Asset & Equipment Finance Express (or next-to-no doc) is a loan that enables businesses to purchase and own equipment from the beginning. Our next-to-no doc process involves a quick 5-minute online submission, bank statements only assessment and very minimal documents to secure your conditional approval.
Banjo can consider loan amounts ranging from $20k to $250k over 12 to 60 months.
Minimum eligibility is an established ABN business with 1 year trading history and GST registered. Other lending criteria may apply.
Banjo Asset & Equipment Finance Express is suited to primary (wheeled assets) and secondary (non-wheeled assets) income generating, serialised assets that help move businesses forward. Some examples include (but not limited to):
Generally, Banjo can consider the following end of term (the age of the asset at the end of the loan term) ages:
Do you have an asset or equipment outside the above guidelines? If so, please contact your Business Development Manager who is available to discuss your options.
Banjo does consider balloon payments on a case-by-case basis. A balloon payment is a lump sum repayment at the end of the loan agreement after all regular repayments have been met. Where a loan is eligible for a balloon payment, your regular repayments will be lower, and you will pay more interest over the loan term. Where a loan does not have a balloon payment, your regular repayments will be higher, and you will pay less interest and there will be no lump sum repayment at the end of the loan term.
Upon receiving the application, our team will review and provide an initial assessment within 12 business hours. Generally, once loan documents are complete and in order, our team will conduct final checks to enable you to access your equipment.
You can speak directly with a local Business Development Manager to assist with any questions you may have, or reach out on 1300 22 65 65.