Fast business loans in Sydney and across NSW

Sydney property has done a lot of heavy lifting over the past decade. For many business owners, the equity in their home or their commercial premises is now worth far more than anything a cash flow lender will offer on the strength of their bank statements. A fast business loan secured by that property puts it to work, without the weeks of waiting a bank needs.

How fast business loans work in New South Wales

In most of Australia, a short-term private business loan can be secured with a caveat on the property title. New South Wales is different. Here the loan is secured by a registered second mortgage, lodged with NSW Land Registry Services. If the property has no loan on it, the business loan can be registered as a first mortgage instead.

For you, the process looks the same:

1. Enquire in about 60 seconds. There’s no credit check to enquire.
2. Take the call. A lending manager usually rings within 30 minutes during business hours, with an indicative answer.
3. Conditional approval. Photo ID, the council rates notice and your latest mortgage statement. Every cost is spelt out before you commit.
4. Searches and loan documents. Once you sign the approval, due diligence and title searches are done and the loan agreements are issued.
5. Funds in your account. Sign the agreements and the money can land in as little as 24 hours.

No valuation is needed before approval. That alone saves days compared with a bank.

Where in NSW we lend

Property anywhere in New South Wales can be considered:

• Greater Sydney: from the CBD and the eastern suburbs to Parramatta, Blacktown, Penrith, Liverpool, Campbelltown and the Hills District
• Northern Beaches and the North Shore
• Central Coast: Gosford, Wyong and Terrigal
• Hunter and Newcastle, including Maitland and Cessnock
• Illawarra: Wollongong, Shellharbour and Kiama
• Regional NSW: Albury, Wagga Wagga, Orange, Dubbo, Tamworth, Port Macquarie, Coffs Harbour and beyond

Commercial property such as warehouses in western Sydney, shops, offices and factories can be used, as well as homes and investment properties.

What Sydney businesses use fast loans for

The reasons are as varied as the city itself, but a few come up again and again:

• Builders and trades waiting on a progress claim while subcontractors and suppliers need paying
• Importers and wholesalers paying for a container before the goods can be released from Port Botany
• Hospitality owners fitting out a new venue or covering a quiet winter
• Professional practices buying out a retiring partner
• Any business with an ATO debt that needs clearing before it turns into a director penalty notice or a garnishee

When a cash flow lender says no

Sydney has no shortage of online lenders offering fast unsecured loans. The catch is that they lend a slice of your monthly turnover, they decide on your bank statements, and they often say no to anyone with an ATO debt or another lender’s debits on their account. If you own property in NSW with enough equity, a second mortgage business loan is decided on that equity instead. Read what to do when a cash flow lender says no.

A NSW example

A family-owned joinery in Smithfield wins a large fit-out contract for a hotel in the CBD. The builder pays 45 days after each stage, but the timber, hardware and extra staff are needed now. The owners have equity in their home in the Hills District.

A second mortgage business loan of $350k sits behind their existing home loan. There are no repayments for the first 6 months, with the interest added to the loan. When the final stage payment arrives, they repay the loan early, without penalty.

Using commercial property in Sydney

If your business owns its warehouse in Wetherill Park, an office in North Sydney or a shop in Parramatta, that commercial property can secure the loan, keeping your home out of the deal. Property held in a company or family trust is common and not a problem.

Terms that suit Sydney business owners

• $20k to $5 million, for business purposes only
• Up to 6 months with no repayments, or prepay the interest if you prefer
• Repay early at any time, and extend without penalties if a sale or refinance runs late
• Past credit issues and ATO debt considered case by case

Get ready tonight

Find your latest council rates notice (City of Sydney, Parramatta, Blacktown or wherever the property is), your latest mortgage statement and a photo of your driver’s licence. Write two lines on what the money is for and how you’ll pay it back. Then send your enquiry. It takes about 60 seconds, and a real person picks it up.

Elsewhere in Australia? See fast business loans in Melbourne and Victoria, Brisbane and Queensland, Perth and WA, Adelaide and SA and Hobart and Tasmania.