Commercial Loans
Commercial finance comes in different shapes and sizes. You have plenty of options, but you must pick the one that suits you best. When you need to upgrade your fleet, here are your top choices and how you can benefit from them:
Low Documentation car finance is precisely what the name implies. Many small businesses do not have the required documents to get a loan just yet. To help you out, you can seek low doc car financing, which allows you to get a loan for a car purchase without matching the complete requirements. Someone else will guarantee the loan for you so that you can get approved quickly. You may be able to claim the GST, interest, and depreciation of the car purchase.
A rental or operating lease is a comprehensive finance agreement between you and the financier. The latter remains the owner of the rental, even if you have paid your dues. Repayments you have made will typically be tax-deductible.
This commercial finance product is essential for those who wish to hire vehicles from a lender. It is often much cheaper and useful for businesses that only require the car for a set period.
This commercial finance product is essential for those who wish to hire vehicles from a lender. It is often much cheaper and useful for businesses that only require the car for a set period.
In its simplest form, a novated lease is an arrangement alongside a salary package. The employer will pay for the car lease and its running costs using the employee’s salary.
You may know this type of commercial finance loan as an overdraft or debt facility. Using the line of credit, your business can access a pool of funds that you can withdraw. Some lenders offer revolving lines of credit while others can expire after a certain period. One benefit of an overdraft account is that you only have to pay for the interest of the amount you used.