We'd like to quickly explain our product in a bit more detail for some of our newer brokers, who are new to the HomeSec community, and we’d start with the very basics and that is... what exactly is our product?
Quite often in the finance industry, we hear a lot of different terms used to describe a short-term business loan, such as a caveat loan, but another way you can think of our product is as essentially bridging finance.
In a nutshell it is borrowing funds for a short period of time in order to make money, or avoid a major disaster. We have a saying at HomeSec and that is that cash is king when it comes to taking advantage of business opportunities, and that’s why it pays to have a product such as ours up your sleeve.
The reality is a lot of business owners are asset rich with poor liquidity, and that’s where HomeSec can help your client access money in under 24 hours (secured against their real estate asset) for just about any business opportunity.
Examples of Different Loan Scenarios From the Past Few Months
- Properties in rescission - If you are going to lose out on a property settlement because the banks are slow, we can provide bridging finance until you get your finance in place
- Purchasing discounted stock and selling for a profit
- Business tax debts as well as consolidating business debts
- Purchasing a new business - We don’t need financials or cash projections
- Builders starting new projects that need a cash injection to get a project started.
It's all about BRIDGING the gap between today and an event in 1, 2, 3 or 4 months time when long term financing (or some other financial event) comes through.