Urgent Short Term Loans to Pay a Creditor's Statutory Demand

Yes, where the depot property covers both amounts. We refinance a lender before or after it appoints a receiver, so one loan can repay the bank at settlement and provide the $310,000, which your company then pays to the supplier. The 21 days on the demand and the bank's notice period run separately, so ask your solicitor to confirm both dates today. Send us the demand, the bank's letter and its payout figure, and we can tell you within hours whether the numbers work.

• →Refinance business loans

We can fund whatever payment your lawyer recommends, including a settlement amount agreed with the creditor. Whether paying part of the demand is the right step is a legal question. If the company disputes part of the debt, any application to set the demand aside must be filed and served within the same 21 days. Speak to your lawyer and to us on the same day.

Yes. We fund payment of statutory demands from other lenders as well as the ATO and trade creditors. The loan is secured by the warehouse property, never by the equipment. The loan funds are paid to the company, which pays the financier. Send us the demand, the date it was served and the warehouse's current loan balance.

It can, once your accountant or a registered liquidator has reviewed the company's finances. Clearing several creditors at once is one of the uses we fund. If the company is insolvent when it pays, a liquidator can seek to recover a payment made to one creditor in the 6 months before a liquidation as an unfair preference, so that review comes before the loan. Your solicitor can explain how this applies to the company.

Yes. We can value the property and agree terms while your lawyer negotiates, then confirm the loan amount once the figure is settled, within 70% of the property's value. Settlement can take place within 24 hours of the letter of offer being signed, which leaves your lawyer most of the 21 days to negotiate.

Because an unpaid demand can point to insolvency. We look closely at whether the company can meet its other debts as well as the one in the demand, and at how the loan will be repaid. Have a current list of creditors and the company's repayment plan ready when you call, and the assessment moves faster.

We need to learn your scenario further. If a winding-up application is made within 3 months after the 21 days end, the court must presume the company is insolvent unless the company proves otherwise, and the creditor can make that application. Your lawyer can tell you what paying the creditor now would achieve, and your accountant or a registered liquidator can review the company's position. We can fund the payment quickly if it is part of the plan.

It can. When the company pays the demanded debt in full, it has complied with the demand, and any payment the company makes reduces the company debt and your penalty equally. The two documents have their own 21-day periods, so send us both with their dates and we will plan settlement around the earlier one.

• →Urgent finance for a director penalty notice

Yes. The loan is secured by the commercial or industrial property the business owns, the yard, the office or the depot, never by the progress claim. The progress payment can be the plan that repays the loan, once it is paid. Send us the demand, the date it was served and the details of the claim.

• →Construction industry finance

Yes, as the repayment plan. A debt owed to the company that is due to be paid is one of the typical repayment plans, and the loan itself is secured by property you or the company own. Send us the judgment and anything showing when the customer is expected to pay, and we will set the term with time to spare.

It can, where the company that owns the property agrees and its constitution allows it to give the security. We need to learn your scenario further. The trading company would be the borrower that receives the funds and pays the creditor. We check that the company owning the property can give the security and that the people signing have the authority to sign, so send us both companies' details on the first call, and ask your solicitor to confirm the owning company can give it.

The company has 21 days from the day the demand is served. In that time, the company must pay the debt, reach an agreement with the creditor, or apply to the court to set the demand aside.

Speak to your lawyer before you pay. If the debt is genuinely disputed, the usual remedy is an application to set the demand aside, which must be filed and served within the same 21 days. That deadline is strict, so your lawyer needs time too.

The company is taken to have failed to comply. For the next 3 months, a court must presume the company is insolvent if a creditor applies to wind it up, and the creditor can make that application.

We need to learn your scenario further. Once an application is filed, paying the creditor who filed it may not end it, because the court process has started. Your lawyer can tell you what a payment would achieve, a registered liquidator can advise on the company's position, and we can fund it quickly if it is part of the plan.

Yes. Under the Corporations Regulations, the minimum is $4,000, or $20,000 for a company eligible for temporary restructuring relief. Our loans start at $250,000, so we fund larger demands, or several debts paid together.

The ATO says a statutory demand requires the company to pay the entire debt or enter into a payment plan within 21 days. Contact the ATO early, and speak with your accountant or a registered liquidator if you are unsure whether a plan or a loan suits the company. If a plan is not possible, we can fund payment of the debt in full.

Same-day funding is possible, depending on your scenario, which can leave most of the 21 days for your lawyer and accountant. The quickest loans are secured by a caveat over property you already own.

• →$250,000 funded within 24 hours for a company facing an ATO wind-up
• →$250,000 transferred in under 2 hours to settle outstanding debts
• →$3.2 million funded in 24 hours after slower lenders let a client down

Yes. A company that has just paid a large demand often needs cash for wages, stock or suppliers. We lend for working capital to businesses in construction, wholesale, manufacturing and other industries.

• →Wholesale lending
• →Working capital loans