Don’t let the word “caveat” keep you from making this fast and efficient financial choice. The word has a number of definitions depending on where and when it’s used. But the idea is that there is a caveat connected to the loan, information about specific limitations in the agreement. A caveat loan is basically a short-term business loan that can be put in place quickly and is usually retired in a matter of six months or a year.
Some information about this type of loan identifies the loan as lending based on assets and secured by real estate (house, commercial property, land). You may also hear this referred to as a second mortgage because you may still have an original lender on the title of the property.
Short term caveat loans can be a wise financing choice for business owners who need funding urgently. You can release real estate equity in as little as 24 to 48 hours, a process that is remarkably fast compared to classic business loans. This means that you, as a business owner, can take advantage of an opportunity almost immediately whether it’s company expansion or paying an important invoice. You can use technology and convenience online to get pre-approval in a matter of minutes with no obligation to continue.
If you work with one of the leading providers of caveat loans, you can often get an interest rate as low as 1.80% per month while borrowing up to 100% of property value (for business owners). The loan term can be as long as 36 months with funding provided in 48 hours or less. You won’t have to be concerned about property valuation in most situations. In addition, you can generally arrange a flexible repayment schedule. This means that you won’t be required to make a lump-sum payment that can be a burden to some businesses.
This may be a great way to consolidate another loan that you have with the same company, and, if you find a lower interest rate, the leading sources of financing will do all they can to equal it or even give you a lower rate. All of these benefits come with a remarkably short application process. In fact, using the online service means that it’s hardly a process at all. You can use this funding for business expansion, to fund growth, to help in a cash-flow crisis, to purchase additional equipment or new stock, or to solidify your working capital.
You may want to give serious thought to working with a company that specialises in caveat lending to business owners in Australia. This is a great option for businesses that are large, small, and in-between. The funding can be yours to use in a very short time, which eliminates the need for a traditional bank to review, approve, and then review again before making a final decision.
This is a perfect way to get quick funding for a special purpose and have flexible payment arrangements as well. Time is money in every business so why use up a lot of time getting the money you need?