Suresh KumarParticipant@loanspalJoin Date: 2017Post Count: 2Richard TaylorParticipant@qlds007Join Date: 2003Post Count: 11,992
There are numerous reasons why borrowers seek out a short term loan for business or non business purposes. Whether it be urgent funds required within in a matter of days, or a Nodoc loan for a business or home purchase. Stock acquisition or funding when your Tax return hasn’t been lodged or shows a loss for a variety of reasons. Development finance for land banking, construction or financing residual stock when your traditional lender wants their money back.
As one of the Directors of Australian Secure Capital one of the Country’s leading Private lenders i can certainly confirm the demand for such a product has never been as high as it is now.
We started Private lending in 1997 and now that we enter our 21st year in the industry find we are approached daily from new brokers wanting us to consider their 1st & 2nd Mortgage deals.
Certainly being an approved lender on the panel of a couple of the larger aggregators has helped us spread the word to brokers who had not considered this area of funding.
All in all more borrowers are considering this form of short term mortgage funding for their average loan.
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