Use our business loan calculator to determine your loan repayments, lender and interest rate.
Start crunching the numbers on your loan by entering the amount you want to borrow, the length of your loan, asset type, year, etc.. Our calculator can do the rest.
In most cases, we just need the application and a driving license. If there is a trust involved, we will need a copy as well.
Business loans have no protection under the NCCP rules, so the lenders can retain interest if you pay the loan early in comparison to a consumer loan.
Getting a consumer-style loan for a business can be possible, but it is much harder to get approved because you have to prove income.
If you have a property in your name and you have an ABN with GST for over 1 year, it is very unlikely we will need a deposit to maintain a low rate. There are many different lenders with many different policies. If you complete the application form, I will be happy to discuss all the options available to you.
Yes, residuals are available, but this function has yet to be added to the calculator. I do not recommend them to most individuals because you are left with no equity at the end, however, they can be useful for people who need to keep their outgoings down.
Typically, the repayment wil come down by about 20% if you add a 30% residual at the end.
*Most lenders won’t offer a residual on assets over 5 years old
*A residual is an interest only repayment that is added to the final payment of the loan.
No. This business quote tool is not accurate enough to guarantee the rate. However, in 9/10 cases, it will be correct. There are more variants on business loan applications that can not be applied to a quick calculator. Some cases will be less. Others will be more.
Your credit score is my priority. Unlike many brokers and dealerships, I pay for a soft touch credit search (that won’t alter your score), so I have all the information that the lender can see upfront, and this reduces the chances of an unsuccessful finance application.
From one day to one week, it is case by case. The low-rate lenders can take up to 2 days to just look at the application. I am happy to give realistic timeframes and explain all aspects in minutes over the phone. The average time for a “ball in my court” would be 2 hours max.
Yes, the seller would need to provide pictures of the asset along with their ID, Rego papers, and proof of bank details. If there is outstanding finance, this can normally be paid as part of the settlement.