Private business lender in Hobart

Small city, big seasons

Hobart's business economy is built on tourism, hospitality, food and the sea. Visitors fill Salamanca, Battery Point and the waterfront in summer and for the winter festival season, and restaurants, accommodation, tour operators and galleries rely on those peaks. Aquaculture and seafood businesses in the Huon Valley, D'Entrecasteaux Channel and Tasman Peninsula support a supply chain of boat builders, marine engineers, transport and processing businesses. Hobart is also an Antarctic gateway, with research, logistics and shipping activity on the waterfront. Construction, trades, health and government services round out the economy, with growth spreading through Kingston, Sorell, Brighton and the eastern shore.

Tasmanian businesses face their own pressures. The off-season can be long. Freight across Bass Strait adds cost and lead time, so stock and materials often have to be ordered and paid for early. And local banks can move slowly when a business needs money for a short, specific purpose.

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 Tasmania. Our office is in North Sydney and Tasmanian loans are arranged by phone and email. No valuer needs to visit and settlement happens electronically, so being in Hobart doesn't slow a loan down.

Hobart scenarios

• Getting ready for summer. For example, a waterfront restaurant or boutique accommodation business needs to refurbish, hire and stock up before the peak. A short-term loan secured over the owners' home funds the preparation, and summer trade repays it.
• Aquaculture and marine suppliers. A marine engineering or equipment business may need to buy materials for a large job long before the client pays. The contract payment is the exit.
• Freight-heavy stock buying. Retailers and wholesalers who have to order early to allow for shipping across Bass Strait can use a short-term loan to fund stock, repaying from sales.
• Builders and trades. Construction businesses in the growth areas carry wages and materials between progress payments.
• Property sale pending. If a property is sold but settlement is weeks away, a property sale advance can release money for the business now.

Tasmanian property used as security

Heritage homes are common Hobart security. With a second mortgage, your existing home loan stays where it is (the first lender's consent may be needed). An unencumbered property can secure a first mortgage.

Where we lend across Hobart and Tasmania

We lend against property throughout greater Hobart: the CBD, Battery Point, Sandy Bay and the inner suburbs; the eastern shore through Clarence; Glenorchy and the northern suburbs to Brighton; Kingborough including Kingston and Blackmans Bay; Sorell, Midway Point and the Tasman Peninsula; the Huon Valley, the Channel and Bruny Island; and the Derwent Valley. We also lend against property in Launceston, the north-west coast and the rest of Tasmania.

Why a short-term loan makes sense

A bank refinance commonly takes up to three months or more, and you may not get the amount you need. Banks usually want years of financials and check credit history. A short-term secured loan uses the equity you already have and only lasts as long as the need. A business that needs money for the three months before summer can borrow for three or four months, repay from the season and be done.

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 quiet. Interest is not waived; it is paid in a way that suits the season. Our guide to exit strategies explains how the repayment is planned from the start.

What we need

ID, the property and existing mortgage details, what the money is for and evidence of the exit. No tax returns, BAS, profit and loss, accountant's letter or bank statements for a property-secured loan. There is no credit check at initial assessment, and defaults, ATO debt or a past decline are not automatically a problem. We don't order a valuation before approval, so you won't need to leave the business to meet a valuer at a property in the Huon Valley or on the eastern shore.

How fast?

Call 1300 123 024. Conditional approval can often be given on the phone, and a term sheet issued in about 30 minutes once we have the scenario, showing the full cost. Eligible loans can settle in as little as 24 hours. There's no credit committee; the person you speak to is often the person who makes the decision. Each loan is priced on your individual circumstances, aiming for the sharpest rate available for your situation. We make sure you fully understand the loan, the costs and the exit before proceeding.

Get started

Call 1300 123 024 or apply online. Tasmanian 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.