Finty
Plenti

Plenti Commercial Flex Loan

Equipment financeSecured

A commercial asset finance product for business customers. Allows extra repayments and reamortisation of the loan repayment schedule at any time. Available for the purchase or refinancing of motor vehicles and commercial trucks via accredited third parties. Credit subject to approval.

Written byDavid Boyd
Interest rate a year, from
8.54%
Establishment fee
$500
Monthly fee
Not published
Borrow
$5,000 to $150,000

Monthly repayment

$100,000 over 5 years

Apply now

What it would cost

At the lowest published rate of 8.54%. The rate you are offered depends on your business, and the establishment fee is not included.

Monthly repayment
$2,054
Total repayments
$123,215
Interest
$23,215

Loan details

Rates

Interest rate (a year)
8.54%
Rate type
Fixed
Security
Secured
Type of finance
Equipment finance

Limits and fees

Loan amount
$5,000 to $150,000
Loan term
Up to 7 years
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.

Cost of $20,000 over 5 years

$5,143

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

Setup fee

$500

A typical setup fee is $549.

Most you can borrow

$150,000

Typically you can borrow up to $1,000,000.

Longest term

7 years

6 years is the usual longest term.

Pros and cons

Pros

  • One rate for everyone. Everyone approved gets 8.54%, so the rate you see is the rate you get.
  • A fixed rate. Your repayments stay the same for the whole loan, which makes it easier to budget.
  • Extra repayments. Paying more than the minimum pays the loan off sooner and cuts the interest you pay.

Cons

  • A lower limit. Up to $150,000, less than the typical $1,000,000, so it may not cover a larger purchase.
  • 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.

Similar loans

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