There are a number of ways to access low doc streamlined equipment finance products to better serve your clients.
Low doc funding doesn’t only benefit them by allowing them access to funding with minimal supporting financial information, it allows them to access funding quickly for purchases that they haven’t been fully prepared for.
There are a range of low doc products on the market today, including the following:
Professional matrix – this is primarily aimed at self employed professionals such as those in the medical or legal field. Depending on their circumstance they can access funding up to $150,000 to purchase certain assets (usually new or used assets no older than 4 years old).
Replacement matrix – this product is available if your client has a piece of business equipment that they would like to update or upgrade. Again, for the right client they can access up to $150,000 with minimal financial information.
Business overdraft – in addition to equipment funding low doc facilities there is also an unsecured line of credit facility. This is a bankless alternative which means that there is no security taken over any other business assets or customer’s properties. Having the availability of cash can give customers some peace of mind in today’s climate. This funding line can be used for any business purpose.
For each product there are certain lending profiles and guides for accessibility to these funding lines. If you have a client that would like to access these products, please speak to our Asset Finance Specialist Angus Askew today on 0437 615 712 so that he can find the right product to suit their circumstances.