Business, Equipment & Home Finance for SMEs
Providing Lenders and Brokers work together, the Broker involvement should not necessarily result in refinancing to another institution. With the right mindset on the part of both parties, Finance Brokers can help Lenders retain & improve their existing client relationships. Situation We were recently approached by an experienced small business owner to assist with refinancing [...]
During the past week the Small Business Ombudsman, Kate Carnell, highlighted the issues facing small business when seeking loans. In an interview in the Financial Review, she said "as much as Banks will say we have plenty of money to lend and they have, the problem is the Banks have a huge risk aversion and [...]
As Melbourne gradually opens for business, are we starting to see the green shoots of recovery as business owners shift their focus from survival, to rebuild and growth. Whilst many businesses and individuals have been severely impacted by COVID-19, the green shoots of a recovery are finally starting to appear! Stronger Recovery says Commonwealth Bank! [...]
Business equipment finance has evolved considerably over the past decade. A few years ago, if you were seeking equipment finance, most businesses would simply go to the Bank. Whilst the majors still have an important role to play, there are now many options available for business owners. In my experience, many are not aware of [...]
The 500 Group was delighted to learn this week that, Greg Pierlot was selected as the Commercial Finance Broker of the Year in the 2020 Australian Mortgage Awards. This is fantastic recognition for someone is always looking for ways to improve the experience we provide to our clients. Greg was excited and humbled to win [...]
For many business owners, the equipment finance process can seem a bit overwhelming and frustrating. This has been compounded further by COVID-19. Lenders are cautious, seeking additional information, and timelines can be protracted. Equipment Finance Process – It’s Not All Bad News! However, the good news is, despite all the pessimism, there are still Lenders [...]
From time to time as an Asset Finance Broker, I am approached to assist with financing specialised equipment that challenges the norm and is a bit outside the box. Often when it comes to finance, if you are trying to do something different, Lenders will sometimes run for cover and hide under the "our policy" [...]
Many businesses are finding it challenging to obtain business finance during COVID-19. Shutdowns and uncertainty as to when, and how long a recovery will take, has resulted in Lenders taking a far more cautious approach. Accessing Business Finance During COVID-19 - Uncharted Waters! Like everyone else, Lenders are in uncharted waters. As a result, policies [...]
An issue business owners often face is whether to buy new or used equipment. On one hand used equipment can be less expensive, but it's not without risks. On the other, new equipment is generally more expensive. When weighing the options as to whether to buy new or used equipment, it is critical to look [...]
A question I am often asked by clients is, “what is the difference between and an Equipment Rental and a Chattel Mortgage?”. Whilst both are finance products, their implications are different from both an ownership and tax perspective. For some circumstances and types of equipment, a Chattel Mortgage may be the best option. In other [...]
