More Products Information

We never stop working for you

Forward Funding and its team will delve further to see if there is any way we can achieve a positive result for our client.

Products and requirements for borrowing

We have outline everything you need here, but if you have any questions please don’t hesitate to call us.

Equipment Finance

We have been arranging Equipment Finance for businesses for over 25 years. Regardless of the size or demographic of the business, we maximise our client’s ability to acquire what they need.

We have access to most finance companies in Australia, for both new equipment or older equipment finance, we can help you.

Type of Finance Available

• Chattel
• Mortgage
• Rental
• Business Loan
• Sale and Leaseback
• Cash Loans

What is the Difference between an Unsecured Business and an Equipment Loan?

You may need an unsecured business loan to bridge a short fall, buy stock, pay expenses or consolidate debt.

An equipment loan is more about equipment finance, leases, rentals and chattel mortgages for cars and heavy equipment.

Low-Doc

You may not have Financial statements. We can waiver this requirement when you supply a verified privacy statement with your submission. We can help you with this.

Forward Funding can do multiple Low-Doc Applications for the one business through various funders simultaneously. Just ask our sales team.

Your business may be able to apply for up to $75,000 without financials being provided for cars, trucks, and wheel-based equipment. Speak to David, our specialist.

Your business may be able to apply for up to $150,000 without financials.

Full-Doc – Full Credit Assessment

This facility is for clients who are purchasing larger pieces of equipment and can demonstrate, with their financial statements, they can service the purchase.

For your approval, you will need to supply Financials and Management figures provided, along with Tax reports, Commitment Schedules, and a written profile on the business.

The size of the application is only restricted on your ability to secure and service the loan. Applications up to $10 Million will be considered, on their merits.

Interest Rates

Our rates have always been competitive with all our products. Interest rates vary according to the size of the loan, the type of equipment and your financial situation.

Motor Vehicles and major equipment are currently being funded at our base rate of 4.25% (this rate is subject to change). All other equipment may require different rates.

How it works

Low Doc Applications can be approved within 24 hours

If you supply:

Application Page – signed by the business directors/owners

Personal Asset and Liability Statement –signed by the business directors/

ID – Certified copy of Driver/s License and Medicare /s

Quote for equipment – showing the value and equipment description

Credit Criteria Check:

Tier 1 – Pre-Approval automatic with final checks to confirm

2 Years in Business (ABN and GST Registered

Property Owner

If Renting, you need to be 5 Years in Business (ABN and GST Registered)

If Renting, a deposit may be required depending on the strength of the application

Clear Credit History – Equifax Score of over 650

May require 6 months Bank Statements subject to application details

Tier 2 – Client does not meet automatic approval conditions

Sometimes a business will not meet automatic approval conditions so alternative funding options can be sourced. The following may apply:

Less than 2 Years in Business

Severity of any Negative Credit History

Poor payments with previous lenders

Non-Preferred Equipment, or

Any other negative information on business or industry

Full Doc Applications – Usually 48-72 Hours, requiring more time to consider documentation

If you supply:

Application Page – completed and signed by directors/owners of the business

Asset and Liability Statement – Personal – completed and signed by directors/owners of business

Commitment Schedule – this shows the current finance facilities the borrowing business is paying

Integrated Tax Report – this shows the PAYG and GST tax portal status

Latest 2 Years Financials for the application business

Management figures (MYOB, Xero) for application business

Story about the business, the owners and what the new equipment will do for the business

ID – Driver License and Medicare Card of directors/owners of business

Quote for equipment – showing value and equipment description

Unsecured Cash Loans

The banks are only interested in lending to AAA+ borrowers. They take your assets, so there is little risk to them. Applications seem to take forever, and there is little negotiation in the process.

Forward Funding helps businesses like yours to acquire cash flow and unsecured loans for the following needs:

Bridging receivables gaps

Purchasing inventory

Building a new website

Hiring more staff

Renovating or expanding premises

Purchasing equipment

Paying out business partners

Debt consolidation

Tax payments, almost any worthwhile business requirement

Who can apply for a loan?

Any business that has operated for a minimum of 3 months, with a turnover of at least $10,000 per month.

How Much Can I apply for?

A business can apply for up to 100% to 150% of their monthly turnover. If you generate $100,000 in income, visible in your bank account, you can apply from $100,000 to $150,000.

What are your terms?

Unsecured loans can be taken over 6, 12, 18, 24 and 36 months. Designed for businesses that want to pay down a loan over a set term and payment schedule. They are not designed to be redrawn, but you can apply for further funding after 3-6 months. These loans are used for debt consolidation.

Do you have Line of Credit or Overdraft facilities?

Yes. These facilities are likened to unsecured overdrafts. You receive a set limit, but you can use as much or little as you like, up to that limit. You only pay interest on what you use, and you can redraw funds as you pay back the loan. Mainly used for purchasing stock, you can pay the loan down during the month and re-draw to purchase stock for the following month.

How do I apply?

Click on the Apply Now link below and fill in the application forms.

How Quickly do I get my money?

Once your application is received, it will be assessed within 24 hours. Funding can be available within 48 hours of the successful application. (All information must be sent electronically and documents signed via DataSign.