Equipment financing: bank or broker?

Some may say this is a time versus money equation but in reality it is not! If you can obtain the same interest rates (or better) on Equipment Financing through a broker then the answer is simple, use a broker!!! Time spent Your broker should handle the entire Equipment Financing process from start to finish with minimal input from you, which represents a significant amount of time saved compared to dealing with the banks. Convenience Your Equipment Finance Broker should always be available on mobile after hours (including weekends) and … [Read more…]

The Overdraft Alternative

In today’s business environment, access to cheap flexible cash is paramount. Money (Cash) is just another key component of business, similar to raw materials and labour. It should be accessed at the cheapest possible rate and with the greatest amount of limits available and with flexibility. Perhaps it is time for owners of small businesses to have a good look at the way they finance their day to day business activities. In the vast majority of cases, the following statements would be accurate for most privately owned businesses. Their present bank … [Read more…]

Why use a broker for your equipment finance?

This is a very valid question and often asked. It is interesting to note the statistics and the most telling statistic is that over 50% of small business (with a turnover up to $20 million) use Equipment Finance Brokers for a significant portion of their Equipment & Vehicle finance needs. Why would they do this? Having been in the industry for 30 years, I can tell you it’s a combination of a number of factors: Relationship Just as their clients are privately owned and operated businesses, so are the majority … [Read more…]

Accelerated Depreciation

Accelerated Depreciation, the hidden gold in the 2016 budget for companies with a turnover of up to $10million. (Provided they can get it through the Senate as Bill Shorten is threatening to block this component of the reform, so bring on the election!!) Although much publicity has surrounded the reclassification of small business which now extends to companies with a turnover of up to $10million and the ability of those businesses to claim 100% depreciation on assets purchased of less than $20,000, these are “small bikkies” compared to what is … [Read more…]

9 quick facts you need to know about equipment finance

After 25 years of financing equipment for capital intensive industries, we thought we would share a few facts which will assist business owners in getting this area right. 1) Interest rates can vary by as much as 1%, so it pays to shop around Unlike home loans, interest rates on equipment finance are very much open to the competition of a free market & as such can often be negotiated down by as much as 1% if sufficient competition is created between financiers so it pays to shop around. A saving … [Read more…]

Financing Tax Debt

With statistics saying that up to one third of small businesses under some form of ongoing Tax Debt with the ATO, the uncertainty of these arrangements and the issues they can potentially cause when companies apply for other finance with mainstream lenders, it is encouraging to see that a number of property financiers are now assisting companies in Tax Debt Finance. These property financiers are assisting with Tax Debt Loans through providing additional funds against residential and commercial properties at levels up to 75% of market value and at interest … [Read more…]

Equipment finance rates – what lies ahead for 2016

With all the noise around banks pushing up their margins on home loan rates in particular investment property rates despite the fact that the RBA cash rate has remained unchanged at 2%, Has there been any effect on equipment finance interest rates? The short answer is yes but with much less affect. Although the general market has increased their equipment finance rates by around .25% across the board, there are several reasons why this has not had any significant affect:- Equipment finance rates are “free market driven” with the ultimate … [Read more…]

Are you ready for AUSTimber 2016?

We are all set for AUSTimber 2016 and will have the Finlease 1968 ZB Fairlane taking pride of place in our marquee out in the forest. It’s just our way of saying that good old-fashioned service still exists. How is the finance landscape in the lead up to AUSTimber 2016? We have been busy and rapidly expanding the number of clients we now assist for finance in the full supply chain from forestry and haulage, through to the mills. The timing of our entry into the industry as an alternate … [Read more…]

How to buy your first boat

Guest post by Rod Smith, the Managing Director of CH Smith Marine and former President of the Boating Industry Association. Owning a boat was one of the best decisions of my life. It brought my family closer together and turned me into a happier person. I truly believe the person who said “the world is my oyster”, was a new boat owner. Let me aid you in buying your first boat as I outline 3 main tips for better boat buying including picking the right type of boat for you, choosing the … [Read more…]

Insurance Premium Finance – big savings to be had and easy to access

Insurance premium finance has been around for years and typically offered via the Insurance broker however usually at quite a premium. In today’s market there are an increasing number of banks and finance companies who will compete stridently for this business and offer very low rates of interest as well as an easy, seamless finance approval process. Although this style of finance is typically over short terms (10 – 12 months), the savings can be thousands of dollars each year. A number of banks now offer business owners very competitive … [Read more…]