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Whether purchasing a car, truck or trailer for your business, plant & machinery, IT technology, Catering equipment, mining or any asset for business use. iCREDIT Equipment Finance can help you find, compare and choose a loan suitable to your budget and business needs.
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Business Finance Options Available
Secured loans offer the most competitive interest rates with loan terms ranging from 1 – 7 years. Secured loans are available for new and used assets. The asset is used as security for the loan which lowers the overall loan risk to the bank. The benefit is lower interest rates for you.
Unsecured loans offer flexibility with loan terms ranging from 1 – 7 years. Unsecured loans can be used to purchase older model vehicles, purchase stock, pay a tax bill, marketing or any worthwhile business use.
Commercial Finance can be used for any worthwhile business purpose. This includes purchasing assets such as cars, agricultural machinery, catering equipment, trucks, trailers, IT technology and more.
Commercial Finance is a term that covers loan types such as chattel mortgage and leasing. Commercial Finance generally uses the assed such as cars, equipment and machinery as security against the loan.
Yes, we have lenders on our panel that can assist with new business ventures. Your broker can provide information on available new business lenders.
Contact us on 1300350118
To apply for Commercial Finance lenders will require some details on the asset you’re looking to purchase as well as your business loan information. Generally the more information you can provide to assist your application, the more lenders & loan products will be available for you to choose from.
Additional Information Includes:
BAS (Business Activity Statements)
Letter of Contract
You usually do not require a deposit and you can generally borrow 100% + if purchasing an asset.
It is through advisable to use savings or a trade in to lower the loan amount. This reduces the total amount of interest you will pay over the term.
Balloon payments or residual payment is a lump sum that is payable at the end of the loan term. This reduces your overall monthly repayments throughout the term.
As a guide:
A loan amount of $50,000 with a 0% balloon payment
Approximate Repayments $990 per month
With a 20% balloon ($10,000)
Approximate repayments $850 per month for 59 months + $10000 due as a last payment
A Chattel Mortgage is a loan product commonly used by businesses to purchase assets. The borrower retains ownership of the goods and receives taxation benefits for the business use portion. Loan terms can be from 1 to 7 years and can include balloon payments if required.
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Why Choose Us?
Choosing business finance is not as daunting as it could be when you have iCREDIT in your corner. Whatever your requirements and whatever your financial situation, we’re on your side. We’re backed by national buying power, which means that we’re in the best position possible to negotiate better, more affordable finance rates for you. Going through us is simpler, more affordable and more rewarding than going to banks directly for financing.
Whether you’re buying a new or used car, want to update your office equipment, farm machinery, need an unsecured business loan for inventory or ATO debt or just need someone to give you a go with second chance business finance; Make the smart choice by talking to one of our dedicated finance consultants today.
We’ve helped thousands of Australians find their loan.
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iCREDIT Commercial Finance is available throughout Australia, Melbourne, Sydney, Adelaide, Hobart, Darwin and Perth, Gold Coast, Palm Beach, Burleigh Heads, Tweed Heads, Brisbane, Ipswich, Sunshine Coast, and Queensland Today!
*Finance subject to approval, including the application of applicable lending criteria. Terms and Conditions apply. Fees and Charges are payable. Credit assistance provided by iCREDIT Australian credit licence 499023. ^Comparison rate for Secured Loan is calculated on a loan amount of $30,000 secured over a term of 5 years based on monthly repayments. WARNING: This comparison rate applies only to the example or examples given. Different amounts and terms will result in different comparison rates. Costs such as redraw fees or early repayment fees, and cost savings such as fee waivers, are not included in the comparison rate but may influence the cost of the loan. **. Interest Rate: 5.49% Comparison Rate: 6.71%
* You should however take into consideration that an online commercia loan calculator is to be used as a Guide Only and may not include all fees and charges. Every effort has been made to ensure the accuracy of the calculator, however use and results are at your own risk. Banks and vehicle financiers will base their final decision on the vehicle age, the amount borrowed and the overall profile of the customer. When using an online loan calculator include the following as these are generally not shown in the monthly repayments. Lender Establishment Fees, Origination Fees, Personal Property Security Register Fees, any ongoing fees. To obtain more accurate repayments based on your profile, the age of the asset and loan amount please call 1300 350 118 for an obligation free quote.
We do not under any circumstances accept responsibility or liability for any losses that may arise from a decision made as a result of using the calculator.