Buying Articles

Address the threat of data breaches with affordable IT equipment finance

Businesses concerned about the threat of data breaches can access affordable IT equipment finance to upgrade and strengthen security and computer-based systems. The risks posed by the threat of cybercrime, data breaches and hackers is very real as has been recently highlighted by several high profile incidents. Businesses that are subject to these attacks can face serious outcomes and their customers devastating consequences. The Australian Cyber Security Centre provides information and resources that may assist many people to take steps to prevent becoming a victim to these events. While the perpetrators of these crimes are clearly highly sophisticated in their methods, businesses may take own measures to do what they can to strengthen their systems with the latest equipment. This can be a necessary but costly process for many operators and instances, but an investment which may be facilitated with our affordable finance options. Businesses utilise computer-based systems for a wide range of processes and procedures within the operation. So... Read More Caret Right

Update on Commercial Loans: news on deadlines, alerts & support

Important reminder for business owners on tax measure and Director ID deadlines, support for flood and storm victims and commercial loans interest rates updates. While there are many issues for business operators to contend with at the moment – the tight jobs situation, rising prices, continued supply chain disruptions and floods and storms, there are also deadlines for important business matters to be noted and adhered to, some with a sense of urgency. Urgent Action Required - Director ID If you are a director of a company and you haven’t yet acquired your Director ID number, then take note. The deadline to have this unique number as per the ASIC regulation is 30 November 2022. The ruling was announced a few years ago but it appears that many directors have been unaware of the requirement. The requirement is that anyone who is a company director must get their own individual number as a form of verifying identity with federal government... Read More Caret Right

Celebrate Volvo Trucks 50th with Cheap Truck Finance on a New Model

As Volvo Trucks marks 50 years in Australia, cheap truck finance is available through Business Finance Australia on new models including the all-electric range. Starting its truck-building operations back in 1972 in Australia, Volvo Trucks has produced more than 70,000 vehicles badged with the proud Volvo and Mack brands since then. Most recently Volvo has posted impressive sales figures with a nearly 38% sales uptick in the September truck sales data. The result placed the brand in second position in the heavy duty sector. With so many operators already selecting a Volvo as their workhorse of choice, it could be timely to take a closer look at the models currently available and the truck finance options available to make that purchase. 50 Year Celebrations The five decade milestone was commemorated by the company at an event which handed several trucks to significant customers.  Representatives from the company’s local and international business operations were on hand to make the presentation. Per... Read More Caret Right

Are your commercial loans up to economic challenges?

With construction activity contracting and a global recession probable, assess the effectiveness of commercial loans and seek better solutions at cheaper rates. The Australian economy was the standout on the global stage with its remarkable bounce back and recovery following the peak of the pandemic. But it didn’t take long for inflation to start rising and rising and rising and the RBA to step in and hike interest rates and the outlook to deteriorate, especially globally. The Governor of the RBA, Philip Lowe has been commentating for several months on the uncertainty surrounding the global economy. This can be seen in daily finance news headlines with what is happening in the UK and the USA and as a result of the ongoing war on Ukraine. Domestically, Treasurer Chalmers says the chances of a recession on a global basis is now probable, but he does remain optimistic for Australia. Supply chains continue to disrupt many industries along with ongoing labour shortages.... Read More Caret Right

Field Day Success Puts Spotlight on Farm Machinery Finance

Farmers seeking cheaper farm machinery finance for equipment exhibited at recent field days are welcome to seek quotes from Business Finance Australia. The return of these great industry events after a 2 year break due to COVID, has reportedly seen a huge interest in machinery and equipment sales. The Henty Machinery Field Day (HMFD) held in September reported massive attendances and outstanding results for exhibitors. Case in particular is reported as recording good sales over the three days of the event. While many operators use these events to place orders for new machinery, others choose to weigh up the features and benefits of different models and arrange finance after the event. Then proceed to make the purchase. For potential buyers in the process of making those post-field day buying decisions, sourcing the cheapest interest rate finance could be key to realising the optimum benefits in profitability, output and productivity from the new machines. Showcase: Award-winning Machinery Buyers may be considering... Read More Caret Right

Cab chassis ute or light duty truck? Pros, Cons and Vehicle Finance Considerations

Business Finance provides cost effective, cheaper interest rate vehicle finance for both work vehicles such as utes and cab chassis models as well as trucks. So we can handle requests and comparison quotes for businesses that are considering making the move from the ute as the main vehicle to a light duty truck as the business workhorse. While many operators will be welded onto the idea of a classic ute, others may be open to considering whether another option may deliver cost-savings, productivity gains and other benefits to the business. With costs in general on the way up, any wins in improved productivity can be welcome. Any differences in the vehicle finance will also be a top-of-mind consideration. The RBA has hiked rates over several months and most operators will be well aware of the significance of interest rates to the overall cost of finance and the monthly loan payments. So any move to a small truck from a cab... Read More Caret Right

Short and Long Term Commercial Loans Solutions

Business owners may have identified the need for finance to support their operation but may not be fully across the range of commercial loans solutions available to them. Identifying the need is a first step towards achieving a workable outcome and achieving objectives. The next stage is possibly more technical in identifying which particular commercial loan will best work towards achieving the objective. That decision can be crucial in effectiveness as well as in the costs. The decision around which loan type is particularly highlighted in regard to short, medium, long term or an ongoing solution. Selecting the appropriate finance product can result in not only in a better outcome, but also possibly less interest payable and hence a reduced impost on business expenses. For example, opting for a long tem finance solution may lock the business into interest charges and repayments over an extended period, where possibly a shorter term option may be better suited. An option which may... Read More Caret Right

Refinancing for Small Business Operators as Rates Rise

With lending interest rates increasing with RBA rate hikes refinancing for small business can be achieved with workable terms through Business Finance Aust. There can be a perception that small businesses are left worse off than larger enterprises when it comes to finance. That due to their size they will automatically be offered say a higher interest rate or tougher finance conditions. That may be seen to apply to both new finance and when seeking refinance. But this perception is not always the reality. Sure, if the small business is just starting up, then yes, it can be expected that they may be seen as a higher risk by lenders and as such attract a higher rate and/or tougher conditions for their loans. In these situations, we offer Low Doc and No Doc business finance. But if the small business has been operating for a reasonable time period, has a strong finance application and a good credit rating, they can... Read More Caret Right

Economic Outlook Provides Intel for Business Finance Planning

Planning business acquisitions with finance can be assisted by utilising information through sources such as the RBA and ABS and using professional services such as Business Finance Australia to secure cost-effective loans. The need for assets such as equipment, plant and machinery can arise at any time in the business cycle. Sometimes the need is urgent and immediate while in other cases, the business may schedule longer-term strategies over several years. When it comes to making decisions around moving on the investment and how to best structure finance to work through the upcoming economic conditions, additional intel can be invaluable. The ABS is a good source of data on a whole range of economic activities. In regard to finance, knowing possibly when interest rates may rise or fall, can be important to planning acquisitions with the most cost-effective loans. To assist businesses in this regard, information and outlooks provided by the Reserve Bank of Australia are worth reviewing. The RBA... Read More Caret Right

Bad Credit Finance Options as Rates Rise

Businesses requiring bad credit finance in the current rising rate climate can seek assistance through specialist business finance lenders to source loans. The increasing rate climate and soaring inflation is placing cost pressures on many businesses. But for those in bad credit situations the prospects can be even more dire and concerning. It is widely accepted that interest rates offered on bad credit business finance would be higher than those for businesses with good credit ratings. Inflation is the key driver of the RBA’s rate decisions over recent months and with inflation rising by another 1.8% in the June quarter to 6.1%, more rises are certain. While finance rates were coming off a low base having enjoyed the record low of 0.1% cash rate since November 2020, for bad credit finance, the rate increases are on top of a higher base. A cost which the business must absorb into operating costs or pass on to customers with higher prices. Options which... Read More Caret Right

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Our Lenders

Trusted by 60+ lenders Australia-wide

Westpac
Liberty
Automotive Financial Services
Macquarie
Finance One
Commonwealth Bank
Pepper Money
Morris
National Australia Bank
RACV
Get Capital
Prospa
Grow
Selfco Leasing
Scottish Pacific

FAQs
Business Finance FAQs

Yes, subject to the specific guidelines of individual brokers. Many brokers will offer services to all types and sizes of commercial set-ups while some may specialise in working for only some types of operations. Some brokers may also specialise in certain industry sectors or with specific financial products.

Commercial loans all offer tax deductible elements. These vary with the different products including Chattel Mortgage, Leasing, Rent to Own and Commercial Hire Purchase. Interest payments are all tax deductible. With Leasing and Rent to Own the repayments are tax deductible. With Chattel Mortgage a tax benefit is realised through depreciation.

The interest rates vary with the different funding products. Rates will change across the market with changes in the cash rate by the Reserve Bank. Rates will differ depending on the individual application and credit rating. Rates can vary for equipment in different industries. Credit providers will advertise their best rate for good credit rating applicants.

Yes. Having a current ABN is an essential requirement to be eligible for commercial funding products. Additional documentation on the financials of the operation and other details will be requested as part of the application process. If not all documents are available, ABN holders may seek No Doc or Low Doc options.

The same products apply across all industries and types of operations. But the funding offers can vary across different industry sectors for some credit products. This may occur with equipment and machinery in particular. Interest rates on equipment funding may be different from one industry to another. This may be due to risk assessment of the sector or the individual guidelines of a particular lender. Vehicle funding interest rates would be less subject to industry variations.

The type of credit product best suited to a commercial enterprise will depend on:- accounting method used; balance sheet approach; approach to tax; and financial objectives. The most popular options are Vehicle Leasing and Chattel Mortgage. Operators are advised to discuss choice of product for suitability with their accountant.

Cash flow support may be sought through an Overdraft Facility or a Secured or Unsecured Funding Option. All may be sought to support an operation with ongoing expenses to support cash flow.

New start-ups with an ABN are eligible to apply for all types of commercial loans. As most will not have all the documents for the application, they may seek No Doc and Low Doc options through specialist providers and brokers. Funding can be sought for vehicles, trucks, equipment and other purposes.

To be eligible for commercial loan, applicants must hold an ABN and identification are essential requirements. GST registration is not essential. A selection of documentation, docs, is requested. This may include tax returns, BAS returns, trading figures, bank statements, balance sheets and annual accounts.

Refinancing may be considered for many types of commercial funding arrangements. These may include asset acquisition funding, overdrafts as well as general secured and unsecured arrangements. Refinancing may be sought for a range of purposes including to achieve a lower interest rate, restructure repayment schedule or as part of a business-wide review of financials.

In general terms, any equipment which is for use in a commercial operation may be eligible for commercial funding. The ATO sets out eligibility for tax deductible asset acquisitions. The type of equipment will vary depending on the industry. It can include heavy machinery and equipment right through to general equipment such as computers, IT and photocopiers. Lenders may have their own guidelines as to what equipment they will fund.

Commercial financing is available through major and second tier banks and a wide range of non-bank lenders. Brokers offer services to assist operators to source funding to suit their requirements.

Rates are offered following an assessment of the application. The rate will be based on the credit rating of the applicant, the amount being applied for, aspects of the goods or purpose of the funding and other aspects. Rates offered vary across the lending market and are subject to the individual guidelines of the credit provider. Changes to monetary policy by the Reserve Bank can impact the interest rates market.

Features and structure of commercial loans should be assessed in relation to the accounting methods and objectives of the company. Consulting with an accountant can assist with this process. The best option is the one that suits the individual objectives and goals.

No. ABN holders and sole traders that are not incorporated are still eligible for commercial loans. Some lenders will have guidelines around application approvals. Small enterprises may seek a credit provider that accepts applications from their type of operation or seek assistance from a broker.