Frequently Asked Questions

Can my business apply for clean energy finance with Classic Funding Group?

What are the benefits of clean energy finance with Classic Funding Group?

Why upgrade to clean energy?

What clean energy finance solutions are available?

What are my term options?

Why is a clean energy finance solution with Classic Funding Group better than paying cash?

What will it cost?

If I haven’t found a clean energy equipment supplier, do you have any suggestions?

How do I apply?


 

Can my business apply for clean energy finance with Classic Funding Group?

Applying for clean energy finance with Classic Funding Group is easy. General credit eligibility requirements include:

  • Minimum 2 years in business
  • Clean energy and efficiency assets predominantly for business use
  • Freehold installation site owned by the business, directors or principals
  • Leasehold installation site requires landlord’s waiver and remaining lease term must exceed proposed finance term
  • Clear credit history

Call our Business Solutions clean energy team on 1300 780 895 for more information.

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What are the benefits of clean energy finance with Classic Funding Group?

Classic Funding Group’s clean energy finance solutions can give businesses access to a range of benefits including:

  • Fast and simple application and documentation process
  • Finance solutions with no upfront deposit and fixed monthly payments 
  • Flexible terms of 2 to 7 years - preserve your capital for other core business needs
  • Finance payments may be tax deductible as a business expense*
  • Energy Savings – combat rising energy costs and reduce your operating expenses
  • Deal with a leading, Australian owned specialist clean energy finance provider.
  • Friendly and experienced Australian based customer service team to help you
  • Approved Vendor Partners – choose from a range of Approved Vendor Partners
  • Finance the system you want from the supplier you want if you already have a solution quoted
  • Reduce Carbon Emissions – help the environment by adapting energy efficient technology

* We do not provide financial advice. You should obtain your own financial advice on the tax and accounting treatment of any finance solution you choose.

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Why upgrade to clean energy?

As electricity prices continue to rise, smart businesses are choosing to direct some of their expenditure into clean energy solutions in order to reduce energy bills. For example, the cost of investing in a solar system or energy efficient solution may be offset against the savings achieved from reduced power bills. Help the environment and your bottom line.

What clean energy finance solutions are available?

Classic Funding Group offers a range of clean energy finance solutions to suit your business needs.

Rental Agreement:

Under a Rental Agreement (also known as an Operating Lease), Classic Funding Group buys and owns the assets. You pay a rental to use the assets and enjoy their energy saving benefits. Other features include:

  • Fixed monthly payments
  • Payments may be tax deductible*
  • The GST component of your monthly payments may be claimed as an input tax credit*
  • Flexible end-of-term options, including:
    • Offer to purchase the asset
    • Upgrade to and finance the latest technology
    • Extend the Agreement for an additional Fixed Term
    • Continue to rent and use the asset on a month to month basis

Stepped Rental

  • Our lowest possible first year payments with annual stepped increases
  • Payments may be tax deductible*
  • The GST component of your monthly payments may be claimed as an input tax credit*
  • Flexible end-of-term options, including:
    • Offer to purchase the asset
    • Upgrade to and finance the latest technology
    • Extend the Agreement for an additional Fixed Term
    • Continue to rent and use the asset on a month to month basis

Finance Lease:

Under a Finance Lease, Classic Funding Group buys the assets. You then make fixed monthly payments for an agreed term. At the end of the term, you can either purchase the asset for the previously agreed residual value, or apply to refinance the residual amount. Other features include:

  • Monthly payments may be tax deductible*
  • End of term ownership option is secured
  • Flexible monthly payment amounts depending on the asset residual value

Secured Loan Agreement:

Under a Secured Loan Agreement (previously known as a Chattel Mortgage), Classic Funding Group lends you the principal amount to purchase the assets. Your business then makes regular repayments of both principal and interest.

Your business “owns” the asset and it is on balance sheet. Classic Funding Group takes a security interest against the asset to secure the loan.

Other features include:

  • Customer ownership from day one
  • GST on the purchase price may be claimed as an input tax credit in the first Business Activity Statement (BAS) following settlement*
  • Interest component of each monthly payment may be tax deductible*

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Hire Purchase Agreement:

Under a Hire Purchase Agreement, Classic Funding Group buys the assets and you make regular fixed payments to “hire” the assets. The assets are on balance sheet and Classic Funding Group transfers full legal title in the assets to you at the end of term after you make the final payment.

Other features include:

  • GST on the purchase price may be claimed as an input tax credit*
  • Interest component of each monthly payment may be tax deductible*
  • Flexible final payment options, including increasing the residual value to reduce the monthly hire charges

Call 1300 780 895 to find out more about the options Classic Funding Group can provide your business.

* We do not provide financial advice. You should obtain your own financial advice on the tax and accounting treatment of any finance solution you choose.

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What terms lengths do your finance solutions offer?

At Classic Funding Group, we offer terms from 2 – 7 years. If you are leasing your business premises, your finance agreement term must not exceed your remaining principal lease term, up to a maximum of 5 years (a landlord’s waiver may be required).

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Why is a clean energy finance solution with Classic Funding Group better than paying cash?

Tailored financing enables your business to get the assets it needs without the substantial upfront costs. In fact, your monthly payments may even be lower than the savings you will realise from the use of the assets, which will help your ongoing cash flow.

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What will it cost?

Our Commercial Clean Energy Calculator is coming soon. For now, you can ask one of our Approved Vendor Partners for a finance quote or contact our team on 1300 780 895 to find out more about clean energy finance from Classic Funding Group.

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If I haven’t found a clean energy equipment supplier, do you have any suggestions?

We have a number of Approved Vendor Partners who operate Australia wide. Please review our list of Approved Vendor Partners to find a convenient regional vendor that will suit your needs.

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How do I apply?

You can get in touch with one of our Relationship Managers on 1300 780 895. Alternatively, you can send an email to contact us or download an application form here.

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