A common challenge for business owners when seeking finance is the need to have current (latest) financials, with the current year, not more than 18 months old (generally).
Having current financials certainly gives borrowers the widest selection of lender options available and therefore the best chance of securing the most competitive finance terms available.

However,
• where current financials are out of date (> 18 months old) or
• where the financials on file do not reflect the current business operating performance due to a substantial improvement in business,
there are a number of competitive lender options available who are able to assess finance applications on a reduced documentation basis.
Key parameters for lo doc loans includes:
• Loan amounts up to $3m
• Loan terms up to 30 years secured by commercial property
• Maximum 70% to 85% LVR
• Servicing based on sensitised repayment
• Interest only or principal and interest
• Offset accounts available up to $1m
• Available for purchase or refinance and
• A refinance & cash out could unlock equity for an additional purchase

Similarly with lease doc loans, a lo doc loan,
• requires less documentation from the buyer (and us as the broker) which can lead to faster approval timeframes and
• is excellent when relying on current trading conditions which may be substantially higher then shown in the financials. This can substantially increase borrowing capacity. This in particularly has been a key reason for using this policy niche in the past.

If your property purchase doesn’t meet lo doc policy or if we think there are better finance terms available, we will navigate this to ensure you get the best outcome from your finance.
Make sure you reach out to us via info@blambles.com.au and we’ll work through the nitty gritty with you to ensure you get a finance solution that works for you.

Invest wisely, borrow carefully and sleep comfortably