All businesses need equipment. For some, this means little more than a few computers and printers. For other companies, equipment equals heavy machinery, and while it’s often a necessary purchase for the functionality of the business, it’s important to think about the impact it’ll have on the company’s finances. The good news is that there’s more than one way to buy equipment for your business. For most companies, it comes down to a question of whether to buy new or used equipment. There are advantages and disadvantages to both. We’ll take a look at the pros and cons of each in this blog. Buying New Most businesses automatically look at buying new equipment. This is partly because they don’t think there’s any other option. So what are the advantages and disadvantages of buying new equipment? Let’s take a look. Pros The most obvious advantage is that you’ll know that you’ll be the first to use the equipment. That means that it’ll be in the same condition — and just as shiny — as when it left the factory. Buying new is also the best option if you need a niche piece of equipment quickly. Indeed, if there are no second-hand… [Read More]
Benefits of Using a Broker to get Equipment Finance
It’s not easy running a business, and it’s not always cheap, either. Depending on what industry you’re in, you may find that you need advanced and specialist equipment, which could leave a deep hole in your finances — and damage your cash flow — if you bought it outright with your company’s money. Thankfully, there’s another way to fund your expensive purchases. It’s called equipment finance. With this, you’ll get the money you need to fund the purchase or loan of the equipment you need. You’ll then pay the money back over a set period of time. While it’s possible to go through the process of acquiring equipment finance yourself, you don’t have to. And in many cases, it’s better if you don’t. A broker can help in more ways than you might think. This article will run through some of the key benefits of using a broker to get equipment finance. Expert Skills It never hurts to have expertise on your side. When you work with a specialist broker, you’ll have peace of mind that you’re working with someone who has the experience and in-depth knowledge of the equipment finance process. They’ll take the time to understand your situation,… [Read More]
Buying New Equipment – Get Finance or Buy Outright?
Every company will have to spend money on equipment at some point or another. And even if you can find a great deal, it’s likely that this equipment will have an impact on your company’s finances. That’s why it’s important to think about how you’re going to finance your equipment purchases. While there are many options available, for most businesses, it’ll come down to paying for the equipment outright with cash or using equipment finance. In this blog, we’ll run through some of the advantages of equipment finance. Don’t Get Left Behind. It doesn’t matter what industry you’re in: you need to be competitive. If you’re not, then you’ll run the risk of being left behind. With equipment finance, companies that may not have the cash flow to fund the purchase of the latest equipment outright can get access to the latest equipment. If you lease the equipment, then you’ll be able to update to the latest machines once the lease is up without negatively impacting your finances. Protect Your Cash Flow Even companies that could afford to purchase their equipment outright typically find that it’s better to use finance for the purchase. Why? Because if the equipment is expensive,… [Read More]
Types of Business Financing
Companies of all sizes often need a little bit of financial help to fuel their growth and development. Even if profits are, on paper, looking pretty healthy, that doesn’t necessarily mean that the business will be financially secure. There’s a whole bunch of reasons why a company’s cash flow may not be as healthy as it could be, including having clients who are slow to pay their invoices and unexpected costs. The good news for companies is that they don’t need to stay in a precarious financial situation. There are business finance options available, the two main ones being debt finance and equity finance. In this blog, we’ll run through the pros and cons of each. Debt Finance Debt Finance is just what it sounds like: the company takes on debt that is repaid with interest over a predetermined period of time. There are multiple different debt finance options available, as we’ll see below. But before they do that, let’s think about the pros and cons of this type of funding. The key advantage is that it allows you to stay in full control of your business; you can get the cash without having to give away a stake in… [Read More]
Used Equipment Loans
If you’re keen to save money by buying used equipment instead of brand new, then we’d definitely encourage you to take advantage of our used equipment loans. They are fast and effective – and in the best cases, they could save you hundreds (if not thousands) of dollars in the grand scheme of things. Now, you might be wondering how these loans work and why they are different than regular equipment financing options. If this sounds like you, then read on! What is a used equipment loan? These loans relate to the purchase of any type of equipment that could be deemed second-hand, and thousands of businesses rely on these types of products every year. In this case we’re talking about heavy machinery, gym equipment, office accessories and everything in between. There can be a huge appeal to being able to save money, especially if you don’t mind taking advantage of used accessories and equipment that still offers all of the functions of a new product. So, why doesn’t everyone take advantage of these types of loans? Not everyone is happy to put second-hand equipment to use within their business. We’re not entirely sure why, as the majority of used… [Read More]
Medical Equipment Loan
Whether you’re a practicing doctor or surgeon, or if you are planning on opening your own clinic, then you might be thinking about a suitable means to buy the equipment that you could do with to offer your services. At Equipment Loans Online we prefer to be as transparent as possible – and that’s why we’ll tell you that you actually have a few options at your disposal. First of all, you could invest your own capital into buying the equipment that you need. Sure, you might need to save up for months (or years), but the equipment will be entirely yours once you do pirchase it. But then again, who has tens of thousands of dollars to cover the costs of the types of medical equipment and accessories that your clinic will need to rely on to function? You could always turn to private investors, but how many times have we heard about these deals going sour? Personally we prefer the third option, which just so happens to be the one that we specialise in – and that’s taking out medical equipment loans. Now you might be wondering how these financing options work and if they are really a… [Read More]
Dental Equipment Financing
Let’s imagine for a moment that you’re a fully licensed dental surgeon with years of experience under your belt and that you’ve just decided to open up your very own private clinic. You’ll likely be looking into either renting or buying a suitable location – you might even have gone as far as to take measurements of the room to ensure that it can fit all of your equipment and accessories. But what about covering the cost of these accessories? Do you have tens of thousands set aside to pay for things like your medical chairs, your desks, counters, tools and everything in between? We’re not joking when we say that you’ll probably need to prepare yourself to pay thousands of dollars to ensure that you have the right equipment and if you don’t, you might find your patients going elsewhere for their services. How can we help? You might be wondering what it is that we can do to help. At Equipment Loans Online, we specialise in helping our clients with three things: the first is to source the most suitable dental equipment, the second is to connect you with the most flexible, affordable loans and the third is… [Read More]
Do I Finance Or Lease When Buying Equipment For My Business?
Is there any better feeling in the world than knowing that you own something outright? From a home to a car – being able to say that you own the possession in its entirety can be very reassuring, but unfortunately we’re not all in a position to buy equipment at the drop of a hat. Assets cost money and when it comes to equipping your business with the tools and resources that it needs to function; you could well be looking at tens of thousands of dollars to buy what you need. So do I finance or lease? Thankfully, there are two solutions that can help those without the financial support to cover equipment costs; without needing to fork out the cash up front. They are commonly referred to as leasing and financing – and although similar in nature, each option carries its own set of advantages. So, Do You Finance Or Lease Business Equipment Purchases? First lets define the 2 options… What is Equipment Leasing? In the simplest terms, leasing is the act of ‘hiring’ equipment, machinery and products without actually having to own them. You could approach a supplier and ask to use their facilities, under the condition… [Read More]
Industrial Equipment Financing
If you work within the industrial sector, then the chances are that you’re playing a major role in the development of major cities and services. Whether you run your own construction company, or if you manage a busy factory, could you do with a fresh influx of cash to cover the cost of your new equipment? Industry equipment financing From the smallest boilers right through to the largest cranes, if your services aren’t properly equipped you could soon find your profits suffering as a result. What’s the one thing that can be said about heavy machinery and industrial equipment? It can be pretty darn expensive. Here at Equipment Loans Online we understand this more than most; that’s why we’d like to introduce you to our world-class equipment finance services. Now we might not offer cash, but boy do we work with those that do! Over the years, we’ve developed some of the most effective working relationships with several of Australia’s best lending agencies. Our expert brokers are able to negotiate terms, compare rates and correspond with lenders on behalf of our clients – all so that you can relax while we find the best loan for your needs. We get… [Read More]
Restaurant Equipment Financing
Are you currently in charge of a busy restaurant? Maybe you’re the head chef and you’d like to upgrade the equipment in your kitchen? Perhaps you’re just about to open your very own eatery, but you don’t quite have the financial backing to get the ball rolling? If any of the above sounds like you (or if you could just do with a little financial support), then you could stand to benefit from taking out a financial loan! Why choose a loan? There’s no denying that accessories and equipment can be incredibly expensive. Not only can these features be expensive – they are often a necessary part of running a successful restaurant. You want success, right? Then why lose out because you can’t afford to buy what you need outright? Have you ever considered the potential of taking out restaurant equipment financing? At Equipment Loans Online, we hate grouping the needs of our clients into one category; that’s why we separate each of our services for your convenience. Sourcing financing for restaurant equipment, machinery and accessories is something that we specialise in. How does financing work? It’s easy – you get in touch with our friendly and professional team of… [Read More]