Buying commercial assets can be a challenge. Facilitating this process is of vital importance to secure the funding. You need someone with a wealth of experience in the industry, that understand your business. We can relay this to our financing partners and banking institutions. A variety of them are used to secure appropriate funding, with a competitive interest rate. From monthly instalment agreements to operating rentals and full maintenance lease, we can assist.
First of all, it is vitally important that you are already in business. Finance houses will look if you can already afford the monthly instalment, and not after the fact you have bought the vehicle. We have one of the best financial systems in the world, and we need to co-operate accordingly. The following documents will be requested at initial screening:
Business registration documents
Application form (download it here)
3 months bank statements
Annual financial statements (usually not older than 18 months)
More complicated transactions can be motivated, and additional info can be requested, but the above are the basic documents you will need to have ready.
Every listing will be handled differently. We understand disputes, and can motivate it to the banks. It is important to provide one of two documents when you know you have a judgment against your name or the business. A paid up letter, or a rescindment letter. Meaning you no longer own the entity / creditor.
After receiving the initial documents, I can guarantee a 48hour turn-around time. You will receive one of three answers:
Declined (no affordability is evident or bad payment history and account conduct)
Pending (the banks are willing to investigate the funding further, with additional documents, this will be communicated to you)
The standard funding procedure will require a 10% – 20% deposit on the value of the asset(s) you’re buying. To mitigate risk, giving a higher deposit would likely have a more positive outcome. This shows the bank that you are also willing to invest in to your business, and that you also have something to lose.