If your lender is using 2021 numbers, you might qualify for more borrowing power now. Some low-cost lending products can use your growth from July 2021 through May 2022 to increase your capacity, though some cases need larger deposits.
Are you a business owner and you're frustrated that your borrowing power isn't as high as it should be right now? Where I'm now recording this video in May 2022 and a lot of business owners are talking to me in regards to their borrowing power related to why do I only get access to what's in my 2021 financial figures now? There's a lot of people I talk to that need to get their 2021 financial figures done so that they can get the right borrowing right now. But there's a lot of business owners that have come out of COVID come out of the lockdowns and they've now had a massive increase in their circumstances, their turnover, their businesses general. So I've been working with a few business owners now that have had that massive increase in the last 10 months or so of where they're at now in the financial year and they want to unlock that ability to borrow. And there's few products out there with the banks to be able to do this. And with the current market we are seeing that some of these lending products are low cost. The interest rates have been really interesting where comparing to the bigger banks, we're finding that they are fairly similar and we are able to get it done. And as long as we can get it done in a nice cheap professional way, one of the catches might be that you're going to have to put more deposit in. We've been able to get some nice approvals across the line for people's circumstances, whether it's buying an ex wife out, whether it's purchasing the next or sneaking in the next investment property, whether it's just starting the investment property journey, we're able to use the uplift that's happened from the 1st of July 2021 through to now May 2022. So if you're in these circumstances and you've got an opportunity on the table right now that you want to jump on and the traditional lenders will not let you get there. Reach out to me so that I can have a look at your circumstances and put you on the right path of your lending journey as a business owner. Alright, have a great day.
