How to get finance $20,000 – $2million fast!

How to get finance $20,000 – $2million fast!

Business in Australia can be difficult, and after the Banking Royal Commission findings, banks in Australia have tightened up their lending practices that is having a huge effect on businesses across the country.

Businesses feeling the full crunch of the Banking Royal Commission around the country are property developers and those companies dealing in property. Record numbers of property rescissions are  taking place around the country with property developers loosing deposits due to development finance falling through at the last minute or the banks taking months to approve finance. Even business owners with a perfect credit rating and ample security are feeling the effects of the BRC with loans being rejected or taking months to be approved. The days of walking into the bank for a fast or temporary overdraft seem to be over.

The question is, Where do you go if you need $20,000 – $2million fast to secure an investment property, finish a development or pay an existing tax bill?  Most business people can’t answer that question and instead lose the property or miss out on the opportunity that could have been the best investment opportunity of their lives.

I myself have been in the business situation where a short term business loan would have saved a lot of stress and anxiety, hence I thought an article on the subject may help others. If I knew about this option many years ago my financial position would have been a lot stronger than it is today as I would not of missed out on some investment opportunities that came my way.

Short term business loans or  business bridging finance loans in Australia do exist. Providing you have property to secure the loan, and the total LVR of your current mortgage and the funds needed to be borrowed combined does not exceed 75%. In fact I found one lender HomeSec Business Finance who I have spoken to at length that can fund short term business loans of $20,000 to $2million within 24 hours of application. The application form takes only 1 minute to fill out and funds can be transferred into your company bank account the very next day.

Talking to Paul the CEO of HomeSec business finance. I was given many examples of cases where the big 4 banks had rescinded offers on finance leaving the potential buyer exposed and potentially losing thousands of dollars in deposits made on properties. In some cases HomeSec finance were able to provide in excess of $1million dollars in short term business finance overnight. HomeSec’s CEO said “providing the borrower can provide a sound exit strategy to pay out the loan in a few months and owns property we can use as security loans can be processed in 24hours.”

The interest rate is often in question when it comes to short term business loans or caveat loans in Australia but I guess it boils down to this. Does the cost benefit of taking out a short term business loan out way the potential loss if you do nothing or miss out on the opportunity.  If the answer is that the cost of a short term business loan is less than the potential loss of not taking the opportunity before you,  then it makes perfect sense to use this kind of lending. “Many of our clients use our service to secure potential opportunities as we do not need to see financials and the speed of our service means our clients can secure their investment before going to a conventional lender to refinance the property or investment opportunity” said Paul from HomeSec Business Finance.

My question to the CEO is what do most businesses use Short Term Business Loans For? “Property rescissions, the purchase of investment properties that require instant settlement, Tax Debts, New Business Purchases, Short term cash flow issues and project completion are just a few of the reasons companies turn to HomeSec Business Finance. The truth is the funds can be used for any business purpose.”

Although this type of lending may not be for everybody there is a definite benefit for a lot of different businesses to be able to benefit from this service.  I have researched many of these Short Term Lenders and there can be some real pitfalls for those not familiar to the industry with high and hidden fee’s etc. Do your homework and stick with a company that has a proven track record and do your due diligence before committing to a lender.

After a little research I have found a couple of lenders that may be able to help with your financing requirements.


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