Questions
Straight answers, by type of finance.
Bands and figures are typical market ranges checked on 8 September 2026. Your lender, security and financials decide the actual terms.
Before you enquire
Does an enquiry affect my credit file?
No. Sending an enquiry does not authorise a credit check. Before any lender assessment, your broker explains what is checked, whether it is you or your company, and why.
What does the broker cost?
For most loans the lender pays Chorus a commission when your loan settles. Where we charge a fee, for example on some development or private lending, we tell you in writing before you proceed. Advice on the price, the debt or the funding plan is a separate service with its own agreed fee. You can ask for the amounts at any time.
What happens after I send an enquiry?
A broker reads it and contacts you to agree a time to talk. In that conversation we confirm the amount, the timing and which documents the likely lenders will ask for. Nothing goes to a lender, and your credit file is not checked, until you decide to proceed.
Is this an approval or an offer?
No. An enquiry is the start of a conversation. Any finance is subject to a lender's assessment, valuation where relevant, and approval.
Can you work with my accountant?
Yes, with your permission. For evidence questions, entity structure and tax positions, a short conversation with your accountant usually saves a round of back-and-forth with the lender.
Asset and equipment finance
Do I need a deposit for equipment finance?
Often no, for standard assets with a clear resale market. Lenders may ask for a contribution for older, specialised or imported equipment, or where the business is newly trading. Your broker tells you which applies before an application.
Chattel mortgage, finance lease or hire purchase: which one?
It depends on who should own the asset, how you account for GST, and your tax position. Under a chattel mortgage the business owns the asset from day one and can usually claim the GST on the purchase price in the next BAS. Under a lease the lender owns it and GST is paid on each rental. Your accountant confirms the tax treatment for your situation.
What is a balloon payment?
A lump sum left at the end of the term to reduce the regular repayments. Balloons of about 20 to 40 percent of the asset price are common on vehicles and equipment over terms of one to seven years. A larger balloon lowers repayments but leaves more to refinance or pay out later.
Can I get equipment finance without full financials?
Yes, for smaller amounts. Some lenders lend up to a set amount on a signed declaration instead of financials (low-doc), for established businesses with a clean repayment history, subject to assessment. Above that amount, or for newer businesses, expect to provide financial statements or BAS. We tell you which path fits before you spend time on paperwork.
How long does equipment finance take?
Low-doc equipment finance under a lender's threshold is often approved within days once the quote and identification are in. Applications with full financials, or for unusual assets, take longer. Timing depends on the lender and the completeness of the documents, and is never a promise.
Commercial property finance
How much deposit do I need for a commercial property?
Typically 25 to 35 percent of the purchase price plus costs. Lenders express this as a loan-to-value ratio: about 65 to 75 percent for standard security such as offices, warehouses and retail, and about 55 to 65 percent for specialised security such as childcare centres, service stations or medical premises. The exact band depends on the lender, the lease and the valuation.
Can my SMSF buy a commercial property?
Often yes, including the premises your own business rents at market rent, through a special SMSF loan (a limited recourse borrowing arrangement). Lenders assess the fund's trustee set-up, contributions and cash on hand. You need your own financial and legal advice on the SMSF side. Chorus arranges the finance only.
What loan terms and features are typical?
Terms of 5 to 15 years are common, with some lenders offering up to 25 or 30 years. Interest-only periods, annual reviews and offset-style features vary by lender and by whether the property is owner-occupied or an investment.
What do lenders look at on an investment property?
The lease: who the tenant is, how long is left, when the rent goes up and, with several tenants, how their leases end over time. Then the valuation, whether your business or rental income covers the repayments, and who will own the property.
What interest rate will I pay?
It depends on the loan-to-value ratio, the security type, the lender and your financials. The Reserve Bank publishes the cash rate and average business lending rates; once we have your numbers, your broker gives you a dated figure from a named lender. We do not publish rates as promises.
How long does a commercial property loan take?
Typically 4 to 6 weeks from a complete application to settlement, sometimes longer where a valuation, lease review or entity documents are outstanding. Tell us your contract dates early.
Development and construction finance
How much equity do I need for a development?
Senior lenders typically fund about 65 to 75 percent of total development cost, or a similar share of the projected end value, whichever is lower. The balance is your equity: land, cash, or approved presales. Non-bank lenders may go further at a higher price.
Do I need presales?
Banks usually want presales covering about 70 to 100 percent of the debt on residential projects. Some non-bank lenders accept fewer, or none, for a higher rate and fee. The right mix depends on the project, the market and your timeline.
What is the difference between LTC and LVR?
Loan to cost (LTC) is the loan as a share of total project cost including land, construction, consultants and interest. Loan to value (LVR) is the loan as a share of the end value. Lenders test both and lend to the lower result.
How do construction drawdowns work?
Funds are released in stages as work is completed, usually checked by a quantity surveyor (QS). Interest is added to the loan during construction. The builder's contract, the build schedule and the QS report set the timing.
I have never developed before. Can I get finance?
Sometimes, for a small first project such as a duplex or a townhouse pair, with a strong feasibility, an experienced builder and enough equity. Lenders weigh your team as much as the numbers. Talk to us before you buy the site. That is the most useful step.
Are there broker fees on development finance?
Development and private facilities often carry a broker fee, in addition to or instead of lender commission. The amount depends on the facility type, its size and the work involved. Chorus tells you the arrangement in writing before you proceed.
How long does development finance take?
Typically 6 to 12 weeks to first drawdown with a bank once we have all the documents, and often less with a non-bank lender. Valuation, QS review and legal documents drive the timeline.
Cash flow and business loans
Can I get finance with ATO debt?
Often yes. Several lenders accept a formal ATO payment plan that is up to date. We ask for the plan and your recent payment history, then match you to a lender that accepts it. A debt disclosed at the start is usually workable.
Overdraft, line of credit or invoice finance: which one?
An overdraft or line of credit suits recurring gaps. Invoice finance suits businesses that wait 30 to 90 days for customers to pay. Term loans suit one-off needs such as an acquisition. We compare the total cost over the term.
Are online business loans the same thing?
No. Short-term online lenders usually carry a higher cost and a shorter term than a bank or non-bank facility. They suit some situations. We tell you when a bank or non-bank facility is cheaper for the same need.
Do I have to offer my home as security?
Not always. Unsecured facilities exist for established businesses at a higher price. Secured facilities use business assets, property or a director's guarantee. We explain what each lender asks for before you commit.
What if my tax returns are out of date?
Lenders can often use other evidence. If your tax returns do not reflect current trading, BAS, business bank statements or an accountant's letter can stand in. The path depends on the amount and the lender.
Business acquisition and debt advisory
How much will a lender fund on a business purchase?
For a business with little property, such as a café, restaurant or salon, lenders fund a portion of the purchase price set by their policy, with the balance from your own funds or vendor finance. Where residential or commercial property is offered as security, the share can be higher. The business's trading history, the lease and your experience decide the figure.
What will a lender want to see?
Two to three years of the vendor's financials and BAS, the lease and its remaining term, the sale contract and asset list, a list of what you own and owe, and a short plan for the first year. If the vendor's books are informal, the lender will discount the profit they show.
What is debt advisory and how is it paid for?
Advice on the price, the debt and the funding plan for a business you want to buy, a project, or a business you already run. We agree with you what the work looks at, and the fee, in writing before work starts. It is separate from arranging the loan and is not credit assistance. The fee is separate from any commission a lender pays when your loan settles.
Can you arrange accounting, tax or legal advice for the purchase?
Yes. We engage consulting partners, directly and through referral, for depreciation schedules, accounting and tax advice, and legal advice on the contract and the entity. Chorus does not give that advice itself.
Does vendor finance help?
Often. A vendor loan for part of the price reduces the cash you need and shows a lender that the seller stands behind the numbers. The lender is paid back before the seller, and will want to see the terms of the seller's loan.
How long does acquisition finance take?
Typically 4 to 8 weeks to settlement once we have all the documents. The vendor's financials, the landlord agreeing to move the lease to you, and any valuation set the pace. Starting the conversation before you sign the contract shortens it.