FAQ

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What are the benefits of commercial asset finance?

Commercial asset finance offers several benefits such as: preserved cash flow, flexible payment options, tax efficiency and risk mitigation to your business.

Which commercial lenders do you work with?

We are accredited with all the major banks and equipment lenders, there are over 40 options to provide you with flexibility and to ensure you’re getting the most competitive deal.

How long does finance approval take?

Depending on your specific circumstance’s approval can take in between 24-48 hours of application submission.

What is a balloon / residual payment?

A balloon payment is a one-off lump sum that you agree to pay the lender at the end of the loan term. In exchange for this it reduces the value of your repayments throughout the course of the loan term.

Can I pay off my loan early?

Yes, depending on your loan type. A member of our team will have a discussion with you regarding your needs and provide you with a tailored solution.

Do I need to put down a deposit?

No, a deposit is not always required. At Lion Financial Group we will provide a number of different options to suit your specific needs.

Am I eligible for a loan if I’m renting?

Yes, you do not need to be a homeowner to be approved for a commercial loan, tenants are accepted.

How many years will the term of my loan be?

Depending on your type of loan, loan term arrangements can vary from 1 year to 6 years.

Do you fund private sales?

Yes certainly! Purchasing an asset from a private seller (ie. on carsales or trucksales) is accepted.

What’s the difference between a personal loan and commercial loan?

Commercial loans and personal loans serve different purposes and are tailored to meet the specific needs of either a business or an individual respectively. Commercial loans cater to specific business needs such as retainment of cashflow and tax benefits.

Can I get a commercial loan if I don’t have an ABN?

Yes, dependent on criteria but you could be eligible for a commercial loan if you do not have a registered ABN.

Am I eligible for a loan if my business is a start up?

Absolutely, it is dependent on your individual circumstances. However, we have assisted many start-up businesses in securing loans and being able to purchase their required assets.