If you are a sole trader, company or business owner, a Chattel Mortgage may be the product for you.
What is a Chattel Mortgage?
A Chattel Mortgage allows you to purchase business goods, such as cars, trucks or other business equipment and pay for them over a set terms of between one to five years. You take ownership of the goods upon delivery, and the financier secures the loan by registering a charge over the goods. You can even choose to repay the contract in full before the term ends or pay a balloon payment to reduce monthly repayments.
What are the benefits?
A Chattel Mortgage is a great way to purchase the equipment your business needs, without having to pay upfront, freeing up important cash flow so you can build your business. Speak to your accountant to see if you can take advantage of tax benefits on equipment purchased to produce accessible income.
Speak to Loana today about getting a Chattel Mortgage for your business!
If you would like to know more information about how a Chattel Mortgage could benefit your business, speak to one of our experienced advisors today - Give us a call on (08) 8210 0000.