As a business owner or even just a consumer, I bet you’ve heard the term refinance before? But have you truly understood what it was or included? Well as a business owner refinancing can have many advantages, not only can you refinance existing business loans you can also refinance other business debt such as car finances. But what is refinancing? This is where you revise or replace your existing credit agreement, which is normally a business loan, business car finance etc. and seek to make it better and more favourable for the business, such as having a positive change to their interest rate, their repayment term, you could even refinance all your business debt payments into one which makes managing your cash flow a lot easier. As soon as a refinance has been approved the new contract will take place of the original contract.