Private business lender in Melbourne

Melbourne businesses, Melbourne property, a fast answer

Melbourne has one of the most varied business economies in the country. Manufacturing still anchors the south-east, from Dandenong South to Braeside and Moorabbin. The western suburbs have become a logistics and warehousing hub around Truganina, Derrimut, Laverton North and Altona. The inner north and east are packed with hospitality, retail and creative businesses, while construction and trades follow the growth corridors out to Werribee, Tarneit, Craigieburn, Mickleham and Clyde.

Equity Tap Pty Ltd is a direct, independent private business lender. We lend our own money to Melbourne business owners, from $50k to $5m, for one to twelve months, secured by a first or second mortgage or a caveat over Victorian residential or commercial property. Our office is in North Sydney, and Melbourne loans are handled entirely by phone and email. Because settlement is electronic and no valuer needs to attend the property, being in Victoria doesn't slow anything down.

The Melbourne cash flow squeeze

Three pressure points come up again and again for Melbourne businesses:

1. Stock before sales. Manufacturers and wholesalers often need to buy materials or fill a large order well before the customer pays. A big contract can be the best thing that happens to the business and the worst thing for its bank account.
2. Builders and trades waiting on payment. In the growth corridors, a delayed progress payment can leave a subcontractor carrying wages and suppliers for weeks.
3. Hospitality fit-outs and turnarounds. A new venue in Collingwood or Richmond can cost a lot before the first coffee is sold, and a slow winter can stretch even established operators.

Banks rarely solve any of these quickly. A refinance can take up to three months or more and they usually want years of financials. Cash flow lenders may be fast for a small amount but often won't go higher. If you've already been knocked back, see declined by a cash flow lender.

How a short-term secured loan fits

Equity Tap's loans are designed to be short. You get the money fast and only have it for as long as you need it. A manufacturer who needs $600k for four months to fulfil an order repays it when the customer pays. A builder who needs $150k for eight weeks repays it from the progress claim. A café group that needs $250k to open a second site might repay through a bank refinance once the new venue is trading. The exit is agreed before the loan proceeds, so everyone knows how it ends. Our guide to business loan exit strategies covers the common ones.

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 the business gets through the squeeze. Interest is not waived; it is just paid at a time that suits the cash flow.

Melbourne property we commonly see

• Victorian and Edwardian homes and terraces in Fitzroy, Carlton, Northcote, Brunswick and South Melbourne
• Family homes in the eastern suburbs, from Camberwell and Balwyn to Doncaster, Ringwood and Glen Waverley
• Factories and industrial units in Dandenong South, Braeside, Moorabbin, Campbellfield and Tullamarine
• Warehouses in Truganina, Derrimut, Laverton North and Altona North
• Shops and strata offices across the CBD, Southbank, Box Hill and Richmond
• Newer homes in the growth suburbs and holiday homes on the Mornington Peninsula

With a second mortgage, an existing home loan stays in place (the first lender's consent may be needed). If the property is unencumbered, a first mortgage is usually simplest.

Where we lend across Melbourne

We lend against property throughout greater Melbourne: the CBD, Docklands and Southbank; the inner north through Fitzroy, Collingwood, Brunswick and Coburg; the inner east through Richmond, Hawthorn and Kew; the bayside suburbs from St Kilda to Brighton, Sandringham and Mentone; the eastern suburbs to Box Hill, Ringwood and the Dandenong Ranges; the south-east through Oakleigh, Clayton, Dandenong, Narre Warren and Berwick; the west through Footscray, Sunshine, Point Cook, Werribee and Tarneit; the north through Preston, Epping, Craigieburn and Mickleham; and down the Mornington Peninsula. For Geelong, the Bellarine and the Surf Coast, see our Geelong page.

No valuer, no financials pack

We don't order a valuation before approval. That saves the time and cost of a valuation, and nobody has to leave the factory floor or the kitchen to meet a valuer. For a property-secured loan we also don't need tax returns, BAS, profit and loss statements, an accountant's letter or bank statements. We do need ID, the property and existing mortgage details, what the funds are for and evidence of the exit. Bad credit history, defaults, ATO debt or a past decline are not automatically a problem, and there is no credit check at initial assessment. More on that at bad credit business loans.

How a Melbourne loan runs

You call 1300 123 024, tell us the amount, purpose, property and exit, and the person on the phone can often give you a conditional answer during the call. There is no credit committee in the way. A term sheet follows in about 30 minutes once we have the scenario, showing the full cost before you proceed. We make sure you understand the loan, the costs and the exit. Documents are signed, and settlement happens electronically. Eligible loans can settle in as little as 24 hours.

Each loan is priced on your individual circumstances, aiming for the sharpest rate available for your situation.

Get a Melbourne answer today

Call 1300 123 024 or apply online. Melbourne brokers can submit scenarios through our broker page and deal with the same lending team.

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.