Business Owners Line of Credit Loan Agreements to Their Company with Security

Tough times ahead… Recession looming?

 Is the money your company owes you at risk?

Be smart derisk like the big banks do with loan security & collateral. Manage risk by formally documenting what your business owes you and adding a registered security interest. Credi’s Do It For Me team can do this for you within 24 hours for just A$399.

The amount of money you are owed may vary as you put in / takeout money and cover company expenses on personal cards so our line of credit loan agreements and registered security interest are set up to cover these within a $ limit you define.

If you need to change the amount, remove or shift the priority of your security interest we can do that for you with our ongoing support service.

 

Benefits of Acting Now

  • If a borrower goes into liquidation lenders with a registered security interest may have priority rights over some or all the borrowers assets where as lenders without a documented loan agreement & registered security may find themselves at the back of the queue and less likely to be repaid.
  • Priority between two or more  registered security interests is determined in favour of an earlier registered security interest over a later one.
  • With strict timing rules applicable there are benefits to get your loan agreement and registration in place ASAP

How to get one TODAY

 
  •  Our ‘Business Owners Line of Credit Loan Agreements to Their Company with registered security’ solution is available from the Credi ‘Do It For Me’ team and can be set up in 24 hours
  • Email do.it.for.me@credi.com  or text 0448 617 280 with the subject line “SEND INFO” and we will respond with  the information we need and next steps.
  • For simple loan agreements without a registered security interest lenders can use Credi’s freemium DIY self serve  solution, 

Costs

The cost for the  Credi’s  “Do It For Me’ team to set up your  ‘Business Owners Line of Credit Loan to Company with Security Interest’ is  A$399 ex gst

You can have Credi manage your PPSR security interest registration for $99 per year from year two, we will handle any changes you want to make to the  PPSR registration such as removing the interest or allowing another interest to take priority.

Assets for a Security Interest

Lenders can accept a wide range of your assets as security for a loan, almost anything of value. There are four broad categories of personal property (assets) that a lender can register a security interest in, personal property is all forms of property other than real estate. The Credi DIFM concierge team will guide you through the options

  • General property (the PPSR ‘AllPAAP’ coverall option is our default option)
  • Tangible property including; vehicles, machinery, stock in trade, art, crops & livestock.
  • Intangible property including intellectual property, patents, copyright & licenses.
  • Financial property including; shares, debentures, bonds, assignable options  or foreign exchange contracts.
  • Read more..  

What is the PPSR?

In Australia the Personal Property Securities Register  (PPSR) is a government run single, national online database that shows you whether someone is claiming an interest in goods or assets. It provides information to help protect consumers when they are buying personal property such as cars, boats or artworks (not including land or buildings). Read the Australian Government guide to PPSR 

Next Steps & Information Need

Email do.it.for.me@credi.com  or text 0448 617 280 with subject line “SEND INFO” and we will respond with a short list the information we need which is:

  • Lender entity full legal name, this is probably your name.
  • Lenders address, phone number & email
  • The Borrower entity full legal name, this will be your companies name
  • The full legal name of the person(s)  authorised to sign on behalf of the borrower eg the companies  directors.
  • The amount that you want to set as a cap / limit that will be covered
 

We will then send you an email:

  • Confirming details and a draft of your loan agreement for checking  and then signing. 
  • Invoice & link to make online payment of the A$399
  •  

When you have made the payment and sent us the signed loan agreement we will then register your security agreement  with the PPSR and send you official confirmation for both lender & borrower that the loan & security interest is in force and registered,