FAQs

Essentially all assets required by a commercial business operation for use in that business may be purchased with commercial financing. Individual items may require lender approval. Used assets are subject to being accepted as security.

Yes. IT and computer systems can be purchased with commercial financing. The hardware may be financed with Chattel Mortgage, Lease, Hire Purchase and Rent-to-Own. Software may be approved for financing with asset acquisition credit facilities or a secured or unsecured business loan may suit.

Interest rates on commercial asset acquisition funding vary with lenders, credit facilities and with individual business profiles and credit history.

Equipment used in the health sector may be financed with the operator’s choice of Lease, Hire Purchase, Rent-to-Own and Chattel Mortgage.

A balloon is an option with Hire Purchase and Chattel Mortgage. Leases feature a residual component. Rent-to-Own loans include a buyback option.

Tax deductions vary with credit facilities. Chattel Mortgage and Hire Purchase do not have deductible repayments, they offer asset depreciation for tax deductions. Rent-to-Own and Leasing payments are deductible.

To be eligible for commercial finance, businesses must hold an ABN and have ID. Partnerships typically meet eligibility criteria.

Interest rates and terms on asset acquisition funding are generally arranged at fixed amounts. This delivers fixed repayments which do not change over the term.

Including installation and commissioning expenses in the equipment loan will depend on whether these costs are provided by the same supplier on the one invoice. Where provided by a different supplier on a separate invoice, the expenses may be financed with a business loan or overdraft facility.

Financing equipment from overseas suppliers is available.