your existing loan. If current rates are a lot lower than what you&#8217;re paying, refinancing could potentially lower your monthly payments and save you money over the long term.<\/p><p>Additionally, if you have a property, consider your plans for staying in the property. If you&#8217;re planning on staying for several more years, you may have more time to recoup the costs related to refinancing. However, if you plan to sell or move in the near future, refinancing might not be as beneficial.<\/p><p>Evaluate any potential fees related to refinancing and calculate the <a class=\"waffle-rich-text-link\" href=\"https:\/\/swoopfunding.com\/au\/business-loan-calculator\/break-even-calculator\/\">break-even point<\/a> to determine if the savings outweigh the costs. Ultimately, the decision to refinance should align with your financial goals and the specific terms and conditions available to you.<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-1d1ea685 question elementor-widget elementor-widget-heading\" data-id=\"1d1ea685\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\">What are the benefits of business refinancing?<\/h2>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-347c7927 answer elementor-widget elementor-widget-text-editor\" data-id=\"347c7927\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<p><span style=\"font-weight: 400;\">The benefits of business refinancing are much like business debt consolidation:<\/span><\/p><ul><li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">You may be able to spread the payments over a longer period than the old loan.<\/span><\/li><li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">You may be able to reduce the monthly cost, and\/or the total amount you pay.<\/span><\/li><li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">You may be able to borrow more than the value of the old loan and use that cash for other business needs.<\/span><\/li><li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">You may be able to reduce the interest rate and any extra fees.<\/span><\/li><li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">You may be able to set the repayment date for a time that works best for you.<\/span><\/li><\/ul>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-fa542ed question elementor-widget elementor-widget-heading\" data-id=\"fa542ed\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\">What are the options for refinancing?<\/h2>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-655296f answer elementor-widget elementor-widget-text-editor\" data-id=\"655296f\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<p><span style=\"font-weight: 400;\">Refinancing means swapping one loan for another. Depending on the type of loan you are trying to refinance, and the purpose of the loan, there are several options to refinance your current business loans.<\/span><\/p><p><span style=\"font-weight: 400;\">Popular refinancing loan solutions include:<\/span><\/p><ul><li><a href=\"https:\/\/swoopfunding.com\/au\/business-loans\/\"><b>Business loans:<\/b><\/a><span style=\"font-weight: 400;\"><span style=\"font-weight: 400;\"> work like regular bank loans. Take out as new funding or to refinance existing debt.<\/span><\/span><\/li><li><a href=\"https:\/\/swoopfunding.com\/au\/business-loans\/revolving-credit-facility\/\"><b>Revolving credit facilities:<\/b><\/a><span style=\"font-weight: 400;\"><span style=\"font-weight: 400;\"> an agreed credit pot that businesses may dip into as and when funds are needed. Pay off existing debt, cover general business expenses.<\/span><\/span><\/li><li><a href=\"https:\/\/swoopfunding.com\/au\/business-loans\/asset-finance\/\"><b>Asset finance and refinance:<\/b><\/a><span style=\"font-weight: 400;\"><span style=\"font-weight: 400;\"> pays for plant and machinery, including commercial vehicles. Refinance your current equipment loans, or free up the sunk capital in hard assets that your business already owns to gain ready cash.<\/span><\/span><\/li><li><a href=\"https:\/\/swoopfunding.com\/au\/commercial-mortgage\/\"><b>Commercial mortgages:<\/b><\/a><span style=\"font-weight: 400;\"> depending on the loan-to-value of the property, (LTV), borrow against your business premises. Refinance your current business mortgage or use the funds to pay back more expensive short-term debt.<\/span><\/li><\/ul><p><span style=\"font-weight: 400;\">These loans may be offered on a secured or unsecured basis. (See below).<\/span><\/p><p><b>Secured loans<\/b><\/p><p><span style=\"font-weight: 400;\"><a href=\"https:\/\/swoopfunding.com\/au\/business-loans\/secured-business-loans\/\">Secured loans<\/a> require the borrower to provide collateral (security) to protect the lender from potential loss. Collateral is usually hard assets, such as property or machinery, but it may also include inventory, the value of unpaid invoices, and certain soft assets, such as patents and copyrights.<\/span><\/p><p><span style=\"font-weight: 400;\">If the borrower defaults on the loan, the lender may choose to exercise their lien on the collateral and sell the assets to recover the funds they have lent.\u00a0<\/span><\/p><p><b>Unsecured loans<\/b><\/p><p><span style=\"font-weight: 400;\">Unsecured loans require no collateral, but they usually come with higher interest rates and fees. They many also offer a lower loan amount than a secured loan will bring. The borrower\u2019s credit rating is more important with unsecured loans and a good credit score is usually required.<\/span><\/p><p><b>Top tip:<\/b><span style=\"font-weight: 400;\"> don\u2019t get caught out by an error on your credit report, always check your <\/span><a href=\"https:\/\/swoopfunding.com\/uk\/business-credit-scores\/\"><span style=\"font-weight: 400;\">business<\/span><\/a><span style=\"font-weight: 400;\"> and personal credit scores before you apply for loan refinancing (secured or unsecured).<\/span><\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-45141e4 question elementor-widget elementor-widget-heading\" data-id=\"45141e4\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\">Refinance calculator<\/h2>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-d776174 answer elementor-widget elementor-widget-text-editor\" data-id=\"d776174\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<p>Not sure whether you should refinance? With our\u00a0refinance calculator\u00a0you can estimate the savings and costs associated with refinancing.<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-e9282b9 elementor-widget elementor-widget-ucaddon_refinance_calculator\" data-id=\"e9282b9\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"ucaddon_refinance_calculator.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\n\n\t\t\t\n\n<div class=\"form-calculator\" >\n <div class=\"left_column\">\n <h4>Current loan<\/h4>\n <div class=\"form-group\">\n <label for=\"remainingBalance\">Remaining balance<\/label>\n <div class=\"input-group mb-4\">\n <div class=\"input-group-prepend\">\n <span class=\"input-group-text\">$<\/span>\n <\/div>\n <input type=\"text\" class=\"form-control mask-money\" id=\"remainingBalance\" value=\"250000\">\n <div class=\"input-group-append\">\n <span class=\"input-group-text\">.00<\/span>\n <\/div>\n <\/div>\n <\/div>\n <h4>New loan<\/h4>\n <div class=\"form-group\">\n <div class=\"label_and_numbers\">\n <label for=\"newLoanTerm\">New loan term<\/label>\n <div class=\"tag-number\">\n <output id=\"newLoanTermOutput\">20<\/output> years <\/div>\n <\/div>\n <input type=\"range\" class=\"slider\" id=\"newLoanTerm\" min=\"5\" max=\"30\" step=\"5\" value=\"20\">\n <\/div>\n <div class=\"form-group\">\n <div class=\"label_and_numbers\">\n <label for=\"interestRate\">Interest rate<\/label>\n <div class=\"tag-number\">\n <output id=\"interestRateOutput\">5<\/output>%\n <\/div>\n <\/div>\n <input type=\"range\" class=\"slider\" id=\"interestRate\" min=\"0.1\" max=\"10\" step=\"0.1\" value=\"5\">\n <\/div>\n\n <p class=\"note-calculator\">This calculator is intended for illustration purposes only and exact payment terms should be agreed with a lender before taking out a loan.<\/p>\n <\/div>\n <div class=\"right_column\">\n <h4>Your results<\/h4>\n \n <p class=\"title-result\">Principal\/loan amount<\/p>\n <p class=\"number-result\">$<span id=\"principal\">0<\/span><\/p>\n \n <p class=\"title-result\">Monthly payment<\/p>\n <p class=\"number-result\">$<span id=\"monthlyPayment\">0<\/span><\/p>\n\n <p class=\"title-result\">Weekly payment<\/p>\n <p class=\"number-result\">$<span id=\"weeklyPayment\">0<\/span><\/p>\n \n <p class=\"title-result\">Daily payment<\/p>\n <p class=\"number-result\">$<span id=\"dailyPayment\">0<\/span><\/p>\n\n <p class=\"title-result\">Length<\/p>\n <p class=\"number-result\"><span id=\"length\">0<\/span> months<\/p>\n\n <p class=\"title-result\">Total monthly payments<\/p>\n <p class=\"number-result\">$<span id=\"totalMonthlyPayments\">0<\/span><\/p>\n \n <p class=\"title-result\">Total interest<\/p>\n <p class=\"number-result\">$<span id=\"totalInterest\">0<\/span><\/p>\n \n <a href=\"https:\/\/app.swoopfunding.com.au\/stage\/\" class=\"btn btn-lg btn-dark btn-block\" target=\"_blank\">Borrow $<span id=\"resultCTA\"><\/span><\/a>\n <\/div>\n<\/div>\n\n\n\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-94de631 question elementor-widget elementor-widget-heading\" data-id=\"94de631\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\">Does refinancing hurt my credit?<\/h2>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-a3faac3 answer elementor-widget elementor-widget-text-editor\" data-id=\"a3faac3\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<p>Refinancing can have an impact on your credit score, but the effects are usually temporary. When you apply for refinancing, the lender will conduct a hard inquiry on your credit report, which may cause a slight drop in your score.<\/p><p>Additionally, opening a new credit account can affect your average account age, potentially <a class=\"waffle-rich-text-link\" href=\"https:\/\/swoopfunding.com\/au\/support-for-small-businesses\/why-did-my-credit-score-drop\/\">lowering your score<\/a> further. However, if you manage the new loan responsibly by making timely payments, your credit score can recover and potentially improve over time.<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-a4f7354 question elementor-widget elementor-widget-heading\" data-id=\"a4f7354\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\">What's the difference between loan modification and refinancing?<\/h2>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-14881f4 answer elementor-widget elementor-widget-text-editor\" data-id=\"14881f4\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<p>The difference between loan modification and refinancing lies in how they alter the terms of your loan and the circumstances under which they are used. Loan modification involves making changes to the terms of your existing loan, often due to financial hardship. This process can include reducing the interest rate, extending the loan term, or changing the loan type to make the monthly payments more affordable. It is typically a strategy that provide immediate financial relief to the borrower.<\/p><p>Refinancing, on the other hand, involves taking out a new loan to replace the current one. This is usually done to secure better terms, such as a lower interest rate, a shorter or longer loan duration, or switching from a variable-rate to a fixed-rate mortgage. Unlike loan modification, refinancing is generally used to improve long-term financial conditions rather than as an immediate solution to financial distress.<\/p><p>Both processes aim to make the loan more manageable, but they cater to different needs and situations.<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-8ae814c question elementor-widget elementor-widget-heading\" data-id=\"8ae814c\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\">Other ways to relieve business debt<\/h2>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-4786d2ed answer elementor-widget elementor-widget-text-editor\" data-id=\"4786d2ed\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<p><span style=\"font-weight: 400;\">If consolidating or refinancing your current loans is not sufficient to help your business, there are other options to relieve business debts that you may wish to consider:<\/span><\/p><ul><li><a href=\"https:\/\/swoopfunding.com\/au\/equity\/\"><b>Equity finance:<\/b><\/a><span style=\"font-weight: 400;\"><span style=\"font-weight: 400;\"> secure the cash you need by selling some of your business ownership to a new investor. This route may be particularly useful for SMEs that own unique technology or own valuable patents or copyrights, as these assets are highly attractive to new investors.<\/span><\/span><\/li><li><a href=\"https:\/\/swoopfunding.com\/au\/grants\/\"><b>Business grants:<\/b><\/a> u<span style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">nlike loans, business grants do not need to be paid back. Available from central government, councils, universities, non-profits and private sector groups, grants are usually provided to help businesses in specific regions, for a key reason, such as urban regeneration, or to help companies in innovative industries.<\/span><\/span><\/li><li><b>Restructure your business:<\/b><span style=\"font-weight: 400;\"><span style=\"font-weight: 400;\"> sell business assets, close down under-performing business units, or merge with another company to spread your debt load.<\/span><\/span><\/li><li><b>Crowdfunding:<\/b><span style=\"font-weight: 400;\"> Rrise cash for your business via many small donations from a large number of people, typically by the internet. Funds raised are not a loan and do not need to be repaid as long as you use them for the purposes described in your presentation.<\/span><\/li><\/ul>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-488e73d1 question elementor-widget elementor-widget-heading\" data-id=\"488e73d1\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\">Find your options with Swoop<\/h2>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-20bd8979 answer elementor-widget elementor-widget-text-editor\" data-id=\"20bd8979\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<p><span style=\"font-weight: 400;\">Consolidating or refinancing business debt can be complicated and may take longer than many businesses can wait. Don\u2019t waste time going from lender to lender. Working with a broker who can quickly provide many different funding options is a better way to go. <a href=\"https:\/\/app.swoopfunding.com.au\/stage\">Register with Swoop<\/a> to discover all your consolidation and refinancing options. Reshape your debts. Give your business a new lease of life.<\/span><\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-71426f10 elementor-widget elementor-widget-spacer\" data-id=\"71426f10\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"spacer.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<div class=\"elementor-spacer\">\n\t\t\t<div class=\"elementor-spacer-inner\"><\/div>\n\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-9f5a6bb elementor-widget elementor-widget-ucaddon_author_page\" data-id=\"9f5a6bb\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"ucaddon_author_page.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\n\n\t\t\t\n\n\n <div class=\"info-user-post\">\n \n <div class=\"left-info\">\n <a href=\"https:\/\/swoopfunding.com\/au\/author\/chris-godfrey\/\" aria-label=\"Chris Godfrey\">\n <picture loading=\"lazy\" decoding=\"async\" class=\"attachment-large size-large\">\n <img loading=\"lazy\" decoding=\"async\" loading=\"lazy\" src=\"https:\/\/swoopfunding.com\/wp-content\/uploads\/2024\/10\/chris-godfrey-author.webp\" data-lazy-src=\"https:\/\/swoopfunding.com\/wp-content\/uploads\/2024\/10\/chris-godfrey-author.webp?is-pending-load=1\" alt=\"\" class=\"jetpack-lazy-image\" loading=\"lazy\" width=\"92\" height=\"92\">\n <\/picture>\n <\/a>\n <\/div>\n \n <div class=\"right-info\">\n <div class=\"inner-top\">\n <div class=\"info-top\">\n <div class=\"info-title\">\n <p>Written by<\/p>\n <p class=\"name-author\"><a href=\"https:\/\/swoopfunding.com\/au\/author\/chris-godfrey\/\">Chris Godfrey<\/a><\/h3>\n <\/div>\n <\/div>\n \n \n <\/div>\n <div class=\"info-bottom\">\n <p>Chris is a freelance copywriter and content creator. He has been active in the marketing, advertising, and publishing industries for more than twenty-five years. Writing for Barclays Bank, Metro Bank, Wells Fargo, ABN Amro, Quidco, Legal and General, Inshur Zego, AIG, Met Life, State Farm, Direct Line, insurers and pension funds, his words have appeared online and in print to inform, entertain and explain the complex world of consumer and business finance and insurance.<\/p>\n <\/div>\n\n <ul class=\"social-links\">\n <li><a href=\"https:\/\/www.linkedin.com\/in\/christopher-godfrey-332198139\/\" target=\"_blank\" rel=\"noreferrer noopener\" aria-label=\"Linkedin\">\n <img loading=\"lazy\" decoding=\"async\" loading=\"lazy\" src=\"https:\/\/swoopfunding.com\/au\/wp-content\/themes\/swoopMW50\/assets\/icons\/icon-linkedin-min.svg\" width=\"30\" height=\"30\" alt=\"Linkedin\">\n <\/a><\/li>\n \n \n <li><a href=\"https:\/\/www.freelancewords.co.uk\" target=\"_blank\" rel=\"noreferrer noopener nofollow\" aria-label=\"Website\">\n <img loading=\"lazy\" decoding=\"async\" loading=\"lazy\" src=\"https:\/\/swoopfunding.com\/au\/wp-content\/themes\/swoopMW50\/assets\/icons\/icon-site-min.svg\" width=\"30\" height=\"30\" alt=\"Website\">\n <\/a><\/li>\n <\/ul>\n\n <div class=\"swoop-promise\">\n <p><strong>Swoop promise<\/strong><\/p>\n <p>At Swoop we want to make it easy for SMEs to understand the sometimes overwhelming world of business finance and insurance. Our goal is simple \u2013 to distill complex topics, unravel jargon, offer transparent and impartial information, and empower businesses to make smart financial decisions with confidence.<\/p>\n <p>Find out more about Swoop\u2019s editorial principles by reading our <a href=\"https:\/\/swoopfunding.com\/au\/about-swoop\/editorial-policy\/\">editorial policy<\/a>.<\/p>\n <\/div>\n\n <\/div>\n <\/div>\n\n \n\n\n\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t<div class=\"elementor-element elementor-element-79e2077 e-flex e-con-boxed e-con e-parent\" data-id=\"79e2077\" data-element_type=\"container\" data-e-type=\"container\">\n\t\t\t\t\t<div class=\"e-con-inner\">\n\t\t<div class=\"elementor-element elementor-element-46bec41 e-con-full e-flex e-con e-child\" data-id=\"46bec41\" data-element_type=\"container\" data-e-type=\"container\" data-settings=\"{&quot;background_background&quot;:&quot;classic&quot;}\">\n\t\t\t\t<div class=\"elementor-element elementor-element-28c4a22 elementor-widget__width-auto elementor-hidden-mobile elementor-widget elementor-widget-image\" data-id=\"28c4a22\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"image.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<img decoding=\"async\" loading=\"lazy\" src=\"https:\/\/swoopfunding.com\/wp-content\/uploads\/sites\/4\/2022\/08\/icon-swoop.svg\" title=\"\" alt=\"\" loading=\"lazy\" \/>\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t<div class=\"elementor-element elementor-element-9e8751f e-con-full e-flex e-con e-child\" data-id=\"9e8751f\" data-element_type=\"container\" data-e-type=\"container\">\n\t\t\t\t<div class=\"elementor-element elementor-element-e9c9af0 elementor-widget elementor-widget-heading\" data-id=\"e9c9af0\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<p class=\"elementor-heading-title elementor-size-default\">Create your free Swoop account to easily apply for<\/p>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-100e7fa elementor-widget__width-auto bt-form-45 elementor-mobile-align-center elementor-widget-mobile__width-inherit elementor-widget elementor-widget-button\" data-id=\"100e7fa\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"button.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<div class=\"elementor-button-wrapper\">\n\t\t\t\t\t<a class=\"elementor-button elementor-button-link elementor-size-sm\" href=\"https:\/\/app.swoopfunding.com.au\/stage\" target=\"_blank\">\n\t\t\t\t\t\t<span class=\"elementor-button-content-wrapper\">\n\t\t\t\t\t\t\t\t\t<span class=\"elementor-button-text\">Join Swoop<\/span>\n\t\t\t\t\t<\/span>\n\t\t\t\t\t<\/a>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t<div class=\"elementor-element elementor-element-9ab98be e-flex e-con-boxed e-con e-parent\" data-id=\"9ab98be\" data-element_type=\"container\" data-e-type=\"container\">\n\t\t\t\t\t<div class=\"e-con-inner\">\n\t\t\t\t<div class=\"elementor-element elementor-element-0e1e872 elementor-widget elementor-widget-ucaddon_auto_page_related\" data-id=\"0e1e872\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"ucaddon_auto_page_related.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\n\n\t\t\t\n\n\n\n <div class=\"container-auto-page-related\">\n <p class=\"title-related text-center\">Related pages<\/p>\n <div class=\"auto-page-related\">\n <ul>\n <li >\n <a href=\"https:\/\/swoopfunding.com\/au\/business-loans\/asset-finance\/aircraft-financing\/\">Aircraft financing <\/a>\n <\/li>\n <li >\n <a href=\"https:\/\/swoopfunding.com\/au\/business-loans\/asset-finance\/\">Asset finance <\/a>\n <\/li>\n <li >\n <a href=\"https:\/\/swoopfunding.com\/au\/knowledge-hub\/asset-finance\/\">Asset finance <\/a>\n <\/li>\n <li >\n <a href=\"https:\/\/swoopfunding.com\/au\/business-loan-calculator\/asset-finance-calculator\/\">Asset finance calculator <\/a>\n <\/li>\n <li >\n <a href=\"https:\/\/swoopfunding.com\/au\/asset-finance-explained\/\">Asset finance explained <\/a>\n <\/li>\n <li >\n <a href=\"https:\/\/swoopfunding.com\/au\/business-loans\/asset-finance\/asset-based-lending\/\">Asset-based lending <\/a>\n <\/li>\n <li >\n <a href=\"https:\/\/swoopfunding.com\/au\/business-loans\/asset-finance\/audio-visual-equipment-financing\/\">Audio visual equipment financing <\/a>\n <\/li>\n <li >\n <a href=\"https:\/\/swoopfunding.com\/au\/business-loans\/asset-finance\/bakery-equipment-financing\/\">Bakery equipment financing <\/a>\n <\/li>\n <li >\n <a href=\"https:\/\/swoopfunding.com\/au\/business-loans\/asset-finance\/boat-financing\/\">Boat financing <\/a>\n <\/li>\n <li >\n <a href=\"https:\/\/swoopfunding.com\/au\/business-loans\/asset-finance\/bobcat-financing\/\">Bobcat financing <\/a>\n <\/li>\n <li >\n <a href=\"https:\/\/swoopfunding.com\/au\/business-loans\/asset-finance\/business-car-finance\/\">Business car finance <\/a>\n <\/li>\n <li >\n <a href=\"https:\/\/swoopfunding.com\/au\/business-loans\/asset-finance\/business-van-finance\/\">Business van finance <\/a>\n <\/li>\n <li >\n <a href=\"https:\/\/swoopfunding.com\/au\/business-loans\/asset-finance\/cleaning-equipment-finance\/\">Cleaning equipment finance <\/a>\n <\/li>\n <li >\n <a href=\"https:\/\/swoopfunding.com\/au\/business-loans\/asset-finance\/equipment-leasing\/commercial-equipment-leasing\/\">Commercial 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href=\"https:\/\/swoopfunding.com\/au\/business-loans\/asset-finance\/finance-lease-vs-operating-lease\">Finance lease vs. operating lease \u2013 what\u2019s the difference? <\/a>\n <\/li>\n <li class=\"hidden_li offscreen\">\n <a href=\"https:\/\/swoopfunding.com\/au\/business-loans\/asset-finance\/finance-lease\/\">Finance leasing explained &#8211; what is it? <\/a>\n <\/li>\n <li class=\"hidden_li offscreen\">\n <a href=\"https:\/\/swoopfunding.com\/au\/business-loans\/asset-finance\/forklift-finance\/\">Forklift financing <\/a>\n <\/li>\n <li class=\"hidden_li offscreen\">\n <a href=\"https:\/\/swoopfunding.com\/au\/business-loans\/asset-finance\/garage-equipment-finance\/\">Garage equipment finance <\/a>\n <\/li>\n <li class=\"hidden_li offscreen\">\n <a href=\"https:\/\/swoopfunding.com\/au\/business-loans\/asset-finance\/gym-equipment-finance\/\">Gym equipment finance <\/a>\n <\/li>\n <li class=\"hidden_li offscreen\">\n <a 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href=\"https:\/\/swoopfunding.com\/au\/business-loans\/asset-finance\/material-handling-equipment-finance\/\">Material handling equipment financing <\/a>\n <\/li>\n <li class=\"hidden_li offscreen\">\n <a href=\"https:\/\/swoopfunding.com\/au\/business-loans\/asset-finance\/equipment-financing\/medical-equipment-finance\/\">Medical equipment finance <\/a>\n <\/li>\n <li class=\"hidden_li offscreen\">\n <a href=\"https:\/\/swoopfunding.com\/au\/business-loans\/asset-finance\/operating-lease\/\">Operating leases explained: What are they? 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href=\"https:\/\/swoopfunding.com\/au\/blog\/why-do-you-need-to-know-about-asset-finance-in-2023\/\">Why do you need to know about asset finance in 2023? <\/a>\n <\/li>\n <\/ul>\n <div class=\"container_bt\">\n <button class=\"bt_see_more\" href=\"javascript:void(0);\" aria-label=\"See more\">See more<\/button>\n <\/div>\n <div id=\"grey-out\"><\/div>\n <\/div>\n <\/div>\n\n\n\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t<div class=\"elementor-element elementor-element-b73a5a4 e-con-full e-flex e-con e-parent\" data-id=\"b73a5a4\" data-element_type=\"container\" data-e-type=\"container\">\n\t\t\t\t<div class=\"elementor-element elementor-element-43479a6 elementor-widget elementor-widget-template\" data-id=\"43479a6\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"template.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<div class=\"elementor-template\">\n\t\t\t\t\t<div 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elementor-widget elementor-widget-heading\" data-id=\"2317956\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<p class=\"elementor-heading-title elementor-size-default\">Ready to grow your business?<\/p>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-16c054b elementor-align-center elementor-widget elementor-widget-button\" data-id=\"16c054b\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"button.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<div class=\"elementor-button-wrapper\">\n\t\t\t\t\t<a class=\"elementor-button elementor-button-link elementor-size-md\" href=\"https:\/\/app.swoopfunding.com.au\/stage\" target=\"_blank\">\n\t\t\t\t\t\t<span class=\"elementor-button-content-wrapper\">\n\t\t\t\t\t\t\t\t\t<span class=\"elementor-button-text\">Get 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Last reviewed on October 17, 2024. Next review due July 1, 2027. Chris Godfrey Expert financial copywriter Chris is a freelance copywriter and content creator. He has been active in the marketing, advertising, and publishing [&hellip;]<\/p>\n","protected":false},"author":26,"featured_media":0,"parent":25828,"menu_order":0,"comment_status":"closed","ping_status":"closed","template":"elementor_header_footer","meta":{"_acf_changed":false,"inline_featured_image":false,"footnotes":""},"class_list":["post-27272","page","type-page","status-publish","hentry"],"acf":[],"featured_image_urls_v2":{"full":"","thumbnail":"","medium":"","medium_large":"","large":"","1536x1536":"","2048x2048":"","image_blog":"","image_blog_full":"","image_podcast":"","image_banking":"","image_blog_internal":"","image_blog_medium":"","image_single_banking":""},"post_excerpt_stackable_v2":"<p>Business refinancing and debt consolidation Add a header to begin generating the table of contents Page written by Chris Godfrey. Last reviewed on February 20, 2026. Next review due July 1, 2027. Chris Godfrey Expert financial copywriter Chris is a freelance copywriter and content creator. He has been active in the marketing, advertising, and publishing industries for more than twenty-five years. Writing for Barclays Bank, Metro Bank, Wells Fargo, ABN Amro, Quidco, Legal and General, Inshur Zego, AIG, Met Life, State Farm, Direct Line, insurers and pension funds, his words have appeared online and in print to inform, entertain and&hellip;<\/p>\n","category_list_v2":"","author_info_v2":{"name":"Chris Godfrey","url":"https:\/\/swoopfunding.com\/au\/author\/chris-godfrey\/"},"comments_num_v2":"0 comments","_links":{"self":[{"href":"https:\/\/swoopfunding.com\/au\/wp-json\/wp\/v2\/pages\/27272","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/swoopfunding.com\/au\/wp-json\/wp\/v2\/pages"}],"about":[{"href":"https:\/\/swoopfunding.com\/au\/wp-json\/wp\/v2\/types\/page"}],"author":[{"embeddable":true,"href":"https:\/\/swoopfunding.com\/au\/wp-json\/wp\/v2\/users\/26"}],"replies":[{"embeddable":true,"href":"https:\/\/swoopfunding.com\/au\/wp-json\/wp\/v2\/comments?post=27272"}],"version-history":[{"count":28,"href":"https:\/\/swoopfunding.com\/au\/wp-json\/wp\/v2\/pages\/27272\/revisions"}],"predecessor-version":[{"id":40561,"href":"https:\/\/swoopfunding.com\/au\/wp-json\/wp\/v2\/pages\/27272\/revisions\/40561"}],"up":[{"embeddable":true,"href":"https:\/\/swoopfunding.com\/au\/wp-json\/wp\/v2\/pages\/25828"}],"wp:attachment":[{"href":"https:\/\/swoopfunding.com\/au\/wp-json\/wp\/v2\/media?parent=27272"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}