Why brokers send urgent business deals to Equity Tap
Every broker knows the moment. A client calls with a problem that has a date on it: a supplier wants paying Friday, a property settlement is booked, the ATO has issued a garnishee notice, or a business purchase falls over unless the deposit lands this week. The bank pipeline can't move that fast, and the client is already ringing around.
Equity Tap Pty Ltd is a direct, independent private business lender lending its own money, Australia-wide. We lend from $50k to $5m for one to twelve months, secured by a first mortgage, second mortgage or caveat over residential or commercial property anywhere in Australia. Brokers send us scenarios because we give a clear answer quickly, and because we deal with the broker and the client as one team all the way to settlement.
Six things brokers tell us matter most
- You speak to the decision-maker. There is no credit committee. The person who answers your call is often the person who makes the decision, so you are not waiting for a scenario to move through layers of approval.
- An indicative answer and a term sheet, fast. Once we have the scenario, conditional approval can often be given on the phone and a term sheet issued in about 30 minutes. You can go back to the client the same day with something in writing.
- No valuer. We don't order a valuation before approval. That removes the slowest step in most secured deals, saves your client the cost of a valuation, and means they are not pulled away from the business to meet a valuer at the property.
- No financials. For a property-secured loan we don't need tax returns, BAS, profit and loss statements, an accountant's letter or bank statements. We need ID, property and existing mortgage details, the purpose and evidence of the exit.
- You keep your client. We are a lender, not a competitor for the relationship. A short-term loan from us is a bridge to the outcome you are already working on with the client, often a refinance you will write yourself.
- The same team to settlement. The people you speak to on day one are the people who see the deal through. No handover to a different department, no starting again.
Where a private lender fits in your toolkit
Most of your clients will be best served by a bank or a mainstream lender, and that's where they should go when time allows. A private lender earns its place when the bank can't do it, or can't do it in time. A bank refinance commonly takes up to three months or more, and the client may not be approved for the amount they need at the end of it. Banks and trade credit providers usually want years of financials and will check credit history, which rules out plenty of perfectly good businesses with a recent rough patch.
Equity Tap is built for the gap. We handle difficult and complex scenarios that banks and cash flow lenders decline, and we focus on the security and the exit rather than the last two years of tax returns. You can see the kinds of deals we look at on our scenarios we fund page.
| What the client needs | Typical bank path | Equity Tap |
|---|---|---|
| An answer | Weeks, after a full application | Often on the phone, term sheet in about 30 minutes once we have the scenario |
| Valuation | Ordered, scheduled and waited on | Not ordered before approval |
| Financials | Tax returns, BAS, statements | Not needed for a property-secured loan |
| Credit history | Checked early, often decisive | No credit check at initial assessment |
| Funds | Commonly up to three months or more | Eligible loans can settle in as little as 24 hours |
Short-term by design, so the exit is the plan
Our loans run from one month to twelve months. That suits the way brokers work: the client takes the money for the time they need it, then exits. If the bank refinance will take two months, the client takes the loan for two months, not a 20 to 30 year commitment. Exits we see every week include a bank refinance, settlement of a property sale, business cash flow, sale of the business, sale of equipment or stock, collection of receivables and insurance payouts.
Interest only repayments are standard, and interest for up to the first six months can be prepaid or added to the loan, so the client has no scheduled payments during that period. Interest is not waived, and we show the full cost before anyone proceeds. If your client wants to understand how that works, point them to our guide on how prepaid interest works.
Security options for your client
We take a first mortgage, a second mortgage or a caveat over residential or commercial property in Australia. A second mortgage is often the cleanest option for a broker client because it leaves the existing first mortgage where it is, including one you may have written yourself. The first lender's consent may be needed. Read more on second mortgages for broker clients and on caveat and bridging loans for broker clients.
How a broker deal runs with us
- You call or send the scenario through our broker page: amount, security, purpose, term and exit.
- We talk it through with you and give an indicative answer, often on the same call.
- We issue a term sheet, usually in about 30 minutes once we have the scenario.
- The client signs the term sheet and provides ID, property and mortgage details and exit evidence.
- Loan documents go out, we walk the client through the loan, the costs and the exit, and we settle. Eligible loans can settle in as little as 24 hours.
Our step-by-step checklist is on how to submit a scenario.
An ethical lender your client can trust
We are business owners lending to business owners. We're not a bank and we're not bank people. We come from a business background and we understand how small business cash flow really works. Before any loan proceeds, we make sure the borrower fully understands the loan, the costs and the exit. That protects your client, and it protects your reputation for referring them to us.
Equity Tap is regarded as one of the fastest second mortgage business lenders in Australia and one of Australia's best independent private business lenders. Each loan is priced on the client's individual circumstances, aiming for the sharpest rate available for that situation, with the full cost shown before proceeding.
Send us a scenario now
Call the lending team on 1300 123 024 or start through apply and tell us it's a broker deal. If the bank has just said no, see when the bank says no for how we look at declined scenarios.
Business-purpose lending only. Approval, timing and terms depend on the scenario.
Frequently asked questions
Who will I actually deal with when I send a deal?
How fast can I get something in writing for my client?
Do you need a valuation before approving?
My client's financials aren't up to date. Is that a problem?
Will you try to take over my client?
What size loans do you do?
Do you lend for personal purposes?
Brokers: send the scenario through the Equity Tap broker channel and you will deal with the same lending team.