It's human nature to want what we can't have. It can be called aspirational or referred to as goals. It can drive and motivate people to great achievements. But when it comes to business and sourcing finance, being told you can't have it can be a huge blow and present major difficulties and setbacks. When it comes to sourcing affordable, cost-effective finance to purchase business equipment, there are a number of reasons why some business owners can find finance hard to get.
You may have credit issues, you may not have been operating long enough to meet the bank’s lending criteria, you may not possess the documents and finance accounts that need to accompany a loan application, you might be a small sole trader or you may be new in business. So finance is hard to get by way of not meeting loan criteria.
Some may not have the understanding of the finance market to know where to go to source equipment finance. So they find finance hard. Or they may find finance hard to get because they’re busy running their operation and can’t spare the time to go through the loan sourcing and application process.
If you fit any of these scenarios, then Jade Equipment Finance has a solution that turns hard to get finance into a smooth, streamlined and easy process.
Getting Finance Quotes
If you’re finding it hard to get equipment finance estimates and quotes due to your busy schedule and lack of time then we have an immediate solution. You don’t have to spend hours on the phone to the bank or wait for those call-backs. When will they call????
In your own time, use our self-serve resources to plan your finance requirements and calculate rough estimates. Our equipment loan calculator allows you to enter the loan amount and term with the relevant interest rate for the finance product you want and you’ll automatically see an estimated repayment.
Our interest rate comparison allows you to see, all in the one place, the different interest rates for all our loans.
For a firm quote – give us a call or just email and we will respond very promptly. When it comes to knowing where to go for equipment finance, we solve that instantly. We do all that for you. We are accredited with multiple lenders so we source you the cheapest quote from across our lending networks.
Understanding Finance Products
Finance for equipment is available with a number of different loan types or products known as commercial finance facilities. It’s completely realistic that not everyone, in fact very few people other than finance professionals, would fully understand and know the details and differences between every finance product.
So if you’re finding it hard to get your head around which finance product you should select, we’ve provided explainers in plain-speak on each one:- Equipment Leasing, Rent-to-Own, Equipment Chattel Mortgage and Equipment Commercial Hire Purchase.
The differences relate to different accounting methods, GST treatment, the way a tax deduction can be claimed, balance sheet entry and the ownership of the equipment during the term of the loan. By reviewing the information we provide you should provide acquire a good general knowledge of each product. But we always advise our customers to consult with their financial advisor or accountant on selecting their finance product.
Getting Finance when it’s Hard to Get the Docs Needed
One of the major reasons that businesses can find equipment finance hard to get is because they simply don’t have the financial documents that the bank is demanding to be included in the loan application. The criteria for equipment finance with some banks and lenders can include having been in business for a minimum 12-24 months and having a range of financial information and accounts.
If you’re starting a new business or you’ve only been operating for a short time, you may not have traded long enough to have income tax returns, BAS statements, profit and loss statements and annual accounts. For you, Jade has a solution to make that hard to get finance a whole lot easier. The solution – our ABN-only, No Docs and Low doc Equipment Finance.
We achieve these loans for our customers as we have accreditation with non-bank lenders that are more flexible than the banks in regard to the amount of financial documentation required to achieve a workable loan offer. Head to our web pages to read all the details on these financial solutions.
Getting Past the Hard to Meet Loan Criteria
Banks do have strict guidelines when it comes to all types of loans and finance. They are highly regulated and that is the way they need to operate. Cold comfort when it’s your equipment finance application that has just been rejected. If you don’t meet the criteria because you have credit issues, then Jade might just be able to assist you. We have non-bank lenders that have a tendency to be more flexible and do offer Bad Credit Equipment Finance at workable rates and pricing.
You won’t have to deal with them yourself, your Jade consultant handles all that for you plus the paperwork and many other aspects of the loan.
Turning Hard to Get into Easy to Achieve
If you’re finding equipment finance is just too hard to get, change your approach by engaging Jade to handle it all for you.
Give us a call to discuss how we can assist you acquire those hard to get equipment finance deals. Jade Equipment Finance on 1300 000 003
DISCLAIMER: THE INFORMATION PRESENTED IN THIS ARTICLE IS NOT INTENDED AS THE SOLE BASIS FOR INDIVIDUALS TO MAKE FINANCIAL DECISIONS. THOSE THAT REQUIRE ADVICE OR GUIDANCE IN REGARD TO THEIR FINANCIAL DECISIONS SHOULD CONSULT WITH AN ACCOUNTANT OR FINANCIAL ADVISOR. THE INFORMATION AS DETAILED IS BASED ON DATA, SPECS AND REFERENCES AS SOURCED FROM A RANGE OF SOURCES AND LIABILITY IS NOT ACCEPTED FOR MISINTERPRETATIONS, MISREPRESENTATIONS OR ANY ERRORS IN THE CONTENT. THIS ARTICLE IS FOR GENERAL INFORMATIVE PURPOSES ONLY.
