If you have run a business for any length of time you would have experienced the need for emergency funding either personally or witnessed that need by observing the challenges other business owners have faced.
Why Could A Business Need Funding Fast?
Builders and property developers might need extensions to their terms because of bad weather or material shortages delaying completion.
You could need fast finance if you’ve received a garnishee notice from the ATO.
Bridging finance to get you from one credit facility to another or while you wait to realise capital.
More and more we’re funding seed capital to keep ventures liquid while you realise interest from investors.
Maybe you’ve got your eye on an opportunity you know is going to deliver you a great return.
Whatever the reason – here’s 3 ways to get the finance you need fast without requiring financials
1. UNSECURED LOANS
The benefit of unsecured loans is they’re fast.
For applications up to $250k you might not even need financials.
This means assessment, approvals and even settlement can all be done within a 24 hour period to approved applicants.
2. CASHING OUT EQUITY FROM YOUR FLEET, EQUIPMENT & MACHINERY
There are lots of lenders who are very happy to cash out equity against trucks and vehicles, even equipment and machinery.
The benefit of using your asset as security is this makes the finance much cheaper than an unsecured loan.
You’ll also get longer terms by using equipment finance which means it’s easier on cash flow with repayments much less than an unsecured loan.
Many lenders won’t require financials but if your documents are in order you can access much larger amounts of capital with lenders funding well over $1M.
3. TAKE ADVANTAGE OF EQUITY IN PROPERTY WITH A LOW DOC LOAN
For amounts from $250k to $50M there are lenders who provide loans to business with property security – even if you have bad credit, an outstanding ATO debt or other difficulties.
This is a great way to extend a development term and make sure you take a project through to completion and fully realise its potential.
Much faster than banks, if you have an exit position these lenders will fast track the low doc assessment based on your equity position.
Some even offer no repayments for 12 months.
- Leverage your turnover with an unsecured loan to get access to super fast money in your bank account so you can take action.
- Unlock the equity you’re holding in your fleet, equipment or machinery with with repayments that are more friendly to your cash flow.
- Fix big problems or go after great returns by utilising the equity you hold in property with the potential of no repayments for 12 months.
Whatever the issue, if you need to raise cash fast give me a call 0439062771
Have a great week.
And here’s a couple of examples of the solutions we’re doing for our client’s right now:
- $700k second mortgage for a business owner to expand an exciting new opportunity
- $5M in residential lending for a business owner’s home and investment
- $100k car finance to a credit impaired director
- $4M of funding for a property development
- $650k refinance for a business owner’s private loan