A Small Business can now access funding for commercial purposes against existing or property being purchased without the provision of any financial information. We are proud to be Australia’s Business finance specialist especially when it comes to No Doc or Business Asset Leasing in Australia.
Why would you want to borrow money as a No Doc or Asset Lend?
There are many benefits to borrowing money as a No Doc or Asset Lend loan as there are also some points to be aware of:
The key advantage of No Doc or Equipment And Asset Finance in Australia is that you are not required to provide financials to confirm servicing of your lending.
Businesses that have sufficient equity in either residential or commercial property may be able to access funding for any worthwhile purpose.
Given there is no requirement for financial documents to be provided the application process is streamlined and efficient, getting money to you sooner.
Some things to keep in mind:
Given the lending is based on the asset alone, the main aspect of assessment is based on the asset itself. Any asset must be acceptable to the lender before they will provide No Doc or Asset Finance And Leasing in Australia.
There are limitations to the loan to value ratio available against the security offered – up to 65% in some cases is available.
The lending must not be in individual names and must be a company or trust arrangement.
Interest rates while still very competitive are slightly higher than normal commercial rates given the increased risk associated.
You should speak to an experienced Commercial Finance Broker such as Edgeview Finance to discuss your business and the suitability of the product for you needs before making any formal decision.