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Faster, easier finance.
That's our Angle.
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Broker Bootcamp
Attention! This is
Broker
Bootcamp
Navigate the broker business like a pro.
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
Oct17
Mar18
Apr18
Sep18
Oct18
Mar19
Apr19
Sep19
Oct19
Mar20
Apr20
Sep20
Oct20
Sep21
Apr21
Sep21
Oct21
Mar22
Apr22
Sep22
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
Bank Statements or Business Financials can be requested for assessment.
Full Doc
Avoid a declined application & ask your customer two questions...
#1 | Do your bank statements display clean conduct?
Clean conduct is defined as no overdraws, dishonours, debt collection payments, super withdrawals or ATO payment arrangements.
#2 | Is your average bank balance over the last 3-6 months 10-20% of the lend size?
Exclude ATO refunds, sale of assets, business loans, PAYG income and directors cash injections from your bank balance.
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
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.