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Low Doc Commercial Loans & No Doc Commercial Lending

What are Low Doc Commercial Loans?

Low doc commercial loans refer to loans that can be secured without much of the financial documentation banks ask for. Typically, lenders and banks will ask for your tax returns, financial statements, credit history, assets and more to figure out how likely you are to make your repayments, and set your interest rates accordingly.

However, this can often leave people without a lot of these documents, like self-employed sole traders or anyone without a regular PAYG income, at a loss. Low doc commercial lending is a way to secure competitive loans without needing to supply most of the documentation.

What are the documents that you do need for a Low Doc Commercial Loan?

Our checklist for self-employed applicants who can’t supply full documentation and need a low doc commercial loan instead include:

  1. a current ABN
  2. Business activity statement
  3. Accountant’s statement

Additionally, with commercial property purchase other documents may need to be sourced - just call us and you’ll receive a checklist that is specific to your low doc needs.

What is a no doc commercial loan?

First of all, ‘no doc’ commercial lending is a little bit of a misnomer - non conforming finance would be a more accurate descriptor, which simply means that you aren’t able to conform to the documentation/standards set by most loans, primarily bank loans.

However, with a network of non bank finance options already established, Hodgestone Finance is able to facilitate loans for non-conforming applicants - including those with bad credit and other factors.

Your Affordability

See how affordable a property may be by calculating your repayments, upfront costs and how much you could borrow

Commercial Loan Broker / Private Commercial Loans

Who Is a commercial loan broker?

A commercial loan broker is someone who takes the hassle out of securing your commercial loan by acting as an intermediary between you and lenders, usually the banks but can also be a non-banker or private party.

They will shop around on your behalf, looking at current commercial loan rates across the banks and staying up-to-date with the specifics of each loan agreement. At Hodgestone Finance, for example, we can broker the best loan for you by bringing our in-depth knowledge of the commercial lending landscape to a financial consultation.

What are private commercial loans?

Private commercial loans, sometimes referred to as ‘asset loans’, are loans from private lenders as opposed to the bank. Whether it’s a loan for commercial property or other commercial finance needs, private commercial loans can offer a fast alternative to a more standard bank loan - and with a wide network of of private lenders we work with, these are the types of loans Hodgestone Finance specializes in.

What’s the difference between a private commercial loan and a bank loan - and what’s the best option for me?

It really will depend on your needs, credit history and timeline.

Typically, bank loans are:

  1. Cheaper
  2. Slower to secure
  3. More rigid in the required documentation
  4. Longer term loans (up to 25 years)

On the other hand, private commercial loans are typically:

  1. More expensive
  2. Short term
  3. Faster to secure
  4. Often have a simpler loan qualification process

However, the best solution is different for each commercial venture - but at Hodgestone Finance, we have the industry experience and finance options to secure your perfect loan.

Bad Credit Commercial Finance

What is bad credit?

Bad credit refers to when your track record with credit and repaying loans shows you have struggled to fulfill your contract.

Things which could give you a bad credit history include:

  1. Bankruptcy
  2. Court writs
  3. Liquidation of assets
  4. Defaulting on your loan or missing repayments

Typically, banks and other lenders will check your credit history, and if you have bad credit they will bump up your premiums or deny you outright.

Does having bad credit / being a non-conforming applicant mean I can’t get commercial finance loans?

No! Even with bad credit, it is possible to get loans - these loans are typically referred to as ‘bad credit loans’ or ‘non conforming loans’ and it’s a type of commercial finance Hodgestone Finance specialises in. We have connections with many non-bank alternatives and private lenders with less stringent application policies, and help find the right option for you.

Whether you’re looking for commercial loans for real estate or anything else, a consultation with a Hodgestone Finance will be able to identify why you have bad credit and work around it.

Is bad credit commercial finance more expensive than getting a loan with good credit history?

Typically yes, but there are many other factors which can come into play when securing a loan that Hodgestone Finance can look into, like the amount needed for the loan, the repayment window and your assets. Call today to find out more.

Commercial Loan Rates

What are your standard commercial loan interest rates? What are your low doc commercial loan rates?

Rates can change from time to time, but see our updated rates sidebar on your right for our updated rates, including short term and low doc loan rates.

What are your fixed-rate / variable rate commercial loan options?

At Hodgestone Finance, we offer both fixed rate and variable rate commercial loans. Curious to find out which is best suited to you? You can call us to discuss the best commercial loans for your specific business needs.

Commercial Real Estate & Property Loans

What’s the best commercial property loan for me?

That depends on your specific needs, which is why Hodgestone Finance offers in-depth financial consultation before securing your perfect commercial property loan. However, with commercial loan rates starting from 4.79% p.a. you can rest assured we provide the commercial property funds your business needs to get off the ground.

Do you offer low doc commercial real estate loans?

Yes, Hodgestone Finance provides low doc and non-conforming options for commercial property loans. Whether you have bad credit or have an ABN under two years, Hodgestone Finance has a range of options to accommodate your specific situation.

What’s a lease doc commercial property loan?

Lease doc products are designed for investors with rental producing commercial properties.

Hodgestone Finance can offer you an array of lease doc products with extremely competitive interest rates.

Features of lease doc products we offer include:

  1. LVR’s up to 70%
  2. Remaining lease term required can be as little as 12 months
  3. Loan Terms up to 25 years
  4. No annual reviews or ongoing fees on certain products

Disclaimer

Consulting and broking services provided by Hodgestone Finance do not constitute a guarantee on the loan itself when arranged with a third-party (whether bank or non-bank) and we do not accept responsibility for any failure for lenders to deliver on the outlined terms.


Client Testimonials

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