A 2nd mortgage loan offers business owners quick access to additional funding by leveraging property equity. It’s an extra financial interest on the property, separate from the existing home loan. Ideal for securing a sizable loan swiftly when traditional commercial loans are out of reach.
Financial Not Required
Home Loan Not Affected
All Industry Welcome
Many mistakenly believe refinancing the home loan is the better choice due to its low cost. However, for business owners, this may not be suitable.
Here’s why:
• Insufficient trade history.
• Limited profit to demonstrate serviceability.
• Incomplete or unavailability of business financials.
• Lengthy turnaround time.
• Personal debt lacks business tax deduction.
Business owners should seek accountant advice before seeking funding solutions. Contact our Business Managers today to learn how FundSpot can assist your business.
| Best suitable For |
|
|---|---|
| Settlement Time* | 3 days to 7 business days |
| Loan Term | Up to 36 months with Extension Option |
| Repayment structure | • Interest Only Repayment |
| Loan Amount | $50,000 - $300,000 |
| Asset Eligibility Criteria | Real Estate Property with LVR under 75% |
| Dedicated Business Manager | Yes |
| Interest Rate | Subject to your business presented scenario |
*Turnaround time is indicative only and after signed loan contract is received. Fund transfer is subject to fund availability and settlement condition satisfied.
Complete our obligation-free application today, and expect a call from your Business Manager shortly.
Provide some basic documents for the most suitable finance option.
Same-day fund transfer upon contract settlement.
Not sure which loan product and features are best for you? Use our comparison
table. Otherwise, reach out to us.
We’re happy to help!
1300 161 212