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Asset Finance

Why join asset finance?

Home loan brokers in the business

25%

Have diversified into asset finance.

Brokers that join Angle

70%

Have a home loan background.

Number of mortgage brokers also writing commercial loans

Sourced by MFAA In Industry Intelligence Service 15th Edition

Apr17 Sep17

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1,000

3 reasons why you should diversify...

#01 | Fast paced industry, providing monthly income to grow your business.

#02 | Become a one stop shop for your customer. Don’t lose your customer to another broker.

#03 | A new product for lead generation. Cross-sell your customers.

The Foundation

How does it all work?

How does a commercial chattel mortgage operate?

Security over asset not property.

Fixed loan term.

Customer has ABN

(Asset must be for business purposes)

Low Doc Assessment
Full Doc Assessment

A low doc assessment uses alternative forms of verification to assess loan suitability. Bank statements or financials are not required.

Low Doc

“That's MAD you're on your way!"

Make sure you collect from your customer:

Medicare Card

Asset & Liabilities

Driver's License

Credit scoring

Credit scores provide the probability of the customer defaulting.

We use the Veda 1.1 negative score to provide a fast yes or no.

500

Customer score must be over 500 to qualify for a loan

Price Calculation

What is the breakdown?

Primary Assets

Chattel Mortgage

Motor vehicle up to 4.5t

Total Finance Amount

$16,950.00

Estimated Monthly Payment

$348 - $389

customer_info

On successful approval of the application, the following fees will apply:

An Establishment Fee of $440.00 will be charged as a separate fee on the day of Settlement.
An Account Keeping Fee of $4.95 will be charged as a separate fee for each Monthly payment.

The Angle Way

How to navigate Angle?

MyTip

Your customer’s credit score is protected during our application process. No enquiry will be recorded on their credit file. To qualify for an Angle loan, the Veda 1.1 credit score must be over 500.

MyTip

Your approval email will list credit and settlement conditions. Request all information from your customer to avoid settlement delays.

MyTip

To make changes to your application, click ‘amend loan details’. Your deal will be automatically updated or sent back to our credit team to review.

MyTip

If your supplier is not accredited with Angle, our portal will request supporting documents. Please ensure all settlement conditions are uploaded to avoid delays.

MyTip

Ensure your customer’s e-mail address is unique and only accessible by them.

01

Log into MyAngle

02

Click on MyProducts to start your application

03

When you click ‘review & send’ our portal runs a soft touch on your client’s credit score.

04

You wil receive one of 4 responses: 10 second approval, Low Doc, Full Doc or Not Accepted,

05

You will receive an email advising your deal has been approved or declined

06

Click MyDeals to locate your application. Upload your credit conditions.

07

Request for contracts. Upload invoice & settlement conditions.

08

Docusign contract will be sent to your customer.

09

Notify your customer to sign their contract.

10

Contract signed

11

Remittance sent & funds disbursed next business day.

Top Mistakes

How to avoid newbie errors?

Application

Incorrect asset type

Please search MyHub for assets we finance.

Incorrect brokerage, deposit, balloon or repayment timing entered in portal.

Ensure your draft has all details entered correctly prior to submitting.

Poor quality ID

ID provided must be a high-quality photo of a physical ID card. Digital ID is not accepted.

Credit

Business use of the asset does not align to the nature of business.

Provide clear notes around how the asset will be used and what benefits it brings to the business.

Incorrect trustee information

Ensure your client provides you with details of the correct trustees and beneficial shareholders.

Unacceptable property ownership

Property must be in the name of the borrowing entity, trustee, guarantor or spouse. Spousal property ownership must be evidenced by a marriage certificate, Medicare card or joint utility bill.

Settlement

Incorrect information entered when requesting for contracts.

Ensure details entered into the portal match the details on the supplier invoice. Eg. deposit amount.

Supplier bank proof unacceptable

Supplier bank details must be verified by a legitimate bank deposit slip or bank statement on bank letterhead.

Incorrect residential address provided (Does not match DL)

If the clients residential address does not match the ID provided, it will be a condition to verify their address eg. Utility bill.

The Launch

How to maximise your network?

We show

you how to maximise your

network and start off

strong

We’ll start you off...

Email marketing is one of the most successful tools!

Download our email template for an example on how to launch your new service, including content for you to use!

The Launch - Marketing Tools

Email template

Keep your customers!

Set your customers up for success by asking the right questions. We’ve made it easy for both parties by providing key interview questions!

Click the arrow to download now!

Sales Tools

Customer Interview Questions

The content on this website does not constitute financial, legal or any other professional advice.

Win More Customers

How to grow your network

Bring on a referral partner

A referral partner will recommend your financial services to their customers in exchange for a referral fee or commission split.

Accountant

Target firms that specialise in services for SME customers.

Lawyer

Target firms that specialise in services for SME customers.

Dealer

Target dealerships with no in-house broker.

How to win a customer against a dealer...

#01 | Dealers quote rate only. Educate your customer on repayment amount, term of the loan & balloons.

#02 | Work fast & secure an approval. Take advantage of our portal to find out if your customer qualifies for our 10 second approval.

#03 | Focus on their long-term business needs. Do they have plans to expand their business, and will they require additional assets?

The content on this website does not constitute financial, legal or any other professional advice.

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