We finance any business asset!

By far the most common form of asset finance is a Chattel Mortgage.

This is because, first and foremost, you own the piece of equipment and are not subject to any restrictions on how to use it (as you would be with a hire purchase agreement).

The equipment/collateral is the only security required for the loan. With current market interest rates at record lows, we recommend against drawing equity from your personal property portfolio to purchase business assets, letting your equity continue to work for you and build wealth.

There are numerous tax advantages of Chattel mortgages with the Governments ATO increase on ‘Instant asset write off’ from $30,000 up to $150,000 (per asset). You will also receive favourable GST treatment. As you are making the purchase upfront, you can claim back any GST input credit in full at the time of purchase. This becomes especially valuable on larger purchases. Please consultant your accountant prior to any future purchases to discuss tax advantages.

Minimal documentation required
Chattel mortgages, leasing and rentals require minimal documentation. At Bloomfield Financial we take the hassle out of applying for finance with a fully digital application process, unlike document heavy traditional bank funding that can take weeks to be processed. With ‘low doc’ loans we typically will not require any financials and can deliver same day approvals.

We pride ourselves on making your life easier by working with your accountant when we do need financial documents and letting you continue to do what you do best – run your business!

Equity Raising/Sale buy back
If you are looking to raise capital for an upcoming project & require working capital, we can assist by putting your core business assets to work! This may be offering an unencumbered truck or production machinery, is a cheaper solution than unsecured lending, comes with longer loan terms and is suited for businesses with lumpy or seasonal cashflow. If you have recently purchased an asset with cash, we can return the funds post purchase VIA a sale buy back using that asset as security. This is particularly useful at auctions & urgent purchases.

Under a Chattel Mortgage the asset is yours from the outset
Unlike a hire purchase agreement OR Rental, with a chattel mortgage the asset is yours from the outset. There is typically no need for additional security, as the asset is the loan security for the duration of the loan term.

Speed to Funding
Whether you have found the perfect truck & trailer combo, vehicle or piece of machinery, at Bloomfield Financial we have industry leading technology in place to process your application rapidly. We understand in the current market, with issues to the supply chain coming out of Covid19 speed to funding is critical. We have access to instant approvals for qualifying businesses, and can also secure 90 day pre-approvals to keep you prepared.

Lowest Rates
With inflation on the rise and fluctuations to the cash rate impacting interest rates, speak with one of our finance brokers to see what rates you will qualify for today. We have got you covered for the latest rate updates & best finance packages available.

Documents Required
Documents required will be confirmed post consultation with your Bloomfield Financial Representative, our minimum document requirements are:

• Director/s ID
• Privacy consents