We have so many financing options open to us nowadays, that it can sometimes get a little confusing. There are many different types of loans, and one particular loan has proven itself to be quite popular. Sometimes businesses need a quick cash injection in order to be able to grow, and take advantage of the current market situation. It is very likely that you might have some cash flow issues, and all of your money is tied up elsewhere. Maybe an opportunity has presented itself before any of your clients are due to settle their invoices, and if you don’t find money from somewhere, this opportunity may not come around again. Whatever your individual circumstances, you still might need a loan the provides you with quick and easy access to funds.
This is where a caveat loan comes to the forefront, because it allows you to be able to gain access to the equity in your current property, so that you can use it for essential business purposes. Before you start thinking that this is a second mortgage, it definitely isn’t, and hopefully the following features will help to explain it a little better.
- It restricts in a positive way – If you take out a caveat loan, then this permits your lender to provide you with the money that you need and it is secured against your property. The lender will then place a caveat against your property and this means that you can no longer sell it. Here is the positive highlight because it restricts you from getting another form of funding using the same property. This keeps you in check financially because it stops you from making additional applications for a loan on the same property. This means that you cannot put yourself further into debt and it helps to control your borrowing.
- Quick & straightforward – If you need some short-term finance, then you need to be able to get a quick approval, and quick access to your funds. This is one of the key benefits of a caveat loan, because it is very straightforward to do, and it only takes a moment to complete your application online. You can do this from the comfort of your office or your home, and it shouldn’t take any more than 48 hours for the approval of your loan. This type of loan allows you to be able to deal with cash flow problems today.
With regards to your application, the bare minimum of documents is required, and they generally only want to see proof of your income, and they can base an informed decision on that.
