SPEND LESS TIME BUDGETING AND MORE TIME WORKING WITH AN EQUIPMENT RESTRUCTURE LOAN
Reluctant to buy new equipment because of existing debt load? We get that. It’s not good business to overextend yourself. But sometimes it’s possible to improve cash flow by consolidating existing debt and combine it with a new purchase, and still reduce monthly payments.
Typically, our clients are looking at options to:
- Reduce repayments therefore freeing up cash flow for other business purposes
- Releasing equity in their assets to be used for an expansion of their business, an acquisition of a business or even to assist in a management buyout.
- Correctly structuring finances to their current situation
As we know every business and every finance requirement is unique.
Benefits of consolidating debt include:
- One monthly payment
- Fixed interest rate
- One lender
- Flexible terms
- Additional working capital
- Clearing ATO Debt
Debt consolidation is the process of replacing multiple loans with one single loan. This reduces the number of creditors you are paying by consolidating your debts into one payment through a single lender. Oftentimes companies are over leveraged with different sources of debt, and consolidation can help with debt management and potentially reduce monthly payments and improve cash flow. When consolidating debt with one lender, that lender may give the option to extend the term on a loan, thereby reducing the total monthly payment. Paying less each month can increase cash flow and allow more flexibility with seasonality or opportunities for business expansion.
If debt consolidation sounds like the right decision, it is important to work with a Commercial Finance Broker that understands the industry you are in and the equipment you own or want to purchase. Your point of contact at a bank, for example, may not understand the market value of your assets such as property and equipment. They may only take the book value into consideration, without considering the accumulated equity. Nor will they have the flexibility to work with you during times of business disruption.
Ironbark Finance can help because we understand debt consolidation using a variety of assets for security such as property, debtors, balance sheet and plant & equipment for financing purposes. We know what to look for when evaluating security positions and the financial circumstances of our customers. We’re used to helping companies obtain the equipment and financing that fit their needs to assist their businesses grow.
To discuss your specific equipment restructure finance needs further, please call us directly on 1300 677 449 or fill out your details below and we will be in touch shortly.
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FAQ’s
Do I need Financials?
Ironbark Finance Pty Ltd have on offer a large range of Low Doc Products from 20+ Lenders that require NO financials at all. Key Low Doc Requirements are:
- 2 Year ABN
- Clear Credit History
- At least One Director is a Property Owner or a 20% Cash Deposit will be required
How old can the Machinery be?
Ironbark Finance Pty Ltd has access to a large range of Lenders for ALL types of Machinery ages up to 20 years.
How long will finance take?
Depending on the lender and product, turnover times can vary from 2 hours to 48 hours once the loan application has been submitted.
How much can I borrow?
The max amount you can borrow will depend on Lender product limits per transaction and your financial servicing ability. Our team will carefully review your information and compare to Lender policies to ensure we find the right Lender that can lend you the amount that is required.
Will I get Approved?
Ironbark Finance Pty Ltd have a very high success rate of getting our clients loans approved.. All applications are carefully vetted by our finance specialists prior to submission. This ensures we get things right the first time and most importantly protect your Credit Score.
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Find out how we can find the best solution for your situation.
