BankSA Goods Loan
Equipment financeSecured
A goods loan is the most popular type of business vehicle and equipment finance. With a goods loan, you source the vehicle and your business owns the vehicle from the beginning of the loan term without tying up valuable working capital. The loan is generally secured against the vehicle and your business can usually claim the interest on payments and depreciation if the vehicle is used to produce income.
- Establishment fee
- $500
- Monthly fee
- Not published
- Borrow
- From $15,000
Interest rate a year, from
Not published
Loan details
Rates
- Interest rate (a year)
- On application
- Rate type
- Not published
- Security
- Secured
- Type of finance
- Equipment finance
Limits and fees
- Loan amount
- From $15,000
- Loan term
- From 1 year
- Establishment fee
- $500
- Monthly fee
- Not published
How it compares
Against the other secured business loans we compare. Typical means the middle half of them.
Setup fee
$500
A typical setup fee is $549.
Pros and cons
Pros
Nothing stands out.
Cons
- Secured against an asset. That usually keeps the rate down, but the lender can take the asset if you can't repay.
- An early repayment fee. Paying the loan off early or refinancing can cost a fee, which cuts into what you save by repaying sooner.