New York City, New York—09/18/2020: Expensive loans and inflexible terms are often the reason behind a business wanting to refinance their commercial loan. However, there’s much to consider when deciding on this option. Joe Malvasio of GCP Fund shares his knowledge on the subject.
Joe Malvasio is the president of a leading private lending company, Global Capital Partners Fund. The company has over 3 decades of experience in the private lending industry and Joe has worked with many companies all over the United States, providing assistance with commercial loans. He has worked closely with many clients, advising them on how to go about their finances, particularly borrowing.
Joe Malvasio stated, “Businesses tend to resort to bank loans as their primary source of funding. Since the industry is highly regulated, clients are scrutinized before coming to a verdict. Clients who are provided with the funds often have to adhere to stringent payback schedules and high interest rates. As a result, commercial borrowers look to refinance their inflexible and expensive loan as soon as possible.”
Joe Malvasio stressed upon the fact that borrowers should carefully consider refinancing. It isn’t a decision they can take hastily. Often, other lenders might seem to provide a cheaper alternative, but the costs add up and the refinanced loan is no longer cheaper than the former. Origination fees, additional fees, fine on early payment, fine on late payment, etc. can all make a loan more expensive.
Lenders are also known to favor loan applications that release equity to invest in more properties or to invest in the growth of the business. Lenders don’t typically favor borrowers with cash flow gaps. Borrowers should therefore fix issues that are causing cash flow problems in the business before applying for loan refinancing.
Businesses should also work to improve their credit rating for a better interest rate and flexible loan terms. Their credit rate directly impacts the perception of lenders. A poor score makes a client less creditworthy and more risky as well. Clients should use the time between the refinancing of the loan to improve their credit rating by removing negative items and disputing any errors on their credit score.
Authorization
"I, Joe Malvasio, am an authorized distributor of news and have the authorization to use the company’s name, Global Capital Partners Fund, in press releases."

Contact Information
Website: https://gcpfund.com/
Contact: 1-800-514-7350
Business Address: 555 Fifth Avenue, Suite 302, NY 10017
Email: [email protected]