Declined by Capify when the bank account undersells your business?

If Capify declined you, or offered far less than you need, it is often because the takings that reach your bank account understate the business, especially where customers pay cash. HomeSec does not size loans from deposits. We lend $20,000 to $5,000,000 against equity in real estate, with no bank statements and up to six months of no repayments.

If Capify declined your application, or came back with a figure that would not cover what you need, the gap is often between what the business takes and what the bank account shows. HomeSec offers Australia's fastest and most flexible business loans, with up to 6 months no payments, and the amount is set by the equity in property, not by your deposits.

About Capify, briefly

Capify was one of the early alternative lenders to Australian small businesses, offering unsecured funding to businesses that banks often would not. For a business whose takings flow steadily through the account, unsecured funding of that kind can be a quick way to cover a gap.

When the account tells only part of the story

Unsecured lenders size what they offer from what they can see. These are the situations where what they see is smaller than the business:

• Customers who pay cash. Hairdressers, mechanics, takeaway shops, market stalls, cleaners paid on the day. Cash that goes on wages, stock or the float before it is banked never shows up as turnover.
• Card takings through more than one provider. Two terminals, a delivery platform and an online store can each settle to a different account.
• A short, recent history. Only a few months of deposits gives a small base to size from.
• Takings that are uneven week to week. A strong Saturday and a dead Tuesday average out to a figure that does not reflect either.
• A request bigger than the deposits support. A fit-out, a second site or new equipment can need far more than a few weeks of takings, whatever the business is worth.

An amount set by property, not by deposits

We never look at deposits. A HomeSec loan is assessed on the property, the equity in it, what the money is for and how it is repaid. If the property supports the figure you need, that is the figure we look at: up to 80% of a residential property's value or 70% of a commercial one, less what is owing, from $20,000 to $5,000,000.

There are also no daily or weekly debits. Interest can be prepaid or added to the loan for up to six months, and the term is open, so the loan does not take a slice of every day's takings.

Businesses we hear this from

Salons and studios, mechanics and panel shops, cleaning businesses and small food outlets. See beauty, fitness and wellness, automotive and cleaning and facility services.

What to do in the next 24 hours

1. Work out the real figure you need. Not the figure the last offer suggested. The whole job, fit-out or purchase.
2. Skip the statements. You will not need them for a property-secured loan.
3. Get the property details together: address, a rough value and what is owing.
4. Know how it gets repaid. A refinance later, a sale, or the business's own earnings over time.
5. Ring us. An indicative answer usually comes on the first call.