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About Me

James Coates

Finance Manager
Classic Funding Group
North Sydney, New South Wales
Business Development Manager at Classic Funding Group

My Activity

Q: I read somewhere that it is possible to ask employers to salary sacrifice things like cars and laptops. Can you explain why that would be beneficial versus purchasing those items the regular way?
A: Other answers here are correct around reducing taxable income, plus I believe that if there are FBT implications on the purchases, the employer is liable to pay them.
Q: I am a sole trader who's credit rating doesn't clear until the 2/11/17. I have a proven track record of payments of up to $451.61p/w and I need a work vehicle as soon as possible. Any potential lender available that may consider my case? Thank you.
A: Hi Cameron - it's harder to secure an approval with a credit black mark, but there are always options. Getting a full application together, highlighting the issues and what you've done to rectify them, as well as highlighting the business opportunity are all critical components. That's what brokers are for - to help present your application in the best light and give you feedback on your best options.
Hope that helps - a good broker will give you the best chance of an approval.
James Coates
Q: I wish to finance a number of commercial solar installations at client premises. I will own them and make revenue from a service agreement with the clients over a 10 year period. What are my best options for financing?
A: What you're after is called a power purchase agreement. It's where you fund the equipment, place it on the client's building then share the savings. It's more profitable for you and removes risk from the client, but it requires you to keep them on your balance sheet and secure funding. For multiple projects, there's often a better way and often we find the retailer is unable to keep borrowing to leverage sale opportunities. With a standard equipment finance solution, you're pis up front and can continue to grow without debt. Regardless, you and your client have many options with rates starting at 4.99% and on and off balance sheet solutions.