Small Business Loan – Start-up Business
When you think about it small businesses are the back-bone of the Australian and New Zealand business landscape. As important as they are, unfortunately small
Funding for buying a business
Buying a business, especially if it’s your first business, can be a very exciting time. You’re going to take the reins of your business life, be you own boss, and make all the decisions yourself.
Now in an ideal world, you would have ample time to co-ordinate a business loan, or second mortgage with your bank, but sometimes this can be a lengthy process, taking weeks and even months. And as anyone who has been in business for any length of time will tell you, the business world is not often ideal. It’s a dynamic and challenging arena where often you have to react and make decisive on-the-spot decisions so as not to miss a buying opportunity. In this situation it helps to be dealing with a lending company like BizLoansFast that has a ‘cut through the red tape,’ can do attitude.
Client case study—Claire.
We feel all of our clients at BizLoansFast are unique, as are their needs. But to illustrate what I mean by our emphasis on getting things done and getting funds into your account quickly, let’s look at a client that came to us recently.
Claire is in her mid-thirties and lives in an inner-city Sydney suburb with her partner Michael and Bulldog Tex. She already had a business that sells aged care aids on-line and to medical retailers. It’s a very stable business, but herself and Michael are always on the lookout for more business opportunities that could provide passive income. She works from home and part of her regular routine is to go down to the local shops in the morning, get a coffee and the paper from the local news agency run by an older gentleman Alex.
One Monday morning Claire noticed that Alex wasn’t there, one of his sons was behind the counter. He explained that his grandfather had been taken ill on the weekend and was in hospital. During the week she stopped in every day and it was clear that Alex was getting progressively worse. The next weekend he passed away.
Claire had been chatting to the family on her daily visits as his sons had been doing rotating shifts to cover the opening hours and it was evident they were all busy with careers of their own and didn’t want to continue their father’s business. They wanted to sell it, lock stock and barrel and move on.
Claire and Michael realised it might be their perfect second business as it would be just down the road and they could easily monitor staff they would put in to run it. Luckily the business had recently been valued for insurance purposes. Claire and Michael met with Alex’s widow and sons and expressed their interest in buying the business. The only problem was the family had already contacted a business broker and a national news agency chain had made an offer. The family knew Claire and said they would rather sell to her and Michael if they could just match the offer, which was very reasonable.
The couple immediately rang their bank and were told a second mortgage loan on their home would take weeks to process, even if it was approved. Calls to other lenders got a similar reply.
Claire rang us on late on a Thursday afternoon, so late that our receptionist had actually just left for the day and one of our Directors happened to pick up the phone on the way past her desk. After he chatted with Claire for a few minutes he realised the urgency of the situation. Five minutes later Claire had filled out our 60 second on-line form, forwarded a copy of a recent mortgage statement to our office, plus a rates notice for the property they were nominating as security, and sent through her and Michael’s ID.
Our Director cancelled the evening tennis game he’d been leaving for and for the next three hours worked through the approval process for Claire and Michael. That’s why our motto is– “whatever it takes.”
The next morning at 9:30am Claire and Michael got green light from BizLoansFast. They rang the business broker and put in a formal offer for the business, contracts of sale were sent out and two days they were the proud owners of their local news agency. Now Claire even has two of Alex’s grandsons employed as casuals, to keep some family connection with the business their grandad owned and ran for 30 years.
Like Claire and Michael, if you’ve had a business opportunity presented to you, and timeframes are tight, at BizLoansFast we have on the spot speedy solutions with Short Term Business loans, and Fast Second Mortgage options, that could make your dream of owning your own business a reality.
Call us on 1300 852 150 today to find out what might be appropriate for you.
The speed with which a loan will be approved, and funds deposited into your account. BizLoansFast can complete this process in 24 hours.
How much documentation will you have to provide and what will be the cost of sourcing it? Paying valuers to conduct costly valuations on your business and having your accountant generate and collate numerous financial statements, cash flow history reports, and asset and liability statements just to apply for a loan is costly and inefficient. All BizLoansFast needs is a rates notice, a recent mortgage statement, your ID, and our 60 second on-line application filled out and we get to work approving your loan.
With bank loans you can often be looking at lengthy approval and loan processing times. They make it clear from the outset you will be operating on their timeframes, not them reacting to your needs. They often request an onerous amount of documentation? They snail mail contracts back to you, taking 2-3 days? They send cheques or deposit funds via internet transfers that take time to clear? Banks were born centuries ago and some still operate like they’re still there!
With an online business loan from BizLoansFast approval letters on loans are issued in 2 hours via email! Once accepted we issue loan contracts in 4 hours! No property or business valuations, no tax returns, no financial records required from you. Once approved your funds are transferred to your account immediately! Our whole process takes 24 hours from start to finish, and our consultants keep you, informed at every moment of the process—we’re here for you—not the other way around!
At BizLoansFast we think we’ve made our loan application the simplest and easiest to complete in the industry. Because we only secure your business loan against real estate you already own and you don’t make any payments on the principal loan amount during the term of the loan, we don’t need multiple statements and records regarding your business. We understand that what you need to focus your time on is your business and not completing lengthy loan applications.
Literally all you need to get a BizLoansFast loan application underway is to either call us on 1300 852 150 or:
In business, speed and efficiency can be everything. Often business owners need to pivot, be nimble and act decisively. Sometimes this means having medium to large amounts of funding at your fingertips to take advantage of a commercial opportunity or avert a cash crisis.
Super-fast service understandably comes at a premium, and at BizLoansFast we recognize you are coming to us for a time effective solution, not just a rate. We have a variety of loan structures to suit your needs. Whether it be a short term business loan, (also known as a caveat or bridging loan) or a fast second mortgage loan. Our team will react to your application and can pre-approve funding in 2 hours, we can email loan contracts in 4 hours, and have funds in your account RTGS payment instantly. We’ve built our reputation on efficiency and speed of service and will find you a solution to meet your timeframe.
At BizLoansFast our upfront fees are low, and we are transparent in disclosing them. We are not here to waste your time promising you the world as some other lenders do, and then request high fees be transferred to their account before they fund your loan. You should be extremely wary of any lender requesting this, as the costs of processing a loan application just do not warrant it.
Any fees associated with your loan are clearly shown in simple language and you will know exactly what they will be.
BizLoansFast is a founding member of A.S.T.L.A the Australian Short Term Lenders Association and adhere strictly to fee disclosure charters we helped draw up. When borrowing money short term, we advise you only deal with an accredited member of A.S.T.L.A.
When you think about it small businesses are the back-bone of the Australian and New Zealand business landscape. As important as they are, unfortunately small
