Equipment Rates

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Equipment Rates Equipment Finance

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Equipment Rates

Calculate Repayments Online

Get a quote

Get our latest interest rates sent to you instantly

Quick Rate Quote

Equipment Rates Equipment Loans

Calculate Repayments Online

Apply now

In 5 easy steps you will get the financial deal to suit you

Express Application

Business Equipment Lending - Cash Flow Loans:

So you’re looking to expand your company and Cash Flow is tight? Or for whatever reason CanDo are here to assist. From 10 - 750K with little or no proof of income required. Then consider your Business Lending options. We can help you understand all the need to know basics, and what you’re actually applying for. Most people don’t realise that you’re able to finance these types of assets through multiple lenders. There are two types of loans your business can apply for; these are Full Doc Business Loans (2 years financials) and Low Doc (No financials). That the basic difference between the two types of loans – Full Doc & Low Doc. IE. Full income verification required and Low Doc = no income verification required!

Low Doc Equipment Finance:

So you haven’t been in business for two years, but own your own property? Then financing computers/printers isn’t out of your reach with a LOW DOC loans. Most lenders will require you to be clear credit, and asset backed (property owner). It works like this; the company applies for the loan with the director(s) listed on the application. The stronger the application from the director(s) the better chance the company has to achieve a low doc loan.

Full Doc Business Loans:

The main difference between the two is that Full Doc Business Equipment lending requires 2 years company financials. NOTE: The financials must show the company turning over enough of a profit to service the loan and all other expenses the business may have. Full doc is predominately based on the company, although directors do need to be listed in the application.

All lenders will be subject to the standard business equipment lending criteria with a minimum amount financed of $5,000.00. With the knowledge and numerous lenders on board CanDo Loans can find the deal that best suits you.

Summary of what you need to be able to provide:

  • 2 Years Financials (FULL DOC) or asset backed director (LOW DOC - Property Owner)
  • Minimum of $5,000.00 financed
  • Clear credit (personal & company)
  • Serviceability to repay the loan
  • 100 Points of I.D

With a better understanding of the types of loans it’s time to discuss repayments. These types of loans can be taken over a 1-7year period, keeping this in mind you should be able to find numerous online loan calculators that allow you to get a rough idea on repayments. Most of these will be suitable, as long as you can adjust the term/amount financed/interest rate to the desired number(s). To obtain a more accurate repayment you’ll need to process an application with either a lender, or broker with the right connections. They’ll be able to obtain a pre-approval, with this should also come the repayments, term and interest rate at which it was lodged. Keep in mind before applying these pre-approvals should be “NO OBLIGATION” meaning if you didn’t want to proceed with that particular quote you don’t have too. Some finance companies however ensure their clients sign a document allowing them to charge their client regardless if they proceed or not.

 

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Summary of what you need to be able to provide:

  • 2 Years Financials (FULL DOC) or asset backed director (LOW DOC - Property Owner)
  • Minimum of $5,000.00 financed
  • Clear credit (personal & company)
  • Serviceability to repay the loan
  • 100 Points of I.D

Bad Credit History Car Loans

by Loans and Finance | September 23, 2015 | Finance Explained
If you have bad credit history, getting a loan...
Business Lending