Broc Finance

  Equipment finance is a convenient financing solution for businesses that need to buy new equipment. These solutions are also available for upgrading or replacing their existing assets. Firms can borrow the entire amount for procuring new equipment or upgrading an old one. Lenders provide different equipment financing solutions to help businesses optimise their operations. Let's break down the types of equipment finance so you can choose the right one for your business!   Chattel Mortgage A chattel mortgage is an equipment financing option that allows borrowers to secure money for outright ownership of the assets. The business owners can repay the loan amount over a period of   time. They need not submit their existing assets as collateral for this loan. The new equipment they procure acts as the lender’s security. If the borrower defaults, the lender can seize the new equipment to recoup their losses. This financing solution is perfect for the following businesses: ...

  Business loans play an instrumental role in navigating business expenses and investments for the future. If you are a small business owner, chances are you have borrowed funds or considered taking a loan. However, many business owners do not know they can claim tax deductions on expenses associated with their business loans. Credit options like Business loans, Assets & equipment finance can help you fund legitimate business activities. When you incur costs on such a source of finance, you can claim deductions on the same. Let's break down what the tax rules say about expense claims for business loans and what you should do!   Tax Governance For Your Business: Guidelines From The Australian Taxation Office (ATO) The ATO has laid down essential guidelines for small businesses and how they manage their debts. The following points highlight some of the key things to keep in mind: ●       Loan Contract : You should have a legally-binding contr...

  A business is nothing without the tools of the trade, and the equipment you need to maintain operational continuity. If you are a printer, you need a few high-end printing machines. Businesses that require delivery of goods require trucks, and construction companies need heavy-duty equipment and vehicles like earthmovers, forklifts, etc. While these might be essential business assets, acquiring them is not easy, especially for an SME or a new business. That’s where  asset finance  comes to your rescue.   Understanding Asset Finance What is an asset? To understand asset finance, you first need to define an asset. Equipment or item which depreciates over time, such as a vehicle, equipment, plant and machinery, etc., can be an asset. These hold value for the business. Owning an asset allows you to peg it as collateral for future loan applications.  Asset finance helps enterprises secure the necessary funding to buy tools of the trade, minus the massive do...

  As a professional landscaping architect Jennifer Wang worked with multiple firms in Australia. But there always comes a time when a professional feels the need to create something of their own. A couple of years back, the idea of starting her landscaping business crossed Jennifer’s mind.    But she wanted to take one step at a time. She started by quitting her job and working as a freelancer to build a network. That went on for a year, and then she felt ready to establish her landscaping business, in which she did invest the little savings she had. However, going forward, that was not enough. Soon her finances started falling apart. That’s when she reached out to Broc Finance for  low doc business loans .    Why Low Doc Business Loans? Jennifer’s business was new, with a handful of clients and her financial documentation was not in the best shape. Her trading history was just 12 months old, and she had no security to apply for secured business l...