Trevor: I've just walked past your coffee shop Betty and the renovations look amazing, and the place was packed! I had a few coffees and a plate of grass, and it tasted superb- congratulations!
Betty: Oh thanks Trevor. It’s funny you mention that, because our turnover has improved by 60% since doing the renovation. We didn't have the spare cash for it, so we borrowed money off HomeSec Business Finance.
We expected it to take 6 months to pay them back, but as business is going so well, we paid them back in only 2 months, plus HomeSec rebated the 4 months of unused interest back to us.
Betty Continued…: When do you settle on the new pizza shop you bought Trev ?
Trevor: It pains me to say this Betty, but it looks as though we are going to lose it. We bought it thinking we wouldn’t have a problem getting finance, since we have equity in our home but the bank keeps coming back to us wanting more information that we just don't have.
[Betty blows her trunk in disgust]
Trevor you have to call HomeSec Business Finance. They will settle your business loan the same day, then you can refinance your first mortgage and their mortgage into the one facility. Plus it’s a business loan, so the loan is tax deductible! That means no more headaches for you!
[Trevor starts wagging his tail in excitement and phones HomeSec Business Finance, who are able to save the day for another small business owner]
There you have it folks, if an Elephant and a Rhino can work it out, there's no reason why HomeSec Business Finance can't be the perfect solution for your client who is in need of urgent funds!
This is the current reality of the financial system…
FACT: Banks have tightened up on business lending
FACT: Banks have tightened up on self-employed business owners purchasing houses
FACT: Business owners make more money than people on wages - So why are the banks making it so difficult for business owners to access funds.
From our point of view at HomeSec, the banks are discriminating against small businesses, making it significantly difficult for start-up businesses. It's even harder still for businesses that have been operating for years and need to borrow funds, so they can flourish.
At HomeSec Business Finance, our motto is - if you have a problem, we will find a solution!
And since the news isn't all doom and gloom, we thought you'd appreciate this funny!
This is how we role at HomeSec…
FACT: We fund start- up businesses with no financial records
FACT: We can have the funds transferred on the same day of application, so that your client can take advantage of a too good to miss opportunity which will enable their business to prosper.
FACT: We consolidate bad debts, such as arrears, judgments, tax debts and debts to suppliers, which is just to name a few.
FACT: We believe in small business and we genuinely want them to thrive and not merely survive.
So Be The Broker WITH THE SOLUTION
While the dream of running your own successful business is indeed very exciting, in practice it’s not always like that. We are sure that most business owners and brokers will be able to relate to some of the following points…
1. If you need finance to purchase a new business, the bank is going to ask you for financials for the business you are not even running yet. In addition, they will ask for business projections, which unless you have a crystal ball can be tricky.
2. A big problem is that not all potential business owners think to get a pre-approval before they buy a business. Instead they rely on the assumption that they have plenty of equity in their property, and so it shouldn’t be a problem. And, it shouldn’t be a problem, but unfortunately, it often is when you are dealing with the banks.
3. We are also seeing people have opportunities to buy into a business. This may be to buy a 20% share of a pub. With an opportunity such as this, there are likely to be a number of other interested parties who are keen to beat you to the prize. So extensive waiting around to get finance in place is simply not a luxury most will have. If you go to your bank, sure they might agree to funding the deal, but the reality is that you are looking at waiting around two months just for them to do their due diligence.
There is a solution – HomeSec Business Finance!
At HomeSec, we don’t need all the hoo ha that a bank insists on. We will advance the funds to your client the following day, secured against their real estate. Then you simply do a normal refinance on the first mortgage and our caveat loan.
It’s that simple!
I think we can all agree that September is a lot of fun with the football finals and the spring racing carnival and hopefully some nicer weather. (for the southern states)
There are also a lot of opportunities for brokers to make money, as it is auction season, and a lot of businesses will soon be seeing some of their busiest periods for the year in upcoming months.
This week we have settled a few short term business loans for brokers that had initially sought out the services from other lenders, but were messed around for weeks. Their clients had also paid thousands of dollars up front, which was non-refundable.
We were able to settle the deals by the following day without taking excessive upfront fees – there is no anxiety when dealing with HomeSec folks!
Don’t forget we also consolidate business debts. If you submit a refinance for your client to a bank and they have, for example, tax debts, caveats from suppliers on their title, or unpaid judgments, they will reject the loan.
HomeSec Business Finance can consolidate all of your client’s debts, including paying out the judgment. Your client can then go into a bank with confidence at being able to refinance the HomeSec loan.
Typically when brokers first seek us out, they may be a little sceptical of us, and with some of the other cowboy lenders in the game, we don’t blame them.
The reality is that a lot of lenders give brokers anxiety.
Two very common examples are lenders who do not answer their phone or call brokers back, and lenders who over promise and under deliver by taking thousands of dollars upfront, with no intention of funding the deal.
At HomeSec Business Finance, we believe it is the lender’s duty and moral obligation to report back to brokers and keep them in the loop on the progress of the loan.
The truth is that when many businesses turn to business finance as an option, they are likely to be in a stressful situation, or at the very least have a lot riding on the decision, and lenders need to be sensitive to this.
Plus it puts the broker in a very awkward position when they have nothing to report back to their client, because the lender won’t even take their calls.
Why should you be confident that you can count on HomeSec?
It comes down to our rock solid reputation!
Very few lenders can show their face at a broker’s conference and not feel nervous let alone get a good reception from the broker community. However for some of the brokers who are new to our community, here are some key points that sets HomeSec Business Finance apart from the rest of the pack…
Plus, we only charge $495 upfront after we have sent an offer, which covers our due diligence and searches. It sure beats paying thousands upfront with other lenders.
Every loan you settle gets you points for a trip to Hawaii, through our Frequent Funder Program.
While we agree that when other lenders show off to brokers about how many loans they have settled, it is indeed very vomit worthy. We would however like to take you through a recent loan that we settled... just for educational purposes.
A Day in the Life of a HomeSec Broker
On Thursday afternoon, we received a call from one of our very special brokers Wayne, who referred a $900K loan to us. Wayne is one of our best brokers, and is extremely well organised.
As we work after 5pm , we were able to get the loan unconditional by 7pm . We instructed for loan contracts that evening, and they were then emailed to the borrower’s solicitor by 9am the following morning, and were able to settle by 2pm the same day.
From application to settlement in 21 hours
The client was amazed, and it’s times like this that we too get as much joy when our broker is able to be the hero for their client, and we think it’s fair to say that he will likely get more repeat business from this client.
Our broker Wayne was also able to earn more Frequent Funder Points to put towards his Hawaii trip, which he is very close to achieving , so this was a big win for him.
We would also like to note that we don't just fund small loan amounts. As you can see from this loan, we can cater for all your clients' funding needs... large and small.
When it comes to service, speed, integrity AND RESPECT, there's only one lender you need to remember and that's HomeSec Business Finance.
That’s what brokers have been asking us all week after last Monday’s newsletter, when we outlined what’s in it for the broker, when you settle our unique product (short term business loans) for one of your clients.
It occurred to us that we have been so busy explaining to you how we are able to perform same-day settlements that we forgot to explain one of the most crucial aspects of our service, and that is taking care of our brokers!
"We don’t just want to help your client, we want YOU to make money too!"
So if you haven't already done so, sign up and become a HomeSec Broker or Referrer Partner TODAY!
At HomeSec we see no reason why you should be limited by how much commission you charge on a loan. Charging .05% is not a lot of money to earn for a home loan, given the amount of effort and work that is required.
Some lenders guidelines seem like they are limiting your potential for growth and earnings, and to put it into context, here is a snapshot of what other industries charge…
Real estate agent > up to 3.3%
Agents that sell businesses > up to 4%
Mortgage brokers that specialise in home loans > Av. 0.6%
Finance brokers that settle loans with HomeSec > up to 4%
We feel like this is a real eye-opener when you look at it like this. As a broker, if you do a short-term business loan with HomeSec and have the deal submitted to us in the morning, you get paid by the afternoon without all the rigmarole that is involved with home loans, and we don't have clawbacks.
On the other hand, as a broker focusing solely on home loans, it can take up to two months to settle a deal and get paid for it. Short-term business loans allow you to create a substantial supplementary income on the side.
And, as an added bonus for every loan you settle with HomeSec, you receive points to put towards a trip to Hawaii, which is extremely achievable after just a couple of larger loans!
CLICK HERE to find out how YOU could be kitted out with a new iPhone X or packing your bags for a week in Hawaii on us.
Over the past few years, we have put a tremendous amount of effort into educating our broker community about how our unique product can benefit their clients, but today it occurred to us…. What about the brokers?
Did you know that we have brokers in our community, who are making up to $20k per month using our short term business loan product?
To give you a bit of context, on a $200K loan you can make an $8k commission. You don’t even need to do any work if you don’t want to, in fact it’s entirely up to you just how involved you want to be with the deal. You can simply give us your client’s number, and we will take it from there, and give you a call once we’ve paid your commission. Most brokers prefer to deal with their client directly, which is understandable, either way HomeSec Business Finance is here to support you.
- You don’t need to get your client to sign a mandate, as we understand that can be embarrassing for you if it’s a lifelong client.
- We only charge $495 upfront (not thousands of dollars). This small fee covers our searches and due diligence. We simply charge exactly what is needed unlike some of our competitors who will demand ridiculous amounts like $5k upfront.
- With every loan you settle, you receive points to go on a trip to Hawaii, which is very achievable after just a couple of loans!
- We have fast & simple paperless applications, which means you can have the entire application completed before you have even left your car.
- We don’t waste your client’s time or money with external valuations.
- If you send us a deal in the morning, we can settle that day, which also means that you as the referring broker get paid on the same day too.