When you think about it small businesses are the back-bone of the Australian and New Zealand business landscape. As important as they are, unfortunately small business owners aren’t always supported by the lending community as well as we think they should be. At BizLoansFast, as you’ll find out, we’re a little different.
Since 2004, a major percentage of our business lending has gone to small business start-ups, often the ma and pa businesses that are the lifeblood of so many communities. We’re talking about newsagents, fish and chip shops, independent real estate agencies, landscaping outfits, medical practices, cafes, automotive shops and builders. In short, any kind of small business that right now you might be thinking of starting. Basically, where there’s someone with an entrepreneurial spirit and a positive “can do” attitude, ready to give it a go, we at BizLoansFast can be there for them—to help their dream become a reality. After all, our company’s grown in size a lot over the years, but once upon a time all the Directors of BizLoansFast were just like you, people that wanted to get started in business and just needed the funding to get going. We haven’t forgotten those days.
At BizLoansFast there are different loan structures we offer Start-up businesses.
Short term Business Loan
This type of loan is also sometimes referred to as a caveat or business bridging loan. With it you can secure funds from $20,000 to $5,000,000. It’s perfect if you have a business idea ready to go and suddenly get presented with the opportunity to put it into action. Say the perfect premises comes up, but the landlord wants a decision as fast as possible? This type of loan is good because it’s only for a short term, 1-6 months, so you’re not paying interest over an extended period. Also, you don’t have to make any payments or interest payments during the life of the loan, so all of the money you’ve loaned is going towards your start-up.
We’ve also dispensed with all the onerous rounding up of financial statements and credit checks, so that we can get things fully processed for you in 24 hours, if you qualify. And qualifying is pretty simple. All we need to establish is that the loan is for a business purpose, the value in the property you are nominating as security is sufficient, and that an exit strategy for the loan finalisation is in place. It’s really that easy.
Another positive is that—say you open your business and it flourishes early, well beyond your growth predictions. Well, we’re happy for you to pay your loan back early if you can, without any penalty. At BizLoansFast, from day one in 2004, we’ve always thought long term with clients, and we’d much rather have you as a loyal repeat customer in the future, than hold you to any onerous loan conditions on your first loan.
Interest only Second Mortgage Loan
This can be the right loan to apply for if you want your monthly repayments to be lower than a traditional principal plus interest loan, because you only pay the interest on the loan each month and the minimum life of the loan is 12 months, but can be extended if you want. In that instance you just keep paying the minimum monthly interest, without any fees or penalties, and finalise the loan when you’re ready. And because for a business purpose, all the interest you pay on the loan, and any costs in establishing it (which we keep to a minimum) are all fully tax deductable.
If you’ve been knocked back by your bank or another lender for the funds you need to start-up a new business. Or frustrated by the timeframe they need to approve and process a loan get in touch with us.
One aspect of applying for a loan we do want you to be aware of is that: if you are applying for a loan with us, we’d suggest you don’t apply with another lender until we’ve assessed your application. Reason is that most other lenders automatically do a credit check, and the more checks on your credit file, the more it can lower your credit rating, ultimately making it hard to secure a loan. So let’s see if we can help you first. To see if you qualify for a BizLoansFast loan, just jump on our website, pop in your first name and email, plus the amount you are looking to borrow and submit those details, we’ll get a response to you in record time! You can also call one of our helpful consultants on 1300 852 150 and speak with them directly.