Running a business means there’s lots on your plate. Everyday is a new obstacle, task or problem that you need to source a solution for. When it comes to funding your business and sourcing finance, we’ve made finding a solution easy for you. This article outlines the four types of loans you should know about.
We have been sourcing financial solutions for business owners for numerous years. In that time, we have determined the four most important types of loans, caveat loans, second mortgages, development loans and small short-term loans.
A caveat loan is a great option for a business owner who needs to source funds quickly. Caveat loans are a great short-term funding solution for a time sensitive opportunity. Obtaining a loan from a traditional lender is often difficult and time consuming. The advantage of a caveat loan is that you can obtain the funds within a matter of days from submitting your application.
A caveat loan works by placing a caveat on the title of your property. This secures the real estate and the lender is registered like a mortgagee. The caveat loan is lodged on the title behind your existing mortgage, which means you are prevented from selling the property without permission from the caveat loan provider. The caveat is released once you either refinance, repay or of date from settlement of the property’s sale.
Many opt for a caveat loan as a short-term financial solution for the business. When you’re at a crossroad and weighing up your options, finance is often a critical part in the decision-making process. With a caveat loan, you can make decisions based on opportunity as opposed to your financial position. Meaning, if there is a time sensitive opportunity where the business will benefit immensely from, you can continue to grow and profit from it by obtaining a caveat loan instead of missing out on the opportunity.
Learn howcaveat loanscan help your financial situation.
A second mortgage is a type of loan that allows you to borrow funds based on the equity of your property, this is placed over your first mortgage. When comparing types of loans for your business, the interest rate is often analysed when selecting which is best for you and your financial situation. With a second mortgage loan, the interest rate is far lower compared to alternative loans, which makes it enticing for when you need extra funds for your business.
Securing a second mortgage loan has many benefits for a business owner, we have listed some of the benefits below:
Discover how second mortgages can be beneficial to you and your business through our article ‘Reasons to consider a 2nd mortgage’.
If you have equity on your property and you find yourself unable to extend or refinance your first mortgage, securing a second mortgage for your business may be your best option.
Asecond mortgagecan help your business, learn more about how today.
When you are in the process of property development, unexpected costs can occur. Recently we’ve seen the construction industry under pressure, struggling to source materials with inflated costs involved. Sourcing funds for your development idea can be incredibly difficult as banks often have an extreme risk adverse when it comes to developing property.
We know developing property is tough, there are lots of things you need to think about, and finance shouldn’t be one of them. Our team at Simply Funds are here to alleviate your financial stress, so you can continue to develop that way you want.
Whether you are sourcing funds for either a residential or commercial property, we can obtain quick funds for you up to $100m.
Discover how we can help finance your propertydevelopmenttoday.
Securing a loan can often feel daunting, with a short-term business loan we work to source what is suitable for you. A short-term business loan often entails a 12-month repayment period that helps business owners on day-to-day matters. We source the funds you need for your business, that is affordable to you, with a highly competitive interest rate.
Sourcing a short-term business loan can help secure the growth and profitability in your business.
Each business is unique and has their own financial needs and requirements. We design short-term business loans to overcome difficulties, capitalise growth and increase output.
Learn how ashort-term business loancan benefit your business.
Being a business owner is hard, especially when it comes to the ever-changing financial needs of business. We offer a variety of loans and determine which loan is best applicable to your unique business and situation. We act quick, as time is of the essence and seize opportunities at hand to grow your business. We provide a quick and easy 6-step application to obtain finance for your business,applytoday.
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August 17, 2022
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When seeking funding in the form of a loan, it is important to understand a range of key concepts that apply to lender assessed financial products.
Challenges are a daily occurrence in the world of business. More often than not, business owners mistakenly view these challenges as an obstacle rather than an opportunity.
When it comes to short term business finance, one of the most difficult tasks faced by business owners is finding the product that will best suit their needs.
If you require additional cash flow for your business or other personal reasons, using the equity in your property may be a viable option. Contrary to the thoughts of many, you can use personal real estate which has an existing mortgage as security for a loan provided there is equity available.
The world of business continues to evolve, and the lending space is no exception. There is an increasing demand for secured loans which has brought about changes in many areas.
Whether to invest in working capital, upgrade premises or facilities, purchase equipment or buy property, a second mortgage loan (or Caveat Loan) can provide money in less than a week from application to released funds.
Getting a business loan with major financial institutions such as banks can take weeks, or even months. Simply Funds has this problem by providing fast loans for business.
Securing funding through traditional lenders such as banks can be a lengthy and rather complicated process.
A low credit score is not the end of the road
Throughout the course of running a business owners are faced with difficult decisions and constant challenges. Among those are decisions relating to cash flow management, and more specifically, business finance.
Caveat loans (https://simplyfunds.com.au/blog/fast-caveat-loans/) are a financial solution for businesses, particularly useful for start-ups and commercial property investors. A caveat loan is a fast funding loan that is secured against a property. I
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A Bizcap provides both Unsecured and Secured loans to Small Business Owners. When assessing a loan application Bizcap generally doesn't take into consideration if a prospective customer has specific assets to provide as security. However:
(a) if the loan amount is above $30,000 (or any other figure which Bizcap determines from time to time), Bizcap will, under the loan agreement take a charge. For a corporate borrower and any corporate guarantor, the charge is over all of that entity's present and after-acquired property (that is. the security is not over specific assets but any and all assets which the entity may have). For a sole trader borrower and any individual guarantor, the charge is over its current and future real property; and
(b) in certain instances, for example, where the loan relative to the cash flow of the borrower is of a size that warrants the provision of security over specific assets. Bizcap may require specific security to be granted over those assets. Bizcop may register its security interest(s) under relevant legislation, including the Personal Properties Securities Register and the register held under the Real Property Act 1900 (NSW) or Its equivalent.
I n addition. Bizcap may take personal guarantees from directors of corporate borrowers, directors of corporate guarantors and certain individuals. No registrations are made in respect of guarantees.
Simply Funds operates an online information service that seeks to introduce Australian businesses to potential funders. Simply Funds does not provide any credit, financial products, or financial advice – either to individuals or businesses.
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