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Let’s face it… no finance broker is an island

aggregator finance worker sitting on iceberg

It is true, we are a pretty independent bunch. The very nature of our industry forces us to be this way.

But it doesn’t matter how independent or resilient you are, sometimes things can become a bit much and you just need a shoulder to lean on. Someone who understands, and even better, someone who can help.

Over the past year, we have all gained a far better sense of self than ever before, and we have learned that it is OK to be vulnerable and to seek support from our community.

Imagine a community of finance brokers coming together for this reason. Supporting one another through tough times, and celebrating each other through good times. Who are genuinely interested and concerned for their fellow broker. Why? Because that is just who they are.

From the moment you join Purple Circle, you can feel the sense of community… It comes in the form of a welcome phone call from a fellow broker in your area, a small gift just because you chose us, a genuine interest in you and your well-being.

Our brokers are the cornerstone of everything we do. Every decision we make. We take counsel from our brokers and then reward them with shares.

Australia’s reigning best Boutique broking group was independently awarded that title for a reason. A part of which lies in our culture. Our belief system. Our drivers. All of which will become yours too, when you join us.

Small and Medium Enterprises (SME) Guarantee Scheme

The Scheme will enhance lenders’ willingness and ability to provide credit and will be available for new loans made by participating lenders until 30 September 2020.

The Government will provide eligible lenders with a guarantee of 50% per cent of new loans. Some generic terms are:

  • Businesses with a turnover of up to $50 million.

  • Maximum total size of loans of $250,000 per borrower.

  • Loans will be up to three years, with an initial six month repayment holiday.

  • Unsecured finance, meaning that borrowers will not have to provide an asset as security for the loan.

Reduced Interest Rates

Consider your current banking arrangements. The Reserve Bank has recently reduce the cash rate and lenders have passed this on to various loans they have.

Instant Asset Write Off

An increase in the instant asset write-off threshold from $30,000 to $150,000 30 June 2020.

Deferment of Loan Repayments for up to 6 Months

The banks are developing their own approach as to how to deal with requests from their clients for repayment holidays. Some are automatically granting the request, others are assessing the requests individually.