FAQ

Frequently Asked Questions

What makes us Different?

Unlike our competitors or big banks, we don’t discriminate people if they do have bad credit or don’t have financial statements. We do believe that finance should not be that complicated and will offer a faster way to secure this important line of credit to business who can potentially reach their goals and growth and are lacking support of big banks.

What documents would be required?

To make he whole process simple and fast, we don’t require really a lot. We will ask you to provide us with just some basic information like simple application form, copy of Councils Rates, Copy of your last mortgage statements, etc. Note, that we will make our decision even on the face value of the quick enquiry form and will provide you with indicative terms and conditions.

Who Can Qualify with us?

As a general rule to be eligible for a business loan, you need to have corporate entity or as least Australian Business Number, even it’s a day old. As a general rule, our company require borrower to provide collateral, like real estate, or at least to own motor vehicle outright..

What if I don’t have Collateral?

In some instances, we might provide you with finance options, based on your monthly turnover. As a general
rule, business needs to be trading at least 8 months with monthly cash flow not less then $10,000 ..

How much I can borrow?

Our loans starts from $20,000 and depending of your exit strategy and value of your assets.

What if I am in arrears with my mortgage?

Don’t worry. Once your loan will go settlement, all the arrears will be brought back to normal.

How long it usually take to get access to funds?

In most cases the process is fairly quick and won’t take more than 2-4 working days.

 

Contact Us

 

 

149 E Boundary Road
Bentleigh East VIC 3165

 

1300 792 284

 

info@basicfinance.com.au

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