What is Machinery Finance? Machinery finance is the act of borrowing money from a lender, in order to purchase an otherwise unaffordable piece of equipment. This equipment could be a vehicle (for example a tractor or a forklift), or it could be a set of accessories for an office. Unlike leasing, which is the technical term used in Australia for renting machinery until it’s either paid off or no longer required, a machinery loan will allow the borrower to receive money from their lender and then pay back what is owed over time while having ownership of the machinery. A number of banks and other financial institutions offer this lending possibility, though there is a range of equipment finance options borrowers can choose from. Choosing the right approach for your business will depend on a range of factors including your financial situation, taxation needs and budget. We would recommend discussing this with your accountant or financial adviser before deciding on which approach you take. How Does Machinery Financing Work? Machinery finance gives you access to whatever important equipment you need without having to pay for it upfront. Instead, you can receive the funds you need from a bank or lender … Continue reading Machinery Finance