Royal Finance is a short-term business loan provider. They partner with a variety of lenders and private investors, offering a range of financial products for businesses of various sizes. They currently offer debtor finance, private mortgages, development loans, debt consolidation, caveat loans and bridging loans. Except for debtor or invoice finance, their rates generally start from 9.55% p.a. How much you receive will depend on your business's financial profile, needs and security offered. Loan terms are generally short, ranging from 2 months to 2 years.
Royal Finance specialises in quick-turnaround bespoke business loans. It claims to be able to offer financial solutions in situations where customers may have been refused finance by a bank or need business capital quickly.
Most of its loans do not require credit checks as all loan offers are based on your current financial situation and on your business assets and turnover. However, to qualify for Royal Finance you must borrow under a business. For all financing products other than debtor finance, you must also have a property that you can offer as loan security.
Features and products offered by Royal Finance
Royal Finance offers a number of different options for financing your business. Below we have outlined the different products available and the corresponding features of those products.
1. Debtor finance
Royal Finance offers debtor finance, also known as invoice finance, through its lending platform. The features of debtor finance include:
No security required. This is the only product offered by Royal Finance that does not require a property as security. These loans are secured against your invoices.
Line of credit. Debtor finance is effectively a line of credit which is linked to your accounts receivable. You can borrow against any one or multiple of your invoices.
Only pay for what you borrow. While you may be able to link this service to your whole invoice ledger, you only pay for any invoices that you borrow against.
80% of invoice funding. Get funded up to 80% of your outstanding invoices up-front. The remaining will be paid to you upon client payment.
From 2.5% cost per invoice. Costs for this service start at 2.5% of the invoice value.
24-hour funding. Once approved, money will be in your account within 24 hours.
12-month loan term. Minimum loan terms are generally 12 months.
No credit checks. Everything is based on your business's annual turnover and current financial situation, so having bad credit needn't hold you back.
Debtor finance is available to any B2B business with an annual turnover of over $200,000 which issues invoices for goods or services received. There is no requirement for real estate security on this type of finance.
2. Private mortgages
Royal Finance offers private mortgages for businesses through its lending platform via its partnered private lenders. The features of this service include:
First and second mortgages. Whether this is your first or your second business mortgage, Royal Finance may be able to help.
$50k-$10m. Upwards of $50,000 and up to $10,000,000 in funding is available. In some cases, even higher funding can be sourced.
24-hour funding. From application to settlement, you could have the money in your account within just 24 hours.
Competitive rates. Royal Finance claims that its partners offer competitive rates to its customers, starting at 9.55% p.a.
Up to 80% LVR. When you secure your property against a private mortgage with Royal Finance, you can borrow up to 80% of its value.
2- to 24-month loans. Royal Finance is a short-term lender, so the maximum repayment period on a mortgage is just 24 months.
Variable rate loans. Royal Finance's loans have variable interest rates.
Interest rates from 9.55% p.a. Interest rates start at 9.55% p.a.
No credit checks. Your credit rating is not relevant to any Royal Finance products as eligibility is based on your current financial circumstances and annual business turnover.
3. Development loans
$1m-$200m funding available. Depending on your circumstances, Royal Finance's lending panel may be able to provide funds up to $200,000,000.
Extensive network of lenders. Royal Finance has lenders available for face-to-face meetings Australia-wide.
Tailored loans. Everyone's situations and needs are different. Royal Finance will try to find a solution for your circumstances with a bespoke loan.
Variable rate loans. Royal Finance's loans have variable interest rates.
Interest rates from 9.55% p.a. Interest rates start at 9.55% p.a.
No credit checks. Your credit rating is not relevant to any Royal Finance products as eligibility is based on your current financial circumstances and annual business turnover.
To qualify for a development loan through Royal Finance, you must have an LVR of 65% of GRV (exc. GST) or 75% of the total development cost (the lesser of) and to provide the full financials of the developer.
4. Debt consolidation
From outstanding ATO tax debt to overdue supplier debt, you can pay off your current business debts and consolidate them into one loan with one set interest rate. Features of Royal Finance's debt consolidation loans include:
No credit checks. Because Royal Finance bases its eligibility criteria on your current circumstances and property security, it doesn't require credit checks. This means that you might qualify for a lower interest rate than your current loans offer, if your credit isn't excellent.
9.55%+ p.a. Interest rates start at 9.55% p.a.
Cheaper than ATO. If you have ATO debt, paying it off immediately with a loan rather than utilising their payment plans could prove to be cheaper.
Extend loan terms. Pay off upcoming debts and extend your repayments with a debt consolidation loan.
No ongoing payments. Payments can be capitalised into the loan. This can help to further improve your cash flow.
5. Caveat loans
Royal Finance's portfolio also offers short-term caveat loans. The features of its caveat loans include:
$50k-$1m available. $50,000+ and up to $10,000,000 of funding is available through Royal Finance. In some cases, even higher funding can be sourced.
24-hour turnaround. From application to funding, you could receive a loan in just 24 hours.
Rates start at 9.55% p.a. Royal Finance claims that its partners offer competitive rates to its customers, starting at 9.55% p.a.
Up to 80% LVR. When you secure your property against a private mortgage with Royal Finance, you can borrow up to 80% of its value.
2 to 24-month loans. Royal Finance is a short-term lender, so the maximum repayment period on a mortgage is just 24 months.
Interest rates from 9.55% p.a. Interest rates start at 9.55% p.a.
No credit checks. Your credit rating is not relevant to any Royal Finance products as eligibility is based on your current financial circumstances and annual business turnover.
6. Bridging loans
If you're looking for a bridging loan Royal Finance can also help. It offers short-term loans to bridge the gap between your property's sale value and property purchase price. Features of Royal Finance's bridging loans include:
Up to $10m available. Get funding up to $10,000,000 through Royal Finance.
Up to 80% LVR. Get up to 80% of your current property's value to bridge the gap to the purchase price of your new property.
2-24 months loan term. Royal Finance only offers short-term loans.
Competitive rates. Rates start at 9.55% p.a.
No credit checks. Your credit rating is not relevant to any Royal Finance products as eligibility is based on your current financial circumstances and annual business turnover.
24-hour funding. You could have the money in your account in just 24 hours.
In some instances, you may need a valuation of your property in order to qualify for a bridging loan. However, this is only required on a case-by-case basis.
How much does it cost?
Rates with Royal Finance start as low as 0.83% p/m. However, because Royal Finance offers a broad range of loans that are tailored depending on your circumstances, your business's needs and your asset security, all loan costs will vary.
To submit an enquiry with Royal Finance and get a better idea of what costs you'll expect to pay, simply click "Go to Site" from which you can either call, email or speak to them on live chat.
How to apply
To apply for Royal Finance business finance, click "Go to Site" and submit an enquiry. Royal Finance does have certain eligibility criteria in order to qualify for its finance. You must have:
Ownership of real estate (this is not required for invoice finance products)
Bria Horne is a writer for Finder, with a specialist knowledge of personal loans, car loans and business loans. Originally from the UK, Bria has been a professional personal finance writer in Australia for over 2 years. She has an M.A and B.A in Philosophy and Literature from the University of Sussex, and previously worked on the UK’s leading hospitality publication.
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