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?
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.