What types of assets can I finance for my business?

Whether you’re looking to purchase a business vehicle, equipment or technology for your business or plant and machinery, Loans For U can find the right finance option to suit your business and cashflow requirements. For more information on what types of assets can be financed for business purposes, check out our commercial and business finance section.

What types of loans are available?

There are many types of business loans available including low doc loans, chattel mortgages, commercial hire purchase and asset leases. For more information about which type of business finance would best suit your business requirements, speak to your financial advisor and/or accountant.

Are business car loans tax deductible?

No matter whether you’re looking to purchase a single vehicle or an entire fleet, there are ways to maximise your tax savings using specific types of business vehicle finance. This will be greatly dependent however on the specific type of vehicle, the purchase price, your company structure, and the vehicle usage. For more information about the rules and regulations around claiming a tax deduction for motor vehicle expenses, visit the ATO website or speak to your financial advisor.

What is the instant asset write off and are all vehicles eligible?

Not all vehicles are eligible for the instant asset write-off. There are eligibility criteria that vehicles must meet to claim the immediate deduction. There are also eligibility requirements surrounding your aggregated turnover as well as the date that you purchased the vehicle.

The instant asset write-off can be used for multiple assets if the cost of each individual asset is less than the relevant threshold as well as new and second-hand assets.

To find out the current requirements to claim the instant asset write-off along with the eligibility criteria and current thresholds, visit the ATO website.

How do I get started?

If you’re ready to get started with your business finance, simply give our specialist Business Finance Consultants a call on 1800 538 287. They’ll be able to take you through the application and answer any questions you may have over the phone. Alternatively, if you’re short on time, simply apply online. We’ll give you a call at a time that suit you to discuss your specific business requirements.