Paradime was established in 2002 to arrange investment property loans and home loans, initially for clients in the NSW South Coast and Southern Highlands region. However home loan finance is not the only area that Paradime is involved with. Paradime handles commercial finance and equipment finance ie: industrial equipment, heavy machinery including earth moving equipment for clients Australia Wide.
Paradime can provide information to clients on the options available to ensure that they can make informed decisions on the most suitable lending product.
It is also known as an Equipment Loan. From the beginning of the agreement, you own the asset. However, you are required to provide some form of asset to secure the loan. This can be the item itself, or equity in real estate asset. Once the loan repayments are completed, the charge on assets is lifted. An initial deposit can be made followed by payment in instalments. Another option is you can pay a lump sum at the end to conclude loan agreement.
Asset Purchase or Commercial Hire Purchase is the most preferred option when you need to have immediate ownership of the machinery or equipment. This means that you get ownership rights to the equipment or machinery but the title of ownership is received once you complete the repayments.
This type of purchase is structured to suit your cash flow either through paying an upfront deposit or making a larger the final payment. The arrangement is determined by your circumstances.
The Finance Lease or Lease Rental will allow you to negotiate the commercial purchase price and select the equipment or machinery you require. It is then leased to you for a period of between two and five years.
An advantage of using this type of package is that when the asset is used to generate income, the full lease payments are tax deductible and the GST component can also be claimed.
Paradime is not only providing assistance to buyers but also to manufacturers and distributors who are looking to provide their dealers and direct customers a complete package of product and finance.
An example of this is a recent agreement with Vicon International, an Australian company that provides bulk handling equipment such as wheel loaders and dumpers direct to plumbers, builders and landscapers and through their dealer network.
By working with Paradime, Vicon is able to provide a competitive finance solution which compliments their already very competitive product range.