What next?
If you answer the questions, you’ll get a personalized quote showing a realistic repayment on your profile and the item you want to finance. If you are happy with the options, select the lender and continue with the application.
Will this affect my credit file?
No, I care about your credit file. There will be no enquiries on your file unless you want to go ahead with the approval.
What is the cost?
There is no cost if you change your mind or find a better offer elsewhere. I only get paid for loans that settle.
What is the timeframe?
The cheaper lenders tend to get flooded with applications, so getting the cheapest deal on the market isn’t normally the quickest. Loans can be settled in up to 24 hours or 4-5 days, subject to your requirements. Planning ahead can save time and money
Business Loan FAQ
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.
Business Loan Calculator
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.
