What security can I use?

Property and vehicles are the best form of security.  This is because they have verifiable valuations and can be registered on the PPSR.  Vehicles can be funded to up to 100% of their value and property can generally be funded to 80%.  If there is a first mortgage on your property this can still be topped up to 80% but there may be a limit on the amount that can be borrowed.

Plant and equipment can be used as security but the percentage funded will depend on the resale market of the items.

Funding can generally not be provided against general schedules such as office equipment because this cannot be tracked and there is no resale market.

Funding for start ups

Generally it is quite difficult to fund start up businesses as there is no security or proven cash flow history.  Lenders would usually require some sort of collateral security (such as property or vehicles) to fund a start up business.

Invoice finance can be a good option for a start up business as it will grow as the business grows.

How long does it take?

The length of time the process takes is very much up to you.  If you are able to provide the simple documents requested in the submission and nothing further is required then approval may be granted within 24 hours after pressing send.

If further information is required we will contact you promptly so we can start the approval process as soon as possible.

Once the facility is approved you will be provided with a quote and if you are satisfied with this documents will usually be completed ion the next 24 hours.

Execution of the documents and settlement can take place the following day.

With this in mind funds can usually be paid to your account in between 2 and 4 days after you have completed the application.