Short Term Finance
Short Term Finance
Short term finance is an option that can provide you business with the capital it requires within 24 hours of contacting North Capital. With highly competitive rates and no security requirement this is an amazing option to obtain up to $400,000 of funding without having to go through large application processes with terms of up to 24 months and in most cases NO early payout fee there is no reason not to see if this suits you.
North Capital work with a range of lenders from Private equity firms international FinTech and local lenders. We look into the needs of your business, your ability to service the lending over a short term and ensure that it meets your businesses requirements.
Benefits of Short Term Lending:
- Fund your project or need within 24 hours
- Minimal Application process with no Financials required in most cases
- No early payout fees in most cases
- No requirement for security to be taken
- Competitive Rates that can often beat out bank rates
- Great alternative to overdrafts and Invoice finance
Waiting for bank approvals can often be stressful and take up to 4 weeks to get an answer, we provide the options to ensure you get the funding you need in the time you need it. Business moves too fast these days to wait, give North Capital a call today to see if short term funding will suit your needs.
Will Short Term Finance suit me?
Short term finance is a fantastic option for many businesses but will it suit yours? We look to discuss how it works and what business suits this type of finance. As the loan is over a maximum term of 24 months we need to make sure that your business has the ability to repay this lending in the term setout, below are some examples of who is eligible and how the application process works.
Am I eligible?
- Business been trading for longer than 6 months
- Eligible to borrow and trade in Australia
- Not considered bankrupt or in default
- Are all of your ATO requirements up to date?
- Can you show your trading history via a bank account statement
- Funding is bases on 80% of your monthly turnover E.g $100,000 Turnover = $80,000 lending
What is the application process?
We will discuss your needs over the phone or in person and work out what lender suits your needs, this all depends on the funding required and we may not require any financial information other than your last 12 months of bank statements.
Once we have confirmed your eligibility we will assess the lender suited to your needs and place your application again depending on the requirements of the lender and how fast we receive your information an approval can be made in 12 hours and funding in less than 24 hours.