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Unsecured Business Loans

Unsecured business loan

 

An unsecured loan is a loan that is not backed by collateral such as property, whether it is land, an investment property, the family home or a commercial property.

 

As an unsecured business loan is not backed by collateral, it represents greater risk to the lender and the rate is typically higher to compensate the lender for the greater risk being assumed.

 

Does your Business have a need for cash flow right now?.  Australian Mortgage Centre can offer a fast, flexible and simple solution for any business requirement. 

 

You may need funds for the below:

 

  • Funds to start new contacts or jobs
  • Debt Consolidation
  • Operation Expenses
  • Marketing & Advertising
  • Renovations
  • General working capital
  • ATO tax arrears ( lending parameters )
  • Opening new sites
  • Purchasing Inventory/EquipmentDo you meet the following?

 

  • Trading for a minimum of 12 months
  • $5,000 per month in revenue

 

We have made it easy to apply with:

 

  • No Application fees
  • Unsecured Loan
  • Approval within 24hours
  • Payments based on cash flow
  • Funding available within 3 days

 

Click here to apply Now unsecured business loans

  • Business loans are between 3-12 months, with the average loan being 6-9 months.Loans range from $5,000 to $250,000 with easy daily/weekly repayments.

 

Second Mortgage Loan

 

Need a second mortgage loan?

 

Second Mortgage refers to a second loan secured under an existing first mortgage upon a piece of property, typically by the home owner. One of the main driving forces that prompt people to take out a second mortgage on their home or commercial security is for debt consolidation or to increase equity funds quickly for investment purposes.

A second mortgage also carries rights to the property however, these are lessor to those of the first registered mortgage. In the process of approving a client for a second mortgage, the lender will calculate the affordability and risk of the first mortgage before calculating whether you would be able to meet any additional repayments on the second mortgage.

2nd mortgage lenders application process for getting a second mortgage is much like the one you go through for your first mortgage finance. The completion of financial paperwork, personal information, a home appraisal, and providing your new mortgage lender with necessary information in regards to your second mortgage loan must all be taken care of.

Second mortgages usually carry a higher interest charge as the first mortgage carries first priority in the case of mortgage default.

There are also fees to be paid as you are essentially obtaining a new loan. These include loan origination fees, appraisal fees, and closing cost related fees. You must also bear in mind that once you get a second mortgage, you will be making two payments on your home every month and not just one. In addition to your first mortgage payment, you will also be making a second mortgage payment every month in an effort to stay on top of your mortgages and avoid defaulting.

Finally, a 2nd mortgage can be structured as a fixed amount to be paid off in a specific time ranging from 3, 6 or 12 month terms.

 

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