FAQs

Equipment used in a business can be financed with Leasing, CHP, Chattel Mortgage and Rent-to-Own.

Interest rates are offered by lenders based on individual assessments of applications. Rates vary with the type of loan, across the lender market, and with the specifics of the application.

New ventures without full financials can consider sourcing Low Doc and No Doc loan options through brokers and specialist non-bank lenders.

Some lenders do set a minimum turnover for approval for commercial financing. This criteria varies across the market and there is no standard amount for approval. The turnover figures in conjunction with the other financial documents are considered when lenders assess each application.

Chattel Mortgage and CHP derive a tax deduction via depreciation of the equipment and the interest is deductible. The monthly payments on Rent-to-Own and Lease are deductible.

Balloons and residuals are due to be finalised after the last monthly payment.

Second-hand equipment can be financed with Chattel Mortgage, Lease, CHP and Rent-to-Own. The rates, term and conditions may vary compared with new equipment.

Entire systems as an asset can be purchased with finance, subject to individual lender approval.

Terms of up to 84 months can be approved on commercial asset financing.

Yes. Applications for finance can be approved prior to purchase. The loan amount can be estimated and finalised post-purchase.