One of the big four banks in Australia, and a leading equipment financer in Australia and New Zealand, Westpac Leasing has a variety of asset financing solutions for todays growing businesses. From the heavy machinery needs of mining and agribusiness to financing for health and medical equipment, Westpac has options that will suit borrowers ranging from small businesses to enterprise level organisations. If youre an existing Westpac customer, you may be able to get the spot approval, making getting your financing needs met even easier.
Fast approval times for current customers
Discount interest rates for energy efficient assets
Revolving limit option available
Conservative lending policy
Interest rates arent always competitive
Not as convenient for new customers
With Westpacs Business Finance Lease, you can use the latest vehicles or equipment for your business without ever having to constrict your cash flow with a big purchase. You can then deduct the amount you pay to rent the asset that correlates with business use. Westpac offers flexible repayment terms to help you structure your payments around your expected cash flow and budget.
With Westpacs Commercial Loan, youll pay a fixed interest rate on the loan. You source the vehicle or equipment and take ownership and responsibility for it, whilst Westpac finances your purchase, using the asset as security. Both your interest payments and depreciation are tax deductible. Choose a term ranging from one to five years. Westpac has a minimum loan amount of $15,000.
With a Commercial Hire Purchase, youll have fixed payments over a one to five-year term. You can negotiate your payment structure, choose monthly, quarterly, half-yearly or annually, or tailor the structure based on expected cash flow changes. Once the loan has been paid off, Westpac transfers ownership of the asset to you. You can generally deduct the amount you pay in interest on your taxes, as well as depreciation. The minimum loan amount is $15,000.
If you are purchasing or leasing qualifying energy-efficient equipment, you can use Westpacs Energy Efficient Finance loan product. Youll get a .70 p.a. discount on the standard interest rate for the type of financing you choose, whether you use a commercial loan, commercial hire purchase or finance lease for your commercial vehicle or equipment. Customers are also entitled to specialist advice from Verdias energy experts to help design a full energy efficient project.