Edward Mandla
COUNCIL SPEECHES
Interest Free Art

Published On: 15/09/2014

As Councillor Mant said earlier today “Better run by the private sector rather than some stumbling government”.

Given we have no transcripts of Committee proceedings and no webcasting, I’m comfortable to share with you that I have a fairly impressive art collection and regrettably some are in storage. I’ve bought most interest free and paid the galleries over a number of years.

Had I not been able to pay over time – I wouldn’t have bought the art – small business are an important market as they can rent which they can tax deduct and convert later to ownership.

Over 10 months – most accountants would squash the system.

Flexirent does this for solar panels and Harvey Norman interest free schemes. Why haven’t we considered them?

This is a for profit organisation. Should this go out to tender?

As an investor and Board Director of companies, there are three questions I would ask any entrepreneur before I hand over $60,000.

  1. If this is such a goer, why aren’t you putting in the money yourself?
  2. What equity in your company, am I getting for my investment and how many board positions?
  3. Would you consider a debt financing – I get you the $60,000 and you pay me back?

Is this an unsolicited bid?



Edward Mandla
September 2014

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