Latest Industry Rates
Our team ensures that you can stay up to date with the latest industry rates.
Current Industry Index Rates:
Marine
9.18%
industry rates
Agri & Outdoor Products
8.58%
industry rates
Motorcycles & Scooters
9.18%
industry rates
RV & Caravans
8.58%
industry rates
Bicycles
10.38%
industry rates
Last Updated: 1 March 2024, 5 pm AEST
Benchmark Rates:
ASX Benchmarks serve as the core of Australia’s interest rate landscape, providing credibility, openness, and precision to the decision-making process.
BBSW
4.3400%
> 90 days
BKBM
5.6800%
> 90 days
Last Updated: 15 January 2024
Last Updated: 2 April 2024, 2 pm AEST
MitchCap's floorplan finance key features
We’re here to optimise your inventory, improve cash flow, and drive sales growth. Contact us today to explore how we can support your business success.
1. 100% Advance on Equipment Inventory
100% Advance on Equipment Inventory: Our floorplan finance offers the advantage of receiving 100% advance on your equipment inventory.
2. Two-year Term per Equipment Inventory
2-Year Term per Equipment Inventory: With our floorplan finance solution, you can enjoy a flexible 2-year term for each equipment inventory.
3. Market-Leading Credit Capacity
Market-Leading Credit Capacity: We take pride in our market-leading credit capacity, which means that we have the financial strength and resources to support your equipment financing requirements.
4. Funding Equipment Held for Sale or Rent
Our floorplan finance extends beyond supporting equipment held for sale; it also covers equipment held for rent.
5. Cross-Border Factory Payments
In today's globalised economy, cross-border transactions are becoming increasingly common.
6. OEM-Backed Approved Distributor Programs
We offer a range of OEM-backed approved distributor programs, which are the most extensive in the market for Marine, RV, Motorbike, Bicycle, and Agri machinery industries.
7. Servicing Australia and New Zealand Wide
We are proud to serve clients throughout Australia and New Zealand
Our floorplan finance solution is available across both countries, ensuring that businesses in various industries can access our services and capitalize on the opportunities available in these markets.
How Floorplan Works
- The Dealer orders equipment for sale, marketing, rental, or demonstration to grow sales.
- The Distributor gets a commitment to pay from MitchCap on invoice/delivery (optional).
- The Distributor ships the product to the Dealer, the invoice is paid by MitchCap at 100% of Value. This can include taxes and freight. .
- The Dealer holds the stock for sale, marketing, rental, and demonstration for up to 2 years.
- The Dealer sells the stock to the End User (can be financed by MitchMarket Finance).
- The Dealer keeps the margin on sale as gross profit, and remits the wholesale purchase cost to MitchCap to pay off the floorplan outstanding.
