A new vehicle, excavator, truck or piece of machinery can help your business take on more work. The finance process should keep pace with the opportunity.
Some equipment finance applications may qualify for a fast-track pathway, with approval and settlement possible in as little as four hours for eligible transactions up to $500,000. Timing depends on the borrower, asset, documents and credit assessment; it is not guaranteed.
Could your business qualify? One published fast-track pathway considers businesses that:
• Have operated under the same ABN for at least two years
• Are registered for GST
• Have annual income of at least $75,000
• Have an acceptable credit history and no outstanding statutory payments
Transaction limits also depend on whether you are an existing customer. For new customers, residential property ownership is an additional requirement. Incorporated borrowers require director guarantees. Asset type and further lending conditions apply.
At Advanced Finance Group, we help business owners assess the purchase, compare suitable equipment finance options and prepare an application that gives the lender the information it needs.
Planning to buy or replace business equipment? Message me with the asset, purchase price and your timeframe, or enquire at advancedfinancegroup.com. Let’s work out a funding structure that fits your business and cash flow.
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