P RO D U C T FAC T S H E E T
Finance Lease & Asset Purchase
Secured against tangible business assets (not real estate), Adelaide Bank’s finance lease and asset purchase facilities offer an alternative to funding without expending working capital. Adelaide Bank can assist you to finance equipment, providing you meet our lending criteria. We have supported Business in the following industries: • Transport Industry • Manufacturing • Printing • Rural • Wine Industry • Business Services Facilities can be tailored to your individual needs and circumstances offering you flexibility. The following options are available to you: Finance Lease: Adelaide Bank leases an asset to you for an agreed term. At the end of this period a residual payment remains.You may choose to either purchase the asset from Adelaide Bank with the residual payment or return the asset to Adelaide Bank. Asset Purchase: Adelaide Bank owns an asset at the start of the facility, but the asset is gradually released to you as repayments are made (which results in GST benefits). At the end of the term, ownership of the asset is automatically transferred to you. Alternatively, a balloon payment can be prearranged, which must be paid prior to ownership transfer. Interest rate Application fee Preferred minimum loan amount Maximum loan amount Loan term Interest calculation Repayments Fixed for the term of the contract Fully negotiable with your Business Banking Manager. Minimum Fee $150. $20,000 No Maximum, subject to Adelaide Bank’s lending criteria. 5 years Interest is calculated in advance on settlement. Finance Lease – Principal & Interest for the term of the contract. Asset Purchase – Principal & Interest for the term of the contract. Repayment frequency Line fee Transaction fee Early repayment fee Monthly repayments required. Alternative repayment frequency can be structured to suit cash flow requirements. Nil Not applicable The balance of unpaid instalments for rent for the term after discounting to its present value each instalment at the discount rate. Discount rate equals the interest rate less 3% p.a.
Adelaide Bank a Division of Bendigo and Adelaide Bank Limited ABN 11 068 049 178. 169 Pirie Street, Adelaide SA 5000. adelaidebank.com.au Information correct and is subject to change. Lending criteria, fees and charges apply. Full details including terms & conditions available on application.You must maintain your loan according to the terms & conditions.
(S21308)V001 (11/08)