Client: Nob*nk.
Article 1:
How do I know if I’m speaking to the right lender?
Ever since the Banks started to withdraw from helping many small businesses with outside the box needs, and those who just don’t smell of roses, obtaining effective finance solutions for many small business owners has been – let’s say, almost impossible.
In this article, I’m going to give you some answers. I’m going to save you some time and money and for many of you, I’m going to save you lots of pain, frustration & grief.
If you tune into the media about what is happening now and what is going to happen in the future, you’re likely to be more confused than when you started. So how do you figure out what is going to happen? How do you figure out who to turn to?
The short answer is: It’s always best to speak to an expert who spends countless hours each week researching the market. Someone, who is working with exactly what you are interested in or needing… simple, right? Ummm… No, I hear you say?
In recent years and especially recent months, a multitude of new, shiny options have emerged into the market to provide solutions to this segment of business the banks have very much lost interest in – small businesses that need quick, short-term solutions.
The problem is that everyone has their own opinion, and in many cases, their own agenda. Not to mention, there are literally hundreds of lenders now, all shouting for your business. Some lenders just want to take you off the market to then determine at their pace, whether they can or even want to help you and offer you a loan or not.
But be warned, if you speak to the wrong lenders or start firing off applications to try and save yourself some time, it can back-fire on you very quickly. The reason is, each time a lender or broker does a credit search on you, it damages your credit file by reducing your credit score. It also tells the lenders that you are ‘shopping around’. Whilst there is nothing wrong with comparing your options - you should have this done - you may be doing more harm than good. Often, this damage can’t be undone and can end your chances of a good solution, or at least cause your costs to skyrocket.
In many cases, some are waiting for you to become desperate and run out of options so that you will pay the exorbitant upfront fees, interest rates and additional costs I’ve never even heard of.
Let’s be real… it’s just impossible for you to research, interview and properly assess well over 200 lenders in the market, many of which will not even be remotely close to your needs and wants.
So, just as ‘Radical Necessity is the real Mother of Invention’, we’ve done the hard work for you.
I started No B*nk to help you get finance that doesn't cost an arm and a leg. I want to be the one you can turn to when the bank said NO. We help people and business owners the banks won't. And above all, we're a bunch of real people you can talk to and get answers from.
We provide real solutions for real people with real problems. When you’ve been rejected by the Banks, when you can’t go to a Bank, or if you don’t want to go to a Bank, come to No B*nk. We’re here for you.
Article 2:
What questions should I ask myself & lenders before seeking business or commercial finance?
In this article, I’m going to give you some answers. I’m going to save you some time and money and for many of you, I’m going to save you lots of pain, frustration & grief.
If you’re a business owner and you’ve been seeking finance for residential or commercial property in 2020, it’s very likely you’re confused by now and probably given up searching.
It’s not been easy to find finance, let alone at a fair cost. During COVID-19, funds were extremely scarce and at best, very expensive. A lot of private funders called back their funds and sat on them until they were comfortable to lend it out again. This is happening now.
The banks have pulled back and in many cases are no longer willing to help many categories of small business owners. However, at No B*nk, we saw the opportunity to help more clients with solvable problems, achieve the outcomes you need to grow your business and profit. Time and time again, our happy customers tell us… ‘No Bank does that!’, as we hand over their loan documents to sign, as they receive the keys to their new business premises, or when their new stock shipment arrives at their warehouse.
At No B*nk, we believe that when adversity is prevalent in the marketplace, you can either be a victim OR you can solve the problems. So, that’s exactly what we have done. We set out to solve a vast amount of the common and obscure problems business owners have been facing and will be facing in the current and future economic environment.
Here’s my Top 8 Questions to ask yourself and your Lender when seeking the right business finance option.
Ask Yourself:
· What assets do I have as suitable security?
· What do I need these funds for?
· Will these funds help grow and improve my business?
· How and when will I pay back the loan?
Ask your Lender:
· What is the total cost of the loan?
· What are the terms and conditions?
· What happens if I pay off the loan early?
· What collateral do you require?
Once you have the answers to all of these questions of yourself, you can ask the questions of the lender. You can call us on 1300 NO BNKS (66 2657). Rest assured we won’t waste your time.
I started No B*nk to help you get finance that doesn't cost an arm and a leg. I want to be the one you can turn to when the bank said NO. We help people and business owners the banks won't. And above all, we're a bunch of real people you can talk to and get answers from.
We provide real solutions for real people with real problems. When you’ve been rejected by the Banks, when you can’t go to a Bank, or if you don’t want to go to a Bank,
come to No B*nk. We’re here for you.
Article 3.
Opinion Piece – Big Four Bank fined $15m for breach of engaging unlicensed introducers.
Yet another Big Four Bank in the spotlight for all the wrong reasons, and how you can benefit and help small business owners at the same time.
Recently the finance media lit-up with a myriad of articles ousting a Big Four Bank for engaging hundreds of unlicensed home loan introducers. These introducers are not licensed to engage in in-depth conversations with clients or collect documents or application forms on behalf of the Banks. Although only one bank has been caught out, it’s highly possible others followed suit and more news could arise in the near future.
These forementioned activities constitute what is called ‘credit activity’ which is undertaken by professional, trained and licenced mortgage brokers or finance advisers. These activities were flagged during banking royal commission in 2018.
A referrer or spotter program is designed for individuals or business owners to refer a friend or a colleague to a trusted adviser or lender. It was not designed for someone to be seen as ‘brokering’, impersonating or doing the work of a trained, qualified and licensed finance professional.
At No B*nk we are always happy to pay a spotter fee or referrer fee to recommend a friend, family or colleague to us. All you provide is a name and contact details. Our referrer fee does not change according to the level of details provided. All of our referrers receive up to 30% of the commission received for the same details – A name and contact details, following the successful settlement of any referred loan. It’s that simple.
I believe this is NOT the last you will hear about Banks getting up to mischief and schemes like this going bad. Trust is an extremely important commodity in business, one which we value greatly. It’s no wonder there is a strong and growing trend of customers moving away from the Banks and choosing to work with professional Brokers and Non-Bank Lenders like No B*nk.
We’re here to give YOU a fair go. We’re here to provide a strong alternative to the banks
I started No B*nk to help you get finance that doesn't cost an arm and a leg. I want to be the one you can turn to when the bank said NO. We help people and business owners the banks won't. And above all, we're a bunch of real people you can talk to and get answers from.
We provide real solutions for real people with real problems. When you’ve been rejected by the Banks, when you can’t go to a Bank, or if you don’t want to go to a Bank, come to No B*nk. We’re here for you.
Article 4.
Private funding is no longer a dirty word
Private funding has become very much a mainstream industry and is growing at an alarming rate. But, as many have discovered, all is not equal. It pays to know what to look for & where to find it.
For as long as I can remember, the stigma surrounding the thought of having to use a private funder for short-term finance & cash-flow needs suggested you were a poor credit, high risk customer who had run out of reasonable options. The costs were undeniably high and terms were extremely rigid and strict. Essentially this market was known as providing costly solutions for desperate customers.
Many have said it’s high time this industry evolved with the times and provided cost effective solutions for a broader market of good, viable customers. Over recent years, many more options are now available. The stinky stigma has largely subsided, although still present due to a range of scalpers who still exist in the market taking advantage of those who are visibly & obviously desperate.
With a vast selection of options, many business owners and property investors are now preferring to not use a Bank. This means you get to release a myriad of covenants imposed by the Banks, who have become a little more nervous and a lot more selective with customers within this market sector.
But be warned, with the huge selection of private lenders comes a vast variation of rates, fees and costs associated with the evolution of an industry. As the market has opened up, more and more middlemen want a piece of the action, and of course with too many people wanting a piece of the pie, the costs rise accordingly.
At No B*nk, we have done the hard work for you. We’ve research, interviewed and documented hundreds of options to suit a wide selection of customers and scenarios to suit your personal needs. We don’t add on extra fees if a customer is referred to us from a broker or professional services expert.
We’re able to provide some super rates with-out the catches. We’re even able to, with selected lenders, provide options which don’t require a valuation and associated upfront fee. This means we can provide extremely cost effective and super quick solutions to you.
We can even provide private equity funding solutions as well! So, we can fund your next buy-out, acquisition or other suitable investments.
I started No B*nk to help you get finance that doesn't cost an arm and a leg. I want to be the one you can turn to when the bank said NO. We help people and business owners the banks won't. And above all, we're a bunch of real people you can talk to and get answers from.
We provide real solutions for real people with real problems. When you’ve been rejected by the Banks, when you can’t go to a Bank, or if you don’t want to go to a Bank, come to No B*nk. We’re here for you.
Article 5.
Get your funding ready before the Christmas shut-down!
Business & commercial borrowers need to prepare their funding requirements NOW before it’s too late before the Christmas shut-down.
If you want to know what it’s like to do it tough, just ask a small business owner. Hundreds of thousands of small businesses owners were shut down through COVID-19, many have only just begun to start to even begin to try and put the pieces back together. Many have been crushed and will not re-open.
Our country relies heavily on small businesses succeeding. Quite frankly, I’m not convinced the Banks are doing all they can to help us small businesses through these uncertain times and provide the much needed support and funding required to rebuild a nation.
Sure, we see the adverts ‘saying’ they’re standing up for small business and they are listening and responding to the market. But, are they really doing enough?
Have you received the support and funding you needed, when you needed it? Whilst I’m sure there are happy stories to tell, I know there are far too many heartbreaking stories that don’t make it to the media headlines. Stories of small businesses and families torn apart, stories of bankruptcy and foreclosure.
If the Banks are not the solution then chances are, we are. No B*nk was started to provide an alternative to all the banks out there. We work with nothing but private and non-bank lenders, hence our name ‘No B*nk’. We recognised that the rules and regulations of many banks were outdated and impractical to us, favouring those who looked good on paper and overlooking so many other people for a variety of unfair and obtuse reasons.
In case you haven’t noticed, Christmas is only just around the corner. If you’re a small business which was previously doing well before COVID struck, or you’re an emerging business off the back of the pandemic and you need funding for a worthwhile project or purpose, then talk to No B*nk.
But a word of advice, make sure you have a clear plan and story as to what you want to achieve and how you will pay back the loan on-time. I’ve seen all too often, disastrous outcomes when a client doesn’t communicate & complete the loan on-time. At No B*nk, we ensure clear communication between all parties, avoiding messy break-ups we often see.
I started No B*nk to help you get finance that doesn't cost an arm and a leg. I want to be the one you can turn to when the bank said NO. We help people and business owners the banks won't. And above all, we're a bunch of real people you can talk to and get answers from.
We provide real solutions for real people with real problems. When you’ve been rejected by the Banks, when you can’t go to a Bank, or if you don’t want to go to a Bank, come to No B*nk. We’re here for you.
Article 6.
Could this be the cheapest residual stock finance in Australia?
No B*nk has just secured a very much needed new product to fill the void in the residual stock arena.
The Australian property market has stood tall during the economic downturn and COVID-19 pandemic. Many will go as far as predicting an upturn in the very near future in various regions.
One of the reasons is due to cheap money. Whenever interest rates are low or falling, this means it relatively cheaper to borrow and build. Many developers continue to build apartments, town houses, and small subdivisions aligned with the market demand. One of the downfalls many developers face is the ability to manage the pre-sales and cash-flow needs, especially as they move towards completing one project and simultaneously start preparing the next project.
Many frustrated developers who have not been able to sell their finished stock are paying massive interest rates & costs to pay back the original mortgage which is usually provided by a bank. This ultimately leaves them with little or no profit until they eventually sell the stock. It also leads to mounting costs and reduced profit margins.
So, how do you alleviate these pressures? Many will know, it’s not so easy to do.
No B*nk has the solution, a new funder on our panel is able to assist strong clients needing short-term funding solutions to either finish one project or start a new one. The best part is, their costs are lower than I’ve ever seen.
Our new panel funder will finance with the following terms:
Loan Amount: Up to 10M (bigger on enquiry)
LVR: 65% - 70%
Interest Rate: 6.25% P.A
Term: Up to 18 Months
Establishment: 1.1% - 2.2% depending on location (paid at settlement)
No big upfront fees
Real-estate asset lend (no serviceability requirements)
If you’re a developer or property expert who is seeking effective finance solutions for your unsold residual stock, reach out if you have a scenario or want more information. These are the cheapest funds I’ve seen around, and they’re not going to last for long.
I started No B*nk to help you get finance that doesn't cost an arm and a leg. I want to be the one you can turn to when the bank said NO. We help people and business owners the banks won't. And above all, we're a bunch of real people you can talk to and get answers from.
We provide real solutions for real people with real problems. When you’ve been rejected by the Banks, when you can’t go to a Bank, or if you don’t want to go to a Bank, come to No B*nk. We’re here for you.