Urgent Property Settlement Loans
Bank or financier let you down? Need to settle on a purchase today? We can help!
No payments for up to 6 months
You can take an Equity Tap loan from 1 month, right through to 12 months. Best of all we can prepay the interest during the first 6 months.
- No valuations or financials
- Loans up to 12 months
- Funding from $50k up to $5m*
- LVR up to 75%
- 1 hour approval
- 24 hour settlement
- No repayments until maturity^
- Repay early or extend the loan FEE FREE
- No hidden fees or charges
Simple online process
It's quick, easy and secure. All designed to make your life easier.
- 2-minute application
- Same day approval
- No financials or valuations required
- Aussie customer service
- Tax debts and poor credit score Ok
When to Equity Tap it
When you have an unexpected business opportunity & you need funds to seize the day.
When you need to settle on a property but your finance has fallen through.
When you're selling real estate, but you need the proceeds of the sale right NOW.
When your Bank approval is taking too long, and you need the funds by tomorrow!
Business Loan On Property – How Equity Tap Can Help You?
Business funding on property assists the business owner in investing in a property. Equity Tap offers a variety of business loans according to the borrowers’ needs. The loan type also depends on whether you are interested in investing in a property as a business owner or investor. The interest rates for business funds on the property are higher than the usual home loan, due to the higher risk involved, however private lenders provide higher flexibility than traditional lenders. You can offer other properties like your home or office as collateral to lower the loan interest rates.
You can select a fixed, variable, interest-only, or split-rate business loan. Equity Tap, also offers the additional advantage of an offset facility or early repayment with no extra charges. Equity Tap assists the borrower in selecting a business fund on the property according to their budget and requirements. Our customer service officers can also provide you with a clear picture of how much you can borrow based on the equity available within the security.
Advantages of Business Loan On A Property
Business funding on the property comes with the following advantages to the borrower.
Long Repayment Terms
The loan comes with a longer repayment tenure compared to other funding. It provides the borrower with a high certainty of rental income and the rents you can review annually.
GST Impact
GST (Goods and Services Tax) applies whenever you purchase a property. Thus, you should always keep in mind, the additional 10% you have to pay on the purchasing price. You can claim this GST back in the form of an Input Tax Credit against the GST charged on the property rent.
The Lessee Has To Pay For The Maintenance Cost
The maintenance costs and rates, and repairs on any commercial property are to be borne by the lessee and never the landlord. Thus, the total rent you will receive against the property will become your profit. You can use this capital to repay the loan early.
Securities To Submit For Business Funding On Property
Different types of properties represent various loan amounts to the lender. However, Equity Tap considers any standard properties like the ones below as the best collateral to submit for the business loan on the property.
- Office and factories
- Warehouses, including storage units and showrooms
- Shop fronts and retail space
- Residential units, townhouses or personal house
We will then evaluate the properties in detail and get the risk assessment for the loan. With this loan, you can purchase a leasehold and continue running the business. When you can use a property in various ways, you can request another evaluation that will be profitable for you and the lender. Besides the collateral, you also have to submit the following documents.
- Any current detailed lease, including the agreement
- Plan for loan repayment if you do not want to put the property on lease or have any tenants
- Equity and deposits from other properties
- Property detail, including the asset class, valuation and location
Features of The Business Property Loans
The typical features of business property funding include:
Full Documentation
We accept individual, self-managed, company and trust superannuation funds.
Interest-Only Term
Equity Tap offers interest-only loan tenure to borrowers for up to 5 years longer from the fund approval date.
Interest Rate Types
You can apply for a business loan with a variable or fixed interest rate.
Income Proof For Business Property Funding
Since there are fewer legislations restricting business loans in terms of repayment and documentation policies, the lender can provide more free lending policies. However, the borrowers should submit several pieces of documentation to get a loan approval.
Full Documentation
It is a standard loan application procedure where the borrower has to submit a complete financial statement.
Low Documentation
The borrower has to provide evidence for partial income like the BAS statement, bank statement or accountant letter.
Forecasts
The borrower offers a profit and loss statement showing the loan will provide an additional income source sufficient for recovering the repayments.
Lease Documentation
The borrower has to provide income proof from the lease and show it is higher than the repayment amount.
Are you interested in buying a property, whether it be commercial or residential? Talk to a member of our team today to discuss your needs and requirements to determine which loan structure will be perfect for you.
Be Equity Tap Eligible
All types of business owners can Equity Tap!
- Sole Traders
- Partnerships
- Companies
- Property Purchases*
- Have sufficient equity in real estate
- Have a company or ABN
- Be an Australian Citizen or Permanent resident over the age of 18
- Be borrowing against a property in Australia or New Zealand
- Have a government ID, such as a passport or drivers licence
We lend in most metro and non-metro postcodes in every state and territory in Australia, and right across New Zealand. However we can’t lend in some remote areas, on huge acreages, on workings farms, or where the population or recent property sales are very low.
- A rates notice for each property
- Photo ID for each person on title
- A recent Mortgage Statement
- A certified copy of the Trust Deed
- A copy of the Contract of Sale
- Evidence of paid deposit
- Evidence of remaining funds to complete purchase
- If residential, property must be purchased in a company name
Equity Tap Loan fees
- From 1.5% per month
- Interest is Pre-Paid for up to 6 months, so you don’t have to pay a cent during the first 6 months of the loan term
- This fee starts from $2,500, and is calculated as a percentage of the total loan amount + standard legal costs.
- These costs are capitalised into the loan, so you don’t need to pay them up front.
NIL – because we do not do valuations. Ever!
All included in the legal fees.
Complete our online application to find out what fees may apply to your unique scenario.
Don’t worry – it doesn’t cost anything to apply, and we do not do a credit check on application.
Our team are here to help.
Weekdays 9.00am – 5.30pm AEDT
1300 123 024
Simply APPLY ONLINE and we will immediately commence work on your loan.