FAQ

We price our loans according to risk. We do look at finance requests that the major financiers may not entertain. We are competitive and we will work with you to get the best deal.

We offer asset finance for a wide range of new and used (dealer and private sales) vehicles and equipment regardless of age for business related purposes.

Some examples include (but not limited to): Vehicles, light commercial vans, forklifts, trailers, trucks, Ute’s, yellow goods, construction equipment, earthmoving equipment, cranes, helicopter, planes and boats.

At Commercial Equity Group we consider the viability of individual transactions. We need to know the story behind the issues, but our real focus is to look at your current situation and your future prospects.

We specialise in difficult, complex, poor credit and the harder to finance loans.

These situations may include:

• Discharged bankrupt
• ATO debt
• Low credit score
• Defaults on credit file
• Dishonours on bank statements – loan defaults

Once we receive the application with all the information required to assess the submission, our credit team will look to review the proposal and provide a decision usually within 24 – 48 hours.

We are completely transparent when it comes to fees. We don’t charge account fees.

A $600 documentation fee is payable on approval or can be financed upon request. This fee usually covers up to 2 assets held as security.  If more assets are required an appropriate fee will apply.

All other fees are disclosed in the loan agreement.

Low doc

Eligibility: minimum 2-year ABN & minimum 1 day GST registered

Maximum loan amount $150,0000

• Completed application form
• Asset and liability statement
• Client background – loan purpose
• Details of equipment/security – registration papers – invoice if available
• Bank statements 6 x months- trading/personal https://www.bankstatements.com.au/r/b/MCVF
• ATO portals – activity and income statement x 12 months
• Signed privacy consent
• ID – driver’s license – both sides

Full Doc

• Completed application form
• Asset and liability statement – commitment schedule
• Client background – loan purpose
• Details of equipment/security – Invoice if available
• ATO portals – activity and income statement x 12 months
• 2 years financial statements (accountant prepared and audited) + YTD management accounts
• Most return tax return
• Bank statements 6 x months- trading/personal https://www.bankstatements.com.au/r/b/MCVF
• Signed privacy consent
• ID – driver’s license (front & back)

1 day ABN

Brand new ABN? Here’s what you need to know before you apply for an equipment loan.

1 Day ABN finance is usually suitable for people who have been working PAYG, have some industry experience and are transitioning to a sole trader, partnership, or company ABN.

The start-ups that we assist must have some skin in the game.

Start-ups usually need to retain cash in the bank for working capital, and that is fine with us. We can often use unencumbered equipment or vehicles as collateral security in lieu of a deposit.

These are the types of documents and information you may be asked to produce to give yourself the best chance for fast approval:

• Client background, Industry experience, work sources
• Deposit or collateral security
• Most recent tax returns – to confirm previous earning capacity
• Bank statements (personal) x 6 months
• Business plan – if applicable
• Cashflow forecast with assumptions
• Work contracts and or work source letters