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A bank can only offer its own products and policies. As a broker, PFGA compares banks, credit unions and specialist lenders, so if one lender declines an asset or sets tough terms, another may consider it. We explain what each lender looks for and structure the finance around your cash flow before you apply.

It depends on the lender, the asset and your business profile. Some deals need a deposit and others may not, and a trade-in or equity in existing equipment can sometimes be used instead. Older or specialised assets often come with stricter lender rules. Speak with a PFGA broker to check what is likely for your situation.

Both spread the cost over fixed repayments, and the asset often acts as security. With a chattel mortgage, you generally own the asset from day one and the lender holds a mortgage over it. With hire purchase, the finance company generally owns the asset until the final payment is made. Tax treatment differs, so speak with your accountant.

A balloon, or residual, is a lump sum due at the end of the finance term. It lowers your repayments during the term, but you will need to pay it out, refinance it or settle it at the end. Not every business needs one. We can show you how repayments compare with and without a balloon

Often, yes. Many lenders finance used assets, but each has its own rules on the age of the asset, its age at the end of the term, its condition, and whether it is bought from a dealer or a private seller. Tell us about the asset and we will check which lenders are likely to consider it.

Possibly. Lenders look at your trading history, credit history, financial position and the asset being financed. A newer business or past credit issue can limit your options or change the terms, but specialist lenders often have different policies to banks. We will tell you what is likely before you apply. All finance is subject to lender approval.

Commonly you will need photo ID, details of the asset such as a quote or invoice, and your business details including your ABN. Depending on the lender and the amount, you may also need bank statements, financials or tax returns, and some lenders offer low doc options for eligible applicants. We will confirm exactly what is needed before you apply.

It varies with the lender, the loan size and how complete your application is. Straightforward applications can move quickly, while larger or more complex ones take longer. Having your documents ready helps. We manage the application through to settlement and keep you updated along the way.

Yes, we can review your existing vehicle and equipment finance and look at whether refinancing or restructuring could improve your cash flow, for example by adjusting the term or repayments. We also consider fees, any break costs and the terms of your current contract, so you can see the full picture first.