Can I Get a Loan for My Equipment?
Adelaide finance broker Dom Cassisi writes about your options for financing the tools, materials and machinery you need for making your business happen.
Looking to finance some essential equipment? A great piece of equipment could help take your business to a new level.
At the very least, your business could benefit from the addition of a few more useful pieces of equipment, fast.
'Can I Get Financing For …?'
Most likely, the answer will be yes. In our experience, we’ve helped clients get finance for just about anything.
We’ve helped clients weigh up their finance options and get a loan for:
– Exercise equipment
– Earthmoving equipment
– Spa and salon equipment
– Restaurant outfitting
– Farm and agricultural equipment
– Office and IT equipment
– Commercial vehicles
– Healthcare equipment
When you look at each of these industries, you can see how the right piece of equipment could have a massive impact on a business.
How to Finance
There’s no single financing option that works for everyone.
Here’s a brief overview of your main financing options:
Lease – This is when the lender does the purchasing for you and then leases it the vehicle or equipment to you.
Hire – The lender owns the equipment or vehicle and you make payments on it until you ultimately own it.
Chattel Mortgage – You’ll own the asset (like a vehicle) outright, but it becomes the security towards your loan.
To find out which avenue of financing is right for you, it is important to seek advice. Work with your accountant, financial planner and finance broker to understand factors such as cashflow, tax implications, business seasons, and equipment lifetime expectancy.
For help with obtaining finance for your equipment, just give us a call to set up a consultation with one of our experts.
-Dom Cassisi, Managing Director