Short term loans are used for a specific urgent purpose, to solve a short term problem. It is important to have a definite loan takeout strategy by way of refinance or sale.
Fast Short Term Loan Approvals within a Day and Settlements possible with 24 hours (subject to T&Cs)
Call 1300 550 669
1st MORTGAGES from $100,000 to no upper limit
Terms from 1 month to 12 months.
Interest rates start from 7.5% p.a.
2nd MORTGAGES from $100,000 to no upper limit
Terms from 1 month to 12 months.
Interest rates start from 16.75% p.a.
Secured by Real Estate
Business Loans
FAST SETTLEMENTS – some settlements can occur within 1 day.
Go to our Business Loans page
Call 1300 550 669
Business Purposes Only (over 50% of loan)
There are many scenarios where short term finance will be useful:
- To provide a short term loan to settle an urgent loan where time is of the essence, while you wait for a cheaper loan to be approved and settled.
- Payout the ATO (Australian Taxation Office) with short term finance which will then allow you to refinance with a lower interest rate lender.
- Use short term finance to payout aggressive creditors who are threatening to default you or place you in administration, receivership, liquidation or in bankruptcy.
- If you are already in default, administration, receivership or liquidation we can payout the debt with a short term loan, with the view to refinancing with a private lender for a longer period while you repair your credit rating.
- Other purposes.
Short term property loans are far more expensive than a traditional 1st mortgage finance due to the short time frame and inherit risk to the lender.
Short term finance interest rates can vary from 7.5% per annum to 2% per month, depending on whether the loan is secured by a first mortgage or second mortgage, the nature of the loan and risk to the lender.
All short term loans must be secured by real estate.
Loans must always have a clear exit strategy to payout the loan before the end of the short term property finance facility expires. If the short term loan is not paid out on time penalty interest will usually be incurred by the borrower.
Example: you may have a development finance or property loan application in with a Bank and it is going to take more time to settle with the Bank than first envisaged, although you will lose the property you are buying if you do not settle. This is when a short term property finance will solve the problem.
Business Loans – Unsecured
We have business loans available, which are unsecured business loans. These loans are assessed by providing your business bank statements; proving your business income and potential repayment capacity.
Go to Business Loans
Call us on 1300 550 669 or complete the inquiry form below.
Bankrupt exclusion could be shortened
The federal government is considering relaxing personal bankruptcy laws to reduce the three-year ‘‘exclusion period’’ for individuals declared bankrupt to as low as one year, to help financially stricken people and small businesses get back on their feet faster following the recession. A reduction in the blacklisting time would help encourage sole traders and entrepreneurs to start new business activities. The federal government is considering relaxing personal bankruptcy laws to help financially stricken people and small businesses get back on their feet faster following the recession.
Attorney-General Christian Porter’s department is consulting with stakeholders on reducing the three-year ‘‘exclusion period’’ for individuals declared bankrupt to as low as one year, government and industry sources said.
Courtesy AFR John Kehoe read more