Truck Finance
The Key to Empowering Your Business
Truck finance is a specialised form of financing designed for commercial or business vehicles, crucial for sectors like transport, manufacturing, supply chain, logistics, and eCommerce. Businesses in these industries often rely on heavy-duty vehicles, such as trucks, for transporting goods or products. Given the high costs of these vehicles, not every business owner can afford to purchase or lease them outright. Truck finance offers a viable solution, enabling businesses to acquire these essential vehicles without upfront capital.
By opting for truck finance, enterprises can meet their business objectives and responsibilities, either by purchasing or leasing trucks. This type of financing is particularly advantageous as it allows the truck to be counted as a company asset.
Sanomi Finance: Your Partner in Truck Finance
- No Doc and Low Doc Options: We offer funding up to $250K with no or low documentation requirements, simplifying the process for businesses.
- Competitive Interest Rates: Benefit from some of the best interest rates in the market.
- Swift Approval Process: Expect fast approval, often within 24 hours, to keep your business moving without delay.
- Flexible Loan Terms: Choose loan terms ranging from 3 to 7 years, tailored to fit your business needs.
- 100% Financing: Borrow up to 100% of the truck’s value without the need for any down payment.
Equipment Finance
Streamlining Your Agricultural Equipment Needs
Sanomi provides flexible and straightforward financing options for both new and used agricultural equipment, including bobcats, loaders, and excavators. Our asset lease arrangement grants you the benefits and usage of farm equipment while the financier retains ownership. This setup offers several advantages, ensuring your equipment financing is as efficient and beneficial as possible.
Key Features of Our Equipment Finance:
- Flexible Contract Terms: Tailor your finance agreement to suit your business needs, with adaptable contract durations.
- Fixed Interest Rates and Monthly Rentals: Enjoy the certainty of fixed interest rates and consistent monthly lease payments, aiding in better financial planning.
- Off-Balance Sheet Financing: The leased equipment won’t appear as an asset or liability on your books, enhancing your balance sheet management.
- Potential Tax Advantages: Lease payments may be tax-deductible, offering potential savings (consult your accountant for eligibility).
- GST Efficiency: As the financier can claim back the GST contained in the equipment’s purchase price, you finance only the equipment’s cost excluding GST, leading to lower monthly payments* (*Please check with your accountant for eligibility).
Unsecured Business Loans
An unsecured business loan is designed to meet various financial needs within your business. Characterised by its short-term nature, typically not exceeding 12 months, this loan type often requires repayments on a daily, weekly, or monthly basis. The standout feature of an unsecured business loan is that it does not require collateral for approval. However, this lack of security usually leads to higher interest rates and fees compared to secured business loans.
Would an unsecured business loan work for you?
At Sanomi, we’re here to help you determine if an unsecured business loan aligns with your business needs. This loan type offers several benefits:
- Enhances Working Capital: Provides an immediate boost to your business’s working capital, enabling smoother operation.
- Improves Cash Flow: Assists in maintaining a healthy cash flow, crucial for day-to-day business activities.
- Investment Opportunities: Allows for investments in equipment or business activities, such as hiring new staff, without tapping into existing capital.
- No Asset Risk: Since no collateral is required, your assets remain secure and free from the risk of seizure.
Small Business Loans
Tailored Financing Solutions.
A small business loan is specifically designed to cater to the diverse needs of small businesses. These loans are provided by lenders for various business-related purposes. What sets small business loans apart is their relatively lenient criteria, allowing small enterprises to secure financing more easily compared to traditional loan requirements.
When considering a small business loan, getting expert advice can be invaluable. There are several strategies that can significantly improve the chances of your loan application being successful:
- Future Business Projections: Demonstrating well-thought-out future projections for your business can show lenders a clear path to repayment and growth.
- Organised Documentation: Ensuring all your paperwork is complete and in order helps to streamline the application process and avoid unnecessary delays.
- Loan Type Decision: Deciding in advance whether you prefer a fixed or variable rate loan can guide your search for the right financing option.
- Realistic Budgeting: It’s crucial to budget realistically to ensure your business can comfortably repay the loan, considering all your financial obligations.
Cash-flow Finance
Leveraging Future Earnings for Business Growth.
Cash flow financing is a unique form of financing where a loan is secured by a company’s expected cash flows. This type of financing is particularly useful for businesses that generate significant cash from sales but lack substantial assets to offer as collateral. By using anticipated future cash flows as security, cash flow financing provides an opportunity to access additional funds needed for business expansion.
This financing option is often favored by companies dealing with extended payment terms on their invoices. We offer a range of cash-flow funding options through our lenders, ready to be explored and utilized.
Features of Cash-flow Financing:
- Flexible Facility Terms: The terms of the financing can be adapted to suit your business needs.
- Based on a Percentage of Future Receivables: The financing amount is typically calculated as a percentage of your expected receivables.
- Drawdown Flexibility: Funds can be drawn down as needed against your receivables.
- Quick Approval and Provisioning: Experience a swift turnaround on loan approvals and fund provisioning.
Is cash flow finance right for you?
The suitability of cash flow finance largely depends on your company’s unique circumstances, particularly its current financial health and projected growth. It is vital to consider this type of finance cautiously to ensure it aligns with your needs and capabilities, especially given the variable nature of cash flows. As lenders often view cash-flow finance as higher risk, this can result in elevated interest rates and fees when compared to other financing types.
