Are you looking to grow your business?
There are a couple of “no doc” business loan which we may be able to help you with. No doc business loan means… you pretty much don’t provide any documents… no tax returns, no financial statements, no business activity statements, no bank statements… just your ID documents 🙂
The first type of “no doc” business loan which many Australian small businesses use is a loan which is secured against a real estate property. This can be your personal home, or an investment property.
Generally speaking, the total debt against that property must be no more than 70% of the property value. This includes the mortgage you already have with the bank.
The second type of “no doc” business loan is a loan secured against a car, another type of motor vehicle, or sometimes, a piece of machinary or equipment. Typically, the lender will only provide this loan if you’re using it to purchase the asset the loan will be secured against. If you own a real estate property, you may even be able to purchase the asset with $0 deposit. On the other hand though, if you already own the car or asset, and suddenly want a loan against it to pay your employees’ wages, it may be difficult to do it as a “no doc” loan.
There are exceptions to the above general principles, and we can help you work out your indicative options free of charge, without an obligation to go ahead.