CHANGES TO LOW DOC POLICY
Recent changes in the Equipment Finance space, means that we now can offer low doc finance for Transport and Earthmoving Machinery up from $300K up to $500K.
Policy applies to applicants that can show the following;
- current home owner
- have a current A rated commercial credit for at least 12 months or no older than 6 months old since completion
- ABN must have been in place for minimum of 3 years in relevant industry
- BAS statement and ATO portal to confirm tax and gst is paid and up-to-date
- Equipment being purchased to be no older than 3 years old at time of purchase
- Equipment to be purchased from a licensed equipment dealer
This new policy ensures a hassle free application and settlement process for clients that are looking to purchase newer items of Heavy Equipment, with minimal information needed to facilitate the transaction. As a result, turnaround times for those that qualify are very quick and clients can secure very competitive rates. Many of our existing clients are surprised that we can offer such competitive low doc equipment finance rates on Heavy Machinery up to $500K. They are happy with the fact they can expand their fleet with ease and continue to work closely with us on other deals in the pipeline.
AUTHORS COMMENTS:
The change in this policy relates only to equipment no older than 3 years old at time of purchase, however our low doc policy is still in place for equipment older than 3 years old.
As low doc policy for older items of equipment is on a case by case basis, it is advised that you contact one of our Consultants on 1300 788 740 to discuss any funding scenario, to ensure no clients miss out on purchasing Capital Equipment for their business.
