All Topics / Finance / quick finance for overseas deal possible?

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  • Profile photo of casscocassco
    Participant
    @cassco
    Join Date: 2005
    Post Count: 12

    Hi I was after some quick finance on a deal I want to do overseas.I know the banks won’t allow that here but is there a way I can borrow $65k where I can do what I want with the money I get.A type of loan where its to say personal use or the banks really don’t care as long as they get paid.I have 660k in equity with no debts.I guess I don’t want to get say a margin loan then I do this and they find out that would be fraud.So I was wondering if there was a specific type of loan that I could use to do what I wanted without 100 questions.

    Profile photo of casscocassco
    Participant
    @cassco
    Join Date: 2005
    Post Count: 12

    Also forgot this is a short term thing where I will repay the loan within 6-7 months

    Profile photo of Richard TaylorRichard Taylor
    Participant
    @qlds007
    Join Date: 2003
    Post Count: 12,024

    Hi again Cassco

    As mentioned a revolving line of credit facility can be drawn down and repaid and then redrawn again to suit your circumstances.

    Interest is only charged on the funds outstanding so if the balance is nil there are no interest charges.

    Cheers

    Yours in Finance

    Richard Taylor | Australia's leading private lender

Viewing 3 posts - 1 through 3 (of 3 total)

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