INTEREST ONLY BUSINESS LOANS

that can be funded in 24 hours

Interest-only business loans will assist you in achieving all the company goals sooner.

The business loans that come with an interest-only facility help the borrower make the repayments which will cover the specified interest amount within a particular period. The payments are usually lower than the funding, where you have to repay both the interest rate and the principal amount, but the loan balance will never be reduced.

At the term-end period, the borrower has to return the loan principal over the rest of the loan term. It implements that the payments for the interest and principal will be much higher than they have to pay before the interest-only period. A business loan with an interest-only clause primarily includes two types of repayments which are:

The principal which the loan or the initial amount the borrower will lend from a financial institution
Interest where a percentage of the balance will get charged by HomeSec and is payable along with the principal amount

Thus, with an interest-only business loan, the borrower has to repay the loan interest charges only and not the entire principal amount. It indicates that the actual balance of the funding will never decrease during the period where you have to pay the interest only.

Things You Need to Know about Interest-only funding for your business.

Let us now look at some of the most significant things you need to know about Interest-only business funding. They are as follows.

  • The borrower has to repay more amounts for interest rate during the entire loan tenure.

When the borrower is repaying both the interest and the principal amount, the balance will get reduced much before loan terms ending. Homesec calculates the interest based on the remaining principal loan amount balance. It means that the interest rates you will pay will also be reduced.

However, during the interest-only tenure months, the borrower does not have to pay for the principal funds. Since this will not decrease the loan amount, the borrower will repay more interest over the loan period.

  • There are restrictions on the period of interest-only repayment.

The borrower can always switch between the interest-only and principal repayment alternatives during their loan tenure. However, there are also restrictions on the time limit of the interest-only period for every business funding. These restrictions are applicable when you are requesting an extended or new interest-only phase.

What will happen when the interest-only phase expires?

When the extension for the interest-only phrase expires, the repayment of the business funding loans will get altered to the interest and principal. The repayment capital will also be enhanced when the borrower starts paying off the balance of the loan amount. It is significant to get ready for the changes and plan them accordingly.

What are the Features of the Interest only business loan?

It is easier to achieve all the tough and challenging goals with Interest only funding for the company. As per the loan title, you only need to pay the interest costs per month during a particular loan term. Mostly the loan term extends up to 5 years with full clearance at the approved end term. The borrower can apply for interest-only funding for their organization with a minimum of 20000 dollars maximum for five years. Now let us take a quick look into the features of this funding.

  • Repayments based on the interests only
  • No account keeping annual fees
  • Lower variable rates than the other competitive loans
  • Various options for the frequency of the repayments
  • Fixed-rate alternative
  • Only have to pay the loan application fee

What will you need for the interest-only business loan Application?

For applying for the interest-only business loan in an amount from 20000 to 1000000 dollars, you need to meet the following criteria.

  • The minimum term for the loan is for one year.
  • Option for loan extension with no fines or penalties
  • Fully tax-deductible funding option
  • HomeSec approves the fund within one day
  • No necessity for financial or valuation records
  • Only repayment of interest rate every month
  • Ideal for a startup or seasonal businesses
  • A tax overdue or a business with a poor credit history can also apply for the funds.

So give us a ring or contact us, if you are also facing some difficulties in arranging the capital for the business and need some financial solution as soon as possible.

Our INTEREST ONLY BUSINESS LOANS

1st & 2nd Mortgages

An INTEREST ONLY business loan is the perfect fit for business owners and commercial property investors who want a fast and temporary loan.   If they are after a business loan for a longer term than a 1 – 6 month Business Bridging Loan or Caveat Loan, then an Interest Only Business Loan is a logical choice for many reasons.

The main reason is affordability.  Rather than having to pay high monthly payments with a conventional business loan, a Business loan keeps your monthly payments to a minimum.  The other reason is speed and simplicity.  With HomeSec, our Business Loans can be funded in in 24 hours, and we don’t do valuations or require piles of paperwork.

Why are Interest Only business loans more affordable ?
Answer: Because you are only paying the interest each month, rather than having to make much higher payments with a Principal & Interest loan.   By only paying the interest each month during the term of the loan, it means you have lower monthly committments.  Plus you can pay it all out in one hit when an event happens such as a refinance or the sale of an asset.

Plus our business loans as very easy to get approved.  If you have sufficient equity in real estate, you are almost certain to be approved and funded within 24 hours.

At the end of the 12 month term, you can pay the INTEREST ONLY LOAN out (often through the sale of an asset, or refinance).  OR you can extend the loan with no additional fees. You simply continue to pay the interest each month.

As it is a business loan, all interest and costs are fully tax deductible.

What is Required?

  • Borrow from $20,000 to $1,000,000
  • Funds available in 24 hours
  • Minimum Loan Term is 12 Months
  • You can extend the loan without penalties
  • The loan is completely Tax deductable
  • Only make interest payments each month
  • No valuations or financial records required
  • Perfect for seasonal or new Start-up Businesses
  • A Poor Credit Score or Overdue Tax is OK

What Are These Business Loans?

An INTEREST ONLY business loan is effectively a 1st mortgage loan or a 2nd mortgage business loan.  So if you already have a conventional 1st mortgage, our 2nd mortgage sits behind your current 1st Mortgage with your bank.

Unlike a conventional Principal & Interest Loan, the monthly payments on our loans are much lower.  The reason is because as you are only paying the interest each month.

HomeSec Interest Only 1st and 2nd mortgages are perfect if you need access to a large sum of money by tomorrow.  If you want the funds for a longer term of 12 months or more, they are a better option than caveat loan or bridging loans.

Then you simply pay the interest each month during the term of the loan, and you can pay it out whenever you choose after the initial 12 month term is up. So they are both Fast and Flexible.

Mortgage and Finance Brokers and Accountants (our Partners) across Australia and New Zealand are also the winners.  This is because they are becoming increasingly aware of HomeSec’s 1st and 2nd Mortgage Business Loans.  As a result, these Partners are actively telling their small business and commercial clients about them.

This is a smart move, because mortgage brokers and accountants need to be able have a solution if a client comes to them urgently needing a large sum of money.   Often they can’t get their business clients approved with any of the Cash Flow Lenders.  This is due to servicability issues, poor credit score, business type or length of time in business.

None of that worries HomeSec Business Finance.  This is why our Interest Only Business Loans are the simple longer term solution for business owners.

Homesec Customers

Our Customers

Homesec came to the rescue when another short term lender would not let me extend my existing loan. Homesec paid them out and then allowed me to extend until I was in a position financially to pay them out. They are fair and flexible which is exactly what I was looking for.

Richard - Business Owner from QLD

The team at HomeSec are genuinely helpful and a pleasure to deal with. The online application app is very easy to use. Initially you only need to enter the minimal amount of information into the app to get a fast response from one of the BDMs. This is good news when I get busy. Highly recommend HomeSec.

John Cooper

Dealt with Vince Bolger for some urgent finance for a customer. His knowledge and his after hours response allowed me to find a quick finance solution for my clients and I was able to provide an awesome outcome/solution. Thanks Vince for your help and guidance.

Matthew Sharlassian

HomeSec where easy to deal with and understood the needs of small business the application process was simple and quick i couldn’t be happier with them

Melanie Davis

Vince from Home Sec was so easy to deal with. This was my first experience with this organisation. Simple process, easy for my clients to navigate their process. Will definitely be using them again if need be.

Brad Frost

Homesec is the go to funder for our clients’ short term funding requirements. Thoroughly professional and they deliver on time every time. Private funding can be a minefield so its god to know there’s one you can trust.

John Brice

Excellent people to deal with. Proactive, Commercial and Understanding. Highly recommend Paul, Jason and the rest of the HomeSec team for your private lending needs

Paul Dubois

I have been dealing with HomeSec for some time and always find them professional, prompt and fantastic to deal with

Peter Cook

Superior effort from the staff at HomeSec. Had my loan approved within a day with no problems. I Highly recommend their services.

Leon Mand

It was a pleasure working with HomeSec right from the beginning. They act with integrity and are very transparent with the service they provide. I would highly recommend using HomeSec Business Finance to anyone.

Courtney Cochrane

Dealing with Vince and the team at Homesec is always a pleasure, experts in their field, quick to answer any questions, clear communicators. If i could give 6 stars i would!

Anthony Bacic

If you have sufficient equity in real estate, you are almost certain to be APPROVED and funded within 24 hours.

Apply Now

Our Company

HomeSec Business Finance is Australia and New Zealand’s largest short term business lender and the trusted funder of choice for fast short term business loans.
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