Lending For New ABN Holders
Multipli has over 15 years of experience working with brokers as a non-bank lender. Our 1-day ABN solution was designed to meet the needs of our brokers and their customers alike.
Multipli's 1-day ABN lending solution offers intelligent finance across all primary assets for new or recently established ABN holders.
About 1 Day ABN Lending
Multipli's 1-day ABN offering
Our 1-day ABN finance solution can assist your customers that are looking to establish their own ABN and transition into a contracting role, albeit with their own financed vehicle.
Lending requirements to match their situation
Usual lending requirements require two plus years of ABN history. Multipli have designed the 1-day ABN finance solution to remove this burden, allowing new contractors to get finance for primary assets and transition into contracting by providing evidence of a verifiable work source.
Like low doc, no credit references or bank statements are required
Our 1-day ABN product can facilitate primary asset finance by simply assessing a range of evidence that indicates industry experience and work source for the primary asset to be financed. This will allow your customer to transition into contracting without a complicated application process.
Your customers will simply need to provide the requirements outlined below.
1 DAY ABN LENDING NEXT STEPS
What you will need to support your 1 Day ABN lending submission?
As a non-bank lender specialising in commercial loans for ABN holders with less than 2 years trading history, the process is simple. You will need the following:
- A verifiable work source letter (stating what work is available an what rates of pay)
- A completed 12-month cash flow forecast (using this template)
- A clear credit history
- Your client will need a 20% deposit (if they currently own a home or have a mortgage) or;
- Your client will need a 30% deposit (if they do not own their own home, or intend on buying in the future).
In either case, the upfront deposit may be reduced by 10% where the same percentage is applied via accelerated payments in months two through five (by agreement).
Ready to discuss your 1 Day ABN lending requirements?
Speak to our friendly and highly experienced team. We’re ready to assist with your 1 day ABN lending needs.
Stewart Hickey - Sales Manager
M 0409 843 398 E stewart.hickey@multipli.com
or
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