Buying Out a Business Partner? Urgent Short Term Loans to Complete on Time

It can, where the bank's payout figure and the buyout amount together fit inside 70% of the factory property's value, or across the factory and another property you add. We lend after a receiver has been appointed, and our loan repays the bank at settlement. The borrower is always a company, never an individual, so ask your accountant and solicitor how the buyout should be structured before we issue terms. Then send us the bank's written payout figure and the agreed price for your partner's shares.

• →Refinancing a lender that has appointed a receiver

Yes, on those numbers. 70% of $3,000,000 is $2,100,000, and after the $1,200,000 owing that leaves up to $900,000, which covers the payout exactly. That could be a second mortgage behind the bank, from 11.95% p.a., or one first mortgage that repays the bank and funds the buyout together, from 9.7% p.a. Because the numbers are at the limit, our valuation of the factory decides whether it fits, so send the property details early.

It can, if your property supports the whole amount within 70% of its value. A first mortgage over your property can repay the bank loan, so the bank can release your partner's home, and fund the buyout in the same settlement. Bring the bank's payout figure and the buyout amount to the first call, and we can tell you whether one property covers both.

• →Refinance business loans

Call us in the first week of the 60 days. We can settle within 24 hours of the letter of offer being signed, but the time before that goes on valuing your property and on your lawyer's work on the share transfer. Starting early leaves room if the price or the completion date is questioned by the other side.

Yes. 30 days is enough time for us, and funds can be available within 24 hours of signing the letter of offer. Send the notice that started the 30 days and the property you are offering. Your lawyer should confirm the exact last day, because the clause decides when the period ends.

Yes, we can fund the $500,000 due at the exit date, which is above our $250,000 minimum loan. The deferred $400,000 reduces what you borrow, but it does not repay our loan. Tell us about the deferred payments, because the business will be paying them while our loan is running, and your refinance plan needs to allow for both.

Yes. The partnership is the borrower, and property owned by the continuing partners can secure the loan. Your partnership agreement sets how the retiring partner's share is valued and when it is paid, so send it with your enquiry.

• →Professional services lending

Yes. One loan can cover the share price and the $350,000 loan account, as long as the total stays within 70% of the property's value. The loan funds are paid to the borrower, which then pays your partner. Ask your accountant to confirm both amounts before settlement, so the loan matches the final figures.

Yes. An investment property in your own name can secure the loan to the business, within 70% of its value, and the factory is not involved. Once your partner has been paid and has left the company, the factory can be offered as security later, for example when you refinance to a bank.

• →$7.2 million in 48 hours to buy out a partner

That is a comparison to work through with your accountant, using your own figures. Our rates start from 9.7% p.a. on a first mortgage and 11.95% p.a. on a second, for the months the loan is open, and the deed adds $50,000 if you miss the date. A short term, set to the time your bank says it needs, limits the interest to those months.

The business is the borrower on our loans, and your home can be the property that secures the loan to it. How the purchase of the shares is structured, and what that means for tax, is for your accountant and lawyer to settle before the letter of offer is prepared.

Yes, where the buyout terms are agreed in writing, such as a signed deed of settlement. We fund the amount that document sets, secured by property the continuing owners can offer. We do not act for either side, and your lawyer should advise on the deed.

Your bank may need to consent, because many business loans require it when ownership changes. A second mortgage behind the bank's loan leaves that loan in place, and the combined borrowing must stay within 70% of the property value.

No. The loan is secured by real property, such as your home, an investment property or premises the business owns. The shares are what the money buys.

We do not value the business or the shares. The price is for you and your partner to agree, with advice from your accountant or lawyer.

Yes, if the combined amount stays within 70% of the property value. We pay out the existing lender and fund the buyout in one loan, which leaves a single loan to refinance later.

ASIC says a company must notify it within 28 days when shares are transferred between shareholders. Your lawyer or accountant usually lodges this, alongside the transfer documents.

A buyout can be funded on the same day, depending on your scenario. Having the agreement and the property details ready on the first call is what speeds it up most.

• →$3.5 million buyout funded in 72 hours
• →$7.2 million refinance and top-up within 48 hours to buy out a partner
• →$3.2 million funded in 24 hours

Yes. Where part of the price is paid from the business's own funds, the business can be left short for wages, stock and suppliers. We lend for working capital to businesses in professional services, technology, construction and other industries.

• →Professional services lending
• →Working capital loans