Working capital business loans without two years of financials.
Assessed on the property rather than the P&L.
- Facility
- $200K - $10M
- Term
- 6 - 36 months
- Drawdown
- Lump sum or staged
- Security
- 1st registered mortgage
The property is the answer.
The bank wants two years of financials the accountant has not finished. The supplier wants their money this month. That gap is what a working capital business loan is for.
We lend against the property, not the profit and loss. The trading story matters for the exit, not for the approval.
Business loans for working capital, $200K to $10M over 6 to 36 months, on a first registered mortgage. Taken as a lump sum, or drawn in stages as the spend lands.
Send it like this
A few sentences gets you terms.
A light touch to submit, and no accreditation to clear first. Security, number, dates, exit - that is the whole submission. Below is one written for this scenario.
- To
- deals@alphaconcapital.com.au
- Subject
- Business working capital - indicative terms?
Client has a $2.1M contract starting January and needs $450K for mobilisation, drawn in three stages. Security is their premises at 12 Specimen St, Dandenong VIC 3175, first mortgage, about $1.6M. Exit is progress claims under the contract - copy attached. ATO is on a payment plan, statement attached.
How credit structures it
How credit structures a working capital business loan.
Lump sum, or a working capital line of credit
One spend takes a term facility on Alphacon Fast, repaid with a single bullet payment. Mobilisation, stock buys and staged fit-outs run as a business working capital line of credit on Alphacon Line, where your client draws as they go and pays interest on the drawn balance only. Both are written on capital city and select metro security, so send us the address early.
The property, and nothing over the business
Security is a first registered mortgage. We take no general security agreement over the trading entity, so debtor finance, equipment leases and floor plan all stay where they are.
Repaid out of trading, not just the asset
A business loan for working capital comes back from trading more often than from a sale. Show us the contract, the order book or the forward sales.
Working capital business loan parameters
- Facility
- $200K - $10M
- Term
- 6 - 36 months
- Security
- 1st registered mortgage
- Drawdown
- Lump sum or staged
- Financials
- Not required
- Borrower
- Company or trust
Working capital business loan lenders usually start at the financials. We start at the security, the LVR and the exit, so the facility is sized on the property rather than the P&L. Three products carry this shape: a lump sum on Alphacon Fast, a staged drawdown on Alphacon Line, a longer term or a security outside the capitals on Alphacon Reach. Send the number, the term and the address and we will tell you which one it is.
Indicative. Subject to credit assessment, a panel valuation and satisfactory security.
Send this
What kills it
- What the capital is for, when it is needed, and the documents behind both
- The security address, the mortgage position, and anything else on the title
- The repayment path - trading, refinance or sale - with evidence
- The ATO position, including any payment arrangement, disclosed up front
An encumbrance on the title nobody mentioned
A second mortgage, a caveat, an unregistered interest. Each one has to be paid out or consented to before we can register first, and finding out at settlement is what costs the deadline.
A tax debt with no arrangement
It affects the exit and it affects the guarantors. Bring the portal statement, and the payment plan if there is one.
Directors who cannot guarantee
We take guarantees from directors and beneficial owners. If one will not sign, have that conversation before submission rather than after it.
That is the whole file. Send it and we will come back with a position.
Broker questions
Business working capital loans, answered.
Do you need financial statements?
Not for credit. We assess the security, the LVR and the exit. Income is self-declared on both products behind this page, so there is no servicing test to pass, and where interest is prepaid from the advance there is nothing to service at all.
Can the funds be used to pay a tax debt?
Yes, and it is a common purpose. Disclose the position at submission with a current ATO portal statement.
How is a line different from a term facility?
A line lets your client draw in stages and charges interest on the drawn balance only, which suits staged spend and runs on Alphacon Line. A single lump-sum need prices better as a term facility on Alphacon Fast, repaid with one payment at the end of the term.
Will you take security over the business as well as the property?
No. Security is a first registered mortgage over the property, and we register nothing over the trading entity. An existing debtor finance or equipment facility is untouched, which is one reason this suits a business already running one.
How is a working capital business loan different from a bank overdraft?
An overdraft sits on the trading account, is reviewed annually and turns on the financials. This is a term facility of six to thirty-six months, secured by a first registered mortgage, and assessed on the security and the exit. A small business working capital loan written against turnover is a different product again. This one is written against property.
Can this be structured as a business working capital line of credit?
Yes. Staged spend runs as a working capital business line of credit on Alphacon Line, with the limit set against the property and each drawdown released as it is needed. Every drawdown carries a $1,000 fee, so the schedule is worth setting deliberately rather than drawing in small increments. Send it with the submission and we will build the limit and the release conditions around it.
Your deal deserves a decision-maker.
Security, the number, the dates and the exit - that is the whole submission. A light touch to send it, no call centres, a straight answer the same day.