Our short-term loan is ideal when funds are immediately required for time-sensitive opportunities
Initially secured by caveat and is commonly used as a short-term option for business owners who require an immediate release of cash from one or more properties or vacant land regardless of their personal credit history.
Short-term loans include all the interest and fees during the term of the loan.
A short-term loan from EquityCap is NOT offered to consumers who seek to use the funds for personal, domestic or household purposes pursuant to the National Consumer Credit Code and/or National Consumer Credit Protection Act. If the loan is intended to be used for such purposes, you should not apply for this loan.
Why clients choose EquityCap for a short-term loan
We know our private lender competitors offer loans that are one-size-fits-all and while not an exact fit, it will suffice. We'll tailor a loan specifically for your situation while still keeping our money safely secured against your property or vacant land for the term of the loan.
We are a leading Australian private lender for all types of business loans including Bridging loans, Equity Release loans, Fast Caveat loans, 2nd mortgage loans & 1st mortgage loans. We try to fund property owners and buyers across Australia in days!
Valuations Not always req'd
Full valuations are dependant on LVR’s, location and type of security offered. Desktop valuations and broker provided valuations are often acceptable for loans with lower LVR’s
High Loan to Value (LVR)
Borrow up to 75% of the property value. We assess favourably when property is located in a metro location, is residential,commercial or vacant land, and in great condition with a verifiable exit
No Accountant Letter required when interest is prepaid for the loan term
Because all of our loans are exclusively available to owners and purchasers that can borrow in the name of a Company, we don't require tax returns, cashflows or financial statements that many of our competitors require. We'll include the interest into the loan if there is available LVR
You Can Be Funded in Days!
It's our objective to do whatever is required to get you funded in time. You'll need to be fast as well. That means timely Solicitor meetings, having DL's & Passports available, Council and Water Rates Notices available, existing loan balance statements from internet banking available, payout amounts on existing loans including Caveats. We'll provide you with a checklist of requirements when loan is conditionally approved
Low Credit Scores are Ok
A score under 600 is considered by banks and non-bank lender's as unacceptable and it's unlikely you'll be eligible for their loan. We're ok with lower credit scores which means you're eligible with us
Loan Arrears are Ok
Yes, you can refinance your loan that is in arrears. You can have either a new loan by 1st mortgage, a 2nd mortgage or a fast caveat. We don't consider loan arrears. We'll simply pay out the arrears on any and all loans from settlement proceeds
New Businesses are Ok
We can provide you with funds no matter what industry you're in, or where you're located in Australia. Property owners and property purchasers require a Company to be the borrower for their business loan
$0 Interest Payments required
Interest payments will be prepaid for the requested loan term if required or if no accountant letter is available. We'll finance 100% of the loan interest using available equity in the property or vacant land offered as security. That means no requirement for borrowers to make monthly interest payments
Information you need to know
Simply click this button or any of the apply now buttons on our website apply now and take a minute to complete the information we require.
You'll know we've received your application as an automatic email will be sent to you as confirmation.
Allow an hour or so during business hours for a manager to review the details in your app form and assess the loan for suitability.
You may receive a call to discuss additional requirements.
If our assessors are happy with the information provided, you'll receive an indicative loan approval.
Our loan applications require the following for each Director, each Guarantor and owners on the title(s):
Drivers Licence(s), council rates notice(s), trust deed(s) if applicable, bank or non-bank loan statements (can be from the internet) clearly showing borrower name(s) and loan balance(s) if applicable, Payout amount(s) for loans or caveats that are to be paid from settlement funds if applicable.
Upon receiving your completed loan application, an assessor will review everything you have told us and if we can provide you with a loan, you'll be provided with an indicative approval letter that includes a list of items we now require to finalise our due-diligence.
Accepting our indicative approval offer letter let's us know you wish to proceed. Payment of a non-refundable upfront valuation fee (per property) may be required depending on lvr, location and property type.
When you have provided the list of items requested in the indicative approval letter, our assessor will generate a conditional loan approval and send to you by email.
We are then ready to approve the loan, create the loan agreement and prepare for settlement of your new loan.
When your new loan is ready to be funded, we'll send your nominated Solicitor a loan agreement for Directors and Guarantors to sign and attend to settlement requirements.
Because its a privately funded Business loan, all Directors and Guarantors are required to have independant legal advice by a Solicitor.
Unlike home loans where you simply walk into any bank branch and sit with a manager or sign in front of any JP or Cdec, privately funded loans require a Solicitor that will fully explain the loan agreement to you.
Your Solicitor will assist you with the documentation requirements and certify identification and statements.
Your Solicitor liaises with our Solicitor to finalise settlement requirements and send funds to your account.
Firstly you must be able to borrow in the name of a Company or Corporate Trustee of a family trust.
Existing companies and recently formed companies are acceptable.
Secondly, property owners and purchasers that are sole traders, ABN holders or individuals are classified as 'coded' borrowers. Discussing and providing loans to 'coded' borrowers requires an ASIC licence. We are not licenced by ASIC.
Thirdly, you require sufficient existing equity in your property or land or sufficient new equity in your purchase. We can only assist with up to 75% of the property value and up to 70% of land value.
Lastly, the gold standard of identification is an Australian Drivers Licence + an Australian Passport. If you only have one of the two, it can delay urgent settlements as we don't use the 100 points of ID that is used for home loans.