Business Loans

Business Loans

We can help if your traditional lender can’t provide finance based on circumstance or time, if you don’t have financials in order (but have equity in your home or any other type of real estate), or you need a short-term business loan for:

 

  • Working capital / cashflow for business use
  • Stock or an equipment purchase
  • Payment of wages
  • Invoice lags
  • A tax bill
  • Starting a business
  • Investing in a business
  • Buying a business
  • Buying shares
  • An opportunity too good to miss!

Short term business loan snapshot:

  • $25K – $500K+
  • By caveat, second or first mortgage
  • Funding typically within 3 – 5 days from application
  • Loan terms from 2 to 24 months+
  • Australia-wide
  • No credit check or income assessment
  • Minimal documentation
  • Real estate backed (real estate required to obtain a loan)
  • Flexible underwriting

 

Apply here for business loans online

The upside of a short term business loan:

  • Buy or refinance a commercial property
  • Help smooth out cashflow in busier (or quieter) periods
  • Take advantage of an opportunity that requires upfront payment
  • Purchase stock or equipment
  • Reduce the impact of invoice lags
  • Pay a tax bill
  • Start a business
  • Invest in a business
  • Buy a business
  • Buy shares
  • Being able to take advantage of an opportunity too good to miss!

 

Types of business loans we offer

Caveat loans

Short-term caveat loans are a quick way to access business funding.

To take out a caveat loan, you must own property. A caveat operates like a form of ‘injunction,’ which means the loan is lodged on title behind your existing mortgage (no consent is required from your bank to do so). This also means the borrower is prevented by a ‘caveat’ from settling the sale of the property without the permission of the caveat loan provider. Once the loan is settled, the caveat is removed from your property.

A short-term caveat loan is commonly used to manage the cash flow between the sale and purchase of a property. In addition, caveat loans can be used for working capital, stock or equipment purchases, or to smooth out invoice lags, to name a few.

Our short-term caveat loans are flexible, require minimal documentation and are usually approved within days. We also accept applications from business borrowers with affected credit history. And you can quickly and easily apply online.

First mortgage loans

Usually, first mortgage loans are associated with residential purchases, however, they can also be used for business purposes. The advantage of a short-term first mortgage loan is that they have lower interest rates and a higher loan-to-value ratio (LVR) compared with other loans.

Our short-term first mortgage loans are flexible, require minimal documentation and are usually approved within days. We also accept applications from individuals and borrowers with affected credit history. And you can quickly and easily apply online.

Second Mortgage Loans

As the name implies, a second mortgage loan is secured against a property that’s already used for a primary loan or first mortgage. In the event of a foreclosure, a second mortgage lender is the second priority to be repaid. The first mortgage is first paid back, and the second mortgage is paid with the remaining funds.

A short-term second mortgage may be worth considering if you have solid equity in your home, an inability to extend or refinance your primary mortgage loan, and quickly need access to significant funds for business purposes.

A short-term second mortgage loan can be used for personal or business purposes. Common business requirements include boosting working capital, acquiring equipment or stock, or even purchasing a business.

Our short-term second mortgage loans are flexible, require minimal documentation and are usually approved within days. We also accept applications from individuals and borrowers with affected credit history. And you can quickly and easily apply online.

Home equity loans

As the name suggests, a home equity loan allows you to access money using your home equity. Generally speaking, the more equity you have in your home, the more you will be able to borrow through a home equity loan.

Whether you still have an existing mortgage or you own your home outright, you can obtain a short-term home equity loan. This loan type can be used for many different business purposes, such as paying a large ATO bill, expanding the business or purchasing bulk stock.

Our short-term first mortgage loans are flexible, require minimal documentation and are usually approved within days. We also accept applications from individuals and borrowers with affected credit history. And you can quickly and easily apply online.

FAQ’s

How do I get a business loan?

There are many types of financial institutions that provide business loans, including banks, building societies. That said, businesses are increasingly favouring non-bank, specialist lenders, private lenders and fintechs that offer different financial products that typically are more flexible in their lending criteria, require minimal documentation and are quick to process funding. Mango Credit offers short-term business loans, including fast caveat loans, first mortgages, second mortgages and home equity loans. And you can quickly and easily apply online.

How do I apply for a business loan?

Different lenders have varying business loan application requirements and processes. It’s easy to apply for a loan with us: you can submit an enquiry by phone, email or apply online. Upon receiving your enquiry or application, we email an indicative quote that details the interest rates, costs, loan structure and document requirements. If you agree with the proposal, we then issue a formal and more detailed letter of offer. You return the signed proposal with the required documents, and we ask our solicitors to issue security documents or order a valuation if needed. Once we receive the security documents, we settle by electronic transfer of funds. Click here to apply for a short-term bridging loan.

What documentation do I need for a business loan?

Each lender will differ regarding the documentation required to secure a business loan. Common requirements include business and personal bank statements, tax returns, business financial statements, business plan, certificate of incorporation and other business legal documents. The good news is that we only require your most recent council rates notice and your most recent existing mortgage statement when considering your loan application.

How long does it take for a business loan to get approved?

Processing times for a business loan largely varies among lenders. Here at Mango Credit, an application gets approved usually within 24 hours, and funding is typically available within 3-5 days from the approval of the application.

Get started! Contact us today.

We offer short-term bridging loans, as well as fast first mortgages, second mortgages, caveat loans, and home equity loans. And you can quickly and easily apply online.