FAQs

When approved eligible as a low doc applicant, businesses can realise all the features of the selected credit facility including the option to include a balloon.

Subject to lender loan limits and individual applications, the full boat price may be included in the low doc finance.

Security for low doc financing is subject to lender guidelines and individual applications. Some applications may be required to provide collateral in addition to the vessel.

Interest rates are typically higher for personal than business loans. Loan amounts can be smaller, no tax benefits are provided, and terms may not be as flexible for personal compared with business options.

Yes. Leasing is one of the credit facilities available to low doc applicants.

 Applicants for no doc loans must have an ABN and ID as essential requirements.

All types of boats used in a commercial enterprise may be financed with no doc loans. Subject to lender approval.

Interest rates on minimal documentation boat finance are offered following the lender’s assessment of the application.

Low doc applicants have some but not all the financials required. No doc applicants typically have none of the required financials.

Low and no doc finance are not specific credit facilities. They are descriptions of the business that is applying for the loan.