Low Doc Business Loans
Small business loans come in many forms today, from “unsecured business loans” that provide fast, short term funding to take advantage of an opportunity, to a “short term business loan” to cover a shortfall. There are more small business finance options to consider than the standard business loans the banks offer. Business loans can be used for any genuine business purpose too, there aren’t any restrictions. Over 50% of Australian small businesses have a loan facility of some description. Today, you do not have to offer any collateral or security to get a business loan. See below types of Low Doc Business Loans that are available.
Secured and unsecured business loans for any purpose, from working capital to covering unexpected expenses. Simple application process and fast decision.
A secured or unsecured overdraft facility for businesses with high turnover. Only pay interest on the amount you use.
Business Lines of Credit:
An agreed loan amount is made available to you that you can access at any time, and only pay interest on the amount you draw down.
- Extremely flexible – draw and repay funds as you need them
- No minimum amount – only borrow and pay interest on what you need – usually calculated daily
Invoice Finance is also known as “factoring” is when you sell your invoices to a lender. The lender will forward you up to 80% immediately of the invoiced amount and become responsible for collecting payment. This then gives you an immediate injection of cash – no need to wait for payment of invoices
Merchant Cash Advance:
With Merchant Cash Advance a lender will provide you with a lump sum payment in advance and then collect repayment (and their fees) as an agreed percentage from your daily sales.