When it comes to taking out loans for machinery you’ll probably be feeling confused, a little anxious and particularly unsure of how to get the best deal for your needs. At Equipment Loans Online, we learn’t the hard way just how long it can take to cover the costs of equipment and machinery. This first-hand experience is actually what led to us offering our extensive loan brokering services to our clients – and we’ve gone from strength to strength since then. Whether you work in construction, maintenance, or transportation the chances are that you will already have a great level of understanding about how convenient and beneficial machinery can be – but being able to afford them is another thing entirely. Where do we come in? At ELO, you can consider us your specialists in all things finance related. Our team are all fully licensed in the field of brokering and as we work with plenty of Australia’s leading lending companies, we can make your next loan as easy as driving a forklift. We strive to make things as easy as possible for you; that’s why so many of our clients consider us the complete package. Need a loan of… [Read More]
Any time that you run any business, you will need to be sure that you have the ideal equipment to get the job done. This is particularly important if you need your business to operate properly for you on a regular basis without having to disappoint your customers due to malfunction or faultiness of your equipment. What you need to do is make sure that you’re able to get your hands on the highest quality equipment for the job. With this in mind, you owe it to yourself to seek financial opportunities to pay for your equipment. With this in mind, you should read on to learn a few ideas that will help you know how you may best finance your construction equipment on competitive terms. Things To Consider When You Compare Equipment Finance So what are some of the most important matters you should consider when it comes to seeking finance your equipment? There are some things that will come into play, including these guidelines below: #1: Interest Rate Without question, the interest rate that you pay for your financing will play a major role. You need to be concerned about more than just a lump sum of money… [Read More]
According to research by the Commonwealth Bank, Australian small businesses are keen to invest in new Machinery and Equipment. But have less interest in upgrading their Technology. See iTWires article. It is only a couple of weeks to the end of the financial year and the Tax Office still have the 100% tax deduction in place for small business. However they have moved the maximum turnover allowed to $10 million dollars, opening up this opportunity to so many more businesses. So if you have machinery or equipment that is less than $20,000, now is the time to buy. You will receive your 100% tax deduction. There is no guarantee this will be around for the following tax year. So give us a ring and we can go through financing options with you.
It appears that businesses are starting to pull in the reigns on funding their growth through borrowing. This means that they are either not looking at growth opportunities in the near future or they are funding them out of their own resources. A recent article in Sky News reported that Veda says that asset finance eased to 3.3% and trade credit fell by 1.7%. If businesses are choosing not to take up growth opportunities then I believe we will start to see a slowing in the economy
When it comes to major capital purchases, it can be difficult to decide whether you should buy or finance the equipment your business needs. Both options make commercial sense in certain circumstances. For a small business that is just getting off the ground, financing equipment is a good idea. Leasing equipment does not require you to have a lot of cash up front, and it will allow you to keep costs down – plus it means that you can always return the equipment and take out a new lease at a later date. It’s easy to upgrade equipment when you need to. Financing on a lease-to-buy works well too, for equipment that has a long useful life. Plant and machinery that will last for a decade or more if well maintained can be bought by spreading the cost over many years. The downside of this kind of finance is that in the long run you will end up paying more for the equipment – and it is not yours until you have paid the cost off. In addition, the tax situation for equipment bought in this way is not always as favourable as the tax treatment for capital purchases made… [Read More]
Starting your own business may require a lot of capital. This is especially true if your business is going to be centered on “the real world” as opposed to the digital. Even then, starting up a digital business may have quite a bit of capital invested as well. Anything that requires a hefty amount of equipment is going to drain on your resources for a while. So what do you do when your own funds and those you may get from others don’t stretch far enough to give you all the equipment you need to start off on your best foot? Equipment financing is available to those who qualify. For example, starting up a construction company is going to require a lot of equipment. You can’t start with the bare minimum. If you do, you’re not going to give the best image to potential clients. Without those clients, you’re going to struggle a lot at the beginning of your career. This is why we want to spend today talking to you about equipment financing. The Two Types Of Equipment Financing Almost anyone, from a baker to a dog groomer, is going to need equipment to start their business. Even online… [Read More]
These days you need a lot of money to start almost any business, especially if you have overheads. Very few people can open the doors to a corner store without the aid of a business loan. However, the first thing you’ll notice when researching such loans is that they may be very difficult to get. There are a lot of reasons for this. The major one, however, is that first tier lenders are a lot less willing to take the chance on and invest in neighborhood businesses. The latest slump in the economy and bottoming out of a lot of real estate means that lenders have a lot to lose – and fast. When you look at the fact that many businesses end up going belly-up after only two years of being open, then you may understand why lenders are hard on people applying for business loans. If you’re thinking about going this route, know that there are things you may do to up your chances of qualifying and getting that loan. We’re going to take a look below at the tips you need to get the money for your new business. Bring Your Own Capital Of course, you’re applying… [Read More]
Every business needs equipment for it to fulfill its duties and perform its tasks. However, business equipment can be costly and often most businesses do not have large sums of money lying around. In order for such businesses to operate and fulfill their obligations, they will need to find a good and reliable financing option that will make the money required available. And that is where equipment financing comes into the picture. Equipment financing is the term used to describe the process through which a creditor or investor extends capital to a business for the purpose of buying or acquiring equipment needed for the business to operate. Often, it is the financed equipment that will serve as collateral. As such, equipment financing approval is often faster and more convenient compared to other types of financing. Now, there are basically two types of equipment financing. These are: Equipment loans: This is where the business is given a loan for the specific purpose of purchasing equipment it requires. Equipment leasing: Under this option, the business rents the equipment for a specified period of time instead of owning it. Once the term is over, the option of either purchase the equipment at a… [Read More]
Welcome to the website of Equipment Finance Online, the place to come for all your equipment finance, truck finance and various asset purchases. Give us a call on 03 9021 3731 or fill in our online application form by clicking here Stay in touch as we will be adding the latest finance news to this section.