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Stream-lined finance- making things easier for small to medium businesses (SME)

February 07, 2018

At Finance Prospects, we want to support the businesses that  generate stimulus within our economy, the Small to Medium Enterprise (SME)!

 

To make things easier as your business grows, No financials are required for commercial clients on selected motor vehicle and equipment assets.*

 

Qualifying criteria

  • Category A assets (as below)
  • Maximum loan amount of $100,000 ( $200,000 if existing client or $35,000 for other eligible assets)
  • Commercial applications only
  • New and used goods up to 4 years old (new assets only for other eligible assets)
  • Dealer/supplier sales only (no private sales).
  • ABN holder, registered for GST and business operating for a minimum of 12 consecutive months for passenger cars and light commercial vehicles
  • All other assets require a minimum of 24 months continuous ABN and GST registration
  • Verified property owner or 30% deposit ( for other eligible assets, one director must be a property owner)
  • Standard rates, terms and residuals/balloons to apply
  • Satisfactory credit checks on applicant and guarantors
  • No negative equity to be financed

Eligible products

  • Chattel mortgage
  • Commercial hire purchase
  • Lease agreement

Eligible category A assets include:

  • passenger cars and commercial vehicles (GVM of 4.5 tonnes or less)
  • small to medium trucks and trailers
  • prime movers (specialised use including cement mixers, tippers and local transport work)
  • buses (under government contract)
  • earthmoving equipment – excavators, bulldozers, graders and skid steer loaders
  • agricultural equipment – tractors and mowers
  • material handling and access equipment – forklifts, container lifts, boom lifts and scissor lifts.

Other eligible assets include:

  • Medical and dental equipment
  • Generators, welders, pumps and plumbing equipment
  • Printing equipment
  • Surveying equipment
  • Dynamometers
  • Industrial equipment (manufacturing lines, robotic packaging/stacking, food processing/manufacturing equipment and large engineering equipment)
  • Woodwork equipment (panel saws, edge banders, routers, lathes, dustless sandblasters, dust extractors)
  • Workshop equipment (CNC, lasers, machining centres, plastic mould, injection moulding, etc.)
  • Information technology and data storage
  • iPads and tablets
  • Photocopiers, printers and multi-functional devices
  • Digital video and still cameras
  • GPS equipment
  • Security equipment (excludes monitoring services)
  • Audio-visual equipment
  • Office furniture
  • Energy assets (solar PV systems, energy efficient lighting, building management systems, battery storage, metering)

 

Additional assets include medical, dental and veterinary equipment (excluding fixtures and fit outs).

 

Call us  on 1300 471 767 for a chat today or email us at admin@financeprospects.com.au to find out more!

 

*Lending criteria apply

 

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