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Business Finance

Financing equipment and machinery business through chattel mortgages, leases and low doc financing options.

  • Equipment Finance
  • Chattel Finance
  • Lease
  • Low doc Loans
  • Agri finance

Equipment Finance

Equipment Finance is used to fund the purchase of certain categories of equipment and machinery.

Equipment Finance options allow the financing of up to 100% of the value of an item. Some common reasons for sourcing equipment finance include the purchase of computers, machinery, vehicles, and almost any equipment required for business operations.

A Commercial Hire Purchase (CHP) is a method of equipment finance. Under CHP arrangements, the financier purchases the asset on behalf of the customer. The customer has possession and use of the asset in return for making regular payments. Once the final payment has been made, including any residual/balloon payment, the ownership of the asset transfers to the customer. Customers also have the option of trading in the asset for a new item. The residual/balloon payment can also be refinanced into a new loan facility if the customer is not in a position to pay out the residual payment.

Contact Unlocked Finance to discuss the appropriate equipment finance option for your purchase.

Max loan term is 7 years.*
Finance up to 100% of the asset value. Deposits may be used.*
Interest on payments and depreciation may be tax deductible if used for income producing purposes.*
Input tax credits may be available if registered for GST.*

* Applications for credit are subject to the financier's normal credit assessment criteria. Fees or charges may apply. Full details of all product terms and conditions are available upon request. Any taxation information provided is only general in nature and does not constitute tax advice, nor is it necessarily applicable to your particular circumstances. Farm Machinery Finance strongly recommends that you consult with your accountant, financial advisor and lawyer to determine the most suitable lending option for your particular circumstances and whether any particular taxation laws, obligations or benefits may apply to you.

Chattel Mortgages

A Chattel Mortgage is another method of finance used to acquire vehicles, equipment and machinery. Under these arrangements, the financier takes ownership of the asset at the time of purchase in exchange for providing the funds.

The customer has possession and use of the asset in return for making regular payments. Once the final payment has been made, including any residual/balloon payment, the ownership of the asset transfers to the customer. The residual/balloon payment can also be refinanced into a new loan facility if the customer is not in a position to pay out the residual payment.

The Chattel Mortgage is similar to the Commercial Hire Purchase (CHP) but has differing taxation advantages and implications. Appropriate financial advice through your accountant or financial advisor is strongly recommended to determine the best option.

Max loan term is 7 years.* Finance up to 100% of the asset value. Deposits may be used.* Interest on payments and depreciation may be tax deductible if used for income producing purposes.* Input tax credits may be available under certain circumstances if registered for GST.*

* Applications for credit are subject to the financier's normal credit assessment criteria. Fees or charges may apply. Full details of all product terms and conditions are available upon request. Any taxation information provided is only general in nature and does not constitute tax advice, nor is it necessarily applicable to your particular circumstances. Farm Machinery Finance strongly recommends that you consult with your accountant, financial advisor and lawyer to determine the most suitable lending option for your particular circumstances and whether any particular taxation laws, obligations or benefits may apply to you.

Lease

Leases are fundamentally contractual agreements..

A Finance Lease can be a tax effective method of financing the full value of an asset. The lease is a legal contract between the lessor (bank) and lessee (customer).

Leases are used to finance many tangible assets such as vehicles, office equipment, software, trucks and farm machinery. The assets are owned by the financier. The customer has possession and use of the asset in return for making regular lease/rental payments. Once the final payment has been made, including any residual/balloon payment, the ownership of the asset transfers to the customer.

Is a finance lease the right choice for you? There are several factors to consider. GST is payable on both the monthly lease payment amount and the residual. Input tax credits may be available if you are registered for GST. You may be able to claim the full rental amount as a tax deduction if the amount financed is under the depreciation limit set by the ATO. If the amount financed is above the depreciation limit, then you may be able to claim the interest charges on the lease and on the depreciation.*

Appropriate financial advice through your accountant or financial advisor is strongly recommended to determine the best option.*

Max loan term is 7 years.*

Finance 100% of the asset value*

* Applications for credit are subject to the financier's normal credit assessment criteria. Fees or charges may apply. Full details of all product terms and conditions are available upon request. Any taxation information provided is only general in nature and does not constitute tax advice, nor is it necessarily applicable to your particular circumstances. Farm Machinery Finance strongly recommends that you consult with your accountant, financial advisor and lawyer to determine the most suitable lending option for your particular circumstances and whether any particular taxation laws, obligations or benefits may apply to you.

Low Doc Loans

Low Doc Loans are designed to be a fast and efficient lending option.

Depending on your business circumstances and/or the time of year you seek to purchase a new asset, you may not have the current financial statements and tax returns completed that are normally required for finance applications.

Low Doc Business Loans don't require the same financial statements and evidence as traditional loans. Low Doc loans, are generally priced higher than standard lending options, and may have extra application fees or set up costs.

Low Doc Business Loans can generally be fast tracked (as the name suggests) as there are fewer documents and whence a more streamlined assessment process. If time is of the essence, a low doc loan may be a suitable option for you to consider for your business financing needs.

Prior to making any decision on low doc financing, Unlocked Finance strongly recommends you consult with your accountant and/or financial advisor to understand the features and implications of such options. Unlocked Finance will work in with you and your accountant to provide the necessary product information for you to make an informed decision.

Agri-Finance

Agri-Finance provides lending options for everything farming.

Agri-Finance options are structured in a similar way to standard property finance transactions, Equipment Finance, and Chattel Mortgages depending on the category of asset being purchased and/or financed. (See other menu items for further details.)

Examples include farm machinery, equipment, tractors, infrastructure and land.

Once of the common Agri-Finance options in addition to the others previously outlined is a Commercial Loan. A Commercial Loan is a loan facility used to purchase assets such as equipment, machinery, vehicles and property.

Commercial loans differ from other financing options as the ownership of the asset remains with the customer. The financier will take a Bill of Sale or Mortgage over the asset to protect its interests. Residual/Balloon payments are also available in some circumstances.

Potential taxation advantages and obligations differ between commercial loans and other financing options such as leases. Considerations relating to GST and interest deductions need to be explored. Appropriate financial advice through your accountant or financial advisor is strongly recommended to determine whether a commercial loan is the most appropriate option for your circumstances.*

* Applications for credit are subject to the financier's normal credit assessment criteria. Fees or charges may apply. Full details of all product terms and conditions are available upon request. Any taxation information provided is only general in nature and does not constitute tax advice, nor is it necessarily applicable to your particular circumstances. Farm Machinery Finance strongly recommends that you consult with your accountant, financial advisor and lawyer to determine the most suitable lending option for your particular circumstances and whether any particular taxation laws, obligations or benefits may apply to you.

Address

  • TOOWOOMBA: 68 West Street Toowoomba Qld
  • WARWICK: 151A Palmerin St, Warwick, QLD 4370.
  • PO BOX 3047 Toowoomba

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