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How to Borrow Money For Your Projects
WARNING: BEWARE OF BANKS, BROKERS, & OTHER TIMEWASTERS! As a busy Commercial Lender, we often see Borrowers seeking funds who report many weeks and even months that have been wasted talking with "High Street'' type brokers and lenders who do not even understand their basic requirements. These service providers are usually talking with retail, residential only markets , and often quite simply just do not understand business requirements. In quite a lot of cases, the prospective Borrower has also been required to produce literally dozens of items of information and forms, wasted more weeks and months, and then been refused because the Lender or Broker simply did not understand their issues in the first place. Often, it is discovered the Client would have saved themselves valuable time and even more valuable money by enquiring direct to a professional Commercial Lender. It's really not a hard equation or rocket science either. The Lender should just ask what you really need, how much, and when. If the Lender does have funds, a written offer should be produced within several days. Not weeks or months. A few days is adequate for the Lender to ascertain if the deal is fundable. To save your time, here are the basic items you will need when borrowing, which will enable fast processing and the fastest possible delivery of your loan. 1..100 points identification of borrower.
2..Recent council rates notice for the security property(s). In the case of a company needing funds, an Asset & Liabilty sheet will be required to create a Debenture or Charge to secure the Loan.
3..Copy of a current mortgage notices.
4..Proof of income /serviceability of the proposed loan, or an exit stategy to guarantee repayment. |
Australia-Fast Finance
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