Business Acquisition Deadline? Urgent Short Term Finance to Settle
Complete the purchase on the vendor's timetable, then move to bank finance once the business is yours
Experts in strategic, short-term finance
A vendor sets the settlement date, and a bank credit team can take weeks to assess a price that is largely goodwill. If the business you want to buy has a settlement date your bank cannot meet, we can fund the purchase in as little as 24 hours.
We fund business purchases for buyers across Australia, including the purchase of a competitor or a supplier. The money can pay for goodwill, stock, equipment and the working capital you need on day one.
Why bank acquisition finance takes longer
- •Much of the price is goodwill, which is intangible and hard to value
- •Banks often want several years of the business's financial statements before they will assess it
- •The business may rely heavily on its current owner
- •Where the business leases its premises, the lease must be assigned, and the landlord's consent can take time
- •Credit committees meet on their own timetable, not the vendor's
When business buyers call us
- •The vendor has set a settlement date the bank cannot meet
- •A liquidator or administrator is selling the business on a short timetable
- •A competitor has come up for sale and another buyer is interested
- •The bank has approved part of the price, and you need the rest
- •You need stock and working capital on the day you take over
What your loan can cover
- •The purchase price, including goodwill
- •Stock at valuation on the settlement date
- •Equipment, vehicles and fit-out that come with the business
- •Stamp duty, legal and accounting costs
- •Working capital for the first months of ownership
Before you sign: the lease and due diligence
Business.gov.au suggests buyers examine three to five years of the business's financial records, and check whether the landlord will agree to transfer the lease. Build the lease transfer into your settlement timetable, because it can be the slowest step. Your accountant and solicitor should advise on how the purchase is structured. We lend, and do not advise on share or asset sales, tax or stamp duty.
Funding a business purchase
Enquiry. Send us the sale contract or heads of agreement, the settlement date and the property you can offer. Terms can be ready the same day, depending on your scenario.
Valuation. We value the property that will secure the loan. We do not value the business itself.
Letter of offer. Once you accept, the letter of offer is issued for signing.
Settlement. The purchase can settle within 24 hours of the letter of offer being signed.
Information for an acquisition loan
- •The sale contract or heads of agreement
- •The business's recent financial statements, if the vendor has provided them
- •The property you can offer and its current loan balance
- •Your plan for long-term finance after settlement
Loans for buying a business
- •Secured business loans: a lump sum for the purchase price and settlement costs
- •Second mortgage: over your home or premises, behind your existing bank loan
- •Caveat loans: for a deposit, or a settlement that is days away
- •Bridging loans: where you will repay us from a property you are selling
Business purchase loan terms
| Loan feature | Detail |
|---|---|
| Loan size | $250,000 to $10,000,000 |
| Interest rate | From 9.7% p.a. on a first mortgage, from 11.95% p.a. on a second mortgage |
| Term | 1 to 24 months, interest only |
| Maximum LVR | 70% of the property value, including any existing mortgage |
| Security | A first or second mortgage over property owned by you or the business. Never the business, its goodwill or its stock |
| Settlement | From 24 hours |
After you take over
Buyers usually repay us with bank acquisition or business finance once the purchase has settled and the bank can assess the business under its new owner. Others repay from the sale of a property. Where the vendor agrees to take part of the price later, that reduces the amount you need to borrow from us. The repayment plan is agreed before you sign.
Business purchases we have funded
“We do not need to assess the goodwill or the earnings behind the price. We look at the property the buyer can offer and how they plan to refinance after settlement. That lets the buyer work to the vendor's date, while the bank assesses the business in the months after.”
Gino Tabila
Associate Director
Frequently Asked Questions
Get an indicative offer within hours, not weeks.
No credit check. No obligation.
Why Secured Lending?
Are you a broker? Find out why brokers love working with us.
Case Studies
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$300K Second Mortgage for Dental Practice Working Capital in 5 Days
$700K Working Capital for a Technology Start-Up Settled in 72 Hours
$3M Working Capital for IT Business Expansion Settled in 2 Business Days
$1.9M Commercial Property Acquisition for Growing Doggy Daycare Business
Get an indicative offer within hours, not weeks.
No credit check. No obligation.
Why Secured Lending?
Are you a broker? Find out why brokers love working with us.
Other Urgent Loans We Fund
Each page covers one deadline: what we fund, what to send us and how quickly we can settle.