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Application Forms
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– Company Applicants are starting a new business venture – Equipment at the end of it’s current lease with a residual or balloon payment -Limited financial information – Previous credit issues – Existing non-specialised equipment being used to raise working capital |
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Max LVR
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75% of equipment realisable auction value>
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Loan Amounts
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to $75,000 without charge over property |
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Terms:
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4 years with maximum 10% residual
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Fees:
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1% establishment fee built into rate
+ valuation costs of equipment being based on the realisable auction value today + valuation of property being used as collateral security (if greater than $75,000 in borrowings) + Legal’s (at cost) 1.1% brokerage Union Fidelity + 0.01% (minimum $770) settlement Fee paid from settlement proceeds 1.1% brokerage Introducer paid from settlement proceeds |
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