If, like many businesses, you do not have the cash to purchase your income-generating equipment outright, but you do have sufficient cash flow, equipment finance may be just what you are looking for.
When your business needs new equipment, but you do not have the cash flow available to buy it outright you have two options: leasing or financing.
Or maybe you have enough funds available; equipment loans can still be beneficial as we all know having backup capital for a rainy day can only be a good thing.
Easy and fast equipment loans
We don’t want your business slowing down, or worse come to a complete halt due to lacking a piece of equipment. We will find the best-suited equipment loan and get you back to work as quickly and easily as possible.
What is equipment finance?
Equipment finance, or asset finance, is the provision of commercial loans to businesses for income generating assets. We provide finance for any type of commercial equipment. Our services, partnered with our knowledge and experience, will maximise your return on investment. We work with over 40 lenders to ensure that we find the most competitive and flexible equipment loan for you and your business.
Whether it is an excavator, a forklift, agricultural machinery, or any other type of yellow goods or business equipment, our team will find you the most tax-effective solution to acquire the assets you need and to make them work for your business. For starters, try out our easy-to-use equipment finance calculator to calculate your monthly repayments.
What are the benefits of equipment finance?
With a more traditional loan, lenders want to see years of financial history and a decent credit score, among other documentation. With equipment loans, on the other hand, lenders are less concerned about your credit score and financial history – especially since the equipment you are purchasing will be used to secure your loan.
Free up your working capital
If your business does not have the extra cash on hand, taking out a loan is a way of helping you get the equipment you need without having to pay some of the upfront costs of a purchase. Equipment finance also allows you to re-invest working capital into the business rather than spending it on a depreciating asset.
Equipment finance is often entirely tax deductible for small business owners. Opting for a chattel mortgage or commercial hire purchase will enable the business to claim back the GST component of the purchase price of an equipment. Depreciation on the asset and interest payments can be claimed as a tax deduction for the business (as a percentage of business use) if goods are financed through a chattel mortgage or commercial hire purchase.
Equipment finance calculator
Once you have decided on the equipment you want to finance; the next step is to size up the repayment options to choose the option that will be right for you. With equipment loans, understanding the affordability of your financing and the monthly repayments you will be taking on is one of the most important considerations.
We like to make things as simple and straightforward as possible, so we guarantee no surprise costs or unexpected payments.
We have created an equipment finance calculator to help you get started and give you an estimation equipment finance costs. Simply pop in the asset type and cost, loan term, balloon percentage and interest rate, and we will calculate your monthly repayments for you.
We have access to a wide range of equipment finance lenders which enables us to provide the most competitive and flexible solution on the market for your business needs.
Give us a call to speak to one of our friendly consultants or submit an online enquiry, and we will get back to you with all the information you need.