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Running a business smoothly requires funds, at times when the business financials or cash flows are not strong enough are not enough to get the required funding for the business, a property finance can be one of the best funding options wherein you can get a low doc or no doc approval. A business loan for property owners is a flexible way to unlock the equity in your property and turn it into a funding source to maintain the smooth functioning of the business.
Putting in simple words, property finance is any financing transaction which is backed or secured by a property. A business owner secures a loan against property that can be either residential property or commercial property.
To be eligible for a property backed business loan, you should
| Borrowing Limits | |
|---|---|
| Loan Amount | $50k – $50M |
| Term | Up to 30 years |
| Can be used for |
|
| Repayments |
|
| Security | Required with funding possibilities up to 80% Loan to Value ratio |
| Pre-Approval Time | 24 – 48 hours |
| Unconditional Approval and Settlement Time | 3-7 business days |
| Documents required |
|
| Full Doc Approval |
|
| Interest Rates | Starts from 7.99% p.a. |
| Benefits |
|
Loan Amount
$50k – $50M
Term
Up to 30 years
Can be used for
Repayments
Security
Required with funding possibilities up to 80% Loan to Value ratio
Pre-Approval Time
24 – 48 hours
Unconditional Approval and Settlement Time
3-7 business days
Documents required
Full Doc Approval
Interests Rates
Starts from 3.99% p.a.
Benefits
*The information provided in critical information sheet is intended as a guide only. Please contact us for more information.
Businesses operating in different industry could have different asset requirements and most of them can be financed through any of the above-mentioned options. Some of the most popular asset finance options are listed below
These loans are generally secured against real estate properties by the way of 1st or 2nd mortgage on the property
Caveat loans are a type of business loan where in a caveat is lodged on the property by the lender against the loan.
As the name suggests, a bridging finance is a short-term facility to bridge interim cash flow gaps
Secure the truck needed for your business logistics with heavy vehicle financing.
A commercial property loan is a type of loan availed against commercial property.
A residual stock finance is a finance against unsold stocks from a property developed by a developer.
A construction or development finance is funding obtained to complete the construction/ development of a property.
Get the right equipment for the right construction task with construction equipment financing
With Broc Finance every business can avail a business loan by using the property as security. Below are the three simple steps that you can follow:
First step is to simply fill out the application form with the required information and loan request.
Once the application is received, our lending specialist would get an indicative quote within 24-48 hours.
Once we receive the mandate to proceed basis indicative quote, we get a formal letter of offer from the lender.
On receipt of signed LOO, the lender would initiate valuation and get loan docs prepared
Once the loan docs are signed and sent back to the lender, the funds get disbursed into your account.
Whether you need a vehicle or a piece of equipment to expand your business or to improve the productivity of the operation, you often come to this question: should I buy or lease?
As each of them has a different impact on your working capital, there are some factors you should consider before making a decision:
While applying for the loan, it is very important to know the purpose. Since property finance involves risk on losing the asset, one should deploy the funds for the right purpose.
Even if the purpose justifies the need for funds, the business has to consider the second most important factor of loan which is repayment. After the loan is approved, the business has to repay the whole amount in equal monthly installments if it’s a principal plus interest or interest only repayment option. In case if it’s a capitalized interest option, one should be mindful of the bullet repayment at the end of the facility.
The process of availing of a loan is incomplete till the business finds the right lender. Based on the needs you as a business owner ensure to choose the ideal lender which has flexible terms apt to your requirements
Lastly, there is a possibility that you find two or three lenders that are offering exactly what you want. Now in such cases, you can simply compare the offer and check which offer will benefit the business. Based on the analysis, choose the right lender with the right offer for the business.
Finding the right property loan can be a stressful and time-consuming task. We at Broc Finance are empaneled with 50+ lenders and have extensive experience in property finance and endeavor to find the best loan options for our customers. So, instead of going through all the leg work, share your requirements with us and we will assist in getting the right loan for you.
As a coin has two sides, every finance product has pros and cons attached to it. Some of them are listed below.
In a short tenure, Broc Finance has helped Australian businesses, especially the SMEs to secure diverse financing options and facilitate the same via credible lenders. We have a robust network that comprises the top lenders in the country. Our accessibility to varied business loans makes it easy for businesses to get the kind of financing that’s best suited for them. The following approach makes us stand out from our competitors:
Personal Consultation: Unlike business loan marketplace websites which use AI based algorithms to match your requirements, we provide obligation free personal consultation as every business is different and an AI based algorithm may not provide them the optimum solution.
Tailor made options: Being a small business owner, many of our clients are not sure of right loan product for their businesses. Our lending specialists understand their needs and recommend tailor made options.
Clear Communication: We keep our clients well informed about the stepwise progress of their loan application through clear communication in a timely manner.
Competitive Pricing: We endeavour to achieve the optimum business loan solution for our clients at the most competitive pricing possible.
Securing huge amounts in loans with limited or no documents is not an easy task for businesses. Property finance as compared to other business loans offer to unlock equity in your property and get a no doc/low doc approval as well.
Getting a loan with a bad credit history is tough but not impossible. Especially when you’ve got a property to back your loan, your chances of getting a loan with a bad credit history improves.
The duration of property finance depends on the property finance product that you are after. Generally, the term ranges between 3 to 36 months.
Applying for property finance is quick and easy with Broc Finance. All you need to do is simply fill out the application form with all the required documents. Once your application is received, our team with get in touch with you for a personal consultation and can get an indicative quote for you within 24-48 hours. The funding is possible within 3-7 business days.
Contact us today and discover how our expertise can help your small business thrive.
CALL US
1300 253 041
EMAIL US
enquiries@brocfinance.com.au
Broc Financial Services Pvt Ltd.
ACN 648 088 304
Credit Representative number 540795 is Authorised under Australian Credit Licence Number 389328
