If you have the Vision, we will back you!
At HomeSec Business Finance, we like to think of ourselves as visionary lenders. We believe in clients starting new businesses, going forward with new opportunities, and of course, starting new projects.
If you are a builder developing say 10 units, when you go to the bank you quickly learn that getting finance can be a long and complicated process. For example, the bank will likely ask to see projections figures. The problem for builders is that that most simply do not have cashflow coming in each week.
Perfect for New Businesses and Growing Businesses
Builders usually have lump-sum payments and then various progress payments, which tend to be scattered throughout the course of the financial year. Then at the end of the project, they might get a lump sum of a million dollars. So, it is not always easy to demonstrate a reliable income stream to the bank.
It is not like a milk bar or a service station that can easily show a steady cash flow each week. In many industries, cashflow is made up of irregular and larger more inconsistent one-off payments.
Faster and Easier than the Banks
If you come to HomeSec, you simply tell us about your project and how much you need, how much you stand to make on it, plus your exit strategy, that is all we need to see. We understand how small businesses operate. We are not like the bank, which can sometimes be so far removed from the average business owner that they lose all touch with how they actually function day-to-day to stay afloat.
We also do not need financials or projection figures for start-up businesses, which are obviously very difficult for them to obtain. So, if this is you and your new business venture, you can use HomeSec Business Finance as a start-up option. Then once you have your business up and running, and you have a steady cash flow, you can refinance through a mainstream lender.
What we often find is that the hardest thing for most businesses is usually the first big initial investment. Then once they get going, it is a lot easier, and they can refinance. You do need, however, a lender such as HomeSec to help you get your foot in the door, since the whole point of a loan is because you do not have the cash flow or the capital in the first place.
No Repayments for up to 6 Months
Another common scenario we get is when a builder needs funds for six months, but they have no cash flow during that period. In this case, they cannot make the repayments, but yet they stand to make a sizeable profit on the project, once it is completed. With most lenders, this builder would be left with no options, as the bank would reject the loan on the spot.
With HomeSec, we can prepay the interest for the term of the loan, and you can simply pay it at the end, once you have been paid. Conversely, if you do receive a large payment, and you pay us back earlier, we will rebate the interest.
So, if you pay us back in four months (on a six-month loan), then HomeSec, will rebate two-months’ worth of interest off the payout figure – saving you money! We are the only private lender in Australia who does this. This is because we pride ourselves on fairness.
So, do not waste time with other lenders who will have a new issue for every problem that you have. Talk to the lender who shares the vision for your business, and that is HomeSec.
Call us today and find out how we can help your business succeed and thrive. Or APPLY NOW to see if you qualify.