Why are quick business loans used by some Australian business?
There are many reasons to use a quick business loan. The only real limit is having a registered business (ABN) and your opportunities or imagination. Business opportunities can occur when you least expect them, these are the opportunities that it is difficult to plan for. If you don’t have cash on hand or access to a quick business loan then these business opportunities can pass you by. However, Oak Laurel can assist you to get a business loan quickly so that you CAN take advantage of that opportunity before it disappears.
The banks and non-bank lenders are often too slow in assessing your application and releasing the funds for them to enable to you to take advantage of time sensitive business opportunities. This is where Oak Laurel can help. We have access to a range of lenders that can assist you quickly.
Our lender’s loan facilities can be used to assist clients in:
- taking up a commercial opportunity that requires immediate funding; or
- providing a bridging facility where traditional bank and non-bank lenders say ‘no’.
Our lenders can lend on the valuation figure of property instead of the purchase price! For example if you are a property developer and you have purchases land that has increased in value due to the issue of a development approval.
Other issues that can require a quick business loan:
• ATO Debts
• Commercial Notices to Complete
• Business Pre Insolvency
• Wind up notices & liquidation
• General Business purposes
• Cash Flow
• Bridging finance for property purchase
Interest rates vary between lenders but generally start at 1% per month but can be more expensive.
The maximum loan size is dependent on the value of your security. Generally, the maximum is $20 million but can be more on a case by case basis.
A wide range of property can be used as security including:
- Commercial real estate
- Residential real estate
- Rural property
- Invoices / debtor credit
- Specialised Security
- Rent Roll
- Variety of cross collateralised security options
Different lenders will take different security over the property including
- 1st mortgage
- 2nd Mortgage
- registered caveat
Contact Oak Laurel to find out more!
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