In 2004, businessman Paul Stone saw a gap in the business finance market. As an entrepreneur who has started many businesses in retail and transport, he was frustrated by how long the banks took to fund a business loan. “You’re a business owner, and a great opportunity comes from nowhere, and you call your bank to borrow the funds. They tell you it could take weeks to get your business loan approved, and you may not see the money for up to 3 months.” Stone said. “Then you lose days gathering and supplying all of the information they require.”
After selling transport assets in 2004, he thought that there had to be a better way for business owners to borrow money quickly.
So twenty years ago today, he started HomeSec Business Finance, which performs what seems like miracles by funding 1st mortgages and 2nd Mortgages in just 24 hours. As a person at the time with no finance or banking experience, no industry contacts, and very little knowledge of lending, he says starting HomeSec was undoubtedly the bravest period of his life.
“Lending your own money on 1st mortgages and 2nd mortgages to people you don’t know, in an industry you know very little about, and not knowing who the bad guys are from the good guys, took nerves of steel and was very stressful in those early days.” Stone said. “However, one thing that got me through was taking an honest, transparent, and commercial approach to everything my company did. If you do the right thing, the rest takes care of itself.”
In those early days, he became acquainted with many of his private lender competitors, and he says that most taught him how NOT to do things. “Coming from a business background in retail and transport, I was shocked at how poorly clients and borrowers were treated.” he said. “So, another guiding principle was to always treat my small business clients and mortgage brokers with empathy and respect.”
Incidentally, almost all of those competitors ceased operating years ago. Is it any wonder?
HomeSec business clients come in two groups. The first are those business owners who have fallen into a hole and need someone to believe in them and urgently help them out. The second group is made up of business owners who have great businesses but need urgent access to capital. The common thread here is URGENCY, and that’s exactly what HomeSec focuses on. They can fund asset-backed business owners within 24 hours from the time of the initial application.
The HomeSec motto is: If you have sufficient equity in real estate and a business purpose for the loan, we will fund you in 24 hours. This also means they will fund businesses in trouble or with ailing cashflow. and are also not spooked by bad credit scores, tax debts or other arrears.
“Today HomeSec celebrates 20 Years of Funding Small Businesses, and while they are very proud of the company’s achievements over the past 20 years, and today is a day of celebration and gratitude”, the HomeSec CEO said “I am a big believer that we are only as good as our next client or broker interaction. So bring on today, tomorrow, and the next 20 years!”
https://www.homesec.com.au
Media Contacts:Name: Paul StoneCompany: HomeSec Business FinanceEmail: [email protected]Phone: +61419875674Share:FacebookPinLinkedInEmailTweet
PRESS RELEASE: 20 Years of Funding Australia’s Fastest Business Loans
