Finty
BOQ Specialist

BOQ Specialist Fit Out Finance

Equipment financeSecured

You've rented or purchased premises for your practice and now you need to fit it out with fixtures and fittings to make it look professional. We know it's a complex task, with all sorts of hidden pitfalls and unforeseen costs that can be exacerbated by restrictions of the finance you've arranged. We make it easy with a flexible escrow facility which covers everything - and we mean everything, from dry walling right down to carpets, windows, paint and plumbing. We manage the payments to suppliers under your instruction and you pay the total amount back in one simple repayment structure. Fit-outs are a large investment in your practice and while it's important that you choose the right assets and equipment, it's equally important that you choose the right kind of financing.

Written byDavid Boyd
Interest rate a year, from
10.95%
Establishment fee
Not published
Monthly fee
$25
Borrow
Not published

Monthly repayment

$100,000 over 5 years

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What it would cost

At the lowest published rate of 10.95%, including the monthly fee. The rate you are offered depends on your business, and the establishment fee is not included.

Monthly repayment
$2,197
Total repayments
$131,805
Interest and monthly fees
$31,805

Loan details

Rates

Interest rate (a year)
10.95%
Rate type
Variable
Security
Secured
Type of finance
Equipment finance

Limits and fees

Loan amount
Not published
Loan term
Not published
Establishment fee
Not published
Monthly fee
$25

How it compares

Against the other secured business loans we compare. Typical means the middle half of them.

Cost of $20,000 over 5 years

$7,561

Interest and fees at its starting rate. Typical is $5,453.

Monthly fee

$25

A typical monthly fee is $20.

Pros and cons

Pros

  • One rate for everyone. Everyone approved gets 10.95%, so the rate you see is the rate you get.
  • No early repayment fee listed. You can pay the loan off early, or refinance, without a penalty. Check the terms to be sure.

Cons

  • A $25 monthly fee. That adds $1,500 over 5 years, as well as the interest.
  • A variable rate. Your repayments can rise if the lender lifts its rate, though they can also fall.
  • Secured against an asset. That usually keeps the rate down, but the lender can take the asset if you can't repay.

Similar loans

Business loans of the same kind from other lenders that start at a similar interest rate.