If you’re in the market for a loan, it’s important to do your research before making a decision. With so many lenders out there, it can be hard to know who to trust. One lender that you may have come across is Crane Finance, but what are their loans like? In this article, we’ll take an in-depth look at Crane Finance loan reviews to help you make an informed decision.
Who is Crane Finance?
Before we get into the specifics of their loans, let’s talk about who Crane Finance actually is. They are a specialist business finance provider based in Australia. Their focus is on assisting small and medium businesses with their financing needs.
Crane Finance has been around since 2008 and offers a range of finance solutions, including equipment finance and invoice financing. They pride themselves on being able to provide quick turnaround times and easily accessible funds for their clients.
What types of loans does Crane Finance offer?
As mentioned, Crane Finance offers two main types of loans: equipment finance and invoice financing. Let’s take a closer look at each of these options.
Equipment finance is designed to help businesses purchase new or used machinery or equipment. This may include things like vehicles, construction equipment, manufacturing machinery or office equipment. The amount that can be borrowed will depend on the value of the item being purchased.
One advantage of getting an equipment loan through Crane Finance is that they offer flexible repayment terms tailored specifically to your business needs. Additionally, they claim that approvals can be obtained within just 24 hours – perfect for when you need access to cash quickly.
Invoice financing allows businesses to free up cash by using unpaid invoices as collateral against a loan. Essentially, this means you’ll receive an advance on your outstanding invoices before they’ve been paid by your customers.
This option can be particularly useful for businesses with long payment terms, as it provides a way to unlock cash flow without having to wait for invoices to be paid. The amount that can be borrowed is usually a percentage of the total value of the outstanding invoices.
Crane Finance claims that their invoice financing option can provide up to 80% of the invoice value within just 24 hours. This, combined with their flexible repayment terms, makes this an attractive option for many businesses.
What are customers saying about Crane Finance?
Of course, before making a decision about whether or not to use Crane Finance, it’s important to look at what past and current customers have to say. Let’s take a look at some reviews from around the internet:
ProductReview.com.au: On this site, Crane Finance has an average rating of 4.7 out of 5 stars based on over 50 reviews. Many reviewers praise the company for being responsive, helpful and going "above and beyond" for their clients.
Google: On Google Reviews, Crane Finance has an average rating of 4.8 out of 5 stars based on over 25 reviews. Again, many reviewers highlight the flexibility and responsiveness of the company as key strengths.
TrustPilot: Over on TrustPilot, Crane Finance has an impressive rating of 4.9 out of 5 stars based on almost 200 reviews. Customers describe them as "friendly", "efficient", and praise them for providing "great service".
Overall, it seems that most customers have had positive experiences with Crane Finance. Of course, it’s always worth doing your own due diligence before committing to any lender – but these reviews suggest that they could be a good option if you’re looking for business finance.
Are there any downsides to using Crane Finance?
While many customer reviews suggest that Crane Finance is a reliable and efficient lender, there are a few potential downsides you should be aware of. These include:
Higher interest rates: Some customers have noted that the interest rates offered by Crane Finance are higher than some other lenders. This is something to keep in mind if you’re particularly focused on finding a low-interest loan.
Strict lending criteria: As with most lenders, Crane Finance does have certain eligibility criteria that you’ll need to meet in order to be approved for a loan. If your business doesn’t meet these requirements, you may not be able to borrow from them.
Limited loan types: While equipment finance and invoice financing can be helpful for many businesses, they may not suit everyone’s needs. If you’re looking for other types of loans (e.g. a line of credit or term loan), you may need to look elsewhere.
If you’re looking for reliable business finance options, it seems that Crane Finance could be a good choice based on their customer reviews. They offer flexible repayment terms and quick turnaround times, making them an attractive option for small and medium businesses.
However, as with any lender, it’s important to do your own research and ensure that the loans they offer are suitable for your specific needs. Additionally, it’s always worth comparing multiple lenders before making a final decision – this will give you the best chance of finding the most favourable terms possible.
So if you’re considering applying for an equipment loan or invoice financing from Crane Finance, make sure to read through their full terms and conditions carefully before proceeding.
What is Crane Finance Loan?
Crane Finance Loan is a lending service that provides loans to individuals and businesses in need of financial assistance.
How do I apply for a loan through Crane Finance Loan?
To apply for a loan through Crane Finance Loan, you will need to visit their website and fill out an online application. You will be required to provide personal and financial information, as well as submit any necessary documentation.
Are the interest rates competitive?
Yes, Crane Finance Loan offers competitive interest rates to their customers. Their rates are based on different factors such as credit score, loan amount and purpose of the loan.
Is it easy to get approved for a loan through Crane Finance Loan?
The approval process for a loan through Crane Finance Loan varies depending on your credit history, income and other factors. However, they claim to have high approval rates for their loans.
What types of loans does Crane Finance Loan offer?
Crane Finance Loan offers various types of loans including personal loans, business loans, debt consolidation loans and home improvement loans.
How long does it take for the funds to be disbursed?
The time it takes for the funds to be disbursed depends on various factors such as time taken for verification of documents and electronic transfer processes but typically occurs within 2-3 business days after being approved.
Can I pay off my loan early without penalties?
Yes, you can pay off your loan early without any penalties or fees charged by crane finance which actually helps save money by paying less interest over time if you choose this option!
Are there any hidden fees or charges?
Crane Finance is transparent about all costs involved in their loans, so you won’t be surprised by any additional fees or charges. All the information related to one-time processing fee, interest rates, late-payment fees, etc. are made clear before signing on for the loan.
How reliable is Crane Finance as a lender?
With years of experience in the lending industry and overwhelmingly positive reviews from existing customers, Crane Finance can be seen as a reliable choice for those looking for financial help in time of need. Just make sure to read through all conditions carefully before finalizing a loan agreement!