As a business owner, time is of the essence. We know that you would be rather focusing on growing your business and improving customer satisfaction rather than spending hours sorting through paperwork to organise finance for your new truck, machinery or equipment. With the masses of banks and lenders in the market it can be tough to know the right one for you and the asset you are purchasing.
Low Doc Loans may be the saving grace if time is of the essence for you!
These types of loans work very similar to a regular finance loan; however, the main difference is the amount of paperwork you need to supply.
It can be as simple as:
- Signed Privacy Consent Form
- Copy of your Drivers Licence
- Be a Property Owner or willing to put a 20% Deposit if you’re not
- Have an ABN active for at least 12 months and be GST registered
Easy!
You will receive the same rates and loan types (i.e. Chattel Mortgage), however without relying on the additional paperwork, proof of income and a lot of additional questions that will need to be answered.
At Yakka Finance we can fund not only cars on a Low Doc Loan, but all different types of other equipment (trucks, trailers, machinery) if the particular asset is core to your business or is deemed to be over 50% Business use.
Is a Low Doc Loan right for you?
Low Doc Loans are available if you are a business owner established as a company or a sole trader and can work for you if you don’t have up to date financials or even the time to provide the necessary paperwork to apply for regular full documentation loan to be assessed by a bank credit analyst.
There are a huge variety of Low Doc loans in the market that can suit your business needs as each lender but it can be hard to navigate which bank is best for you without the knowledge of knowing what bank like what assets. Each banks Low Doc Loans all have different criteria. A Low Doc Loan that could be quick and easy with one bank would be different for another.
At Yakka Finance, we are experts at helping business navigate their way through finding the best Low Doc Loans that will suit your business needs with very competitive rates starting at 3.75%.
What to know more? Please feel free to call Scott Rumble on 0401 214 427 or email at scott@yakkafinance.com.au to find out more.
