2 Minutes To Change Your Business
The next 2 minutes could have enormous benefit to your business, and could assist a client of yours who is in desperate need. So please give me just a moment of your time to let you into what seems to unfortunately be the best kept secret in business.
Every week my staff and I talk to and meet with accountants, lawyers, finance brokers, business brokers, and real estate agents from all parts of Australia and New Zealand, and so many of these professionals tell us that they have never heard of a short term business loan, OR they have but assume they are super expensive or hard to get. Yet at the same time, they ALL have clients who occasionally need immediate access to large sums of money.
Firstly,.. Short Term Business Bridging Loans themselves. They must be for some kind of business related purpose and they need to be secured against real estate, located anywhere in Australia or NZ. They are a short term fix and generally run for anywhere between 1 to 6 months.
The loan amount can be anywhere from $20k right up to $2m, and borrowers need to have an EXIT STRATEGY… which is simply ‘how they intend to repay the loan’. This is usually through a bank refinance or the sale of an asset, or even from Cashflow.
The good part about these loans apart from the fact that they can settle in just 24 hours, is that we don’t need to see Cashflow records or tax returns, and we don’t do property or business valuations, and arrears and poor credit history is no problem either. All we need is real estate security, as business or commercial purpose for the funds, and an exit strategy. That’s it!!
The interest and costs are all capitalised into the loan so there are no massive up front fee’s to be paid, and no interest repayments during the term of the loan. It’s all capitalized and paid at the end when the loan is repaid. Plus as they are business loans, all costs are tax deductible.
Finally, what’s in it for you? Firstly, by you knowing that short term business loans (or caveat loans as they are often known as) even exist gives you a massive edge over your oblivious competitors. You become the person who finds the client a solution. Secondly, you have helped a client out of a major hole…. who will end up being a client for life. Thirdly, you can come on board as a referral partner and automatically get paid a referral fee from us when we fund the client… simply for referring the client and their need for urgent funds to us.
Best of all, we do all the work. All we need is the client’s details and we will make contact to see if we can help. If we can, you end up with a very happy and grateful client, and a referral fee in your bank account.
The last thing I want to mention is the cost. The myth is that short term business loans could be expensive, but the reality is that they are a small price for a lot of benefit. As they are only short term loans, they are charged at a monthly rate. This is sometimes where the confusions arises as people multiply the monthly rate by 12 and panic. The reality is, if you have the loan for 2 months, you are only paying for 2 months. It’s that simple.
Plus the good ol cost benefit analysis kicks in… if the benefit of getting the funds by tomorrow outweighs the costs, then it’s a no brainer…. Green lights everywhere.
Ok well thanks for your time. I’ll let you get back to what you are doing…. Which will hopefully be going to our HomeSec Broker Support website and clicking on the PARTNER WITH US button and taking 60 seconds to come on board as a HomeSec referral partner, OR even giving us a call to find out more.
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