Important information regarding COVID-19
Capital Finance Australia Limited is committed to supporting our business customers through these challenging times and will continue to be here to help as the COVID-19 situation evolves.
We are currently receiving a high volume of customer enquiries and appreciate your patience. We are working hard to ensure that you have the help needed to support your business at this challenging time and will respond as soon as possible.
How we are supporting:
- No establishment fees for equipment finance loans until the end of June 2020: This helps small and medium businesses take advantage of the increased instant asset write-off and accelerated depreciation provisions in the Federal Government stimulus package.
- Vehicle and equipment loan repayment deferral: Eligible Capital Finance business customers who need help managing their cashflow can defer principal and interest payments# of vehicle and equipment finance facilities (Lease, Hire Purchase, Rental and Goods Loan), for six months.
Eligibility for vehicle and equipment loan repayment deferral
The deferred payment period applies to eligible business connections impacted by COVID-19:
- with total business exposure of less than $10 million per customer group; and
- where the business is operated in Australia with less than 20% foreign ownership; and
- for those customer's above $3 million total business exposure, with current facilities that have not been in arrears in the last 90 days.
Please note that:
- any current fixed rate period will also be extended by 6 months at that fixed term rate; and
- your loan terms will be extended by at last 6 months.
# Interest deferred will be capitalised. Terms and conditions and eligibility criteria apply. For Equipment Finance facilities and loans only, instalments will be deferred and finance charges will still apply over the deferred period. Instalments will be recalculated at the end of the deferral payment period and will include finance charges.
We are currently receiving a high volume of customer enquiries and appreciate your patience. We are working hard to ensure that you have the help needed to support your business at this challenging time and will respond to your application as soon as possible.