When people hear that Strive Financial can fund a loan within 24 hours, they are understandably sceptical. Banks take weeks. Sometimes months. How can a lender responsibly assess and fund a loan in a single day?
This is the story of how we did exactly that — and why the speed of the process was the difference between a deal that settled and one that fell apart.
Note: Names and identifying details have been changed to protect client confidentiality. The scenario and timeline are based on a real transaction.
The Situation
David runs a growing logistics business on the Gold Coast. For months, he had been looking for a larger warehouse to consolidate his operations, which were spread across two leased premises. The right property had never come up — until it did, at auction.
A 1,200-square-metre commercial warehouse in an industrial precinct came up for sale. It was well-located, appropriately sized, and priced below David's valuation. He registered to bid, set his limit, and won the property at $1.85 million.
Under the auction conditions, settlement was required within 28 days. David had paid the 10 percent deposit — $185,000 — on the day. Now he needed to fund the remaining $1.665 million, plus stamp duty and legal costs, within four weeks.
The Challenge
David's first call was to his bank. He had been a business customer for over a decade and expected a straightforward process. The bank's response was sobering: they would need current financials, a formal valuation commissioned through their panel, a full credit assessment, and approval from their commercial lending team. The estimated timeline was six to eight weeks.
David did not have six to eight weeks. He had 28 days — and the clock had already started.
He approached two other banks and received similar responses. One suggested he could apply for an extension with the vendor, but there was no guarantee it would be granted. The deposit — $185,000 of his own money — was at risk if he could not settle on time. The vendor's agent made it clear that other buyers were waiting in the wings.
With three weeks remaining and no viable bank option, David's broker suggested contacting Strive Financial.
The Strive Solution
David's broker called Strive on a Tuesday morning. Here is what happened next:
- Tuesday, 9:00 AM — Application submitted. The broker provided the key details: property address, purchase price, loan amount required, a brief description of David's business, and the proposed exit strategy — refinance to a long-term bank facility once the bank's process was complete.
- Tuesday, 11:30 AM — Lending committee review. Our lending committee reviewed the application. The property was in a strong industrial location with good comparable sales data. The loan-to-value ratio was within our parameters. The exit strategy — bank refinance — was realistic given David's trading history and the quality of the asset.
- Tuesday, 1:00 PM — Approval confirmed. A letter of offer was issued to the broker, outlining the loan amount, interest rate, term, fees, and conditions. The loan was approved at 70 percent of the purchase price, with the balance covered by David's deposit and additional equity in an existing property.
- Tuesday, 2:30 PM — Legal documentation commenced. Our in-house solicitors began preparing the mortgage documents, loan agreement, and ancillary security documentation. Because our legal team is internal — not outsourced — there was no delay in briefing external lawyers or waiting for third-party availability.
- Wednesday, 10:00 AM — Documents signed. David and his solicitor reviewed and executed the loan documents the following morning. There were no surprises — the terms matched the letter of offer exactly.
- Wednesday, 3:00 PM — Funds released. Less than 31 hours after the initial application, the loan funds were released to David's solicitor's trust account, ready for settlement.
The property settled 12 days later, well within the 28-day deadline. David's deposit was protected, the vendor was paid on time, and the deal was done.
The Outcome
David moved his logistics operations into the new warehouse within two months of settlement. By consolidating from two leased premises into a single owned property, he reduced his monthly occupancy costs by approximately $8,000 per month and gained significantly more operational space.
Three months after settlement, David's bank completed their assessment and approved a long-term commercial loan to refinance the Strive facility. The bridging loan was repaid in full, exactly as planned.
The total cost of the Strive bridging loan — including interest, establishment fee, and legal costs — was approximately $35,000. By David's own estimate, losing the property would have cost him far more: the $185,000 deposit (potentially forfeited), the ongoing cost of dual leases, and the lost opportunity of a below-market acquisition that may not come around again.
Key Takeaways
David's story illustrates several important principles about bridging finance:
- Speed has a value. The total cost of the bridging loan was a fraction of what David stood to lose if the deal fell through. Evaluating a loan purely on its interest rate misses the bigger picture.
- Banks are not always the answer. David had a strong relationship with his bank and a solid business. The bank was not saying no — they simply could not move fast enough. This is a common scenario, not an edge case.
- A clear exit strategy is essential. The reason Strive could move quickly and confidently was that the exit strategy — bank refinance — was well-defined and realistic. The better your exit plan, the smoother the process.
- Brokers add enormous value. David's broker knew when to pivot from the bank process to a private lender. That single piece of advice saved the deal. Good brokers have relationships across the lending spectrum and know which lender fits which situation.
Could Strive Help You?
If you are facing a time-sensitive funding challenge — whether it is a property purchase, a business acquisition, or a cash flow gap — we may be able to help. Every situation is different, but the process is always the same: fast assessment, clear communication, and no surprises.
Strive Financial provides business loans from $50,000 to $5 million, secured against property, with funding in as little as 24 hours. No financials, no credit checks, no upfront fees. Contact us to discuss your situation, or apply online to get started.