Bank Finance Fell Through? Settle With an Urgent Short Term Loan

We need to learn your scenario further. We assess a receivership in a related company together with the warehouse, any other property offered as security and how your company plans to repay the loan. Tell us why the receiver was appointed and whether your company guaranteed the related company's loan. If the related company owns property, refinancing its lender may be part of the answer, because we can refinance a lender after it has appointed a receiver. Send us the purchase contract, the bank's letter and the payout figure on the related company's loan.

• →Receivership refinance

Yes. We use our own valuation and lend on the property and the plan to repay us, so we do not wait for the bank's paperwork. You settle with us on the agreed date, and the bank can then complete its new approval, and its loan repays ours.

We can, depending on the property and the town. We lend Australia wide, and our own valuers assess each property on what it would sell for, then we lend up to 70% of the lower of that value and the price. Send us the address first, and we will tell you within hours whether it fits.

We need to learn your scenario further. We assess the warehouse property, the amount you need within 70% of the lower of value and price, and how our loan will be repaid, for example a bank refinance once the next year's figures are in, or a sale. Send us the contract and the bank's decline letter, and we will tell you within hours whether we can proceed.

We may be able to. We lend up to 70% of the lower of our assessed value and the price, so if our valuer supports the $2 million price, that is up to $1.4 million against the bank's $1 million. Our in-house valuers regularly assess non-standard property, and they value the building for what it would sell for.

Not necessarily. Our valuer takes the structure into account in the value, and we lend up to 70% of that value or the price, whichever is lower. Your solicitor can advise whether the structure needs council approval after settlement, and getting it approved can make it easier for a bank to refinance our loan later.

No. A tax debt listing on its own is not a reason we decline. We lend on the property and the plan to repay us, and the tax debt is one part of the picture we look at. Send us the payment plan details with the contract, so we can see the whole position on the first call.

• →Tax debt loans

Ask your bank before you settle with us, because it depends on the bank. Some banks treat repaying our loan as a refinance rather than a purchase, which can mean a new approval. Ask the bank to confirm in writing that its approval can repay a short term loan, or to reissue it as a refinance approval, and we will set our term with time for that to happen.

Speak to your solicitor before the finance date passes, because a finance clause usually has strict dates and notice rules. You can apply to us at the same time. An indicative offer within hours tells you whether you can proceed without the bank, which helps your solicitor decide what to do before the clause date.

You still have other ways to repay us. Before we lend, we agree a repayment plan, which can be a refinance to a bank or another lender, or a sale. Our terms run up to 24 months, so if one bank declines, there is time to apply to another lender or sell a property.

About $900,000, plus stamp duty and settlement costs. We lend up to 70% of the lower of our valuation and the price, which is $3.15 million on $4.5 million. With your $450,000 deposit paid, $900,000 is left, and it can come from your own funds or from a loan over another property you own, within that property's own 70% limit.

• →Urgent short term loans for a settlement shortfall

Three days is enough in most cases, and we can fund on the same day depending on your scenario. Call us on 1300 795 175 rather than sending a form, and have the contract ready. Access to the property for our valuer is the most common cause of delay, so ask the agent to arrange it straight away.

• →$1.88 million bridging loan settled in 48 hours
• →$4 million DA-approved site settled in 24 hours
• →7 loans funded in 7 days, including a purchase the bank could not settle in time

It is worth asking, and your solicitor or conveyancer can make the request. The seller does not have to agree, and some will ask for a fee or interest in return for a later date. Many buyers ask for a short extension and apply to us at the same time, so they can settle on whichever date is agreed.

It may be similar, as two valuations of the same property rarely differ by much. We lend up to 70% of the lower of the value and the price, so a low valuation means a larger deposit or a second property as extra security. We will tell you early if the numbers do not work, so you can plan your next step.

You may lose your deposit if you do not settle. Once a notice to complete has expired, the seller may be able to end the contract, keep the deposit and claim costs. Your solicitor can explain what your contract says about this. The sooner you arrange replacement finance, the more options you have.

No. We lend for business purposes only, such as a commercial property, an industrial building or an investment property. If finance on your own home has fallen through, a mortgage broker can help you find a lender that offers home loans.

Yes, and that is how most of these loans are repaid. Once the cause of the bank's withdrawal is resolved, you apply to a bank or another lender and use the new loan to repay ours. Our terms run from 1 to 24 months, so you are not rushed into the first offer you receive.

Yes. If the failed approval has tied up cash the business needs, we can also fund stock, staff or supplier payments. We lend to businesses in retail, manufacturing, professional services and other industries.

• →All industries we lend to
• →Working capital loans

We do not always need them. We focus on the property and your plan for repaying the loan, so many of our loans settle without full financial statements. We will ask for enough to confirm the loan can be repaid, such as a bank pre-approval, a sale plan or recent business figures.