loans & leasing

Fixed Rate Business Loan

Available to members borrowing for business purposes. Lock in a rate for an agreed time to protect yourself from any rate increases. Loans are offered on either principal and interest or interest-only basis with competitive rates and are generally secured against real estate.

• Fixed rate terms from 1 to 5 years
• Protection from rate increases - gives you peace of mind that repayments won't increase during the fixed period
• Split loan option
• Interest only option
• Flexible loan terms
• Fast loan approval and speedy document preparation - because we know you want to move quickly with your purchase
• Pre-approval available
• Additional and lump-sum repayments possible (limit of $10,000 during fixed rate period)
• Flexible repayments - weekly, fortnightly or monthly to suit your cash flow needs

Business Overdraft

A line of credit linked to your business account, giving you easy access to funds, up to an agreed amount, to cover your cash flow needs.

• You can overdraw your business account up to an agreed amount, 24 hours a day, by many means
• Flexible repayments - no structured repayments are required, however you must remain under the agreed limit
• Fast loan approval and speedy document preparation, so you can move quickly with your purchase
• Competitive interest rates
  

Leasing

Whether you're acquiring a single car or a fleet of trucks, arranging an asset finance facility takes time and expertise to ensure the deal is right for your particular situation.

Let Summerland Credit Union take the lead and leave you free to focus on managing your business.

Our unique long-standing relationship with Macquarie Leasing means we can provide you with superior service including favourable interest rates and fees.

Assets typically financed include new and used:

• Passenger cars for business and personal use
• Light and heavy commercial vehicles
• Earthmoving and construction equipment
• Manufacturing and industrial plant and machinery
• Printing presses and graphic technology
• Computers and office equipment (new only)*
• Medical and dental equipment
• Agricultural equipment and machinery

*Computers and office equipment are subject to high-depreciation and will therefore only be considered for financing to well-established and financially successful professionals (e.g. accountancy, legal and medical firms) and other strong businesses. As a general rule, retail fit-outs (shops and restaurants for example) will not be considered.

Macquarie Leasing can arrange pre-approved facilities as well as larger facility limits for multi-asset purchases over time. A pre-approval is valid for 90 days. Larger facilities are available on an ongoing basis with reviews undertaken annually or more frequently at the discretion of Macquarie Leasing.

Macquarie Leasing provides vehicle and equipment finance products to business clients. This includes not only the usual commercial market (i.e. any business with an ABN) but also car-owners that use their vehicles a minimum 51% for business purposes.

A potential novated lease client is any salaried employee with an employer willing to offer a salary-packaged motor vehicle.

Speak to Summerland Credit Union today obtain a quote for any preferred finance structure, including –

• Chattel Mortgage
• Commercial Hire Purchase
• Finance Lease
• Novated Lease

The application process is easy. Please call 1300 802 222 or visit any of our branches to benefit from our efficient and speedy service.

Note, tax treatment may vary according to circumstance. Please consult your accountant or tax agent for advice.