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Business Banking
Commercial Finance
In today's competitive environment, it is essential that businesses operate in the most efficient and cost effective way possible.
One of the most important factors in making certain that your business runs this way, is to ensure that your working capital is used for business development and other operational necessities.
To free up working capital, businesses should consider financing the acquisition of vehicles, plant and equipment via either a Commercial Hire Purchase or Finance Lease agreement.
Not only does this protect your working capital, but allows you to free up your cash flow. This will enable you to keep your business up to date with the latest in technology and productivity as the opportunity arises.
Significant tax advantages may also apply leaving your working capital free to assist your operation.
Financial Benefits of Commercial Finance
- Cost effective
- Free up your working capital
- Keep your business up to date
- Significant tax advantages
Understanding your Business
Greater Commercial Finance offers very competitive rates with flexible repayment options, tailor made to suit your own financial situation.
By taking the time to understand your business, we will provide you with a finance solution to suit your current and future requirements with the efficient, friendly and personalised service that you have come to expect from the Greater.
Finance Lease
Structured to suit your business.
A Finance Lease Agreement provides you with the use of the equipment for an agreed period, generally between three and five years.
You make a series of rental payments that we can structure to suit your business cash flow.
The residual value of the equipment is agreed upon prior to commencement of the lease and is an estimate of the value of the goods at the conclusion of the agreement for which you indemnify the financier.
At the conclusion of the lease period:
- You may choose to re-lease the equipment for a further period. This option is usually selected where the useful life of the assets extends beyond the original lease period.
- The financier may consider an offer to buy the equipment for the residual value plus GST.
- You can upgrade your old equipment through one of our finance options. Substantial tax deductions may be available, provided the equipment is being used to generate assessable income. Rentals are subject to Stamp Duty and GST.
Commercial Hire Purchase Finance Leasing
A Commercial Hire Purchase Agreement provides you with immediate use of the equipment in exchange for making regular payments over an agreed term.
During the term of the agreement, the Financier owns the vehicle or equipment with ownership automatically transferring to the client upon final payment. The client has the option to purchase the equipment at any time during the term of the agreement.
Payments can be structured to accommodate your financial circumstances.
You can make regular or irregular payments or choose to make a large final payment. If you wish, you may also pay a deposit before commencement of the agreement.
The interest component of the rentals, and the depreciation on the equipment may be tax-deductible, provided the equipment is used to generate assessable income.
Other Products and Services
The Greater can also assist you with any of these other additional services:
- Rental agreements
- Operating Lease
- Insurance Premium Funding
- Commercial and Industrial Finance
If you would like to apply for Commercial Finance, contact your local Branch Manager.