We can help you find secured lending across a wide range of collateral.
Secured loans have identifiable items securing them, for example, property, vehicles or equipment that has a serial number. Take out a secured loan to purchase items or use currently owned items to secure a loan for a better interest rate than an unsecured loan.
Plant and Equipment Finance
We can provide loans against existing assets, or for the purchase of new plant and equipment for your business. Any equipment that is uniquely identifiable will be considered. Amount loaned and rates will vary. The item being used as security may belong to the business or be personally owned by one of the directors and/or shareholders.
When using a vehicle or equipment as security, your lender will want to make sure that there is no borrowing against the item already, and they will require the insurance against that item to reflect the lender as an interested party. In general the value of the item being used as security will be the same or more than the amount borrowed against it.
BORROWING AGAINST PROPERTY
If you want to use your property to secure a loan, the total borrowing against the property (ie your home loan and your business loan) usually won’t go over 80% of the value of your property. If you don’t have a recent valuation, the lender will go off the current CV of the property. It’s no problem if the property is owned by a trust.
USING OTHERS’ PROPERTY OR EQUIPMENT AS SECURITY
If a secured loan is your only option but you don’t own any property or assets, and a friend or family member agrees to allow you to use their property or assets as security, then the registered owner of the secured item will become a party to your loan.