The refinancing of a business can be extremely difficult, as, in the vast majority of cases, the principal reason for the requirement to refinance is that problems are being experienced with existing bank or loan arrangements.
Notwithstanding this, there are often very sound reasons for wishing to change financial arrangements, e.g. a clash of personalities with your Bank Manager, a lack of sympathy with or understanding of opportunities available to you, or an inability to satisfy your revised needs within the general lending parameters of the existing loan source.
The commercial finance market is however becoming so competitive that it is becoming more common for people to change from one lender to another simply to secure a better rate.
You will need to demonstrate to the new source, and indeed initially to ourselves, that you are a suitable refinance candidate, and be prepared for some questions that may, on the face of it, appear impertinent! A well conducted bank account is essential.