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During these unprecedented times, lending conditions have been challenging, however, there has been some really positive news to support SMEs.

The Federal Government has launched the Coronavirus Small and Medium Enterprise (SME) Guarantee Scheme including the Instant Asset Write-off program and a 50% Govt Guarantee on loans. These measures are aimed at providing SME businesses, including self-employed individuals, with access to additional funding to help support them and to stimulate the economy.

TLA vehicle and equipment finance provider, Designer Financial Services (DFS) has provided this snap shot of how these programs can work in your business’s favour, helping your business grow.

The increase and extension of the ATO Instant asset write-off

With the ATO increasing the Instant asset write-off from $30k to $150k (Extended until the 31st of December 2020) now is the best time to invest in your infrastructure to support business growth goals. Take advantage of lowest ever interest rates, the instant write off and government underwriting of loans to buy any of a variety of types of assets & equipment, including:

  • Vehicles – Utes, Trucks, Water Trucks, Trailers and Industry-specific vehicles
  • Yellow Goods
  • Excavators
  • Construction equipment
  • CNC Machines
  • Piling rigs
  • Cranes

It is, therefore, a good time to purchase assets, which will help grow your business turnover. Additionally, the interest rates offered by the financial institutions we introduce applicants to have never been lower.

Government Loan Guarantee

The Government will guarantee 50 per cent of eligible loans issued by participating lenders under the Coronavirus SME Guarantee Scheme.

This means SME Business owners can finance and purchase assets, such as:

  • Utes – Including vehicle procurement & trade specific fit-outs
  • Tipper Trucks
  • Trucks
  • Bob Cats
  • Lawnmowing equipment
  • Excavators
  • Trailers
  • Other machinery

All loans taken out will be underwritten up to 50% by the Government, taking pressure off business owners.

Unprecedented Low-Interest Rates

Interest rates have never been as low as they are now, adding to the value of investing in your infrastructure at this time. DFS works with clients to source the right vehicles and equipment at the best rates.

***This advice is not specific to your business. Please seek advice from your accountant or tax advisor to see how this will work for you.

Find out more
For more information or a no-obligation quote on a specific scenario, please contact your dedicated equipment finance broker, Ben Alford on any of the below details:

M: 0450 512 535
E: ben@designerfinancialservices.com.au
W: www.designerfinancialservices.com.au

 

 

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