buying tips

Ranger, HiLux or D-MAX? Get best ute finance on best-sellers

Competitive rates and workable terms on ute finance are individually sourced by Business.Finance experts to provide the best financing on all popular models. With no IAWO available this financial year, and with many businesses facing cash flow pressures from rising operating costs, sourcing the best ute finance when new vehicles are needed, has become even more important. We work with individual operators to source and structure the most cost-effective loans for all makes and models. Not surprisingly, the two iconic cab chassis models – Ford Ranger and Toyota HiLux, remain at the top of the monthly car sales figures, as released by the Federal Chamber of Automotive Industries. These reports can provide indications of what is popular with buyers and inspiration to possibly consider other models, such as the Isuzu D-MAX which was sixth best-selling vehicle for the month. The car sales data may also provide indications of the strength of the motor vehicle market and how quick buyers may... Read More Caret Right

Capture EOFY Deals, Upgrade Assets, Boost Your Operation with Tailored Business Loans

Business.Finance offers a complete portfolio of low rate business loans, to allow operators to optimise EOFY deals, and invest to grow their operation. Mid-year is an Ideal time to review the position of the operation, assess unrealised potential, consider EOFY equipment and vehicle deals, and plan the finance required to implement improvements. Consider how cost-effective financing may enable vehicles, plant and machinery to be upgraded for greater efficiency and productivity gains. How a flexible line of credit may ease cash flow pressures. How fast access to financing with the best rates might allow you to bring forward asset investment plans and take advantage of end-of-financial year sales. Expand production capacity with additional machines, develop new product lines with new tech with affordable funding.. Our experts work on an individual basis with clients to understand their specific needs and tailor finance solutions to address those objectives. Consider the range of financial solutions available and discuss your plans to boost your operation... Read More Caret Right

Get new lines into production with low rate Manufacturing Plant Finance

With low rate manufacturing plant finance Business.Finance supports commercial operators cost-effectively launch new lines into the their production facility. The need to maintain a competitive edge, build brand loyalty, appeal to changing consumer tastes, stay up to date with local and global trends can require the regular development of new lines and products into the range. In the food production and processing and fast-moving consumer goods (FMCG) sectors this is particularly evident. But across many industry sectors, the necessity to upgrade and modify production processes can arise. It may be a new product or a new and improved way to produce a product to deliver greater efficiencies to the operation and greater appeal to consumers. For some commercial operations, the need for new facilities and equipment may be not for production and processing, but for packaging. With the changes in regard to plastics, many producers are having to change to recyclable packaging. Changes which may entail new equipment installations. The... Read More Caret Right

Securing workable bad credit commercial loans

Workable bad credit commercial loans may be achievable for operators that engage specialist brokers Business.Finance to source the most affordable options. Operations of all types across all industry sectors can face financial challenges under all types of economic conditions. The past few years have created a difficult scenario for some, with government support through the pandemic followed by high inflation, consecutive RBA, rising costs and supply chain issues presenting major challenges for enterprises to keep up with their commitments. When an enterprises falls behind in payments and their rating falls to poor, the challenges can intensify with major difficulties in assessing funding to support the operation to recover. Engaging expert brokers to sourcing funding may offer enterprises in this situation the support required. Bad Credit Scenarios Commercial operators can see their rating fall to poor for a range of reasons. The main one being late or non-payments on loan commitments, to suppliers and on regulatory payments such as to the... Read More Caret Right

Cost-effective Luxury Vehicle Finance for Cars of the Year

Business Finance Australia assists businesses to acquire high-end vehicles as judged the cars of the year, with cost-effective luxury vehicle finance. While the popularity of all types of SUVs continues to grow, the demand for the traditional style and elegance of a luxury sedan remains strong. Especially with many business owners and astute private buyers. Buyers that appreciate the attention to detail, exquisite engineering and the personal sense of achievement and satisfaction of owning and driving a luxury vehicle. But with many businesses and individuals dealing with the challenges presented by the current inflationary pressures, the finance for that new luxury vehicle needs to be cost-effective and affordable. We cover off on how we can deliver on that requirement after we advise on the latest award winners in Drive’s Car of the Year luxury segment. Car of the Year Medium Luxury Category The expert team at Drive has been conducting the annual awards and announcing the winners in over 20... Read More Caret Right

Upgrade on back of good numbers for agri and aquaculture – get approved for cheaper machinery finance

Producers looking to upgrade as a result of the good results and outlook from ABARES can source cheaper machinery finance through Business Finance Australia. The good numbers were announced by ABARES – the Australian Bureau of Agricultural and Resource Economics and Sciences at a conference in Canberra on 7 March and include record level forecasts for 2022/23 in some areas. The reports and snapshots show continued strong growth in agriculture and although income for broadacre farms is projected to decrease this financial year, it is still well beyond the 10 year average. For fisheries and aquaculture the forecast for 2022/23 is also strong with an 8% increase expected. One of the reasons for the good growth in some areas is given as operators investing in productivity. Machinery and equipment manufacturers focus heavily on including features in new models which will generate improved productivity, reduced costs and increase profitability. Review this summary of the ABARES announcements and our finance update and... Read More Caret Right

Considering new commercial loans? Review latest inflation and economic figures for guidance

Reviewing inflation and economic activity data may provide guidance as to the potential business outlook to assist in making decisions on commercial loans. Deciding when is the best time to proceed with major acquisitions with finance – trucks, equipment, machinery, can be guided by an understanding of the outlook for the specific industry sector or the wider economy. What’s happening with inflation in the current economic climate is of particular significance. The RBA is continuing with raising the cash rate to bring inflation down to its target of 2-3%. Changes in inflation may provide indications of what the next RBA decision may be. The timing of securing commercial loans may mean the difference in a higher or lower interest rate. A difference which may be significant in the effect of cash flow over the term of the finance. While it may sound like quite an involved and complex process to study statistics on economic activity, it doesn’t have to be to... Read More Caret Right

Secure equipment finance before next construction shows

Operators can get equipment finance approved with Business Finance pre-event in preparation to purchase at upcoming construction machinery expos and auctions. Two major events are coming up in April and May which offer ideal opportunities to see the latest machinery and technology in for earthmoving, infrastructure, construction and civil construction sectors. Opportunities to inspect many machines in the one place, save time and most importantly to place orders to expedite delivery. Opportunities which can be optimised when the finance has already been secured. These upcoming  events – National Diesel, Dirt and Turf Expo and the Heavy Equipment and Machinery Show, also include live auctions of used equipment by Pickles Auctions. In order to bid, operators will want be confident that they have been approved for finance. We assist operators to have that confidence, save time and secure cheaper machinery and equipment finance ahead of making their final decisions and purchases. It is a smart way to go and can deliver... Read More Caret Right

Sales of trucks continue to set records. Get your purchase underway with a quote for cheaper heavy vehicle finance

Business Finance Australia supports businesses to boost their operation with investment in new trucks with heavy vehicle finance at cheaper interest rates. Based on the recent truck sales figures as released by the Truck Industry Council, many operators are taking advantage of tax benefits and improving business conditions to upgrade their vehicles. 2022 ended with record-breaking truck sales results and many may have expected somewhat of a lull to follow such a busy selling period. But clearly, owners and operators had different ideas and were out in force in January to take delivery of new vehicles. The timing is of course spot on. As we and many others in the finance sector have been alluding to, further interest rate hikes are highly likely from the RBA  in the early part of this year. The release of the annual inflation figures last month by the Australian Bureau of Statistics revealed that inflationary pressures were still present in the Australian economy. Pressures... Read More Caret Right

Prospects for interest rates with latest inflation increase

Prospects for more interest rates rises were possibly strengthened with the latest November CPI data from the ABS revealing continuing inflationary pressures. The CPI data for the year to November was published by the Australian Bureau of Statistics (ABS) last week and shows the October drop in inflation was short-lived. In November inflation rose again by 0.4% to bring the current rate back to the September figure of 7.3%. These newest figures are in line with the outlook from the Reserve Bank of Australia (RBA) for inflation to edge even higher. The Board’s outlook was upped from the previous 7.75% to a peak in 2022 of 8%. The newest data covers November so the December figures are awaited to see what the annual rate is and if it is a peak. The December Quarter CPI data along with the monthly figures for December are due to be published by the ABS on 25th January. The timing is proving a busy... 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.