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The Meaning of a Caveat Loan

Caveat loans are a short-term asset based loan product usually financed by private lenders. Compared to conventional forms of finance, a caveat loan can be established quickly (i.e. within 24 hours from the time the loan application is first lodged). The loan is secured on the value of concrete assets, such as:

A house or unit

A block of land

A commercial property

The Purpose of a Caveat Loan

For a business owner or a property developer it is inevitable that you may find yourself needing money quickly. So, a caveat loan is the right loan for you as it will enable you to:

Commit to any potential business growth by providing you with the required increased working capital

Secure the required funds for construction or development projects (Secure the required funds for property development or construction projects)

Get the cash-on-hand you need for urgent bills and expenses

Enhance your day-to-day business cash flow

Prevent foreclosure or repossession of your property

NOTE: – It is important to note that caveat loans are not offered to consumers who seek to use the funds for purposes to which the National Consumer Credit Protection (NCCP) Act may apply. The loan facility can only to be used for business or for investments other than investments in residential property.

Features of a Caveat Loan

Features for you to consider when you are applying for a caveat loan:

Fast approvals to meet your immediate needs

Quick settlements

Loan terms up to 3 > 12 months

Security to be in the form of real estate

Loan repaid at the end of the agreed term

Approval Requirements for a Caveat Loan

To get approval for a caveat loan, the lender/credit provider will require you to have:

Accessible equity in owned property (e.g. your residence or your business)

A reasonable exit strategy in place. You must be able to show the lender/credit provider how you plan to pay back your caveat loan (e.g. you may decide to sell the Security or use the profit from the sale of a business)

Do not worry if you have Bad Credit History

If you are in a situation where you need a loan and have a bad credit history, do not worry. Because generally credit checks are not required to be performed on caveat loans, even if you have:

A Discharged Bankruptcy

A Bad Credit Rating

A Court Judgement

A Part-9 Debt Agreement

Find an Expert Non Conforming Broker to help you

Contact a reputed brokerage firm with access to numerous private lenders /credit providers. The firm’s professionally qualified and expert finance brokers will structure your caveat loan to suit your individual needs and budget.

Private Loans for Business Owners

Non Conforming Lenders and Private Lenders can solve the cash flow problem of business owners with the help of a private loan (sometimes referred to as a short-term 1st or 2nd mortgage or a Caveat Loan). The loan is ideal for business owners because:

Bank style credit approvals are not required

Tax returns are not required

Interestingly, a private loan is not only right for a business owner but it can also be beneficial to a property developer or an investor.

Private Loans – Definition

They are fast settling loans, which are structured for a short-term of usually between 1 to 12 months, with a possible rollover (if required).

How does a Private Loan work?

These loans are simply an ‘asset lend.’ For private loans, all you need is to be the owner of a piece of real estate. Here is a list of residential, commercial, industrial or specialised securities that the loans are commonly secured against:

A home or a unit if owned by a Company or Trust

Vacant land / Development

Medical centres

Child care centres

Commercial properties\

Land Bank

Rural land, farmland or agricultural land

How are Private Loans Structured?

They are structured just for a short-term of 1 to 24 months period and generally have a “fast-settlement” compared to Bank funding.

What is the Loan Exit Strategy and how are Private Loans Repaid?

The loan exit strategy is where the borrower agrees to pay the loan back to the lender/credit provider at a predetermined time (usually between 1 to 24 months).

The repayment of the loan can be done by one of the following methods:

You can refinance the loan

You can sell the asset

You can use any business cash flow or commissions due to you

What Reasons do Business People Choose Private Loans?

Here is a list of many reasons (scenarios) why business people choose a private loan:

A common use of the loan is if business people require funds for bridging between the selling of a property and the funding of an urgent requirement

Having the required cash flow in hand by way of the loan has helped many business people to pay off their debts and thereby enabling them to go on with the running of their business

It may be that business people want to expand their business, and they need additional funds to enable them to full fill their business goals

They may want to attend an auction and the need to transfer the funds right after the auction ends

They may simply have a business deal that is too good to let go, and they currently do not have the required cash to pursue this business deal.

Private loans can help you with any unexpected urgent commercial debts that you have to pay before any legal process is taken against you (e.g. default or court judgement) or before you are charged with late fees.

Non Conforming Loans helps business owners in securing finance for their business. The firm’s expert finance brokers will help you in securing a private loan as well as help you in obtaining easy business finance and short-term business loans.

Rural Property Loans

Agriculture is a major sector for the Australian economy contributing 12% GDP. 307,000 people are employed in the sector that earns $155 billion-a-year. The numbers clearly show that agriculture is a big business and like every other owner of a huge business, farmers often have to seek quick and affordable finance.

Rural Funding Requirements

If you are looking at expanding your farm business, or just looking to better manage your business, here is a list of funding situations where you can use a Rural Property Loan:

You may be looking at buying a neighbouring property

You are a livestock producer looking to purchase vet supplies

You may want to increase your livestock numbers

You may need to buy cropping supplies (e.g. weed spray or fertiliser)

You are looking to purchase, upgrade or replace your farm or business equipment

You may need to meet your seasonal expenses

You would like to consolidate all your agriculture finance into one loan, making your finance simpler and more cost effective

You may need drought survival assistance

Summary of Rural Loan Options

Here is a list of agriculture loans that have been specifically designed by specialised lenders/credit providers to address the specific needs of your farming business. These loans are also more flexible than other loans:

Farm Term Loan: It is an ideal loan when you are considering capital improvement or purchasing property.

Livestock Finance: It is specifically designed to enable you to invest in your livestock breeding. The loan has flexible repayments that can suit you cash flow.

There are other Agriculture loan options available to you, and these are:

Private Rural Finance: The loan type will provide you with the required working capital to fund any short-term production costs and to cover any cash flow shortfalls.

Equipment Finance: The loan type provides you with the options to purchase, upgrade or replace your farm or business equipment. The options are either a finance lease, asset purchase or an equipment loan.

Why Contact a Finance Broker?

Farmers need specialised advice from experts who have the right industry experience as well as having a thorough knowledge of the changing economic and market conditions.

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