PRESS RELEASE: Credit Crisis for Small Businesses in Melbourne
28th August, 2020
Credit Crisis for Small Businesses in Melbourne
FOR IMMEDIATE RELEASE
Melbourne, Victoria – Small Business Lender, HomeSec Business Finance has identified a major Credit Crisis happening in Melbourne, and has announced it is now funding business loans to all Melbourne and Victorian businesses with no repayments for up to 10 months. This includes lending to businesses that have been forced to close due to Stage 3 and 4 Shutdowns.
“We are answering the call from small business owners who have been left high and dry by banks and non-bank business lenders who simply won’t lend to them due to Stage 4 restrictions in Melbourne,” HomeSec CEO Paul Stone said.
“Ever since Stage 4 was announced, most business lenders have tuned their back on their Melbourne based clients. This has created a Credit Crisis, and at a time when business owners need the support of their financiers more than ever”.
HomeSec Business Finance is a secured business lender that will fund any type of legitimate business urgently requiring from $20,000 through to $2,000,000. Funding is available within 24 hours from the time of the initial application.
As all loans need to be secured against real estate, this enables clients to be able to freeze repayments for up to 10 months if necessary.
The finance company is seeing a lot of financial pain that could easily be avoided if credit lines were still available to small businesses.
“Government Backed Business Loans are great if your business had sufficient cashflow before the Covid-19 pandemic hit. However, we are hearing from so many business owners saying they have been unsuccessful in obtaining one of these loans, or the loan amount on offer was not sufficient for their needs,” said Paul Stone.
Many builders and property developers are reporting that projects are unable to commence due to funding now being unavailable through the traditional funding sources. HomeSec has stated that its business loans are definitely now available to builders and property developers who have been left financially stranded due to the credit crisis.
Loans are also available to business owners wanting to make the most of the forced closure to refurbish their business premises.
“There are a range of needs that have to be met at the moment. From the need to survive the closure, to the need to have funds to reopen in 16 days’ time, through to the need to urgently take advantage of new opportunities,” Mr Stone said.
“Without this funding, so many commercial opportunities will be missed, and more small businesses will not ever reopen.”
Contact Information:
HomeSec Business Finance Pty Ltd
Paul Stone – CEO
Email: [email protected]
Direct Tel: 0419 875 674
www.HomeSec.com.au
