Pepper Money Secured commercial loan
Equipment financeSecured
Our Secured Commercial Loan provides you with the ability to buy a range of acceptable assets such as vehicles, equipment, yellow goods, or machinery to support your business. The asset is the security for the loan. You will have fixed monthly repayments and agreed loan terms.
- Establishment fee
- $6
- Monthly fee
- $9
- Borrow
- $5,000 to $300,000
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
- $5,000 to $300,000
- Loan term
- 1 year to 7 years
- Establishment fee
- $6
- Monthly fee
- $9
How it compares
Against the other secured business loans we compare. Typical means the middle half of them.
Setup fee
$6
A typical setup fee is $549.
Monthly fee
$9
A typical monthly fee is $20.
Most you can borrow
$300,000
Typically you can borrow up to $1,000,000.
Longest term
7 years
6 years is the usual longest term.
Pros and cons
Pros
- Extra repayments. Paying more than the minimum pays the loan off sooner and cuts the interest you pay.
- 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 $9 monthly fee. That adds $534 over 5 years, as well as the interest.
- Secured against an asset. That usually keeps the rate down, but the lender can take the asset if you can't repay.
- A $35 late payment fee. Setting up automatic repayments avoids it.