Eastern Loans

Eastern Loans, a credit broker with access to more than 40 lenders

Eastern Loans is a credit broker based in Brisbane (Queensland, Australia) that presents itself as an intermediary between the client and a network of more than 40 financial institutions. Its approach is to compare products from banks and specialist lenders to find the option that best suits each applicant's profile, also handling the documentary process and negotiation with the lender.

The firm operates under the legal name BAANK PTY LTD, with ABN 48636272823, and acts as a Credit Representative (555351) authorised under Australian Credit Licence 389328. It is a member of AFCA (103785) and FBAA (M-356500).

Financing lines

The service catalogue is organised into four main areas:

• Car finance: tailored loans for new or used cars, with the possibility of exploring refinance options.
• Business finance: solutions for business financing needs, with expert support at every stage.
• Cashflow lending: products aimed at managing short-term expenses or optimising working capital.
• Personal finance: strategies for day-to-day management, debt consolidation, life events and retirement planning, among other purposes.

What can be financed through asset finance

The firm explains that asset finance allows you to acquire vehicles, equipment or machinery without paying the full cost upfront, spreading payments over an agreed term that typically ranges from one to seven years. Through its panel of more than 40 lenders, it states that it can finance cars, utes, vans, trucks, trailers, earthmoving and construction machinery, agricultural equipment, medical and dental equipment, IT and office equipment, and most income-producing business assets, whether new or used and whether from a dealer, auction or private sale.

How it works

The process described by the company is structured in six steps. It begins with an initial enquiry in which the client explains what they are looking for. Then a finance professional is assigned who analyses their goals and circumstances in detail. Next, they receive a personalised selection of loan options, explained by the specialist so they can decide with knowledge of the features and benefits of each. After that, pre-approval is obtained with the final rate and repayment, and the specialist supports the client from test driving through to settlement. In the settlement phase, the final steps are coordinated so that funds are prepared, processed and paid within the required timeframe. Finally, the team stays in touch after settlement to check that everything is running smoothly.

Service conditions and applicant profile

According to the information published, getting a quote is free and with no obligation to proceed, and it does not affect your credit history: the credit check is only carried out when the client decides to go ahead and a formal application is submitted to a lender. The broker states that it is paid by the lender when the loan settles, so if the client does not proceed, they pay nothing.

Regarding timeframes, it indicates that straightforward applications can be approved the same day and usually within a maximum of 48 hours, while more complex transactions, with large amounts, specialised equipment or newly established businesses, may take several days. It also mentions that some low-documentation options may receive conditional approval more quickly.

On documentation, the firm notes that for many individuals and established businesses the requirements are minimal: depending on the lender, the asset and the amount, eligible ABN holders can use low-documentation applications, often with only identification, ABN details and basic asset information, without full financial statements. For larger or more complex loans, lenders may request recent financial statements, BAS statements or bank statements.

As for deposit, it is not always necessary: many lenders on the panel offer up to 100% finance on the asset's purchase price, and if the client prefers to contribute a deposit or a trade-in as part of the payment to reduce repayments, that can also be structured. The company adds that newly established or recently started businesses may find options among specialist lenders, although terms depend on the asset type, deposit and overall profile.

Corporate details and headquarters

Eastern Loans operates from Level 38 - 71 Eagle Street, Brisbane City, Queensland 4000, Australia. The company presents itself as an asset finance specialist and emphasises that it charges no upfront costs and that the enquiry does not affect your credit history.

Location and contact

Level 38 - 71 Eagle Street, Brisbane City Queensland 4000, Australia · Phone: 1800 189 824