FAQs

Yes. Lease is one of the asset acquisition credit facilities available for business assets. The others are Rent-to-Own, Commercial Hire Purchase and Chattel Mortgage.

Interest rates on business asset loans vary with the different types of credit facilities and for different applications. The rates advertised by lenders will typically be for new goods and for applicants with good credit histories. Rates can vary with new and used goods.

New venues that do not have all or any of the financials to meet the application requirements and/or have not been trading for the minimum time as set by some lenders, can source lenders and brokers that offer low doc and no doc loans.

Business assets including equipment for hospitality venues may be financed with the operator’s choice of Chattel Mortgage, CHP, Lease and Rent-to-Own.

Including the full purchase price of assets in finance, that is with no deposit required, can be approved. Approval is subject to individual assessment of the application by the lender.

When numerous units are being purchased at the same time from the same supplier, they may be included in the one loan arrangement. This is subject to individual lender guidelines and specifics of the purchase.

Yes. Applications for business loans can be made and approved prior to purchase. Applicants will need to estimate the loan amount required and provide as much detail as is available on the goods to be financed. Approval is conditional and the application and any offer finalised post-purchase.

A wide range of equipment used in restaurant kitchens may be purchased with finance. Preparation counters may be approved as suitable for financing.

To apply for a commercial loan, businesses must have an ABN and are requested to provide bank statements, tax returns, annual accounts and other financial documentation.

A balloon is an optional component of Chattel Mortgage and Commercial Hire Purchase finance agreements.