We are specialist mortgage managers and facilitators of business lending solutions secured by mortgage or caveat. We are not a finance broker and do not represent or act for borrowers. Rather, we are a mortgage manager with direct access to private lenders who think creatively to fund business loans in situations where others (such as the banks) won’t.
Blue Streak is NOT a finance broker and at all times act as the representative of its lender clients. Should you believe you require the services of a finance broker or financial advisor (because, for example, you do not fully understand or have time to manage the loan process yourself), Blue Streak is more than happy to communicate with any finance broker or any other advisor you may wish to engage on your behalf.
Do you operate Australia-wide? What about New Zealand?
Yes! Blue Streak and our panel lender clients operate and fund business loans Australia-wide. We also represent to lenders operating in New Zealand.
Am I eligible for a loan?
Blue Streak’s panel lenders only lend to businesses and investors. To be eligible for one of our business loans, funds must be used predominantly for any business or investment purpose other than residential investment.
Why are your turnaround times so fast?
Blue Streak has close and well established relationships with its private lender clients and a very streamlined lending process. There are a limited number of decision makers involved in the chain and we have direct, personal access to all of them. Your loan application will not be caught up in a banking bureaucracy, nor will it be passed along from one broker to the next – wasting time and increasing your costs.
How much can I borrow?
Of course, the loan amount depends on the circumstances of each application. As a general rule, the minimum amount our panel lenders will lend is $25,000, although our lenders have approved loans up to $20,000,000.
How long are the loan terms?
Our panel lender’s terms range from 1-36 months, depending on the circumstances of your business and your funding requirements.
What are the repayment options?
Every business’ situation is different and therefore repayment options need to be tailored to the circumstances. Borrowers can make repayments weekly, fortnightly and monthly. Some of our lenders offer discounted rates in situations where repayments are made on a “Principal & Interest” basis. Interest can also be prepaid / retained at settlement, or capitalised over the life of the loan. There are many flexible lending products available.
What security do I need to provide?
Our panel lenders will lend against a registered mortgage (including second or subsequent mortgage) or caveat over real property. Because the risk for a lender with a secured business loan is lower, a secured business loan in almost all circumstances enjoys lower fees and interest rates compared to “unsecured loans” offered by many online lenders (which in most cases are not truly unsecured if you read through their contracts and the fine print).
Can I use more than one property to secure my loan?
Certainly, as long as the security provided has a total Loan to Value Ratio (LVR) of less than 75%. On certain occasions our lenders will be prepared to lend up to 80% LVR.
Why are you asking me for an ‘exit strategy’?
An exit strategy will allow Blue Streak and our panel lenders to understand how you plan to repay the loan. Possible exit strategies include: working capital; refinance; outstanding work/invoices; or the sale of the security property. If the proposed exit strategy is the sale of the security property, the rates that can be secured are generally lower than for all other possible exit strategies.
Do I need to provide a tax return?
You generally will not need to provide a tax return to obtain finance from Blue Streak’s panel lenders.
What is private lending?
Private (or non-bank lending) is funding provided by private individuals or companies that lend money for a return on investment. Although banks are the biggest secured lenders in Australia, private lenders are increasingly ‘filling the gap’ and meeting market demand by providing loans outside of the banks’ rigid and increasingly restrictive lending criteria and processes.
Get your Business
Do you need quick business funding from a private lender to help grow your business?