Yes, you can repay a loan early. If you choose to, you will only pay the remaining principal plus a pro rate of the instalment of the interest cost for that payment period.

No, there are no other charges or costs if you take a standard loan and comply with the terms of your loan.

If you are required to provide security as a precondition to a loan, we may charge fees relating to the registration of a security. We will obviously notify you if this is relevant prior to you entering into a loan.

The only other charges that may apply are dishonour/late fees and default interest (which will only apply if you fail to pay a scheduled repayment on time) and our enforcement costs if you default. If you are in default, instead of requiring you to repay your loan at that point we may charge an additional risk margin (but will always give you prior notice and an opportunity to avoid that additional margin by repaying the loan instead).

Banjo Asset 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 Asset & Equipment Finance 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): 

• Business Equipment: Construction equipment, earthmoving equipment, landscaping equipment, manufacturing equipment, quarrying equipment, medical equipment and waste/recycling equipment. 
• Vehicles: Cars, light commercial vans, forklifts, trailers, trucks, SUVs and Utes. 

Borrowers must generally meet the following minimum criteria:

1. Registered Australian business and Australian citizen or permanent resident.
2. The business must be at least 2 years old and have a minimum annual turnover of $500,000.

Other lending criteria will apply. Typically, we do not lend to businesses in the property development or regulated utility industries.

Upon receiving the application, our team will review and provide an initial assessment in as little as 12-24 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. 

With only 10 simple online questions to complete, along with identity and data verification, an application takes just minutes. You’ll generally get an answer from us within a few business hours. There’s no paperwork to fill out, and we accept electronic signatures. Finally, once your loan is approved, the funds are deposited in your account within 24 to 72 hours.

To become an accredited partner with Banjo it is as simple heading over to our dedicated Partner Portal by clicking here.

Read the terms and conditions and sign up!