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Overview
Customers may allocate a sub-limit within their Equipment Line to use for a fitout. The sub-limit enables a repayment deferral period of 120 days to give customers time to complete their fit out and begin generating revenue before repayments start.
How it works
- Your customer allocates a portion of their Equipment Line limit to a fitout sub-limit (minimum $25,000).
- Your customer can upload and pay multiple invoices from different suppliers, with a $20 minimum invoice value.
- Interest is capitalised during the 120-day payment deferral period.
- At the end of this period, the total balance converts to a 5-year amortising repayment schedule.
Benefits
Finance fitouts with flexibility and cash flow in mind, so your customers can focus on getting their business up and running.
The key benefits include:
- Preserving cash flow during the build phase - 120 days with no repayments, allowing customers to complete their fitout before repayments begin.
- Funding multiple invoices through one sub-limit - Draw down as needed across multiple suppliers and invoices during the fitout period, rather than managing separate applications.
- Covering a wide range of fitout costs - Includes both physical items and soft costs such as design, consulting, and installation.
- Quicker access to funds without reapplying - Once the Equipment Line is approved you or your customer can upload invoices and pay suppliers directly without additional credit assessments.
Fitout eligibility
There are certain items that can be funded under the fitout sub-limit, such as fixtures, surfaces, chairs, air conditioning, and similar items. Customers can also fund structural works, including frames, walls and building alterations.
Examples of eligible spend may include:
- Joinery and cabinetry
- Flooring and finishes
- Furniture and furnishings
- Equipment installed as part of the fitout
- Structural building works