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About us at NLG Leasing

30 May 2019 3:10 PM -

Who are NLG Leasing?

NLG Leasing are a specialist asset and equipment finance provider that is only available to the financial services industry (with no direct consumer channels). It enables finance professionals immediate access to an extensive panel of lenders and a wide range of products at wholesale rates, with a scalable commission/ fee structure (decided by the individual broker or accountant) to reflect the individual client relationship and circumstance.
  • Accreditation – Training on system and referral models
  • Asset Finance 101, Finance types, securable asset, benefits to client and broker
  • Understanding the submission, client conversation, quoting, submission, approval and settlement. Break down the process and understand each funnel stage to ensure smooth transactions
  • Spotting Opportunities, how to win when competing against dealers, triggers to identify opportunities and mining your database
  • Conversion, not selling on rate, closing the deal and staying on top of the transaction
  • Managing client expectations
  • WOW, learning to look for “Whole of Wallet” solutions for your client, diversifying your business and forging sustainable referral partnerships
  • Targeted marketing, utilising social media, Aggregation reporting data and mail merges
  • Commercial 101, understanding financials, business structures, having “Future thinking” conversations with small business owners and matching client needs to financial solutions. Cover asset/equipment finance, insurance premium funding, debtor finance and unsecured working capital loans
  • Consumer applications, NCCP regulations, compliance docs and their delivery timeframes
  • Speeding things up, closing the gap from scenario to settlement, getting the info you need first time around 
  • Getting selective, proactively sourcing the business you want to see, aftercare and winning repeat business

What kind of assets and loan types do you fund?

NLG Leasing provides

  • consumer and commercial lending,
  • new and used assets and
  • secured as well as unsecured finance options,
This includes motor vehicles, recreational goods (caravans, motor bikes, boats, jet skis etc), trucks and trailers, earthmoving equipment, industrial machinery, computers/ IT, hospitality goods (ovens, fridges and fryers) and much more.

NLG Leasing’s extremely diverse lender panel caters to a wide and varied number of scenarios. This includes private sales, dealer sales, sale and leaseback, capital raising, vendor programs, premium funding and debtor finance. We are committed to continuing to adapt the panel to address current and emerging market opportunities and expectations.

Who is on our panel?
We currently have 37 lenders onboard. Please contact our team to find out who those lenders are.

How do I refer applications? 

Spot and Refer –
The Spot and Refer model allows you to spot an opportunity for asset finance. All you need to do is provide us with a name and number and we do the rest finding a suitable lender and solution for your client. Additionally, we will manage the opportunity from the initial conversation through to settlement.

This allows you to both protect your clients from seeking arrangements elsewhere thus protecting your relationship and also allowing you to be able to increase your value proposition.

I recommend this model for brokers who are new to asset finance and would like to become more familiar with the process before submitting directly. Moreover, those who are busy and may not have the capacity to process the transaction themselves.

NLG Connect –
Once accredited we provide you with login details, training and support. This enables you to quote, submit applications and value assets for your clients via our online platform, NLG Connect.

Once you have submitted the application it comes through to our team who will vet the application. We will provide guidance, support and liaise with the lender to manage the transaction. NLG also manages the administrative side preparing documents to send to you ready the deal for settlement.

What income will I earn?

The income split varies depending on lodgement style. Of the total income available in a transaction (combination of commissions and broker fee) 30% of total income will be paid to one party and 70% paid to the other. The minimum that NLG Leasing will make for a transaction is $300 plus GST.
 
Spot and Refer Income split 

If you opt to use the spot and refer model the income split is 30% to the referring broker and 70% to NLG Leasing.
The commission available is based on the net amount financed and can vary from lender to lender. Our team will ask your preference in income prior to providing quotes to your clients.
 
NLG Connect Income split
If you opt to submit applications yourself via NLG Connect the income split is 70% to the referring broker and 30% to NLG Leasing. Again, the available income is based on the net amount financed varying lender to lender. Using the online quoting tool you are able to select the commission you would like to earn. We run through how to use this tool in our training webinar.

Some frequently asked questions

What is the broker/origination fee? 
Many of our lenders will also allow the option of charging an origination fee. This fee can be anywhere from $0-1100 lender dependant. Any broker fee selected, depending on if it is a full application or spot and refer will have the same split as above. Therefore, we will add the commission and broker fee together and then split that 70% and 30% depending on the submission style.

Are there any fee’s or minimum volume hurdles to overcome before I can get accredited?
There are no required level of experience or volume hurdles to become accredited with NLG Leasing. Nor is there any monthly service fee. Simply email us asking for our on boarding document and we will get in touch to provide you with system training and submission support.

How and when commission/origination fee’s are paid
For all loans that are settled within one calendar month all commissions and broker fees are paid on the 15th of the following month. At the time of on boarding we will ask for bank account details and all payments are made directly to the referring broker. 

Tip Time!

Tax benefits of asset write offs 
End of Financial year is fast approaching and for those looking to purchase assets or equipment now is Prime Time! The lead up to June 30 has many of our major vehicle suppliers wanting to close off their books on a financial high. This results in a really competitive market and aggressive discounting across the board.

For our SME clients it's the time to think about maximising expenses and reducing taxable income, not to mention taking advantage of the ATO's accelerated depreciated provisions.

This incentive allows small businesses to claim an immediate deduction for business assets costing less than $30,000, acquired and installed ready for use between 7.30 pm (AEST) 12 May 2015 and June 30 2019. For more information about this incentive please see the website here.

The increase in consumers and business owners purchasing assets results in suppliers offering great discounts. This in turn means aggressive discounting from our Financiers.

To find out more about the government initiatives to support small business in Australia visit the ATO website

Happy to help.

Just a few tips to allow you to help your clients be on the lookout for untrustworthy dealerships. If you would like more assistance in this space, please contact the NLG Leasing team on 1300 722 011 or email support@nlgleasing.com.au