What happens when you call about a business loan
What actually happens on the first call to HomeSec: you speak with the people who assess the loan, not a call centre or a scorecard, and a conditional answer is often possible before you hang up.
- You speak with a Lending Manager, one of the people who assess and decide loans. There is no call centre in between.
- The call covers three things: what the money is for, the property behind it and how it will be repaid.
- A conditional answer is often possible before you hang up.
- From a clean, complete file, funding is possible in as little as 24 hours.
Who answers
The video's first point is the one that surprises people: the person on the phone is one of the people who assess your loan. Every application is read by a Lending Manager and every credit decision is signed off by a person. We do not use artificial intelligence to assess, approve, decline or price a loan. So the call is not a screening step before the real assessment. It is the start of the assessment.
What the call covers
- What the money is for. The purpose decides whether it is business lending and usually tells us what the exit will be.
- The property behind it. Where it is, roughly what it is worth and what is owed on it. That gives the equity.
- How it will be repaid. A sale, a payment you are expecting, or a refinance. The exit only has to be able to happen within the term, and the term is open.
That is the whole conversation. There are no questions about two years of profit, no serviceability calculation and no request for financial statements, because none of them decide a loan secured on property.
What happens after the call
If the conditional answer is yes, you complete a short application and send three documents. A Letter of Offer follows, a local agent appraises the property, lawyers draw the contracts and you sign with your own solicitor. Funding is possible in as little as 24 hours from a clean, complete scenario. The HomeSec clock walks through each step and where the time goes.
Before you call
Have the three answers ready and the call goes quickly. What to have ready is the thirty-second checklist. Lending Managers are on 1300 93 83 87, Mon–Fri, 8:30am – 5:30pm Melbourne time.
Read the transcript
Ever wondered what happens when you call HomeSec about a business loan? You talk to the people who assess your loan. No call centre and no scorecard. Tell us what the money's for, the property behind it, and how you'll repay it. Often you'll get a conditional answer on that very first call. Then funding can happen in as little as 24 hours, subject to approval. HomeSec Business Finance, Australia's fastest and most flexible business loans.
Transcribed from the recording's own captions, with the spelling of HomeSec corrected.
Questions people ask next
Is the first call an application?
What is a conditional answer?
When can I call?
The video is the short version. The written guide has the detail: how long a business loan takes, step by step.
To talk it through about your own property, ring a Lending Manager on 1300 93 83 87, Mon–Fri, 8:30am – 5:30pm Melbourne time.
More videos
See if you qualify in sixty seconds
Three short questions, no credit check to apply and no financial statements. A Lending Manager reads it and calls you back with a real answer — not a call centre, not an algorithm.
That's the HomeSec Advantage.
Reviewed by Jason Brockmuller, Joint Chief Executive