Our Commitment To You

The Banking Royal Commission some 9-10 months ago now highlighted a lot of faults within the Banking system and has caused a tightening of credit availability to the small and medium sized businesses across the country.

The current Covid-19 pandemic has caused a second round of tightening with the Banks/Finance Companies credit departments. You now need to have all financial reports up to date and provide answers on how your business is dealing with the impact of Covid-19.

Some lenders have also withdrawn their automatic or ‘Tick & Flick’ approval offerings – meaning that each new application must now be a full credit submission. This is a good thing for Transport Finance as we have the systems and knowledge to facilitate these and believe that we are perfectly placed with 25 years’ experience to present a full credit submission to our lending panel, complete and ready for them to make a decision on.

At Transport Finance – we will need to ‘spread’ your lending requirements across a much broader range of Banks/Finance Companies than ever before. In the past, the Big 4 Banks plus a few would receive 60% of the loans settled. We are now seeing our business spread much further with the Big 4 + a few down to around 30%. This doesn’t mean that we are not getting business settled, on the contrary, we are getting just about every deal that hits our desks approved but using a greater range of lenders to achieve this outcome.

With ‘working from home’ in full swing at the Banks and their off-shore processing centre’s in the Philippines, Malaysia and so on all but closed – there is a delay in the processing of applications and settlements are taking upwards of 4 days. We will be advising you at every stage along the journey as well as the dealership or seller of the goods.

Let me assure each one of our clients that our commitment to providing you with the very best customer service experience has not waned. It is our intention to communicate, discuss and advise you at every step of the process so that you, the client, feel fully informed of exactly where your application is, what the expected timeframe will be and what we are doing to progress the loan towards a successful outcome. 

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