{"id":3834,"date":"2015-08-27T21:21:32","date_gmt":"2015-08-27T21:21:32","guid":{"rendered":"https:\/\/www.arffinancial.com\/development\/?p=3834"},"modified":"2021-07-13T17:14:56","modified_gmt":"2021-07-13T21:14:56","slug":"pros-cons-refinancing-business-debt","status":"publish","type":"post","link":"https:\/\/www.arffinancial.com\/development\/pros-cons-refinancing-business-debt\/","title":{"rendered":"The Pros and Cons of Refinancing Your Business Debt"},"content":{"rendered":"<p>Are you thinking about refinancing your business debt? Perhaps you borrowed money when your credit score was low, during the recession or through a cash advance company because you were in a rush to receive the funds. Now it&#8217;s time to begin looking for a better lending option to\u00a0obtain a more favorable fixed interest rate and save yourself some money.<\/p>\n<p><a href=\"https:\/\/www.arffinancial.com\/development\/wp-content\/uploads\/2015\/08\/small-business-owner-refinancing1.jpg\"><img class=\"alignnone size-full wp-image-3849\" src=\"https:\/\/www.arffinancial.com\/development\/wp-content\/uploads\/2015\/08\/small-business-owner-refinancing1.jpg\" alt=\"small-business-owner-refinancing\" \/><\/a><\/p>\n<h2>What are the Pros and Cons of Refinancing Business Debt?<\/h2>\n<p>Before you make any decision about whether refinancing business debt would be suitable, it is advisable to look carefully at the pros and cons.<\/p>\n<p><strong>The Pros:<\/strong><\/p>\n<ul>\n<li>You can reduce the amount of interest that you are paying<\/li>\n<li>You can change the repayment term\u00a0compared to your existing debt<\/li>\n<li>You can consolidate a number of existing debts into one which is easier to manage<\/li>\n<li>You may\u00a0improve your cash flow<\/li>\n<li>You can improve your business\u2019s reputation with creditors and reinforce relationships with suppliers<\/li>\n<li>You may be able to reduce your monthly payments<\/li>\n<\/ul>\n<p><strong>The Cons:<\/strong><\/p>\n<ul>\n<li>You may have to pay early repayment fees or penalties when paying off existing debt<\/li>\n<li>You may not be able to find better interest rates<\/li>\n<\/ul>\n<h2>Refinancing Success<\/h2>\n<p><a href=\"https:\/\/www.arffinancial.com\/development\/wp-content\/uploads\/2015\/08\/small-business-owner-refinancing-success-story.jpg\"><img class=\"alignnone size-full wp-image-3851\" src=\"https:\/\/www.arffinancial.com\/development\/wp-content\/uploads\/2015\/08\/small-business-owner-refinancing-success-story.jpg\" alt=\"small business success story\" \/><\/a><\/p>\n<p>Recently a merchant took out a cash advance that carried a 6-month term. Due to the short time frame for repayment, the advance was hurting\u00a0his monthly cash flow. The merchant chose to pay off his cash advance with a loan from ARF Financial which came with an 18-month term. Extending the term, combined with ARF&#8217;s\u00a0lower interest rates, allowed the merchant to significantly reduce his monthly payments resulting in substantial\u00a0savings.<\/p>\n<h2>Loan Options \/ Connecting with a Loan Consultant<\/h2>\n<p>Here at ARF Financial we have a team of seasoned loan consultants who can speak with you about your refinancing options. You can <a style=\"color: #02649c;\" href=\"https:\/\/www.arffinancial.com\/development\/company\/loan-consulting-team\/?utm_source=blog&amp;utm_medium=blogpost&amp;utm_campaign=loanconsultant\">connect with a consultant in your local area<\/a> using our finder &#8211; the consultation is completely free! You can also fill out our <a style=\"color: #02649c;\" href=\"https:\/\/arffinancial.force.com\/portal\/ARFRegistration?URLSource=Web\" class=\"broken_link\">form<\/a> to receive\u00a0information on your available options including rates and terms.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Are you thinking about refinancing your business debt? Perhaps you&#8230;<\/p>\n","protected":false},"author":5,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"content-type":"","om_disable_all_campaigns":false,"footnotes":""},"categories":[111,698],"tags":[],"class_list":{"0":"post-3834","1":"post","2":"type-post","3":"status-publish","4":"format-standard","6":"category-business-financing","7":"category-small-business-financing"},"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v25.9 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>The Pros and Cons of Refinancing Your Business Debt - ARF Financial<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.arffinancial.com\/development\/pros-cons-refinancing-business-debt\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"The Pros and Cons of Refinancing Your Business Debt - ARF Financial\" \/>\n<meta property=\"og:description\" content=\"Are you thinking about refinancing your business debt? 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