Guide · applying

Do you qualify for a business loan?

Four things decide it: an active ABN and a genuine business purpose, Australian real property with enough equity, a position on title we can take, and a credible way the loan is repaid. There is no minimum turnover, no minimum trading period, no serviceability test and no credit score threshold.

The four tests

Test	What it means
A business purpose	An active ABN and money used for the business or for a commercial investment. Not personal, domestic or household purposes.
Australian real property with equity	Residential, commercial, rural or vacant land, owned by you, your company, your trust or someone willing to support the loan. More than one property can be combined.
A position we can take	A first or second mortgage, or a caveat. We do not lend third behind two existing mortgages.
A credible exit	How the loan gets repaid: a debtor paying, a claim settling, a property selling, a refinance completing, a season turning. Documented beats intended.

What is not assessed at all

Serviceability. No income test, no debt-to-income calculation, no modelling of whether your earnings support the repayment.
Turnover. No minimum, and revenue does not set the amount. The equity does.
Trading history. No minimum period. Start-ups and newly acquired businesses are considered on the same basis as established ones.
Credit score. No threshold. A credit file is read as context, with your consent, at formal approval — never as an automatic decline.
Financial statements. Not required at any stage — no tax returns, BAS, bank statements or cash-flow records.
A valuation. We assess the property ourselves and do not order a sworn valuation, which removes a fee and a week.

How much you would be eligible to borrow

Take the property's value, multiply by 80% for residential security or 70% for commercial, and subtract what is already owing on it. What is left is roughly what is available, between $20,000 and $5,000,000. Up to 80% on residential and 70% on commercial. Lower on large acreage, and LVRs may reduce on properties worth less than $800,000. Worked examples of that calculation.

Where the answer is no

Worth stating as plainly as the yes, because finding out in week three is expensive.

No real property anywhere in the ownership group. Then we are not the right lender. An unsecured cashflow lender, invoice finance or equipment finance may be — the comparison is here.
A third-ranking position behind two existing mortgages. There is generally not enough equity left for the position to make sense.
A personal, domestic or household purpose. Regulated consumer credit is a different kind of lending with a different licence behind it, and we do not write it.
A business that is losing money on every job. Not a rule, a judgement — but borrowing against your property does not fix a business that cannot trade profitably, and adding the house to that problem makes it worse. The alternative worth reading.

You will hear any of those on the first call rather than after a commitment fee, which is the only part of this page that costs us anything.

Finding out for certain, today

Seven details, none of them a document: what the property is roughly worth, its address, what is owed on it and to whom, how much you want, how long for, how many people are on the title, and what the money is for. A Lending Manager gives an indicative yes or no in minutes, with no credit check involved in that answer. What happens after that is three documents and about fifteen minutes.

If the number was not the whole problem

This is usually the last thing someone checks before they pick up the phone — so here is the short version, including the part where the answer is no.

If you are reading this because money is tight, it may be that what you actually need is fast business finance — and HomeSec can lend with very few qualification criteria. All you need is sufficient equity in real estate and a business purpose: no financials, no valuation, no credit score threshold, funded in as little as 24 hours from a clean, complete scenario. Best of all, the first six months can come with no requirement to make any payment.

That's the HomeSec Advantage.

Questions people ask alongside this one

Am I eligible for a business loan with HomeSec?

Four things: an active ABN and a genuine business or commercial investment purpose, Australian real property with enough equity in it, a position on title we can take — a first or second mortgage, or a caveat — and a credible way the loan gets repaid. Nothing else. No minimum turnover, no minimum trading period, no serviceability test and no credit score threshold.

Is there a minimum trading period?

No. Start-ups are considered, including businesses that have not yet traded. What carries the file is the property, the purpose and the exit rather than a history we have no way of testing anyway.

Is there a minimum turnover?

No, and there is no turnover test at all. The amount is set by the equity in the property, not by revenue, which is the reason this works for a business whose income is lumpy or has just dipped.

Do I need good credit?

No. There is no credit score threshold. Defaults, judgments, arrears, a thin file and an ATO balance are all common on the files we write and none of them is disqualifying on its own.

Does the business need to own the property?

No. The borrower can be a company, trust or sole trader while the security is a property owned by a director or another party, provided everyone on the title signs and understands what they are giving.

What if I already have a mortgage on the property?

That is the usual situation. We sit behind your existing lender as a second mortgage, or by caveat where timing will not allow their consent, and your current loan is untouched. The available amount is 80% of the property's value for residential or 70% for commercial, less what is already owing.

What makes someone ineligible?

No real-estate security to offer, a loan that would sit third behind two existing mortgages, or money for personal or domestic purposes — those are not HomeSec loans, and we will tell you inside the first phone call rather than three weeks in.

Can I use the money for anything?

HomeSec provides credit wholly and exclusively for business and investment purposes. Credit for personal, domestic or household purposes is regulated consumer credit and is a different kind of lending, which we do not write. If part of what you are funding is personal, say so on the first call and you will get a straight answer immediately.

How do I find out for certain?

One phone call. A Lending Manager will give you an indicative yes or no in minutes from seven details, none of which is a document, and no credit check is involved in getting that answer.

Sixty seconds, no documents

See if you qualify in sixty seconds

Three short questions, no credit check to apply and no financial statements. A Lending Manager reads it and calls you back with a real answer — not a call centre, not an algorithm.

That's the HomeSec Advantage.

See if you qualify Call 1300 93 83 87Mon–Fri, 8:30am – 5:30pm Melbourne time

Other things business owners look up

Find your director ID Find your ABN or ACN Find your company's TFN Find your ATO payment reference If your ABN is cancelled Set up an ATO payment plan What a caveat on a title means What LVR means, with examples Get a copy of your rates notice Get a mortgage payout figure Do you need financials?How long it takes Secured vs unsecured No credit check, honestly Check if a company is in liquidation What a business is worth Small business restructuring Every guide

Reviewed by Matt Hempel, National Credit Manager