Hundreds of scenarios, one common thread: time
There are hundreds of reasons a business needs money quickly. A sale has been signed but settlement is three months away. A bank refinance is crawling through credit. The ATO has issued a director penalty notice. A supplier is offering a deal on stock that disappears on Friday. The details change, but the common thread is time. The money is needed now, and the normal channels cannot move fast enough.
Equity Tap 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. We do not need tax returns, BAS or bank statements for a property-secured loan, and we do not order a valuation before approval. Conditional approval can often be given on the phone, a term sheet issued in about 30 minutes once we have the scenario, and eligible loans can settle in as little as 24 hours.
When time is of the essence
Banks are built for long loans and tidy files. A bank refinance commonly takes up to three months or more, and at the end of it you may not be approved for the amount you need. None of that helps when a creditor has set a deadline or a vendor wants a deposit by Thursday.
A short-term secured loan is a different tool. You get the money fast and you only have it for the time you need it. If you need it for two months, take it for two months, not a 20 to 30 year refinance. Interest for up to the first six months can be prepaid or added to the loan, so there are no scheduled payments in that period while you get the job done. The loan is then repaid from a clear exit: a property settlement, a refinance, business cash flow, the sale of the business, stock or equipment, receivables or an insurance payout. Our guide to business loan exit strategies explains how we look at that.
Crisis or opportunity
Most of the calls we take fall into one of two camps. The first is a crisis: something has to be paid, stopped or fixed before it does lasting damage to the business. The second is an opportunity: a deal, a discount, a contract or an acquisition that only stays on the table if you can move first. We fund both.
No credit committee sits between you and an answer. The person who answers the phone is often the person who makes the decision. We are business owners lending to business owners, not bank people, and we make sure you fully understand the loan, the costs and the exit before you proceed. Brokers are welcome to send scenarios through our broker page.
Find the scenario closest to yours below. If yours is not listed, call us anyway. Difficult and complex scenarios that banks and cash flow lenders decline are exactly what we look at every day.
Waiting on money that is already coming
- Sold a commercial property, settlement months away: we advance funds now and are repaid at settlement.
- Selling a business, need funds before settlement: bridge the gap between signing and completion.
- Waiting on a property settlement: cover the timing gap on a residential or commercial sale or purchase.
- A big customer is paying late: fill the cash gap while a large invoice sits unpaid.
- Waiting on an insurance payout: keep trading while the claim is assessed and paid.
When the bank is too slow or says no
- Bank refinance taking too long: bridge now and let the refinance repay us when it lands.
- Bank finance fell through before settlement: replacement funding when approval is withdrawn days out.
Tax, creditor and compliance pressure
- Stop a business crisis before it spreads: creditors, tax, a supplier stop-supply or lease arrears.
- ATO tax debt loan: clear or settle a tax debt with a property-secured loan.
- Director penalty notice: fast funds to act within the DPN window.
- Statutory demand funding: pay or settle a creditor's statutory demand before the deadline.
- Payroll and super funding: meet wages and super when cash is tied up.
- GST and BAS debt: pay down an overdue BAS or GST liability.
Opportunities with a deadline
- Opportunity funding: act on a deal that came out of nowhere, before a competitor does.
- Supplier discount or bulk stock purchase: buy big while the price is right.
- Large contract upfront costs: fund labour and materials before the progress payments start.
- Buying a business: fast settlement funds for an acquisition.
- Business partner buyout: buy out a partner and keep the business moving.
Property purchases and family matters
- Commercial property purchase deposit: fund the deposit when your money is tied up elsewhere.
- Auction purchase finance: bid with confidence and settle on time.
- Development site purchase: secure a site before the long-term finance is in place.
- Deceased estate and family settlement funding: release funds while an estate or family settlement is finalised.
How every scenario runs
- Call or send the scenario. Tell us what the money is for, the property you can offer as security, the existing mortgage and how the loan will be repaid.
- Get a fast indicative answer. Conditional approval can often be given on the phone, with a term sheet in about 30 minutes.
- Accept and document. We send loan documents and explain the full cost, the term and the exit before you sign.
- Settle. Eligible loans can settle in as little as 24 hours.
- Repay from the exit. The settlement, refinance or cash flow you planned for repays the loan.
Want the background first? Read about secured business loans, business bridging loans or the Equity Tap lending facts. Ready to move? Apply online or call 1300 123 024.
Business-purpose lending only. Approval, timing and terms depend on the scenario.
Frequently asked questions
What kinds of business scenarios does Equity Tap fund?
My situation isn't on the list. Should I still call?
How fast can you fund?
Do I need financials or tax returns?
Will you order a valuation?
Can my broker send the scenario?
Brokers: send the scenario through the Equity Tap broker channel and you will deal with the same lending team.