Who this covers: pool builders and installers, fibreglass and concrete pool contractors, and the landscaping businesses that build around them.
What lenders do differently
The home loan: how the income is read
Returns for two years with add-backs; seasonal income averaged; customer deposits and progress payments show as liabilities until the stage is reached.
Excavators, trucks and pumps
Machinery finance with a balloon where the plant holds value; trucks over 4.5 tonnes on longer terms; used plant with a valuation.
Stage-paid contracts
Residential pool contracts are paid in stages set by the home building rules, with a capped deposit. The gap between shell, equipment and the stage payment is covered by an overdraft or a trade account; invoice finance is less common on consumer contracts.
Warranty insurance and licensing
Lenders ask about the builder's licence, home warranty insurance and open contracts; a steady pipeline letter from the pool manufacturer supports both the machinery and the home loan.
Worth knowing before applying
A disputed job shows in the return and is explained with a letter; plant on the business stays off the home loan assessment; and lodged, consistent returns are the single biggest help.
The tools that fit
- Chattel mortgage calculator
- Business and asset finance
- Borrowing capacity calculator
- Working capital and overdraft calculator
- Equipment finance calculator
- What lenders ask for: checklists
Not sure whether the business needs an overdraft, or how big: the working capital calculator works it out from sales, payment terms and stock, with presets for a typical business like yours.
Policies on all of the above differ lender to lender and change without notice; the value of the conversation is knowing which lender's policy reads your payslip best on the day. Understanding how your income is read before you apply is what makes the application calm.