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Prime Low
Doc
Car & Equipment Finance
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Rental or Operating Lease
is available to both company & individuals
providing the goods are to be used
predominantly for business use.
Leasing is a well known
method of improving cashflow management and
preserving your cash for your core business
or for projects offering better returns on
capital.
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Purpose
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New or Used (up to 3 years old)
Vehicle & Equipment finance
No
sale/leaseback or private sales
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Applicant Types |
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Business purpose only, trading 3 Years
or more - ABN registered 2 years or more
and MUST be registered for GST
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Approval Criteria |
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Clear CRA
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If 3 years
trading & a property owner, approval
up to $35K
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If 5+ years
trading, can approve up to $35K -
(property ownership not required)
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If 3 years
trading and 2 years ABN vehicle
purchase will be considered to
$100,000 if 30% cash deposit is
available (trade-ins can be used to
reduce the loan amount) or applicant
or Director has enough equity in
property to cover purchase price. A
leasing credit reference or
Last 2 quarters of lodged BAS
statements and 6 months of business
bank statements required.
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Finance Amount |
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Minimum: $10,000
Maximum: $35,000 on equipment and $100,000
on Motor Vehicles |
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Finance Types
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Operating Lease / Rental
for equipment
Motor Vehicles - All finance types
available |
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Equipment Types |
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NEW equipment only (USED
equipment: subject to approval)
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Cars, vans, Trucks &
Trailers
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office, IT, copiers,
PABX, telephones, PDAs,
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security systems
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100% software (from
pre-approved vendors)
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medical, dental
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gaming
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water filtration
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compressors,
generators
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commercial laundry
equipment
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forklifts, material
handling, earthmoving
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retail systems
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golf carts, ride on
mowers,
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industrial sweepers,
cleaning machines
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office furniture
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audio visual (inc
plasma screens)
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Terms |
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24-60 months
Up to 36 months: IT Hardware
Up to 36 months: Software
Up to 24 months: PDAs
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Residual Values |
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Operating Lease NIL
Motor Vehicles up to 50% (subject to ATO
guidelines)
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Documentation Required
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Two trade references,
ABN, Tax invoice, letter of contract, 3
months personal and business banking
statements, assets & liabilities
statement
For Property Owners - Rates notice,
current mortgage statement |
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Approval Time |
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Within 24 - 48 hours if all information
is submitted with application
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