Blog – FinanceCorp
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09 May What Are Self-Managed Super Funds?

Self-managed super funds (SMSFs) are a great way of to save money for retirement. They differ from other super funds in the fact that members are also the trustees of the fund. Advantages of self-managed super funds The main advantage lies in the level of control trustees wield over the fund to meet their specific needs. In this regard it differs from retail and industry super funds, which are designed to benefit a large number of members, and whose decisions have to be based on the group’s collective interests rather than what...

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09 May What is Debtor Finance?

Most businesses feel they have no choice but to follow the industry practice of issuing invoices to customers on credit terms of at least 30 days. They are forced to follow this because it is the only way to acquire and retain clients. Unfortunately, a lot of these invoices can take up to 60 days to get paid, and this kind of delay constricts vital cash flow of the business and hampers growth. One solution around this is debtor finance. It is a way to fund slow-paying invoices and is aimed...

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09 May What is Asset Finance?

Asset finance is a type of finance used by businesses to get assets and equipment they need to grow. Typically it involves a regular payment for use of the asset over an agreed period of time, therefore avoiding the need to pay the full cost of the asset upfront. The most common types of asset finance are hire purchase and leasing. Hire Purchase Hire Purchase allows the customer to buy the equipment on credit. In this case, the finance company purchases the asset on behalf of the customer, and owns the asset until...

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09 May What is Equipment Finance?

Equipment finance is obtaining the use of machinery, vehicles or other equipment on a lease or rental basis. This avoids the need to invest capital in equipment but still allows the business to operate effectively in a short period of time. Type of business The kind of business you have and the type of equipment you need are major factors in determining whether to lease or buy. If you're just starting out and only need one computer, for instance, it makes more sense to buy. But, if you're opening an office requiring...

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09 May What is Development Finance?

Understanding development finance Development finance is funding for the purpose of comprehensive renovations or major new building projects. Examples include luxury homes, housing estates, or office blocks to be converted into apartments. Funding can be for residential, commercial and mixed use properties. Development finance is not used for smaller scale developments like the ones you see on TV where developers improve a house and “flip” it or sell it for a profit. Type and Duration Development finance typically operates as an interest-only, draw-down facility and the term of the loan would typically be...

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09 May What Are The Things to Consider When Buying Commercial Property?

Stepping in to commercial property Most of us have experience with renting a residential property or buying a house or unit. Buying commercial property can be a little more intimidating as it involves a lot more considerations to look at, but nevertheless, buying one has increasingly become a valid investment option for a lot of Australians. So, to remove the mystery and to familiarise you with the ins and outs of buying commercial property, let’s look at some of the main factors you should consider: Commercial property comes in three main types; office,...

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08 Mar Are you prepared if your circumstances change?

In the past few weeks the papers have been filled with doom and gloom. The mining boom is over and thousands of people are facing redundancies not only in the mining sector but in sectors that flow in to this industry. If you own your own home, you are probably feeling a little anxious as the economic climate looks less rosy but there are steps you can take to safe guard your home and your future. Firstly, if you are facing a redundancy, it is a good idea to talk to your...

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08 Mar Now is the time for a home loan health check!

Over the past couple of years, we have seen the official cash rate in Australia sitting at record low rates. If you have not reviewed your home loan in the last 12 months, chances are you are not getting the best deal around. The cash rate sitting at such a low rate has meant that there are some excellent deals to be had. We can run a free home loan health check for you. This will involve you providing a few simple details (usually over the phone). Once we have collected...

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08 Mar Have you considered these costs?

Buying a home can be a daunting process, especially when you do not know how much money you may be liable to spend. There are many costs that should be factored in to your budget when purchasing a property. Here are a few costs you may need to consider: Building/ Property Inspection: you may wish to have a building or property inspection carried out as a condition of sale. This is always a good idea as it brings to light any issues or areas of concern. Pest Inspection: having a pest inspection...

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08 Mar Time to review your personal finances

How often do you review your personal finances? We recommend that you do a full assessment at least once a year and an interim review every six months. Conducting annual reviews of many aspects of your life is a good habit to form. The key is to choose a time and put it in your calendar to recur at the same time each year. The start of the year or start of the financial year can both be good times to choose. Setting a particular time to review things means that...

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