Frequently Asked Questions
- What other finances do you offer?
- Should I finance/factor my accounts receivable or obtain a line of credit with the bank?
- What interest rates will I pay?
- What sort of security do I need?
- How long do approvals take?
- What conditions apply to loans?
- How is Southern Lending Group different from the banks?
- How do I apply?
- What happens to my confidential information?
We have access to all traditional finance options as part of our suite of products, including leasing finance for equipment, cars, machinery, etc, mortgage finance - with access to over 30 prime lenders.
- Bank factoring requires standardized financial covenants.
- Bank financing gives you less availability of funds.
- Factoring requires few, if any financial covenants.
- Factoring can provide up to 100% of your accounts receivable.
The interest rate paid will vary depending on the length of the loan, kind of security, your credit history and the purpose of the loan. Interest can be paid in several ways, usually interest only. In some cases, interest can be paid at the beginning or the end of the loan term.
For smaller loans, we will look at many types of security including cars, invoices, art and shares. For larger loans we will require property or business assets/ invoices.
Approvals can usually be given in a matter of days if we receive detailed information on the loan requirement, ability to repay and kind of security. This will make the process as quick and easy as possible.
This website is meant to convey general information only and the products described are subject to the usual credit conditions such as appropriate security, valuations, sufficient income to service the loans, credit checks and the assumption that the information you provide to us on your application form is correct. Any errors in this website do not mean that Southern Lending Group is liable for any losses incurred through relying on this information and it is your responsibility to check any terms & conditions that apply. It is best to contact us for a free business advisory session and then we can tailor a facility to suit your business.
- Banks are lending institutions that need to deliver consistently large profits to their shareholders year by year and they tend to be very conservative and risk-averse for this reason. Southern Lending knows that risk and reward go hand in hand.
- Banks and finance companies can be staffed by employees who often have little if any experience in business. They are usually young and trained by their organisations to follow a recipe for selling their products that doesn’t allow for any circumstances “outside the box”. We have many years of experience in business covering different market sectors so we understand how to structure finance creatively.
- Banks will only accept standard securities for their loans – usually first mortgages. Because we are experienced in business, Southern Lending will accept a range of different security options.
- Banks can’t respond quickly in the case of emergencies because their approval processes are long and complicated and the client never really speaks to the decision-maker, whereas we are a credit provider so can utilise our own funds in-house.
- Banks tend to favour men through their lending criteria even though women are twice as likely to be successful in small business ventures in Australia. The principal of Southern Lending is a woman and she understands what it’s like to be a woman in business – you have to be smarter, faster, better-educated, work harder, have more resources and network better, just to have access to the same opportunities – and then there’s your kids, family responsibilities and housework, which don’t go away just because you’re in business!
You can contact us directly on the numbers below for an initial appraisal. You can also go into the relevant loan type page, download an enquiry form and fax it back to us, or enter your details into the website for us to contact you.
Click here to read our privacy policy.
Click here to contact us for a free cash flow advisory session.
