ANZ Business Finance Eligibility Indicator
Q. What is an 'Eligibility Indication'?
A. The indication that the ANZ Business Finance Eligibility Indicator will provide you with is based on standard ratios and affordability measures - in other words, it assesses your ability to meet the repayments for your desired finance amount. It is, however only an 'indication' of your eligibility because there are many other factors that will be considered in a finance application; for example, the finance purpose, security offered, etc.
Q. If I am confirmed as being eligible does this mean that I have been approved for this amount?
A. No. This indication does not represent an approval for your desired finance amount. As we state above, there are many other factors that have to be considered as part of a finance application. If you do decide to apply for business finance with ANZ you will have to meet all our finance approval criteria and complete a finance application. However, you will be able to commence your application with a strong indication as to whether or not you are eligible for that finance. You can be confident that you will be considered for finance close to the figure confirmed by the ANZ Business Finance Eligibility Indicator.
Q. What can I do with this indication?
A. You could use this indication to set some price limits on your search for new business equipment, new business premises, etc. or to decide how much you want to apply for in your finance application. You should not use this indication to bid for a property at auction or to make an offer for new business equipment etc., but it can certainly help you decide which properties or equipment to look at. If you are ready to take that final step and make a bid or an offer you should complete the ANZ On-Line Business Finance Application.
Q. How much information do I have to provide to get an indication of the amount I am eligible to borrow?
A. There are some mandatory fields within the ANZ Business Finance Eligibility Indicator. You must complete these fields. If you do not complete this information a red star will be displayed beside the incomplete field after you have pressed the 'Next' or 'Submit' links you will find on each page. Obviously, the more information you can provide, the more accurate the indication will be.
You do not have to provide any information that could be used to identify you, such as your name or address. The ANZ Business Finance Eligibility Indicator is designed to allow you to remain completely anonymous.
Q. Why does the eligibility indicator require a minimum 2 full years of trading to provide a result?
A. Businesses which have traded for a shorter period of time, or which are start-up, require a different method of assessment to determine if they are eligible for business finance. Therefore, to determine if your business, having traded for less than 2 full years, is eligible for business finance, you should complete the ANZ On-Line Business Finance Application. You will also be required to submit additional information such as cashflow forecasts and a detailed business plan.
Q. Does filling in the ANZ Business Finance Eligibility Indicator mean that I have applied for finance with ANZ?
A. No. The ANZ Business Finance Eligibility Indicator is obligation free and totally anonymous. It is not a finance application. If you do decide to apply for finance with ANZ you will have to complete a full finance application.
Q. Can I enter negative numbers, letters or zeroes in the ANZ Business Finance Eligibility Indicator?
A. Negative numbers are only permitted in the ANZ Business Finance Eligibility Indicator in the 'Net profit before tax and extraordinary items' field to indicate a loss was made for that period. If you enter a negative value in any other field an error message will be displayed and the field will reset to zero. Zeroes are valid responses within the ANZ Business Finance Eligibility Indicator. Please note the ANZ Business Finance Eligibility Indicator does not accept worded amounts. e.g. Two thousand dollars.