What you need to know about online loan applications

Have you seen those “easy online loan applications” from lenders? These initiatives allow you or your broker to instantly submit and lodge applications, with the new interface promising less rework, faster loan approval times and streamlined business operations.

While we love that you can directly upload supporting documents via these platforms, use tools like DocuSign to digitally sign paperwork, and complete your entire application online, it is still imperative that you know that your circumstances are a fit for what the lender will approve.

Otherwise, approaching the wrong lender will affect your credit rating.

Self-employed clients, such as yourselves, will always need their broker to have a good understanding of your business, your current cash flow and profitability, and any related company liabilities, including ATO debts, before recommending lenders and preparing funding applications.

A great broker will make sure you have a well-prepared credit submission, and educate you against a hurried and sloppy application that gets declined and adversely affects your credit ratings.

You deserve a Broker with expertise, specialization, and a proven track record. Winquote SME Finance, have been a commercial Finance Brokers for 20 years and have assisted business owners and their families, friends and associates, secure all types of business funding including Specialised Property to Home Loans .

As ServoPro member you will be treated as part of the tribe. We would love to be your trusted financial partners and help manage the lending relationships going forward and assist you with your wealth creation strategies.

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