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.
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.
Business funding on the property comes with the following advantages to the borrower.
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 (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 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.
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.
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.
The typical features of business property funding include:
We accept individual, self-managed, company and trust superannuation funds.
Equity Tap offers interest-only loan tenure to borrowers for up to 5 years longer from the fund approval date.
You can apply for a business loan with a variable or fixed interest rate.
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.
It is a standard loan application procedure where the borrower has to submit a complete financial statement.
The borrower has to provide evidence for partial income like the BAS statement, bank statement or accountant letter.
The borrower offers a profit and loss statement showing the loan will provide an additional income source sufficient for recovering the repayments.
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.
All types of business owners can Equity Tap!
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.
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.
Weekdays 9.00am – 5.30pm AEDT
Simply APPLY ONLINE and we will immediately commence work on your loan.