Tag: business finance

Buying Articles

Affordable Finance for new IVECO T-Way Range

. 5 min read
Affordable Truck Finance | IVECO T-Way Range
The T-way replaces IVECO’s Trakker as a rugged, off-road vehicle for a wide range of applications. It has been especially built to tackle the most challenging operational conditions such as off-road applications in exploration, forestry, mining, tipper requirements, materials and water transport, agriculture and many others. The T-way has all the ‘hardcore’ off-road feature equipment as was on the Trakker but with a lot more. A selection of Euro 6 engines are included on the T-Way plus improved cabin comfort inclusions and upgraded safety. The cabin has styling a la the stylish design of the S-Way. To suit a wide selection of buyers and applications, the T-way range comes with various configurations and GVM/GCM. Overview: IVECO T-Way The configurations in the new T-Way range include 8x4, 6x6 and 4x4. The options for GVM/GCM are 20,000kg/44,000kg, 33,500kg/60,000kg and 41,000kg/60,000kg. There are 4 options for the wheelbase ranging from 3800mm to 5820mm. There are a lot of great features that buyers will... Read More Caret Right
buying tips

Secure equipment finance before next construction shows

. 5 min read
Elevate Your Business with Equipment Finance Australia
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
Industry News

Possibilities of refinancing to offset pressures from increased operating expenses

. 5 min read
Refinancing for Growth: Empowering Business Owners
With the latest CPI indicating more inflationary pressure, business owners may consider refinancing to offset the pressures from increased operating expenses. Most widely used to achieve lower interest rates on current loans, refinancing does have broader purposes and may be a realistic solution in the current economic conditions. It may form an integral component of an operation-wide finance restructure and/or part of a raft of measures undertaken to cut outgoings as prices continue to rise. The current labour situation in Australia may also give rise to the need to consider refinancing. The tightness in the market has meant that many businesses are operating well below capacity. Thus limiting income while costs and outgoings continue to rise. Refinancing may contribute by achieving reduced finance repayment amounts to ease the monthly outgoings commitments. Something which may be significant in affecting a positive change to the bottom line and easing cash flow pressures. The latest data on inflation from the Australian Bureau of... Read More Caret Right
Buying Articles

New Biz for 2023? Low Doc and No Doc Finance Available

. 5 min read
Australia's Entrepreneurial Spirit: Starting Your New Business
Business Finance Australia provides access to Low Doc and No Doc Finance for motor vehicles, trucks, equipment and business expenses to set up a new business. This is a very popular time of year – the start, for people to rethink the way they earn an income and put plans into action to make a change. That may be a change to self-employment in any number of fields. The opportunities for sole trader, self-employment and contract work are available across many industry sectors. These include as an owner-operator for an excavator, crane or other construction equipment, as an IT specialist or web designer, in the trades, as a delivery service with a van or truck and in the transport sector as an owner-driver. But these opportunities are often not able to be realised due to difficulties with sourcing affordable, workable finance to acquire the necessary equipment. It only takes a quick browse of the business loan application eligibility on some... Read More Caret Right
Buying Articles

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

. 5 min read
Smart Tax Moves for Business Owners
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
Industry News

Business Finance: tax benefit reminders, Director ID, interest rates update & details for flood victims

. 5 min read
Navigating Business Finance: Tax Benefits, Director IDs, and More
2022 has been full of challenges for business in general with inflationary pressures, tightness in the labour market, interest rates rising and for many, dealing with the impacts of devastating floods. While dealing with those many challenges it can be understandable that many other issues may be put on the back burner or overlooked. This general business finance article updates on deadlines for Director IDs and a key tax benefit, latest on interest rates and details for those impacted by recent floods. Director Identification Number Deadline Looms We recently posted a detailed article on Director Identification Numbers but with the deadline a week away, it’s worth another reminder as the penalties for those that do not comply can be sever. This ASIC regulation requires all directors of companies (there are some exclusions) to have an individual and unique identification number. Existing directors of companies must have their Director ID by the deadline of 30 November 2022. The process is a... Read More Caret Right
Buying Articles

Field Day Success Puts Spotlight on Farm Machinery Finance

. 5 min read
Funding Your Agricultural Dreams: Farm Machinery Finance Options
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
Industry News

Is now the time to take on new business finance? Latest Unemployment Data

. 5 min read
Building a Bright Future: New Business Finance in Australia
With a further drop in unemployment in July and more RBA rate rises ahead, operators may have questions around timing to take on new business finance. The now 48 year record low unemployment level as of July, signals the continuing tightness in the labour market which is a key point noted by the RBA in guiding its rate decisions. The tightness of the current labour market can have impacts for interest rates but also for the business prospects. If not able to fill all its job roles, a business may not be well-placed to forecast optimum production let alone growth. We provide an overview of the latest information from the Australian Bureau of Statistics in relation to wages growth and employment and possible fall-out in regard to interest rates and business finance. The wages Unemployment at 48 Year Low The ABS release of the unemployment data series for July 2022  may send up red flags for some businesses that have... Read More Caret Right
Buying Articles

Economic Outlook Provides Intel for Business Finance Planning

. 5 min read
Leveraging Economic Insights for Strategic 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
buying tips

Tradies Health Month a Time to Ease Pressures of Business Finance

. 5 min read
August each year for the past 10 years has been designate Tradies National Health Month by Australia’s leading association for physiotherapists – Australian Physiotherapy Association (APA).  The initiative was started to provide an opportunity for workers in many sectors, but particularly the trades, to reassess their wellbeing, both mental and physical. These are matters that often get put aside by many people. Business finance issues can be a source of mental health problems and Jade Finance urge operators to consider ways to ease the pressure in Tradies Health Month. Not only business owners in the trade or building, we’re making the call-out to all business owners. The focus on health during August represents a great opportunity to assess issues and concerns around business finances and seek solutions to improve the situation and avoid potential health worries. In addition to what could be expected under normal operating conditions, the pandemic has created a new set of challenges which continue to be... Read More Caret Right

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Our Lenders

Trusted by 60+ lenders Australia-wide

Westpac
Liberty
Automotive Financial Services
Macquarie
Finance One
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.

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