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13 Things You Didn't Know About Short Term Lending

21 May 2013

With Crown & Gleeson...

1. It Is Not That Expensive

Sure the yearly rate may look high, but a short term loan is just that: short term. Typically a Crown and Gleeson loan is for five to six weeks, whilst the borrower obtains more traditional loans or when an exit strategy eventuates. With our exclusive weekly interest and no minimum or maximum period the cost is surprisingly low.

2. No Recourse Loans

At Crown and Gleeson we exclusively offer no recourse loans. If the loan goes into default and there is a deficiency in the sale price of the security then the borrower will have no further liability.
We know how hard it is for small business and it is no longer necessary for the small business owner “to put everything on the line”.

*conditions apply

3. No Upfront Fees

If the borrower does not qualify for a loan then there is absolutely nothing to pay.

4. No Valuations

At Crown and Gleeson we do our own desk top valuations without cost to the client. Valuations are normally completed in 30 minutes.

5. 24 Hour Settlements

In almost all every occasion, Crown and Gleeson are able to settle loans with 24 hours of receiving the application form.

6. Brokers Set Their Own Commission

Within limits brokers are able to set their own commission at levels generally significantly higher than in traditional lending.

7. Commission Paid At Settlement

Full broker commission is paid at settlement. This is generally within 24 hours of submitting the loan application.

8. No Accreditation Required

Brokers do not require accreditation to submit loans to Crown and Gleeson. All loans are non-compliant with the NCCC and accordingly brokers do not need to be accredited.

9. Company Borrowers Can Borrow For Any Purpose

Normally business loans must be for a minimum of 51% business purpose, but companies can borrow for any worthwhile purpose.

10. Weekly Interest

All interest is calculated weekly and there is no minimum borrowing period. If the loan is only for five weeks, then the only interest payable is for that five week period and not two months.

11. We Fill The Gap Between Now and When Traditional Finance Can Be Obtained

Typically banks take about four to six weeks to provide funds. Crown and Gleeson fill that gap with virtually instant approval and 24 hour settlements.

12. Crown and Gleeson Lend Our Own Funds

Crown and Gleeson are not brokers. We lend our own funds and can make instant decisions.

13. Thousands of Satisfied Customers

Crown and Gleeson have been lending continuously since 2002. We have thousands of happy and frequently repeat customers. Our service is second to none and customer satisfaction is our priority.

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