Business

Whether you're looking to upgrade your company car or purchase a new vehicle, there are many loan options to choose from.

We will work with you to understand your circumstances and ensure that we find the best fit for your needs. Then, we will make all the comparisons for you and more often than not, we can beat the dealership's repayment figure.

Make sure to book an appointment with us. We take the time to understand your situation, and from our conversation we may determine an alternative finance option.

For small business owners looking for extra funds to help their business, an unsecured business loan could be suitable.

An unsecured business loan doesn't require you to provide physical assets or property for security. Generally these are for smaller loan amounts, and they will have specific requirements for eligibility.

Before applying for a loan, it's important to check with a professional on whether it's the best loan for your business requirements. We'll consult with you and gain a full understanding of your business in order to provide the best advice and connect you with the most appropriate finance option.

You can read more from our blog here.

A secured loan means that you will have collateral to secure or support your loan – such as property, accounts receivable, or inventory. If you use property as security, the bank holds the title until the loan is repaid.

Secured loans usually offer higher loan amounts, with lower interest rates, and longer loan terms – so lenders want more assurances that you can repay on time. This means they have stricter business requirements to meet.

Secured loan applications are more likely to succeed if your business is more established, particularly with value assets and a strong credit history. If you don’t think your business will meet the stricter requirements of a secured loan, you might want to consider an unsecured loan.

You can read more from our blog here.

Many business owners aim to buy their building - and a commercial property loan will help you to achieve this goal.

We have extensive experience in obtaining commercial property finance, and have assisted our clients to purchase warehouses, retail space, professional offices, commercially zoned vacant land, and workshops.

Our connections to our lenders mean that we can offer excellent commercial finance options that you may not know about. Choose from interest only loans or principal and interest loans.

Have a look at our Loan Repayment Calculator or get in touch to look at your options.

If you're looking to buy new equipment, or replace/upgrade existing equipment for your business, consider equipment finance to assist.

Generally, lenders will provide finance secured by the equipment being purchased or hired. This can be for electronics, machinery, fit-outs - basically any tangible asset other than real estate.

Equipment finance provides peace of mind, as you have set monthly repayments. Agreements can be in the form of an operating or finance lease, or a hire-purchase.

Please note that if you require heavy machinery, you would most likely be recommended plant and machinery finance. If you require a vehicle, there are a number of vehicle finance options available. Our team's experience in business and commercial finance will be able to provide you with the best solutions for your circumstance.

Don't forget about the instant asset write-off scheme. This scheme allows small businesses to claim immediate deductions on purchased assets, with no limit, each financial year (previously capped at $150,000 annually). You can read more here.

A chattel mortgage is a fancy term for a business or commercial vehicle loan. A chattel mortgage is similar to a regular car loan, with regular repayments, but your company has many more benefits.

You will own your vehicle outright. However, the finance company will place a mortgage over the vehicle as security against the loan. Meaning you can claim certain tax benefits during the life of the loan.

Both businesses and individuals are eligible for a chattel mortgage as long as the car is used predominantly for business purposes. Your vehicle needs to be used primarily for work (51% or more) to be eligible.

For example, if you're a tradie using your ute to move equipment from site to site, you may qualify for a chattel mortgage.

A chattel mortgage may not work for every individual or business, but it's certainly worth a chat.

Does your business require heavy machinery, machine tools, construction equipment and manufacturing equipment? These high-value assets help to make your processes more efficient – but it’s not always possible to commit your own cashflow to purchase the machinery. In these cases, you may wish to consider plant and machinery finance.

From purchasing new items to refinancing existing plant to replacing your existing machinery, we can determine a finance solution to help maximise business cashflow and tax deductions.

Don't forget about the instant asset write-off scheme. This scheme allows small businesses to claim immediate deductions on purchased assets, with no limit, each financial year (previously capped at $150,000 annually). You can read more here.

This type of finance is used towards a large asset, such as a truck, trailer, or other large commercial vehicle. This can be:

• Chattel mortgage, where you are considered the owner of the vehicle - but if you fail to make repayments and default on the loan, the lender may repossess the asset
• Lease agreement, where borrowers don't technically own the asset, but lease it - and at the end of the lease period you don't own the asset
• Hire-purchase agreement, which allows use of the vehicle as you pay it off and the ownership of the vehicle is transferred to you once the final payment is made.

Talk to us for professional and trusted advice on the type of finance that is most suited to your circumstances.

It's important to remember that you have more than one option for vehicle finance.

A car lease is an arrangement where the lender purchases a vehicle on behalf of a customer. This customer then leases the car back from the lender. In exchange for using the vehicle, the customer makes regular payments.

If you are a person or business who regularly needs to change their vehicle, then a car lease could be an excellent option for you.

Be careful though, just like renting a house, leasing a car does not grant you complete ownership, and there may even be some restrictions around its use.

If you are not sure whether a car lease, chattel mortgage or car loan is the right option for you, get in touch with one of our brokers for a chat.