When you chose to use Allfreight Finance Brokers to advise you on obtain equipment finance, you have the benefit of dealing with one broker who can take care of everything for you.
This significantly REDUCES the amount of work and time that you have to put into assessing lending options, shopping around the market, applying and following up with all the paperwork, emails, meetings and phone calls.
It also significantly INCREASES the chances of you obtaining the most favourable finance that you are looking for with your first application, and avoids the many mistakes that aren't always obvious if you are not up-to-date with the lenders procedures and assessment criteria.
Here is a typical list of the tasks and process that we provide and work through with every client. As you can see, the input and work that's required by you is minimal for our clients, compared to doing it yourself.
Plus, you can be rest assured that by using our professional broking services every little detail is being handled and dealt with in a timely manner by our full team on your behalf. You can leave it to us to do our job and we will only require your input at a few points when necessary.
We make it so much easier for you to get the best outcome with the minimal amount of time, whilst avoiding common mistakes that business owners can inadvertently make.
| TASKS | ALLFREIGHT DOES THIS | YOUR INPUT |
|---|---|---|
| Accurately assess the market value of the truck or equipment that the lender will use to establishing the security value. | ||
| Accurately assess the Loan-to-Value ratio that will be applicable for your circumstance and the equipment. | ||
| Consider the broader financial implications of your business and the tax implications to decide on the most appropriate type of lending. | ||
| Obtain all of the relevant details of the equipment to be purchased that are required to prepare the finance application. | ||
| Obtain all of the relevant financial details of your business or proposed business that will be required for the finance application. | ||
| Assess ALL of the available lenders and ALL of their finance packages from the Australian finance market and identify the best finance options for you. | ||
| Whenever necessary, we will have an initial discussion with the selected lender before proceeding with a formal application in order to predetermine any potential challenges. | ||
| Have necessary contact and transfer of paperwork with the seller where required in order to facilitate the application and assure them that the finance is being sought in a timely and professional manner. | ||
| Obtain and prepare the appropriate finance application documents for the selected lender. It is very important that the application be written and prepared accurately and professionally to highlight the merits of the borrower. | ||
| We submit the prepared application, including all ancillary documents to the selected lender on your behalf. | ||
| Directly follow up with the selected lender after the application has been submitted in order to track the progress of the application. | ||
| In the event that the finance application is declined, subsequent action is taken with the chosen lender or an alternative lender is sought. | ||
| Once the finance has been formally approved you are promptly advised. We then prepare the loan documents for you to sign. | ||
| Before any finance can be finalised there needs to be appropriate insurance in place to protect the interests of both the owner and the lender. Allfreight can receive the insurance cover documents from your insurance company. More conveniently, Allfreight also has an associated in-house Insurance Brokerage service available that can arrange all of the insurance requirements from our office. | ||
| Allfreight arranges for you to sign the loan documents, and address any final matters. | ||
| Once the loan documents have been signed we co-ordinate the settlement and transfer of funds from the lender to the seller. | ||
| After the settlement has taken place, Allfreight follows up with the client to ensure that everything has gone smoothly. | ||
| Allfreight continues to be the clients first point of contact with relation to the finance obtained. Our whole team remains committed to servicing our clients for the life of the finance contract and can further assist on future finance and re-finance requirements as the clients business changes over time. We continue to keep finance an easy matter for our clients. |
The exact process that is taken with every client will vary depending on their individual situation, circumstance and that of the truck or equipment to be financed. The table above has been prepared to highlight many of the common tasks that we as brokers undertake for our clients which are not always evident or obvious. However, when business owners try to do it all themselves and deal directly with lenders without the services of a competent broker, the differences often become very obvious.
Unfortunately, this is often too late to fix declined finance or change the wrong type of finance that was applied for, which can be extremely frustrating and costly to the growth of a business.
Save yourself the hard work, pain and lost time that comes with organising finance yourself to avoid mistakes and obtain the most favorable deal that’s available.
