Business or commercial marine finance are available when the watercraft being purchased is used primarily for the purposes of a business or in a business operation. Proof of the use of the watercraft in the business will be requested.
To be eligible for commercial finance, you must have a current ABN, be operating an ongoing business concern and provide the business financial documentation as requested by the lenders. This may include BAS statements, business accounts, annual business income tax return and other financial information.
If a business does not have all the documentation as requested by a lender, Jade can seek a quote for a Low Docs or No Docs Boat loans for the business.
Simply holding an ABN does not automatically make an individual eligible for commercial marine finance.