BF Money Acquires Lendfin’s Loan Book
Lendfin, a mortgage and asset finance brokerage also based in Parramatta is a company that operated and served many of the same clients that we did. I have always respected the family and business and many of Lendfin’s clients are known to us at BF Money already. We will be in touch to introduce ourselves to the people we don’t know and to welcome everybody personally.
We will be conducting a review of your existing loan facility to make sure that it is at the best rate your existing lender can offer you. Some of the loans were originated many years ago, and there may be a cheaper product available at the same lender that we would like to make available to you.
By aggregating together, we will have greater reach and prominence with the banks, and with capital markets generally to benefit us all. We will accelerate our IT development to provide client with unparalleled efficiency, insights and value-added advice and recommendations on how to borrow cheaply and ensure that funding is always available when you need it.
We hope you enjoy working with us and that you find extraordinary value in our approach so that we can take your investments, business and development ambitions to the next level.
Tax Debts to be reported on Credit Files
Equifax, Australia’s largest and most widely used credit reporting agency has signed an agreement with the ATO with the intention of displaying outstanding tax debt information on commercial credit reports.
The ATO will be providing Equifax with weekly updates on businesses that:
Have one or more tax debts and at least $100,000 is overdue by more than 90 days
This will impact your commercial credit score and is visible to lenders. The timely payment of tax debt has become a crucial requirement in securing the cheapest sources of capital for your business and property lending. I strongly encourage you to discuss tax planning with your accountant to avoid you needing to pay more in interest than you need to.
Don’t hesitate to speak to us if you need more information on this important topic.