Straight answers to common finance questions.
Plain-English answers to the questions we hear most. General information only. Your own situation is always worth a conversation.
What does a finance broker do?
A broker works out what you need, matches you with suitable options from their lender panel, prepares and lodges the application, and manages it through to settlement. A good broker also explains the trade-offs, so you understand why an option suits you.
Do you work with clients outside Adelaide?
Yes. Our office is in Vale Park, Adelaide, and we work with clients Australia wide. Consultations happen by phone or video, and documents are collected through secure electronic processes, so where you live rarely makes a difference. Property location, asset type and lender coverage can still affect which options are available.
Do you compare every lender in Australia?
No broker does. We assess options available through our approved lender panel and relevant specialist channels, and we explain why we are recommending a particular option.
How much can I borrow?
It depends on your income, expenses, existing debts, deposit or equity, and each lender's policy. Lenders can give quite different answers for the same person, so it is worth talking with a broker before you start looking at property or assets.
What is the difference between a chattel mortgage, finance lease and commercial hire purchase?
With a chattel mortgage, the business generally owns the asset from settlement and the lender takes security over it. With a finance lease, the financier owns the asset and leases it to you. With commercial hire purchase, ownership generally transfers after the final payment. Availability, accounting and tax treatment depend on the transaction and your circumstances, so confirm the tax side with your accountant.
Can I finance used equipment or a private-sale vehicle?
Often, yes. It depends on the asset's age, condition and value, the seller, and lender policy.
Do I need a deposit?
Not always. It depends on you, the asset or property, the loan structure and lender criteria. A deposit can widen your options and reduce what you repay overall.
What do I need for a low-doc or ABN-holder application?
Common items include identification, ABN and trading details, an asset quote, bank statements or business activity statements, and details of current debts. Requirements vary, and low-doc options still involve lender assessment and verification.
Can a new business or sole trader get equipment finance?
Some lenders consider newer businesses and sole traders, particularly where you have relevant industry experience. A deposit or extra supporting documents may be needed.
How long does approval usually take?
It depends on the lender, the loan type and how quickly documents come together. Simple asset finance can move quickly, while property and commercial loans usually take longer. We give you a realistic timeline once we understand your situation.
What is a balloon or residual payment?
It is a lump sum left owing at the end of the term. It lowers your regular repayments but means a larger amount is due at the end, and it can increase the total interest you pay.