Newsletter Articles

The Next Big Thing in Finance

Funding the purchase of equipment for your business can often be one of those pain-staking tasks that business owners dread. As competition in the Finance industry intensifies, customers are the winners with new product innovations.

Recent product innovations now make it possible for business owners to finance up to 100% of the cost of equipment without providing financial statements and tax returns.

Taking the lead from the residential home loan market where there is an increasingly high demand for competitive Finance packages without financial statements, 6-Point Finance is continually amazed at the rate that our industry is evolving and developing innovative lending solutions to assist the business owners.

In the past businesses would need to be able to provide at least two (2) full years worth of Financial Information to a financier to obtain finance approval for the purchase of new equipment. This causes problems for people new to business or if business financials are not available. For even the highly profitable business, the task of providing exhaustive lists of information to the banks to finance some equipment is tedious and takes the business owners focus away from doing what they do best. Not anymore.

This specialized product eliminates the requirement for the client to provide financial statements and other onerous supporting documentation, which means easier applications for finance, faster approvals and less inconvenience. This is also great news for Start-Up businesses who often struggle to get business finance approved.

Security for the transaction is taken over the asset/s being financed, so no property security needs to be provided. The product is a traditional business hire purchase / lease with the normal taxation benefits. The critical difference is that the assessment of the finance application is so much less tedious.

Repayments are generally higher then traditional finance products but often only a few extra dollars per week. Business owners are often happy to pay this for the convenience of just having less fuss.

To find out more about this innovative new product or to see if you qualify for this type of lending, contact your 6-Point Finance Lending Specialist today.