Expanding Your Business? Urgent Short Term Finance for a New Site or Contract
Open the new site or start the new contract on time, and refinance once the new site's results appear in your financial statements
Experts in strategic, short-term finance
Many expansions have a fixed date: a lease that starts next month, a contract that begins in three weeks, or premises another business also wants to buy. If your bank needs longer than that, we can fund the expansion in as little as 24 hours.
We fund business expansion across Australia, from $250,000 to $10 million, for 1 to 24 months. The money can pay for the fit-out, staff, stock or equipment the expansion needs.
Why banks take longer with expansion
- •The new site has no trading history for the bank to assess
- •A fit-out has little resale value, so banks lend little on it
- •The bank wants forecasts and may test them against your current income
- •A full credit assessment can take several weeks
Deadlines that drive an expansion
- •A new lease starting, with the fit-out to be finished before opening
- •A contract won with a start date, needing staff and stock before the first invoice is paid
- •Second premises to buy before the first have sold
- •Equipment deposits due before a production line can start
Line of credit or lump sum
A lump sum suits a single cost, such as buying premises or paying for a fit-out on completion. A secured business line of credit suits running costs that grow over several months, such as a larger workforce: you draw what you need, repay and draw again. It is a second mortgage facility of up to $2,000,000 for 6 to 18 months.
Funding an expansion
Enquiry. Tell us what the expansion involves, the deadline and the property you can offer. Indicative terms can follow within hours.
Valuation. Our valuers inspect the property you are offering.
Letter of offer. The letter of offer is issued once you accept.
Funding. Funds can be available within 24 hours of signing, as a lump sum or a line of credit.
What to send for an expansion
- •The lease, contract or purchase contract that sets the deadline
- •Quotes for the fit-out, equipment or stock
- •Recent financial statements or management accounts
- •The property you can offer
- •Your plan for refinancing once the expansion is trading
Loans for business expansion
- •Secured business loans: a lump sum for a fit-out, premises or start-up costs
- •Secured business line of credit: for running costs while the new site builds up
- •Second mortgage: over your property, behind your existing bank loan
- •Bridging loans: to buy new premises before the old ones sell
Expansion 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. The line of credit has its own fees |
| Term | 1 to 24 months, interest only, for a loan |
| Line of credit | Up to $2,000,000, 6 to 18 months, second mortgage only |
| Maximum LVR | 70% of the property value, including any existing mortgage |
| Security | A first or second mortgage over residential, commercial or industrial property |
| Settlement | From 24 hours |
Repaying after the expansion
Many businesses repay us by refinancing to a bank once the expansion appears in their financial statements, which gives the bank the trading history it needs. Others repay from dated contract payments or the sale of a property. A forecast of sales from the new site is not a repayment plan on its own: we need a dated event, such as a contract payment, a property sale or a bank refinance.
Expansions we have funded
“Expansion usually comes with a date someone else sets: the landlord, the customer or the vendor. Banks want to see the new site trading before they lend on it, which is the one thing the business cannot show yet. We can fund the fit-out or the start-up costs now, and set the term to allow the bank to see the new site's first financial statements.”
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
$400K Second Mortgage Repaid in Full After a Flexible Two-Month Extension
$1.8M First Mortgage Releases $980K of Working Capital for a Solar Business
$2.3M Second Mortgage Refinances an 18% Facility for a Glass Manufacturer
$800K Bridging Finance for Simultaneous Property Transactions in 48 Hours
$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.