13 terms starting with I
illion was an Australian credit reporting body, now part of Experian, whose consumer and commercial credit files still sit behind many lending decisions.
Read definitionAn independent lessor is a non-bank, non-captive finance company that owns the assets it leases and prices deals on its own underwriting appetite rather than a manufacturer's program.
Read definitionIndigenous business finance is the range of loans, grants and investment options built for Indigenous, First Nations and Aboriginal and Torres Strait Islander owned businesses.
Read definitionAn input tax credit is the GST a registered business can claim back on the price of goods and services it buys for business use.
Read definitionAn inspection is a structured check of a leased or financed asset's identity, condition and usage against the contract, done before delivery, during the term or at return.
Read definitionInstalment credit is consumer credit repaid in regular, pre-set payments of principal and interest over a fixed term, reducing the balance to zero or an agreed final amount.
Read definitionThe instant asset write-off is a tax concession that lets eligible businesses deduct the full cost of a depreciating asset in the year of first use, up to a threshold.
Read definitionInsurance is a contract where you pay a premium and an insurer covers specified losses, such as damage to a financed asset or a lender's loss on default.
Read definitionInterest is the price of using money: what a borrower pays on a loan, or a saver earns on a deposit, expressed as a percentage rate on the principal.
Read definitionInterest rate risk is the exposure a financial asset, liability or portfolio has to changes in market interest rates, which alter the present value of its future cash flows.
Read definitionInterest-free means a purchase plan or loan that charges no interest, either throughout or for a promotional period, after which any balance owing attracts the standard rate.
Read definitionInvoice discounting is a working capital facility where a lender advances most of an unpaid invoice's value and holds a reserve until your customer pays.
Read definitionInvoice fraud is a type of fraud in which criminals send fake or altered invoices, or bogus bank-detail changes, to trick a business into paying an account they control.
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