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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.

 

Development Finance Application

 

Development or Commercial Funding is a very profitable and at the same time risky business to finance.

Australian Mortgage Centre first piece of advice for prospective developers is to remember that borrowing for development is very different from borrowing for investment.

Financing property development is a lot riskier for lenders and therefore their requirements are more stringent. If you don’t have much experience in the field, banks may have an issue advancing any funding. Until you get a good reputation or a good track record, you should either bring an experienced person into your development team – such as a project manager or development manager – or use a good mortgage consultant, “because they’re going to understand what the different lenders’ requirements are”.

Every lender also has its own ideas about what constitutes a feasible project. The level of equity required, the profit margins expected and the risks they are willing to take will vary widely. Some lenders draw a distinction between ‘residential’ projects and ‘commercial residential’ projects – the difference lies in the number of units to be built.

The finance submission should start with an executive summary, outlining the broad scope of the proposal and the amount of money required. A thorough feasibility study should come next – but you can’t just punch random figures into an Excel spreadsheet and then massage them until they show the required profit margin. You need to show your working.

To increase your chances of success, the suburb you’re looking to develop in must show strong demand and have good access to infrastructure and transport. Lenders will definitely take these features into account.

Once the lender is satisfied that the numbers look reasonable, the valuers will be sent out to value the Gross realisation value of the development. Unlike the valuation for a simple investment property purchase, the development valuation process is always exhaustive. A professional valuer from the bank’s panel of independent firms will be appointed, and they will certainly uncover any issues that could potentially derail the development project.

The valuer will go through the feasibility study with a fine-toothed comb and ensure that you have included all of your expenses. Even if you’re not planning on selling the project, they will include selling and agents’ costs, just in case you default and the lender needs to liquidate

Finally, even if a development lender does accept your application, unforseen errors could possibly leave you exposed to a cost blow-out or even a mortgagee repossession if these are not mitigated prior.

Private Money Lending

The term Private money  is a commonly used in banking and finance. It refers to lending money to a company or individual by a private individual or organization. While banks are traditional sources of financing for home purchases, and other purposes, private money is offered by individuals or organizations and may have non traditional qualifying guidelines.

There are higher risks associated with private lending for both the lender and borrowers. There is traditionally less “red tape” and regulation to assist towards quicker successful approvals.

Private money can be similar to the prevailing rate of interest or it can be very expensive. When there is a higher risk associated with a particular transaction it is common for a private money lender to charge an interest rate above the going rate.

There are private money lenders in virtually every Australian state , seeking a chance to earn above average rates of return on their money. With that comes the risk that a private money loan may not be re-paid on time or at all without legal action. However, in the case of a real estate private lending the lender can ask for a deed on the property in their name & insurance on the property the same as a bank lending money would require as collateral to help insure they be repaid in the event of a default on the loan or risk to the property.

In that case the lender gets the property and can sell it to recoup their investment. Private money is offered to customers in many cases in which the banks have found the risk to be too high for them to finance the offer.

Could Facebook Driven Affiliates Do An Amazon On Amazon Itself?

Amazon Jeff Bezos

Amazon’s Supreme Court Request for Equal Weights & Measures:

The obvious downside of equal weights and measures in online retail is both profound and important. A dynamic tax system can serve as a powerful tool for leveling up the playing field… for what a smaller online retailers may lack in buying power and market reach of companies of the size of Walmart and Amazon they can make up for it through government leniency through a dynamic (situation fluency) tax system.

Amazon has changed retail and Amazon knows its size has now attracted the taxman and while they are officially supporting the tax they desire to stop new players from entering the market by exploiting the tax loophole that ironically built Amazon to what it is today.

Amazon officially supports the federal law called the Marketplace Fairness Act which requires that all online retailers collect tax and have agreed to pay it in states such as New Jersey and California but where Amazon does have a problem with the dynamics of the tax law. For the law is very liberal and volume driven as small online retailers would still be exempt of paying this tax in some states.

We all know that Jeff Bezos is one intelligent entrepreneur and his request for the use of equal weights and measures in our tax law through his Washington, D.C., attorney Ted Olson is both fair and reasonable but the question is if its good for America? Being on the other-side of the coin it does seem hypocritical for the role of government is to try and foster competition which sometimes means taxing the larger payers more than one would the little guy. The obvious downside of equal weights and measures in online retail is both profound and obvious for little payers who often lack the buying power and reach of companies like Wallmart and Amazon would still have at least one small tax advantage through this kind of situation fluency tax system.

From Amazon’s perspective it is clear that for one to secure long term dominance they need a uniform tax law that does not discriminate between the size of the online retailer as all would be taxed evenly. So while it was ok for Amazon to get big on this tax loophole they appear to fear a new wave of Facebook driven affiliates doing an Amazon on Amazon itself.

There is no doubt that Amazon is a great company and had served America well but at the same time it is now a significant player and it has now entered the nostrils of the one who is greater (competition watchdogs). The bottom line is clear and that is that a more dynamic and flexible tax system is more practical and can better serve the American consumer by reducing market entry obstacles for new businesses through its volume related tax law giving a rare advantage to smaller players. While Jeff Bezos is right from a purely legal standpoint – the truth is – that if a legalistic tax system is applied equally to all this could have serious ramifications and serve a major blow to competition itself. For in my opinion governments should encourage competition through a flexible tax system for when it comes to price it is competition that ultimately keeps us all honest.

peter-malaczynskiArticle by Peter Malaczynski:
Peter is the chief engineer at HAGOOLE Price Comparison in charge of analytics, statistics and strategic game theory. Follow Peter @HaggleSearch

*Blog post views are my own and not those of my employer



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