Don't Make The Decision For The Client
Remember, at the end of the day, it is the clients decision to make their own mind up on the costs of the loan. We always say to clients that it’s a simple cost-benefit analysis. If the benefit from getting access to the funds by tomorrow outweighs the cost, then GO FOR IT!
At the end of the day, the client has come to you for an urgent SOLUTION… not an interest rate.
A bad credit score or loan arrears are irrelevant
Many short term business lenders turn their noses up at clients with bad credit scores, or rates or mortgage arrears. But not with HomeSec. Credit scores are irrelevant with us, and if there are any arrears, we simply pay them up to date out of the loan proceeds. Simple!
We also fund clients out of liquidation, and pay tax debts. As long as there is sufficient equity in a piece of real estate, you can virtually say that the loan is approved.
In closing, I hope these 3 tips are of assistance to you.
Don't Over Complicate Things
To get a short term business loan underway with HomeSec, all we need are…
1. An Online Application
2. A Rates Notice for each property being used as security
3. A recent mortgage statement for the security property/s
4. A piece of photo ID for each person on title.
Once we have these 4 things, we will issue a letter of offer within 2 business hours. This offer will include your fee (which will be paid to you when the loan is funded), so in keeping with Tip 1, all you need to do is present it to your client, and reassure them that they can have the funds BY TOMORROW if they proceed, and the rest is up to them. Remember to also remind them that the costs of a short term business loan are Fully Tax Deductible!
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