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 Suited For |
|
|---|---|
| Pre-approval Time* | As quickly as 3 hours |
| Settlement Time** | 1-3 business days |
| Loan Amount | From $50,000 |
| Loan Term | Up to 3 years including extension options |
| Interest Rate | From 2% per month |
| Basic Lending Criteria |
|
| Product Highlight | New business welcome |
| Dedicated Business Manager | Yes |
*Pre-Approval time applicable during office hour only and is subject to relevant document recipients and applicants availability for communication.
**Turnaround time is indicative only after signed loan contract is received. Fund transfer is subject to fund availability and settlement conditions 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