Short Term Loans

Need Cash Fast?

If you need cash fast for your business then an Accrutus short term loan can get you cash in 24 hours. The loans are secured against property and you must have an exit strategy to repay the money (eg. Container of goods arriving soon). The loans can be for any time period from 1-12 months and must be used for business.

Short Term loans can be used for a variety of business and investment purposes including:

Bridging Finance – if you are about to purchase a new property but need cash to put down the deposit and your old one hasn’t settled yet a short term loan can provide you with the funds. Once the house has been sold you can use that money to repay the loan.

Renovation – A second mortgage can be taken out secured against your property to enable you to perform renovations or finish off existing renovations and add value to the property, enabling it to be sold for a higher price.

Construction – if you are building a project and have run out of money before completion you can apply for a second mortgage to gain enough funds to complete the project.

Business – if you are importing goods and you need some cash to get you through till the stock arrives or must make extra payments to receive the goods then a short term loan will get you through. Then once the goods have been sold you can repay the loan.

Caveat Loans

A caveat loan can be completed in 24-48 hours with no upfront fees or valuations required. They are only available for 1-6 month terms and you must have an exit strategy to repay the loan amount.

Second Mortgages

A second mortgage is used for longer time period (1-12 months) and is cheaper than a caveat loan. Depending on the lender there will be a range of fees to place the second mortgage on the security, and it takes a few days minimum to obtain the funds.

Requirements

• Property used as security must reside in Australia.
• Maximum LVR – the maximum loan to value ratio for 1st and 2nd mortgages together is 80%
• Financials – Depending on the exit strategy and the lender you may have to provide statements and financial details. Some lenders do not require any financials or documentation.
• Fees – For Second Mortgages there is usually a host of fees including valuation fees, establishment fees, legal fees (for solicitor) and maybe others depending on the lenders. For caveat loans there is less or no upfront fees.
• Amount – depending on the lender and your security you can get finance for anything from $10,000 to $10,000,000

For all your short term finance need Contact Us or call 02 8860 9529