Royal Finance Secured Business Loan

How does the Royal Finance Secured Business Loan work?

You are able to apply for this secured business loan through Royal Finance's website. The loan terms are short, and their standard loan term ranges from 2 months to 1 year. However, it's able to extend this if necessary.

You are able to borrow a minimum of $50,000 and a maximum of $5,000,000. However, this depends on your business' prosperity and the amount your property is worth. You are able to borrow up to 80% of your property's value.

Once you have been approved, you can expect to have the funds in your account within one business day.

Features of the Royal Finance Secured Business Loan

Some of the features with this business loan include:

• It is secured. This product requires an asset that you can put forward as security. The asset can include residential property.
• You must have a business. Your business has to have been trading for six months before you are eligible to apply.
• Short loan terms. The loan terms available start from 2 months and end at 1 year. Extensions can be applied as per your request.
• Large borrowing amount. You are able to borrow a minimum of $50,000 and a maximum of $5,000,000 with Royal Finance. This large borrowing amount ensures that no matter how large your business goals are, you are able access the capital for them.
• Competitive rates. There are rates that start from less than 1% per month. Your own rate will be determined for your loan term once you have been approved.
• Up to 80% LVR. Seeing as you have to secure your property against this loan, you are able to borrow up to 80% of its value in order to fund your business dreams.
• No credit checks. As this loan and your ability to pay it back is assessed on your current financial situation, which includes your business' stability and the amount your property is worth, your credit history is irrelevant.
• 24-hour turnaround. If you need immediate finance for your business, you are able to have the funds in your nominated bank account within 24 hours from application assessment and approval.

How much does the loan cost?

Some of the fees you can expect to pay with this loan include:

• A monthly fee. This varies on the amount that you borrow.
• An establishment fee. This fee is charged once you have been approved for the loan and will also vary on the amount you need to borrow.

There are no transaction fees associated with this loan. You will know more about extra costs this loan charges once Royal Finance has assessed your needs and approved your borrowing amount.

How to apply for the Royal Finance Secured Business Loan

The application process is straightforward. Simply click on "Go to Site" and ensure you meet the following:

• You need to own a business. The business that you own must have been trading for at least six months and have a high cash flow of $10,000 or more.
• You need to own a house or some other form of property that can be used as an asset for security for this loan.

Some of the documents you need to provide include:

• Proof you own the asset that you are using as security.
• Your ABN and where you lease the business so there is proof that it exists.

You need not worry about your credit score. Approval for financing is based on your current financial situation, your business' assets and turnover rather than your credit history.

Competitive rates and short terms make this business loan a consideration for your business needs. Compare other loans to ensure this product is right for you.

Comparison of other business loans

Whilst we don't directly compare Royal Finance Secured Business Loan, compare other business loans offering similar features.

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