We make it no secret that one of our pet hates is when other lenders send arrogant emails, bragging about how many loans they’ve settled for the month, which let’s face it, probably have a lot of sugar on them. Now, that’s the last thing we’d ever want to send you, but today we’d like to provide you with a case study as an example on how short-term business loans can be used as another tool to have in your toolbox, so to speak.
Tuesday morning after the Easter break we received a loan application at 11am for an urgent settlement that day. It was a purchase for a lovely lady, who had bought a house off the plan 2 years ago in a fantastic area and it had gone up $200k. She was in rescission and if she didn’t settle on Tuesday the developer would keep her deposit, sell the property and pocket the extra $200k.
To make matters even worse for the client, she was in a car accident that day, adding another layer to the stress she was already under. Before we let you in on the happy ending, it should be noted that this was a business transaction. (The property was being purchased in a company name)
Thanks to the technological systems we have in place and an exceptional broker who brought the loan to us, we settled the deal at 4:30pm that same day....with 30 minutes to spare! The client sent us a lovely, very emotional message, thanking us for saving the day, and our gun broker made himself a tasty brokerage fee, PLUS earned valuable points in the HomeSec Frequent Funder Program, which has him within a stones throw of a fully paid trip for 2 to Hawaii. He will also make a commission doing the refinance which will pay out our short-term loan.
That's how we roll at HomeSec!