Declined by Bizcap, or refused a top-up?

If Bizcap declined your application or a top-up, it is often because existing daily or weekly repayments already take up the room a cash flow lender allows. HomeSec assesses equity in real estate instead, lending $20,000 to $5,000,000, and can pay out those repayments so the business has nothing to pay for up to six months.

If Bizcap declined your application, or said no to a top-up on an advance you already have, the question is usually not whether the business is any good. It is how much of each week's takings is already spoken for. HomeSec offers Australia's fastest and most flexible business loans, with up to 6 months no payments, and that breathing space is often exactly what a business carrying frequent repayments needs.

About Bizcap, briefly

Bizcap provides fast business funding to small and medium businesses in Australia and New Zealand. Most of its lending is unsecured and cash-flow based, and it also does some secured lending. For a business that needs a quick, modest amount and has the trading to support regular repayments, that model works well.

Why a top-up or a second advance gets declined

Most people who ring us after a cash flow lender says no to more money are in one of these positions:

• The account is already carrying repayments. Each daily or weekly debit reduces what a cash flow lender thinks the business can take on next, whoever the earlier lender was.
• Several advances at once. Two or three advances from different lenders running together is sometimes called stacking, and many lenders will not add another. What stacking does to cash flow.
• A missed or late debit. One repayment that bounced during a slow week can weigh more than months of steady ones.
• Takings that dipped after the first advance. If the business is quieter now than when the first advance was written, the second assessment starts from the lower number.
• A request for security you would rather structure yourself. If property is going to be offered anyway, it can make sense to go to a lender whose whole assessment is the property.

Swap frequent repayments for a loan with none for six months

A HomeSec loan can pay out the advances you have now in one go, so the daily or weekly debits stop. Interest on the new loan can be prepaid or added to the loan for up to six months, which means nothing comes out of the account while the business catches its breath. After that, the term is open, there is no penalty for repaying early, and when a bank refinance is ready it simply repays the HomeSec loan.

We assess the property, the equity in it, what the money is for and how it is repaid. Existing advances, a missed debit or a credit file that has taken a knock along the way are part of the story, not the end of it. More on consolidating business debts and getting out of a merchant cash advance.

Who we hear this from most

Trades and transport businesses come up often: lumpy invoices, fuel and materials paid weekly, and a repayment schedule that does not care which week the big customer pays. See business loans for tradies and transport operators.

What to do in the next 24 hours

1. List every repayment coming out. Lender, amount, how often and roughly what is left owing on each.
2. Ask each lender for a payout figure. That turns a list of debits into one number we can work with.
3. Note the property details. Address, a rough value and what is owing on it. No valuation is needed.
4. Work out the total you need. The payouts plus whatever the business needed the top-up for in the first place.
5. Call us before applying anywhere else. Another enquiry on the file does not help, and one call tells you whether it works.