Declined by Moula after they read your trading data?

If Moula declined your application after looking at your trading data, the cause is often a seasonal dip, books behind or BAS still to lodge. HomeSec does not connect to your accounting software or bank feeds. Loans of $20,000 to $5,000,000 are secured on real estate and assessed on equity, purpose and exit.

If Moula declined your application, or kept asking for data that was not ready, the assessment has probably run into how your trading looks on a screen rather than how the business actually performs over a year. HomeSec offers Australia's fastest and most flexible business loans, with up to 6 months no payments, and we do not need to see your trading data at all.

About Moula, briefly

Moula is an online lender to small and medium businesses, offering unsecured loans and a line of credit. Its assessment is built on the business's trading data. For a business with tidy, up-to-date books and even trading through the year, that can make borrowing quick and simple.

What trading data can show that a lender reads as risk

When the decision comes from the numbers in your systems, the usual stumbling blocks are about timing and housekeeping as much as performance:

• A seasonal trough in the window. A farm before harvest, a tourism business in the off-season, a builder through the wet. The data is accurate and still unrepresentative. Borrowing with seasonal or irregular cash flow.
• Books not reconciled. Unreconciled transactions, duplicate entries or a file nobody has touched since June can make a healthy business look chaotic.
• BAS or returns behind. Overdue lodgements are a red flag to a data-driven model, even when the tax position is under control. Tax returns not lodged.
• Sales below a minimum level. A monthly sales threshold is easy to fall under in the quiet part of the year.
• Income outside the systems. Contracts paid into a different account, or a second business line run separately, never make it into the data the lender sees.

A loan that does not depend on your data

There is nothing to connect and nothing to reconcile first. A HomeSec loan is secured on property, so we assess the property, the equity in it, what the money is for and how the loan is repaid. We do not ask for financials, BAS, tax returns or bank statements, and there is no serviceability test.

That suits a seasonal business especially well. Interest can be prepaid or added to the loan for up to six months, so a loan taken in the trough does not have to be serviced until the season turns, and the term is open, so you are not racing a fixed end date.

Who this matters most to

Farmers, tourism and hospitality operators in holiday regions, and any business whose year has a long quiet stretch. See agriculture and farming and cafés, restaurants and pubs.

What to do in the next 24 hours

1. Leave the books as they are for now. Tidying them is worth doing, but it does not need to happen before you talk to us.
2. Note when your busy season starts. It helps shape a loan that lines up with when money comes in.
3. Gather the property details: address, rough value and what is owing on it.
4. Think about the exit. The season's takings, a sale, a refinance once the books are up to date.
5. Call a Lending Manager for an indicative answer, usually on the call.