With the Global Financial Crisis many banks and financial institutions have tightened the criteria they use to approve loans. Don’t despair if the banks say NO as there are other alternatives. We have have access to many private funders who will do asset backed loans without the need to demonstrate servicing. There would still need to be a exit strategy however these type of loans are no way near as stringent in their approval process as the Banks. Quite often we have placed loans at 7o% LVR with no income verification required.
Private type loans are generally more expensive than the normal bank type loans but when you have no other option they are worth a look. Certainly if by taking the loan is to prove a prudent commercial decision then maybe a Private loan would be for you.
Give City Edge Finance a ring to discuss the diferent Private loans that may suit you circumstances. A chat with Paula is completely obligation free.
Paula Valmadre | City Edge Finance
BA, Diploma Mortgage Broking Management (MBM), Certificate IV Financial Services
Make an appointment with Paula from City Edge Finance today.