The applicants are starting a new business venture
	The equipment they wish to finance is several years old
	The applicants have limited financial information or minor past credit issues
	The applicants may be trying to raise working capital against existing equipment

Austfin will generally provide finance up to the purchase price of goods costing less than $20,000 where the applicant owns residential property in their own right and has been operating their existing business from the same address for at least 2 years. For larger transactions we will generally advance up to 70% of the auction value of the security held.

Where we only lend to a percentage of the auction value of security offered, borrowers are required to contribute a cash deposit towards the purchase price of the equipment, or provide us with a charge over other suitable unencumbered equipment.  We will also accept collateral security such as a 2nd mortgage over appropriate real estate.  Advances in excess of $100,000 usually require a charge over property.

Austfin will only consider applicants who do not own residential property where they have material other assets, good credit and an existing business that has been operating for at least 4 years with the last 2 years financial statements evidencing viability.

Austfin make those small purchases of capital items a breeze. While banks are keen on larger amounts of finance (say $20,000 or more), smaller requirements can sometimes prove problematic. We only require you to complete a simple application and fax it to us with some basic financial information.

Click here if you want to find out more about this product or to download an application.

Usually secured by a second mortgage over real estate with terms of 6 months or more.  Residential, commercial,  industrial, rural and rural lifestyle properties considered. Leasehold properties such as some alpine properties and Queensland islands are also acceptable.

Limited financial information needs to be provided by applicants, although primary producers, persons borrowing for non-business purposes, and some applicants requiring maximum loan to value ratios may need to provide detailed evidence of historical income.

Interest rates vary from time to time and are dependent on our perception of the credit risk involved, but loans secured by first mortgages would normally be in the range of 8.5% to 10.5% while 2nd mortgages would usually attract 18% pa.

We offer hassle free first mortgage loans secured by most types of readily realisable Victorian based property. We do have funds for lending in other parts of Australia, but if you are from another State please contact our office (1300 661 212) to discuss your requirement.

Loan amounts considered are $50,000 to $500,000 ($1.0M if funds permit) for terms of 6 months to 3 years.

Note: We do not provide finance for property development.

While the LVR we consider will depend on the quality of the borrower and security our maximum advances are:

	Metro residential property	75%
	Industrial	70%
	Improved Rural	70%
	Commercial (Office & retail)	75%
	Rural lifestyle	70%

Properties must not be geographically remote from a major population centre, or contain specialised improvements that would limit their market in the event of resale.  We do not lend against the value of Development Approvals, growing crops (vines, orchards, timber plantations etc), or for commercial property development.

First mortgage repayments are interest only, while 2nd mortgage loans can be either principal and interest or interest only.

First mortgage interest rates start from 8.5% pa. Short term (1 - 6 months) bridging finance is isually 2.0% per calendar month and second mortgages 18.5% pa.

Establishment fee of 1.25% of the loan amount for first mortgage loans (1.5% for second mortgages) (minimum $1,000) plus legal and valuation costs.  Early termination penalty is 2 months interest.

Download and complete an Equipment Finance Application Form or a Mortgage Loan Application Form. This can be returned to us by facsimile (03 9818 0744), email invest@austfingroup.com.au or post to Austfin Group, PO Box 3038, Auburn Vic 3123.  For most applications we do not need full financial disclosure, however, where available, applicants should include evidence of their income - ie most recent tax return, financial statements, group certificates or pay slips.  We will contact you for any additional supporting information required to assess your application.

We respond to most applications within 1 working day of receipt.