Your client needs the money tomorrow

The question in the video, from your side of the desk

In this video Paul asks a business owner what they would do if the business needed a large sum of money by tomorrow. Most people think of the bank, and most people know the bank cannot move that quickly. Many have never heard of a short-term business loan secured by property, and the first person who tells them about it is usually the person they keep dealing with. That should be you.

When that client rings, you have two jobs: get them an answer the same day, and make sure the fast loan has a way out. The rest of this page is how.

The speed path

1. Call it in with the Simple Seven

   Ring 1300 93 83 87 or lodge a scenario in the portal: value, address, debt and lender, amount, term, people on title, purpose. Say the deadline in the first sentence.

2. Indicative answer

   A Lending Manager calls you back, usually within 30 minutes in business hours, with a yes or no and what the deal needs.

3. Lodge and send three documents

   Photo ID, the rates notice and the latest mortgage statement. The conditional approval follows, with every cost set out.

4. Client signs, lawyers move

   The client signs the conditional approval digitally, due diligence runs alongside, and the loan agreements are signed with their lawyer.

5. Funds in your account

   In as little as 24 hours from a clean, complete scenario. Your brokerage is paid the same day.

Funding times are from a clean, complete scenario. All loans are subject to assessment and approval.

What speeds an urgent deal up

The urgent scenarios we see every week

What we need from you

• The Simple Seven: the estimated property value, the address, what is owed and to whom, the amount, the term, the people on title and the purpose.
• The deadline, and what happens if it is missed.
• The exit, with a date or a process behind it.
• Three documents once the client wants to proceed: photo ID, the rates notice and the latest mortgage statement.

That is all. No financials, no tax returns and no valuation. We assess value ourselves and decide on the equity and the exit.

Keep the client while the bank refinances

Paul's point in the video is that a short-term loan should be held for the shortest time possible, and that the exit is usually a refinance through a bank. That is good news for you. The HomeSec loan solves today's problem; the bank refinance is the second deal, and it is yours. The client never had to hear the word "no", and you were the one who found the answer.

Because there are up to 6 months with no repayments, no early repayment penalty and no fee to extend, a refinance that takes longer than the bank promised does not become a crisis of its own. The client keeps the loan until the bank is ready, then repays it in full.

Broker A or Broker B shows the same call played two ways, and what it does to the client relationship.

Talking to the client about cost

A loan built to settle tomorrow costs more than a bank loan that settles in two months, and the client should hear that from you first. The useful comparison is not with the bank's price; it is with the cost of missing the deadline: the garnishee, the lost supplier, the settlement that falls over. Every cost is set out in the conditional approval before the client commits, and the client is under no obligation to proceed.

Reviewed by Jason Brockmuller, Joint Chief Executive