Valid question! What is private business lending? And why will it work for you?
At first glance you might think private lending is asking your Great Uncle Brian to bankroll you or to start a Go Fund Me page and whilst they are both ways you might arrange funds for your small or medium business they are not the same as Private Business Lending.
The Cambridge Dictionary defines it as:
noun – lending by a person or an organization to people who are having difficulty getting loans, usually at a higher rate of interest than a bank would charge
And this is exactly what it is! It may also be referred to as commercial finance, commercial lending or business finance.
Private Business Lending is offered by agencies or organisations (like us here at Equity Tap) as an option for small to medium enterprises to loan money that helps them grow, get over problems with cash flow, finances expansion plans or expedite hurdles that arise in the business cycle.
In the past few years more and more businesses are turning to private lending due to the frustrations felt when dealing with banks.
Unlike traditional lenders, the process of private business lending works fast, has higher approval rates and can even offer access to cash (as soon as the next day!).
Now you might be thinking ‘what’s the catch?’. There isn’t one! Private loans usually carry higher interest rates, sure! But it’s for good reason as it usually reflects the risk in underwriting the deal. Weighing it up, a private business loan solves huge problems for business owners and can be extremely useful and practical when it comes to accessing fast cash.
Other advantages include:
- Low setup costs
- More flexible criteria
- Access even if you have poor credit rating
- More control over the process
- Speedy approvals and funding
- Less stress and hassle than dealing with a traditional lender
Here at Equity Tap we aim to tap into your equity so that you have fast, flexible finance.
With solutions that include bridging loans, caveat loans, 1st mortgages, 2nd mortgages, equity release loans and more, the ability to unlock funds is now easier than ever. So whether you:
- have sold a property but need the surplus cash right now
- are asset rich but cash poor
- have found a property to buy but need bridging finance
- are waiting on settlement and need funds now
Equity Tap can arrange loans from 100k to $10m that are across 1 month or up to 12 months. All with no hidden fees or charges.
We do this because we know how important it is for small business operators to do what you do best, run your business. Our process is easy because we want your life to be easy!
Talk to one of the Equity Tap team about how we can turn your real estate into an ATM for your business by tomorrow.
Ready to be preapproved? Apply for an Equity Tap loan now.
