For Real Estate Agents and Business Brokers it will happen within 2 days
For Home Sellers it will happen within 3 days.
If you are applying for it as a business payment to help grow your business the interest charged will most likely be deductible. You need to check with your accountant for clarification.
We will asses each situation on its merits and in most cases we could place your advance towards a future sale or payout. If there is no future payout expected all monies owing would have to be refunded to VIP Cashflow.
At VIP Cashflow we work on an interest rate basis because it is a short term loan. Rates do vary depending on Sale and settlement; just call us directly to find out more.
You can take advantage of having your cash earlier rather than later because you may have an immediate financial goal or investment need. It could be for business Cashflow purposes or you may want to retain good salespeople by paying them now.
Generally three days prior to settlement VIP Cashflow will send you a reminder on repayment and on the day your payout settles simply deposit the money borrowed back into the VIP Cashflow account. You can repay via internet banking or go directly to an ANZ branch to deposit funds into our account.
Setup fees do apply, simply call us to find out how much these are. They vary on the style of short term loan you will be taking out.
Generally we provide advances based on 30, 60 or 90 days, however we are flexible should you have a longer settlement. We do not lend for less than 20 days.
Real Estate Agents and Business Brokers can borrow up to 100% of the monies owed to you, less application fees and the Interest due to VIP Cashflow.
Home Sellers can borrow up to $100,000 subject to their being enough equity in the home
A Minimum Loan amount of $4000 applies for Real Estate Agents
A Minimum Loan amount of $6000 applies for Agents / Business Brokers.
A Minimum Loan amount of $15,000 applies for Home Sellers.