One question that keeps coming up lately is…
Why is HomeSec the only private lender that capitalises interest for the entire term of the loan?
And it’s a very good question indeed! The simple answer is…. it’s called bridging finance folks!
The reality is all lenders should be doing the same, but that would mean they couldn’t charge the higher rate after the first month…cough cough…hide their fees!
The point of short-term business loans are to help cash-flow, and you need to be able to go about your day running your business, and still be able to comfortably pay your mortgage, wages etc.
That’s why when you borrow money from HomeSec Business Finance for any business opportunity, you don’t need to worry about any interest payments during the term of the loan. You can then pay back the loan once you have sold the stock, or refinanced. (as an example)
On a positive note to finish off, if you have a client that is in rescission on a property settlement, we can settle it the same day. We’re seeing this increasingly become an issue with brokers, as the banks are taking a lot longer to settle.