Why ethics matter more in fast lending
When a business owner needs money urgently, they are under pressure. A tax deadline, a settlement date, wages due, a creditor on the phone. Pressure makes it easy to sign whatever is put in front of you, and some lenders rely on that. Hidden costs appear at settlement. Terms are shorter than the exit needs. Default interest is waiting at the end.
Equity Tap takes the opposite approach. We are an ethical lender: we make sure the borrower fully understands the loan, the costs and the exit before proceeding. Speed and clarity are not in conflict. We can move fast and still make sure you know exactly where you stand.
What ethical lending looks like in practice
- The full cost up front. Each loan is priced on the client's individual circumstances, aiming for the sharpest rate available for that situation. The full cost is shown in the term sheet before you proceed, so nothing new appears at settlement.
- A term sheet in plain English. Loan amount, net advance, term, repayment structure and the total repayable, set out so you can read it once and understand it.
- A real conversation about the exit. We ask how you will repay, and we test it. If the term is too tight for your exit, we will say so and suggest a longer one.
- No pressure. We will give you a fast answer, but we won't rush you into signing. Take the term sheet to your accountant, solicitor or broker.
- Straight answers when it doesn't fit. If a loan won't help you, or will put you in a worse position, we will tell you, even if that means we don't lend.
Not bank people
We are business owners lending to business owners. Our team comes from business backgrounds, not banking, and we have been lending to business owners for a long time. We understand the realities of small business: late-paying customers, seasonal swings, ATO catch-ups, and the odd year that goes wrong. We don't judge you for having a problem; we look at whether a short-term loan can solve it.
No credit committee, no runaround
There is no credit committee at Equity Tap. The person who answers the phone is often the person who makes the decision. That means you get a clear answer quickly, and you don't get passed from person to person with a different story each time. If you have been messed around by a cash flow lender, you will notice the difference.
Ethical lender vs pressure lender
| What to look for | Pressure lender | Equity Tap |
|---|---|---|
| Costs | Revealed late or buried in documents | Full cost shown before you proceed |
| Exit | Barely discussed | Discussed and tested on the first call |
| Term | As short as possible | Matched to your exit, from one to twelve months |
| Decision maker | Hidden behind sales staff | Often the person on the phone |
| Advice to get independent help | Discouraged | Encouraged |
| Saying no | Rarely, if a fee is on offer | When a loan won't help you |
Questions we will ask you
- What is the money for, and will it fix the underlying problem?
- How will you repay, and what evidence supports that?
- What happens if the exit takes longer than planned?
- Do you understand the net advance and the total repayable?
- Would interest only, prepaid or added interest suit your cash flow best?
For example, a business owner who wants a three-month loan to wait for a property sale that hasn't been listed yet would hear from us that six or nine months is more realistic, and why.
Our lending in one paragraph
Equity Tap Pty Ltd is a direct, independent private business lender lending its own money Australia-wide from 116 Miller St, North Sydney. We lend from $50k to $5m for one to twelve months, secured by a first or second mortgage or caveat over Australian residential or commercial property, for business purposes only. Repayments are interest only, or interest for up to the first six months can be prepaid or added to the loan. We don't order a valuation before approval and we don't need tax returns, BAS or bank statements for property-secured loans. Conditional approval can often be given on the phone and eligible loans can settle in as little as 24 hours. More detail is on our lending facts and about pages.
No valuer, no needless costs
Part of treating borrowers fairly is not charging for steps that don't help them. We don't order a valuation before approval, which saves you the cost of a valuation and the time of meeting a valuer at the property. We don't ask for documents we won't use. And we only lend for the term you need, so you are not paying for money you no longer use.
For brokers
Brokers can send scenarios through our broker page and deal with the same lending team. We treat your client the way you would want them treated, with clear terms and a realistic exit.
Talk to us
Call 1300 123 024 or apply online. If you would prefer a set time, schedule a call.
Business-purpose lending only. Approval, timing and terms depend on the scenario.
Frequently asked questions
What makes Equity Tap an ethical lender?
Will you tell me if a loan isn't right for me?
Can I take the term sheet to my accountant before signing?
Are there hidden fees at settlement?
Who will I deal with at Equity Tap?
Why do you ask so much about my exit?
Brokers: send the scenario through the Equity Tap broker channel and you will deal with the same lending team.