How does a Lo Doc business loan work?
It works just like a normal Full Doc business loan; however our Low Doc Business Loans don’t require tonnes of documentation on past financial performance, etc. Lo Doc Business Loans are perfect for businesses that find difficulty to provide traditional banks with relevant financial records.
Are there any restrictions with a Lo Doc Business Loan?
NO. As long as the loan is for a business purpose and there is enough equity in real estate security, we will fund you in 24 hours and you can use the funds for whatever business needs you have.
Can I get a Lo Doc line of credit?
No. We don’t offer lines of credit. Line of Credit loans tend to be a noose around the neck of small businesses as they are debts that never seem to be repaid. Our Low Doc Business loans are loans that are here to help you today; and are gone in a short space of time. […]
Can a self-employed individual get a Lo Doc Business Loan?
Yes absolutely. Even if you aren’t a PTY LTD Company, as long as you have an ABN (Australian Business Number) and the loan is for a business purpose and there is enough equity in real estate security, we will fund you in 24 hours.
Is my credit history important when applying for a Lo Doc Business Loan?
Usually the answer is yes, however we are very different. With us, a poor credit history or poor credit score is not generally never an issue. We are a true asset lender, so we don’t look at the past. We look at the future.
Is it possible to buy a home or investment property using a Lo Doc Business Loan?
YES it is possible, however the asset has to be purchased in a company name,
What is a Low Doc Business Loan?
A Low Doc Business Loan is a type of loan that is designed for small business owners who may not have traditional documentation to support their loan application
Are there types of Low Doc Business Loans?
Low Doc Business Loans can come in various forms, including unsecured loans based on creditworthiness, secured loans with collateral, merchant cash advances based on future credit card sales, invoice financing for advance payment of outstanding invoices, and asset-based loans using business assets as collateral.
How much money can you borrow with a Low Doc Business Loan?
The amount that can be borrowed with a Low Doc Business Loan depends on factors such as the lender’s policies, the borrower’s creditworthiness, and the collateral offered
What are the factors to consider in comparing Low Doc Business Loans?
Consider the interest rate, loan amount, eligibility criteria, fees and charges,.
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