Short term loans are used for a specific urgent purpose, to solve a short term problem. It is important to have a definite loan takeout strategy by way of refinance or sale.
Fast Short Term Loan Approvals within a Day and Settlements possible with 24 hours (subject to T&Cs)
Call 1300 550 669
1st MORTGAGES from $100,000 to no upper limit
Terms from 1 month to 12 months.
Interest rates start from 7.5% p.a.
2nd MORTGAGES from $100,000 to no upper limit
Terms from 1 month to 12 months.
Interest rates start from 16.75% p.a.
Secured by Real Estate
Business Loans
FAST SETTLEMENTS – some settlements can occur within 1 day.
Go to our Business Loans page
Call 1300 550 669
Business Purposes Only (over 50% of loan)
There are many scenarios where short term finance will be useful:
- To provide a short term loan to settle an urgent loan where time is of the essence, while you wait for a cheaper loan to be approved and settled.
- Payout the ATO (Australian Taxation Office) with short term finance which will then allow you to refinance with a lower interest rate lender.
- Use short term finance to payout aggressive creditors who are threatening to default you or place you in administration, receivership, liquidation or in bankruptcy.
- If you are already in default, administration, receivership or liquidation we can payout the debt with a short term loan, with the view to refinancing with a private lender for a longer period while you repair your credit rating.
- Other purposes.
Short term property loans are far more expensive than a traditional 1st mortgage finance due to the short time frame and inherit risk to the lender.
Short term finance interest rates can vary from 7.5% per annum to 2% per month, depending on whether the loan is secured by a first mortgage or second mortgage, the nature of the loan and risk to the lender.
All short term loans must be secured by real estate.
Loans must always have a clear exit strategy to payout the loan before the end of the short term property finance facility expires. If the short term loan is not paid out on time penalty interest will usually be incurred by the borrower.
Example: you may have a development finance or property loan application in with a Bank and it is going to take more time to settle with the Bank than first envisaged, although you will lose the property you are buying if you do not settle. This is when a short term property finance will solve the problem.
Business Loans – Unsecured
We have business loans available, which are unsecured business loans. These loans are assessed by providing your business bank statements; proving your business income and potential repayment capacity.
Go to Business Loans
Call us on 1300 550 669 or complete the inquiry form below.
Bankrupt exclusion could be shortened
The federal government is considering relaxing personal bankruptcy laws to reduce the three-year ‘‘exclusion period’’ for individuals declared bankrupt to as low as one year, to help financially stricken people and small businesses get back on their feet faster following the recession. A reduction in the blacklisting time would help encourage sole traders and entrepreneurs to start new business activities. The federal government is considering relaxing personal bankruptcy laws to help financially stricken people and small businesses get back on their feet faster following the recession.
Attorney-General Christian Porter’s department is consulting with stakeholders on reducing the three-year ‘‘exclusion period’’ for individuals declared bankrupt to as low as one year, government and industry sources said.
Courtesy AFR John Kehoe read more
Q&A
A short term loan, also known as a bridging loan, is a property-secured facility designed to provide funds for an urgent purpose where time is critical. Terms typically range from one to twelve months.
Common uses include bridging settlement on a new property, paying out the Australian Taxation Office, clearing aggressive creditors, averting administration or bankruptcy, funding urgent business opportunities and refinancing expiring facilities.
Short term loan rates vary from approximately 7.5 percent per annum for first-mortgage secured low-risk scenarios up to around 2 percent per month for higher-risk second-mortgage or complex urgent loans. Pricing is quoted per application.
Terms typically range from one month to twelve months, with six months being the most common. Extensions are available where circumstances require.
Short term loans are secured by registered first or second mortgage over Australian real estate. Residential, commercial, industrial and development sites are all considered.
Short term loan amounts typically range from $200,000 to $50 million or more, depending on the security, loan-to-value ratio and purpose.
Short term loans are designed to settle quickly, often within one to two weeks from engagement, subject to valuation, legal documentation and borrower identification.
Short term loans typically rely on asset-backed assessment rather than traditional income verification, given the brief term and capitalised interest structure.
Yes. Short term loans are frequently used by borrowers with credit impairment, including paid and unpaid defaults, judgments or prior bankruptcy, subject to adjusted pricing and LVR.
A clear exit strategy is required at application and usually involves refinance to a mainstream lender, sale of an asset, receipt of pending funds or completion of a property transaction.