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Sat, Mar 28th - 12:38AM

Short-Term Business Loans are the Perfect Solution for when your Business Needs Urgent Cash

You may be like most small to medium-sized business owners who often need urgent working capital or cash flow. If you find your business doesn't qualify for a traditional business loan from a traditional financing institution, you might still be able to obtain finance in the form of a short-term business loan.

What are Short-Term Business Loans?

Short-term business loans will provide your business with a suitable funding alternative to traditional business loans provided by traditional financing institutions. Here is a list of reasons why short-term business loans can benefit you:

• You will be able to meet you urgent needs for financing, without requiring you to make a long-term debt commitment; and

• You can choose a maturity date of one year or less.

Short-Term Business Loan Purposes

Here is a list of reasons how the loan package can help your business:

• Short term business loan for working capital can help you to cover any temporary deficiencies. So, you can meet your payrolls and expenses;

• They enable you to meet any immediate and urgent expenses, particularly if your business is seasonal in nature;

• They enable you to create and manage start-up businesses and pay for any start-up business costs;

• They enable you to take advantage of any business growth opportunities and when you have to move quickly; and

• They enable you to look at any acquisition or expansion opportunities that can arise suddenly, and you need to respond immediately and provide immediate cash.

Traditional Business Loans may not always be the Best Solution for you!

Here is a list of common frustrations that many small to medium-sized business owners have when looking at traditional business loans:

• They are often made for as long as ten years;

• They often require mountains of documentation and financial statements;

• They have a rather long waiting period before you receive an approval;

• They can take weeks or even months before funding is received; and

• They have a rather high decline rate for small businesses.

So, short-term loan for small business is ideal for business owners who have recently started a business, want a smaller loan term or don’t want to get involved in a huge documentation process.

Taking help of Experts

Ensuring you have the right finance structure in place is vital for you. So, you should seek expert and specialist advice from a business finance expert who has adequate knowledge of the credit policies and the standard requirements for obtaining short-term business loans. You should also seek independent taxation and accounting advice regarding the treatment of depreciation and any tax advantages that may be available to you.

Truly, short-term business loans are a very efficient and cost-effective source of urgent finance. So, next time your business faces cash crisis, do not worry. Simply contact a finance broker who will help you in obtaining the loan package of your choice.


Comment (0)


Sat, Mar 28th - 12:37AM

How to obtain Medico Loans for buying Property?

I am a General Practitioner. Is it possible for me to obtain a loan to buy a converted residential house to use as my practice premises?

Dr Alex (General Practitioner)

Hi Dr Alex,

It is a very interesting question asked by many medical professionals, medicos and doctors. To attract medical professionals and to fight competition, specialist lenders/credit providers have developed an amazing loan package called "medico loan" (also known as "medico pack" and “loan for doctors”). The loan package can help you in buying a converted residential house to use as your practice premises.

If you are a medical professional like Dr Alex, you can also take advantage of the medico loans and start your practice. Before you apply for medico loans, you must know everything about it so that you make a wise decision. So, let’s start.

The Purpose

Amedico loan has many purposes. However, you should keep in mind that refinancing of working capital, equipment finance and all other business related purposes are excluded from the loan package. In addition to buying a converted residential house to use as your practice premises, you can also use a medico loan to:

• Purchase residential properties (owner-occupied and investment property purchase)

• Refinance existing home loan

• Consolidate your debts, or

• Obtain cash out (Equity Release)

Special Discounts and Benefits

Medico home loans have been specifically developed to offer doctors with a number of special deals and discounts. Here are a few of the special discount deals and benefits provided to medical practitioners:

• Confirmation and validation of 5% genuine savings is not required

• A maximum Loan-to-Value Ratio (LVR) of 90% may be approved without Lenders Mortgage Insurance (LMI)

• Discounted interest rates

• Easier loan approval - even for the typical "hard loan proposals"

• Discounts on Lenders Mortgage Insurance (LMI) premium or even no LMI

• No Set Up cost or Application costs

• No valuation

• Special interest rate for family members, and

• Easier cash out (Equity Release policy)

Eligibility Criteria

Here is a brief list of medical professions who can choose a medico loan pack and get all the special discount deals and benefits:

• Doctor of Medicine

• Surgeon

• Hospital - Employed Doctors (Intern, Resident, Registrar, Staff Specialist)

• Dentist

• Chiropractor

• General Practitioner

• Optometrist

• Radiologist

• Veterinary Practitioner

• Physiotherapist, and more

Income Documents and Employment Verification Requirements

Income documents are standard, and you only have to provide copies of the most recent tax return for both, established self-employed medical professionals and PAYG medical professionals. And, you only have to provide copies of the following employment documents:

• Your University degree or qualification, or

• Your Registration with the Medical Practitioners Board of Australia or equivalent body

Tuly, lenders/credit providers have made loans simpler for medical professionals by providing medico loans. So, don’t worry about obtaining a loan package for establishing a private practice.

Singh Finance is a reputed Australian brokerage firm. It will help you in obtaining home loans for doctors. Don’t worry if you do not have all the loan documents ready. You can obtain low doc home loans easily. Call on 0424 190 908 or enquire online today.


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