Financing a new asset for your business has never been so simple!
Finance 101 understands how businesses work. We will make it quick and easy to secure your next asset loan for your business so you can focus on running it! We work with over 20 different lenders with access to specialised products, allowing our team to tailor the perfect loan for you. Working with Finance 101 will ensure that you have access to market leading interest rates and are kept up to date every step of the way. It’s that simple!
A chattel mortgage is a secured loan for sole traders, partnerships and companies where the asset being financed will be used predominantly for business purposes. The business owns the asset from day one and the lender takes security over the asset. Chattel mortgages can be used to purchase any asset; cars, leisure vehicles and equipment (as long as there is a reasonable justification for business use). Chatttel mortgages can offer many benefits to your business, ranging from helping with cash flow to tax write offs. Finance 101 have access to a variety of different low doc or no doc loans as well for your convenience.
Some of the key features of chattel mortgages are:
Low or no deposit options available
Low fixed rates
Balloon (residual) options available
GST can be claimed back at your first BAS
No-doc or low-doc loans
Loan terms from 1-7 years
Available for dealer, auction or private sales
Tax deductible interest and ability to claim depreciation
Other Business Loans
The most common business loans outside of chattel mortgages are commercial hire purchases, novated or finance leases and cash flow funding. Finance 101 have access to a variety of loan products that cover all of these different loan types. Different loan types may have some additional tax benefits including having the asset off your balance sheet or having the payment show as a rental type payment on your financials. All of the loans we offer have fixed rates and repayments over the term of the loan. If you need any further information about the different commercial loan products available, give us a call and one of our team will be able to talk you through the differences.
Some of the key benefits of business loans are: