Commercial Asset Finance Options for Contractors
Explore commercial asset finance options for contractors including instalment sale agreements and finance lease agreements. Learn about the requirements and contact Deon van Wyk for more information.
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Presentation Transcript
SAFCA SEMINAR Asset Finance for Contractors November 2019 Deon van Wyk
Commercial Asset Finance Options 1. Instalment Sale Agreement The asset belongs to you after it has been paid in full Options of lower monthly repayments with a balloon payment at the end of the term Choose a monthly repayment plan between 24 and 72 months Choose fixed or variable interest rates Includes credit protection plan to settle outstanding balance Not available for assets older than 5 years 2 | SECRET CONFIDENTIAL INTERNAL ONLY
Commercial Asset Finance Options 2. Finance Lease Agreement The asset belongs to the bank, option to buy at end of lease Affordable fixed monthly payments that are tax-deductible Options of lower monthly repayments with a balloon payment at the end of the term Choose a monthly repayment plan between 12 and 60 months Choose fixed or variable interest rates Includes credit protection plan to settle outstanding balance Not available for assets older than 5 years 3 | SECRET CONFIDENTIAL INTERNAL ONLY
Commercial Asset Finance Requirements Sole proprietor or legally registered entity Audited annual financial statements Contract for period of loan Cash Flow forecast FICA Documents Deposit and term of loan. 4 | SECRET CONFIDENTIAL INTERNAL ONLY
THANK YOU QUESTIONS DEON VAN WYK Tel: 033 2644564 Deon.vanWyk@absa.africa 5 | SECRET CONFIDENTIAL INTERNAL ONLY
