Top 10 Reasons To Get a Private Business Loan with Diverse Funding Solutions

By: Aaron Robbins0 comments

The right business finance can be the key that unlocks the next chapter in your business venture, or what helps to get your business off the ground in the first place. Experienced business owners and new business owners alike can find it challenging to secure funding to facilitate a range of business needs.

With a vast range of finance options, and a lending structure unlike traditional lenders or banks, we explore the top 10 reasons to get a private business loan with Diverse Funding Solutions (DFS).

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What is private lending?

Private lenders (often called private money lenders) are lending institutions in Australia that aren’t banks or credit unions. A private lender is generally either a company, wealthy individual or group of individuals who offer private business loans to Australian businesses through an intermediary (like Diverse Funding Solutions). Private lending isn’t generally available to individuals (for example, in the form of personal loans), only businesses, and as such, is a type of commercial loan.

What can I use a private loan for?

Due to being a form of business finance, business owners use private loans for a range of business purposes, including:

  • Purchasing commercial property.
  • Property loans and construction finance.
  • Funding property development.
  • Paying out other business debt.
  • Financing their startup.
  • Improving their working capital.
  • Renovating or expanding their business.

Are private loans secured or unsecured?

Most private loans are secured, typically using an asset that the business owner (or business) owns to provide the collateral to secure the finance. Usually, the assets that back private loans are residential property, commercial properties, land or agricultural assets.

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Why you should choose Diverse Funding Solution as your private lender

There are many reasons to get a private business loan through Diverse Funding Solutions, here are the top 10:

1) Super fast service

At DFS, we understand that the most important business decisions often can’t wait around for finance. That’s why we offer super fast service, to get you money quickly. We can get your loan application approved and funded in as little as 24 hours, in some cases!

A one-day turnaround on finance is simply unheard of with the big banks, and is why private lending can be a terrific option when you need an immediate boost to your business cash flow.

2) An uncomplicated application process

The reason we can offer such efficient loan processing and funding is largely due to our straightforward and uncomplicated application process. Unlike a traditional lender, we don’t require a mountain of paperwork. One of the benefits to accessing non-bank lenders is that you don’t have to provide the same amount of documentation that you do for traditional bank loans!

3) Personalised financial solutions

Every business is different, with different needs. That’s why Diverse Funding Solutions provides personalised financial solutions for each business. This is another point of difference between private lending specialists and bank lenders — we focus on working with you, rather than working to a rigid set of lending criteria that provides no flexibility to meet your unique circumstances.

4) Sincerity and simplicity

Like you, we are an Aussie business. Our approach is to provide simple solutions, with sincere advice, that isn’t laced with finance jargon. We genuinely care, and operate to help Australian businesses through the entire process.

5) A vast range of finance options

Diverse Funding Solutions offers over 20 different finance solutions for commercial purposes. Not sure which option suits your needs best? We can help you find the right loan for your particular business purpose.

6) Competitive interest rates

At DFS, we offer some of the most competitive interest rates in the private lending market!

7) No credit checks

Other lending institutions such as the major banks rely on the results of a credit check to support the loan application. At Diverse Funding Solutions, we don’t need to assess your credit history in order to get your loan approved — instead, we look at setting an exit strategy for how the loan is to be repaid.

Bad credit is usually a formidable barrier to getting finance through other lenders, but it doesn’t need to be with non-bank lenders, such as those accessible through Diverse Funding Solutions.

8) Flexible repayment options

Private funding comes with the advantage of formulating a repayment schedule that suits your business cash flow. Most private lenders will look at devising an exit strategy for how the loan is to be repaid, and then set out a repayment schedule from there.

For property developers, often the exit strategy is the sale of the completed project. For bridging finance, the sale of the existing property satisfies the repayment needs. Other exit strategies might include selling inventory, expected lump sum proceeds, the primary place of residence or revenue from a seasonal industry.

10) Diverse Funding Solutions accesses Australia’s top private lenders for business loans

As an experienced loan facilitator and commercial aggregator, Diverse Funding Solutions has access to over 200 private lenders.

If you want to access the best private lenders in Australia, contact Diverse Funding Solutions— we will assist you at every step to make sure that your business dreams can become a reality, using private funding.

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FAQs about private lenders

Do I need professional advice before taking out a private business loan?

There is no requirement to have professional advice sought before you borrow money through a private lender, however, we always advocate that business owners seek any advice they feel is necessary before making significant business decisions (including accessing private funding).

What documents do I need to start a loan application?

The documents you’ll need to submit your loan application will depend on the type of private loan you’re applying for. Generally, we’ll need the details of your business, your identification, and any financial statements available to support your application. From here, we can work with you to acquire any further loan documents.

What are the loan terms of DFS business loans?

Depending on the loan facility, the loan term of a DFS private loan can range from a couple of months up to 2-3 years. This makes most of the finance solutions we offer, short term loans. We will work with you to find a loan term that suit your needs and repayment schedule.

Is it risky to use private lenders?

Private lenders need to ensure that they are entering into a lending transaction that is low risk for both themselves and their business borrower. Diverse Funding Solutions are a fund facilitator commercial aggregator with access to Australia’s top private lenders to source you a lender that meets your needs and allows you to access private funds with confidence.

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