Secured loans for bad credit can assist you in consolidating Your Debts
Sometimes the business owners need to borrow a massive capital amount with a longer term, mostly when they are suffering from bad credit history. This kind of funding is perfect as it will offer the borrower an outstanding opportunity for gaining finance when it is almost impossible to arrange. Secured loans offer the borrower a golden opportunity for purchasing brand new equipment, factory renovation finance, or paying the remaining salaries of the employees.
Secured funding allows the borrower to receive a high amount of finance with flexible rates and loan terms. But there are certain factors that you should always consider before applying for a secured fund. You have to submit a property or an asset as a security to renowned financial institutions like HomeSec. If by any means, the borrower cannot repay the loan amount, then we can seize the submitted property to procure the needed capital. Now let us take a quick look into the advantages of secured loans below.
- Low fees and competitive interest rates
- Offer higher limits on the borrowing amount
- It includes longer timeframes for the repayment of the loan
- One of the best ways to improve your bad credit score
- Timely monthly repayments will make you a potential candidate for loan approval with a good credit history
- Faster and hassle-free approval of loans due to lower risk
What Type of Assets Can I submit as collateral for secure funding?
You can submit any following as a security for the approval of a secured fund, depending on the loan amount you are applying for.
You can submit a vehicle you have just bought as collateral for the loan. HomSec even considers a two-year-old used vehicle as a new one and approves the loan as per its value.
In the same way as above, you can also keep your used vehicle as collateral for getting the required amount of secured loan. Usually, the cut-off age for the used vehicles ranges from 7 to 10 years, but it also depends on the car condition, usage, and maintenance.
If you are an owner of a property or an asset, you can also submit it as a security to get your secured loans for bad credit approved with no hassle.
Other expensive properties
If the borrower has any valuable antiques, jewelry, art, or any other expensive properties, they can submit these also as collateral to get the required loan amount.
How Can I Apply for Secured Funding from HomeSec?
The secured funding application process of HomeSec, even with bad credit, is efficient and fast. Unlike conventional banks, HomeSec needs fewer documents and provides enhanced leniency. Due to this, the procedure starts from the loan application till the time it gets approved, and receiving the amount in your bank account is only a matter of a few days. You can apply for the funding in the following ways.
- Click on the loan application form.
- Fill the form carefully with all the accurate information
- Our financial expert will get in touch with and know about your requirements
- Upload the required documents for verification
- The loan will get approved by us
- The necessary funds will get transferred to the borrower’s account within 2 to 3 days.
What are the Different Interest Alternatives for a secured loan?
When it is a question of secured loans for bad credit, HomeSec generally offers the following type to the borrower.
Loans with fixed rates usually come with high interest rates. But once you have locked the interest rate with us, the repayment amount will never change.
The funding with variable rates includes lower interest rates than the fixed-rate ones. But you have to keep in mind that they can alter anytime.
Is it Possible to Pay the Entire Secured Loan early?
It is possible to pay off the entire loan amount early with HomeSec. However, you might have to pay some additional fees depending on the time left for the loan to get paid. Loans with variable interest rates deliver more flexible options such as early fund repayments. Loans with a fixed rate will never allow this, and if it allows, there are numerous additional fees like early penalties or break costs.
If you are also in need of emergency secured loans for bad credit, HomeSec will help you in every step to get the best value funds as per your requirements. So call us today to know more!
We fund these loans from $20,000 to $2,000,000 in 24 hours
Secured Business Loans are all we fund, which makes us the Secured Business Loan Specialists. We are one of Australia’s largest funders of Secured Business Loans, which includes our Bridging Loans, Caveat Loans, plus our Interest Only 1st and 2nd Mortgage Loans.
Our secured business loans help business owners, builders, property developers, and commercial property investors with the funding they need to help them grow, or save them from a crisis.
We are the lender of choice to when you need a large sum of money for your business BY TOMORROW. Best of all, you don’t want the hassle of having to provide a mountain of paperwork, provide cashflow records, and be asked 100 questions.
You just want to get the funding you need in 24 hours so you can get on with the job.
SECURED BUSINESS LOANS are often the only solution available.
WHY? Most unsecured business lenders will not fund you if you have….
- A poor credit score
- Unpaid tax debts
- Limited trading history (or a new business start up)
- Irregular or seasonal cashflow
- In an industry they don’t like
- Serviceability issues
- Loan amount too high
HomeSec has no issue with any of these things, which is why we are a lifesaver to business owners across Australia.
We fund 3 types of Secured Business Loans…
No Payments during the loan term of 1 – 6 months
No Payments during the loan term of 1 – 6 months
Interest Only payments. Minimum Term of 12 months
We don’t do valuations and ALL 3 CAN BE FUNDED IN JUST 24 HOURS!
What is Required?
- Interest Only payments on our 1st and 2nd mortgage loans
What are Secured Business Loans?
Been Declined by Unsecured Cashflow Lenders?
Your looking for a longer term business loan (of 12 months or more), and you have tried the bank and the Cash Flow Lenders and they can’t fund you. Thankfully, as long as you have sufficient equity in a piece of real estate, we will fund you.
HomeSec short term Caveat Loans and Bridging Loans are the lowest of Lo Doc loans you will ever find. The reason is because we only need 3 thing items from you, and if you have enough equity in real estate, we will fund you. The interest is capitalised into the loan. This means you don’t have to pay a cent during the loan term.
Our 2nd Mortgage Loans often have lower monthly payments as they are an “interest only” loan. In addition, we will fund any industry, and your credit score and payment history is irrelevant.
Plus we can fund you in just 24 hours from the time you apply, and without all the hassle of providing cashflow records and tax returns.
Mortgage and Finance Brokers
HomeSec Secured Business Loans are a huge hit with Mortgage Brokers, Finance Brokers and Accountants across Australia and New Zealand. This is because these professionals are becoming aware of HomeSec Business Finance Caveat Loans, Business Bridging Loans and 1st / 2nd Mortgage Loans, and are actively telling their small business and commercial clients about them.
This is a smart move, because brokers and accountants need to be able have a solution if a business client comes to them needing a large sum of money, and they can’t get them approved with the banks or any of the Cash Flow Lenders due to servicability issues, poor credit score, business type or length of time in business.
None of that worries HomeSec, and we can fund business customers in just 24 hours from the time they apply.