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