Alternative financing solution

Our financing product is suitable for a range of customers, including start-ups, established business owners, and those with a bad business credit history. We can design a flexible repayment plan that suits your cash flow, including a combination of periodical repayments, lump sum payments, or a repayment plan of your choice.

Additionally, we may offer a loan term extension to ease your commitment and provide maximum flexibility. Our indicative loan amount starts from $200,000, and asset eligibility criteria require real estate property (mortgaged OK). A financial statement is optional, and you will be assigned a dedicated account manager for support.

Easy eligibility

Bad credit ok

Quick decision

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What is a second mortgage loan?

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Second Mortgage Loans- Fact Sheet

Best suitable For
  • Start-ups
  • Established business owner
  • Commercial property investors
  • Bad business credit history
Settlement Time* 3 days to 5 days
Loan Term 1 month - 36 months (including term extension)
Repayment structure

We can design a repayment plan that fits your cash flow.

This can be a periodical repayment (e.g. monthly), a lump sum payment or a combination of your choosing.

To ease your commitment and allow maximum flexibility, a loan term extension may be available.

Indicative Loan Amount from $100,000
Asset Eligibility Criteria

Real estate property (mortgaged OK)

Financial Statement Optional
Dedicated Account Manager Yes
Tax Deductible Yes
Interest Rate

Our interest rate is as low as 1.50% per month.

We are very confident that our rate is one of the lowest in the market, if you do find a lower rate, let us know, we will try to beat it.

Save Interest
  • Pay-off loan early
  • Extra repayments lower the balance

*Turnaround time is indicative only and after signed loan contract is received. Fund transfer is subject to fund availability and settlement condition satisfied.

Not Sure Which Loan?

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!

FAQs about Second Mortgage

No. A second mortgage loan allows the lender to register the second interest on an asset that is already secured. It provides flexibility in refinancing existing asset with another lender. Whilst, a caveat loan is funding from a lender which is secured against the value of the property’s equity.

A second mortgage allows the lender to register the second interest on an asset that has already been secured. It is ranked behind the first mortgage, meaning the first mortgage will be repaid before the second.

By opting into Fund Spot’s second mortgage loan option, you can Receive funding as low as $100,000, which is flexibility tailored to suit your business’s need.

A second mortgage business loan is faster than a home equity loan and has the benefit of being a tax-deductible for all the costs that are involved in the loan. Home loans on the other hand contain a longer processing time, has less flexibility, and requires more documents which makes it harder for approval due to strict government legislation.

For simplicity and fast processing, a second mortgage is not required when it comes down to low approval or highly mortgage property.
If you request for a higher loan amount, given the property has sufficient equity, a 2nd mortgage backed as security may be necessary for you to apply.

Refinancing often requires much longer processing time and more documents are generally needed to be provided. The approval condition is also stricter.
To fulfill business needs with faster approval, a second mortgage is the better option; especially with the attachment of the tax deduction benefit that does not exist with the refinancing home loan option.

All that required from you is to simply have a property with sufficient equity, registered in the name of the business owner(s).

The speed will be subject to the loan amount and availability of the clients. Here at Fund Spot, we value our customer’s time. With us, closing on a second mortgage can be done as quick as just 3 – 5 working days.