Easy Farm Loans in Toowoomba for Optimum Business Solution
If you are interested in farming or any business associated with agriculture, you should get in touch with us for various lending options. We have structured the agri-finance options just like the way it is for the standard property finance options, chattel mortgage, equipment finance based on the fact that whether the asset will be purchased or financed.
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Some of the common examples of agri-finance options include equipment tractors, farm machinery, land and infrastructure. A commercial loan is also included in the category of agri-finance.
The term commercial loan here indicates the loan provided for buying different agricultural assets like farm equipment, vehicles, machinery and other properties.
Commercial loans are different from that of the other finance options. The customers here have asset ownership. The financier takes the mortgage over the asset for interest protection. They will allow you residual or balloon payments as well in some situations.
For those who are trying to find different advantages as well as obligations of taxation, this is to remind you that there is a clear difference between commercial loans and other financing options. Also, the GST and interest deductions are required to be explored as well. In this case, you need to take the advice of a financial advisor or accountant. They will help you to assess whether the commercial loan is the best option for you in that situation or not.
* Applications for credit are subject to the financier's normal credit assessment criteria. Fees or charges may apply. Full details of all product terms and conditions are available upon request. Any taxation information provided is only general in nature and does not constitute tax advice, nor is it necessarily applicable to your particular circumstances. Farm Machinery Finance strongly recommends that you consult with your accountant, financial advisor and lawyer to determine the most suitable lending option for your particular circumstances and whether any particular taxation laws, obligations or benefits may apply to you.