Equipment Loans Online: Designed For Your Business
Equipment Loans Online Provides Finance For All Your Business Loan Needs
- Mining Equipment
- Yellow Goods
- Trucks & Work Vehicles
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 COMPETITIVE DEAL
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
Liaise with our loan experts from the comfort of your home or business
We compare a number of lenders to get the right solution.
THE RIGHT ADVICE
We have the experience of advising businesses on what would be the right deal for their circumstances.
Smooth Application Process
Professional, Reliable Service.apply now
Vehicle or equipment 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 benefit of this arrangement is to preserve the cash flow of the business. In this scenario, it simply means that your business does not have to provide a large amount of operating capital to purchase your vehicle or asset.
Aside from preserving operating capital, there may be a number of tax benefits to your business. Consult your accountant to understand if this financial solution is right for you.
There is no doubt that such an arrangement can be beneficial to your business.
How can you obtain equipment finance for your business?
Organise your business information:
For a smooth application and approval process, the lender will require you to provide information about your business’s performance. Some of the documents that may be required include:
- Two years of business financials inc. profit and loss statements, tax returns and notice of assessments
- Schedule of financial commitments
- Directors Assets & Liabilities statements
Don’t have your tax returns up to date? You may be eligible to apply for a low doc loan. If this is the case you may be required to provide:
- Recent six months trading account statements
- Property ownership confirmation (Rates notice)
- Six months statements for Mortgage.
- Three months statements for personal account.
- If there is no property ownership, proof of 30% deposit for purchase.
When a lender is reviewing your application for finance, they will need to understand what it is that you are looking to finance as this will be used as collateral or security for the loan. Some of the information that you will need to provide includes:
- Type of equipment or vehicle and its specifications
- Whether the equipment/vehicle is new or used
- If used, what is the age of the equipment/vehicle
- If you are purchasing a vehicle, how many Km’s are on the clock
- Are you purchasing from a dealer or private sale
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.
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 solution that meets your business needs.