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Business Loans Explained
Detailed below is a brief overview of some of the types of funding available to business borrowers.
• Business Loans |
Business Loans: | back to top
Loans for business purposes. Usually secured by commercial property. May be able to secure against the assets of the business.
Commercial Hire Purchase: | back to top
Facility designed for the financing of equipment requiring capital expenditure. The client rents / hires the goods under a hire agreement. Ultimately the client will gain ownership at the end of the contract.
Chattel Mortgage: | back to top
Facility designed for the financing of equipment requiring capital expenditure. The client rents the goods under a Bill of Sale over the goods. Ultimately the client will gain ownership at the end of the contract.
Lease:| back to top
Rental is a form of financing that provides businesses with a total flexible finance option in acquiring equipment without utilising working capital. Rental helps overcome risk of equipment obsolescence. Rental gives to client all the benefits of the equipment without risks of ownership. At the end of the term the lender retains ownership, however the client may formally make an offer for the goods if they wish to purchase.
Rental: | back to top
The lender purchases the equipment from the supplier and rents the equipment to the client over an agreed term for a series of fixed rental payments. The renter/client does not obtain any right or option to own the equipment and has no residual value obligations at the end of the term. Unlike a loan or finance lease, rental does not appear in the client’s balance sheet as a loan.
Insurance Premium Funding: | back to top
IPF is a lending facility designed for business clients who wish to spread the cost of their annual insurance premiums through monthly instalments.
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