Equipment Finance for Business
Equipment Loans Online Provides Finance For All Your Equipment Needs
- Mining Equipment
Why Choose Equipment Loans Online
LOTS OF CHOICE
We provide equipment finance to businesses throughout Australia with a large variety of lenders to choose from.
GET A GREAT DEAL
The lenders are battling it out for your business and interest rates are at historic lows. We’ll help you find the loan deal that’s right for you.
We do all the paperwork and running around. You are free to get on with running your business
Our loan experts will meet with you at the time and place that suits you.
It costs you nothing for us to find you the very best deal for your purchase
THE RIGHT ADVICE
We have many years experience advising businesses on what would be the best deal for their circumstances.
Fast and Easy Application
Hassle Free and very fast service.apply now
Equipment or asset finance is an arrangement where a lender agrees to loan a business some money for the purposes of purchasing new equipment. The newly acquired equipment is what will be used as security for the lender’s loan. The main purpose of this arrangement is to preserve cash flow for the business. This simply means that the business does not have to redirect huge amounts of its operating capital at a go, to purchase the said equipment.
There is no doubt that such an arrangement can be extremely beneficial to a business more so if it is just starting out.
So what is the best way to obtain equipment finance for your business?
Organise your business information:
In order for a lender to approve your request for equipment financing, you must provide them with information that is indicative of your business’s performance as and when required (this is much less strict than a home loan). Be sure to double check every detail before giving it out so as to ensure that it is not erroneous in any way. This will not only increase the chances of your application being approved, but also fast track the entire process.
Mind your credit:
The ‘uglier’ your credit report is the higher of a risk you will be considered to be by lenders. Obviously, lenders are not very fond of high risk clients. You should, therefore, settle all your credit issues before handing in your application for asset financing. The same applies to tax related matters.
When a lender finances equipment purchase for your business, they are taking a risk. This, as mentioned, is because the said equipment is what will be used as security for the loan. It is, therefore, your duty as a business owner to provide the lender with the correct information about the equipment that you are looking to acquire. Some of the most important details include age, brand and specifications. The more the lender understands about the equipment they will be financing; the quicker the decision-making process will be.
If you are just starting out then obviously you are aware of just how important the likes of computers, printers are. Depending on your line of business, there are many other types of equipment that you may need in addition to the aforementioned. Asset finance enables you to acquire all or most of these without going too much trouble financially.
If your business has been around for a while then you understand the importance of operating at optimum capacity at all times. This is what buying better equipment helps you to achieve. If you are planning to expand operations in order to meet the increased demand for your products then obviously you would want to get equipment with higher production capacity. With asset finance, you can purchase what you need without having to divert operating capital from your business.
Choosing to buy better equipment as a way of expanding can also help lower costs. As a result of changes in technology, manufacturers are constantly coming up with more efficient equipment. Focus has and always will be on improving production capacity while reducing energy consumption. Undoubtedly this is something that every business owner yearns for. With new (better) equipment, therefore, you will be able to reduce energy bills consequently boosting your business’s bottom line.
Most new electronic, industrial and electric equipment are ‘green’ in nature. This is to say that they emit less harmful compounds during operation, than their older counterparts. By buying them, therefore, you will be doing your part to save the planet.
Upgrading equipment is beneficial 95% of the time. With equipment financing options readily available, there is no excuse for businesses not to go ahead with this move. If you are worried that finding the right lender for your needs will be a bit of an uphill task, worry no more. By enlisting the services of our broker, you will be able to find exactly what you need without going to too much trouble.