What are the uses for second mortgage finance?

Will I be approved for private finance?
May 28, 2020
Are second mortgage loans risky?
May 28, 2020
  • In the first instance, you need to pay creditors and stop a business wind up.
  • Then, business restructuring and requiring finance. Hence, specialist finance is needed as you are closing one income entity and establishing a new trading ABN and entity. Consequently, you are unable to provide sufficient income evidence for other types of loans.
  • Liquidation of a company. Such as business restructuring where overdrafts and business loans need closure or put under a new entity. Consequently, the short term income won’t fit the lending criteria of traditional lenders.
  • Indeed, private loans can allow for partial payment or full payment of ATO debt.
  • Importantly, avoid the complex lending policy for fast access to money.
  • In sum, traditional lenders don’t like risk, such as legal proceedings. Consequently, business legal or court action is a suitable purpose.
  • Finally, used for the payment of business debts such as supplier invoices, business overdrafts & business loans.