Personal loans cover a range of loans. With an unsecured personal loan, you can buy a car, consolidate your debts, travel overseas, buy personal goods, and more.

Types of personal financial products:

Residential property
These home loans are for residential purposes, and not commercial gain (see home loans).

Personal motor vehicle finance
Finance your car with this type of loan.

Leisure finance
Leisure loans are for financing your dream boat, caravan, bike jet ski, other lifestyle finances.

When it comes to home loans, there are so many different types available. Each kind of home loan has special features that appeal to different people depending on their circumstances.

Types of home loans:

Fixed home loans
The interest rate of these loans is fixed for a period of time (usually 1-5 years). Repayments will not increase during the term. At the end of the fixed term, your loan will roll over to a variable rate. 

Standard variable loans
The interest rate of these loans is usually determined by the economy through the term of the loan. The loans often carry flexible features such as redraw, offset facilities and extra repayments.

Split loan facility
A split loan facility is when you divide your loan into multiple parts. One part of your loan can have a fixed interest rate, and the remainder can have a variable interest rate. 

Low-doc and no-doc loans
These loans are structured to help the borrower with minimal income evidence. 

Debt consolidation loan
A debt consolidation home loan lets you combine some or all of your existing debts into your mortgage. 

Commercial loans and services can assist with your business – whether it’s to fund equipment and expansion, guarantee payment, or cover a cash flow shortage with an overdraft.

Types of commercial financial products:

Property development finance
This type of finance is for the purpose of industrial, retail, offices or residential property construction.

Rural and agricultural finance
The financing of agriculture-related activities, whether it’s loans, deposits, insurance and remittances.

Cash flow finance
This kind of loan is backed by a business’ expected cash flow. Repayments on these loans are dependent on the company’s projected future cash flows.

Acquisition finance
This form of finance allows can help your business through expansion of existing businesses, management by-outs and buy-ins, buy-out of existing shareholders, capital raising and estate planning.

Business overdrafts
Overdrafts can help your company manage cash flow and cover necessary business expenses.

Equipment finance and rental
This type of financing allows business owners to loan money or rent equipment essential for their business, such as vehicles, computers, machinery and more. 

Commercial property
Also known as commercial real estate, investment property or income property, this type of loan is used to create profit from capital gains or rental income.

Debtor Finance refers to products that fund a company by financing its invoices. Your lender will pay up to a percentage of the amount owing on your invoices so you can pay suppliers in time instead of waiting for cash flow from clients.

Types of Debtor finance:

Invoice finance
This form of lending allows you to finance your invoices from your suppliers before they are paid. This product has quick approval turnaround times and is easy to set up by brokers with minimal paperwork. The invoice value minimum is $5,000. Invoice financing helps businesses improve their cash flow.

Invoice trading
Invoice trading is when a business borrows money from an investor by using their accounts receivables, which is also known as unpaid invoices.

Having personal life insurance cover can protect you and your family from unexpected events, such as death, illness or injury. Ezyfund can help connect you to an insurance agent that can help you find competitive life insurance products from various companies.

Income protection
This insurance can cover a percentage of your income in an unexpected event where you are unable to work due to illness, injury or total disability.

Key person insurance
This insurance is taken out by a business to cover financial losses if an important member of the business was to not be able to work due to illness, injury or death. The insurance cover is used to pay for losses and recruiting a new successor.

Trauma insurance
Trauma insurance covers you if you are unable to continue work due to serious injury or illness.

Life insurance
This insurance pays a lump sum when you die. This cover goes to people you nominate as beneficiaries on the insurance policy.

Firstly, what is insurance premium funding?

Insurance premium funding allows you to pay your yearly insurance premiums with flexible repayments. Premium funding enables you to be able to pay for an insurance policy monthly, fortnightly or weekly – even if the insurance company does not offer it as an option.

With no large upfront payments and a low fixed interest rate, premium funding can help improve cash flow, whether it’s for you or your business.

*At Ezyfund, we can arrange settlement to your insurance broker and organise a loan document on your behalf.