COVID 19 UPDATE for Small Business - Financial Assistance, $250,000 Loan availability, Tax Incentives & other Cost Saving Initiatives
With so much happening and so many products offered as a result of COVID-19, we have provided below a number of useful links for business owners.
Loan repayment deferrals of up to 6 months (Equipment, Vehicle and Property)
If you are thinking about requesting a 6 month deferment of existing finance payments, the link below will assist. As it is our understanding that the commencement of the 6 month period is available at any time up until September 2020, we would encourage companies to not RUSH into these programs if not immediately required.
COVID-19: useful links for banks and finance companies
$250,000 unsecured loan
If you are interested in the government partially guaranteed $250,000 loan options, the link below will assist. These are a 3 year loan with the initial 6 months not requiring payments, however the debt to be fully paid out over the remaining 30 months.
COVID-19: $250,000 Small Business unsecured loan programs
$150k Instant Asset Write Off & 50% Instant Depreciation Deduction on assets > $150k
For those businesses who see the current environment as an opportunity to replace equipment or expand to take advantage of the $150,000 instant asset write-off or the 50% immediate depreciation incentives, the extra link below provides the important facts you need to know.
$150k Instant Asset Write Off & 50% Instant Depreciation Deduction on over $150k Assets – A QUICK FACT SHEET
2 quick and easy actions you can take to reduce other finance costs.
Most of us have property loans and there is a better than even chance that you are currently paying an interest rate which is higher than your bank is currently offering to new clients and you can fix that in 5 minutes, see the link below
1 really easy step to get the best out of your home loan lender
Finally, as General Insurance and Bulk Vehicle Registrations can be a significant cost and hard on cashflow for any business, the link below can provide both excellent costs savings as well as smooth out the cashflow bumps.
Spreading out those lumpy costs of annual insurances and bulk registrations without paying over the odds
Finlease - Getting the job done in the middle of COVID 19
In this current environment where so many of the banks have their personnel stretched to the limits and struggling to provide good timely service to their clients, Finlease is here as a steady hand with the expertise and team resource to provide the old fashioned service needed to get the job done.
If you have not used Finlease before, please feel free to see what our existing clients say about us with a score of 4.9 out of 5 stars on over 800 independent reviews www.productreview.com.au/listings/finlease