FAQs

Applicants that have been rejected by a bank may seek non-bank lenders and brokers that offer services to assist operators with poor payment history.

Yes. All types of operators with an ABN are eligible to apply for all types of commercial lending.

GST rego is not an essential requirement for any commercial funding application but may be considered as a positive by some lenders.

Yes. All features of the selected funding product may be realised once applications are approved. The balloon is an option with CHP and Chattel Mortgage.

Yes. All vehicle lending applications can be submitted for approval prior to a vehicle being selected. It can be advisable for applicants with poor scores as they may receive confirmation of their lending limit.

All applicants for heavy vehicle funding have the choice of Chattel Mortgage, Rent-to-Own, Commercial Hire Purchase and Leasing.

Yes. Once an offer is made and accepted, the applicant can receive the tax deductions which apply to the choice of funding product.

The total amount approved can be limited in some cases for applicants with a history of bankruptcy. This will depend on the matrix used by lenders for approvals.

Lenders have their own guidelines when making funding offers for all applicants. The overall offer – rate, term, amount and any conditions may be influenced by the profile and history of the applicant.

Where less than good creditworthiness is assessed by lenders, the applicant is deemed a higher risk than good profile applicants. This can result in a rate higher than the best available being offered. Workable rates may be achieved through the right lenders.

Operators with issues with their creditors and other difficulties have the same application process as all applicants. They are encouraged to provide as full financials as available and as much detail on their situation. The reasons around the difficulties can be significant for lenders to approve applications.

When applications are approved for heavy vehicle funding, operators may select the most appropriate product from Leasing, Rent-to-Own, CHP and Chattel Mortgage.