Private business lender on the Gold Coast

A city that runs on seasons

The Gold Coast economy is shaped by the calendar. School holidays, the winter influx of southern visitors and major events bring crowds to Surfers Paradise, Broadbeach, Burleigh and Coolangatta, and the quieter months can feel very long for a restaurant, tour operator or accommodation business. Construction is the other big engine, with high-rise towers along the coastal strip and housing estates in the northern growth corridor around Coomera, Pimpama and Ormeau. The marine industry around Hope Island and Coomera, health and education, and a large community of trades and small operators complete the picture.

Seasonality creates a cash flow pattern every Gold Coast operator knows: you need to spend before the peak arrives. Staff, stock, maintenance and marketing all have to be paid for while takings are at their lowest. Banks don't lend against next season's trade, and cash flow lenders tend to look at the last few months of bank statements, which is exactly when the numbers look weakest.

Equity Tap Pty Ltd is a direct, independent private business lender. We lend our own money 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, including the Gold Coast. Our office is in North Sydney and Gold Coast loans are handled by phone and email. No valuer needs to attend the property and settlement happens electronically, so location has no effect on speed.

Gold Coast scenarios

• Hospitality ahead of the peak. For example, a Broadbeach restaurant needs to refurbish, hire and stock up before the winter crowds. A short-term loan over the owner's home funds the preparation, and the busy season repays it.
• Tourism operators replacing equipment. A charter or tour business might need to repair or replace a vessel or vehicle before the holidays. The loan is repaid from peak-season trade or the sale of the old equipment.
• Builders between progress payments. Residential and commercial builders often carry costs for weeks while waiting on a stage payment. See business cash flow crisis for how owners handle a sudden gap.
• Marine businesses. Boat builders, refitters and suppliers in the Coomera marine precinct often fund materials and labour long before a project is paid out.
• Selling a property. If a property sale is due to settle but the business needs money now, a property sale advance can release funds early.

Gold Coast property used as security

A second mortgage sits behind an existing home loan so it can stay where it is, although the first lender's consent may be needed. An investment apartment or holiday unit can also be used, as long as the funds are for a business purpose.

Where we lend across the Gold Coast

We lend against property along the whole coast and its hinterland: from Coolangatta, Tugun and Palm Beach in the south, through Burleigh, Miami, Mermaid Beach and Broadbeach, to Surfers Paradise, Main Beach, Southport and Labrador; the northern suburbs of Runaway Bay, Hope Island, Coomera, Pimpama and Ormeau; inland through Robina, Varsity Lakes, Mudgeeraba and Nerang; and up into the hinterland at Tamborine Mountain and the Currumbin and Tallebudgera valleys. We also lend in Brisbane and Logan, and across the border in the Tweed.

Why a short-term loan suits seasonal businesses

The point of a short-term loan is that you only carry it as long as you need it. A Gold Coast operator who needs money for the three months before the peak can borrow for three or four months and repay from the busy period. There is no reason to refinance the whole home loan for 30 years to solve a seasonal gap.

Interest can be paid monthly, or interest for up to the first six months can be prepaid or added to the loan, so there are no scheduled payments while trade is slow. That is often the deciding factor for hospitality owners. Interest is not waived; it is simply paid in a way that fits the season.

What we need

For a property-secured loan we need ID, the property and existing mortgage details, what the money is for and how it will be repaid. We don't ask for tax returns, BAS, profit and loss, an accountant's letter or bank statements, which matters when the last few months of statements reflect the off-season rather than the real business. There is no credit check at initial assessment, and bad credit or a past decline is not automatically a problem. We don't order a valuation before approval, so you won't be called away from the venue to meet a valuer.

How fast?

Conditional approval can often be given on the phone, and a term sheet issued in about 30 minutes once we have the scenario. Eligible loans can settle in as little as 24 hours. There is no credit committee: the person you speak to is often the person who decides. Each loan is priced on your individual circumstances, aiming for the sharpest rate available for your situation, and the full cost is shown before you proceed. Read more on fast business loans.

Talk to us before the peak

Call 1300 123 024 or apply online. Gold Coast brokers can send scenarios through our broker page.

Business-purpose lending only. Approval, timing and terms depend on the scenario.

Frequently asked questions

Brokers: send the scenario through the Equity Tap broker channel and you will deal with the same lending team.