Running your business at its best requires good equipment as well as having a good team of people. For some businesses this means acquiring expensive but necessary equipment such as machinery or vehicles. To finance these things, you will most likely need to consider equipment finance or vehicle finance.
If you have a business that relies on having up to date communications and office equipment as well as solid IT systems, equipment finance can be used for purchases such as desktop computers, laptops and notebooks, server equipment, photo copiers printers, networking equipment and data projectors.
Equipment finance for businesses that rely on heavy machinery can be for purchases such as forklifts, lifts, cranes and engineering equipment.
Vehicle finance for businesses require the vehicle to be used predominantly for business purposes. Vehicle finance can also be known as a lease or chattel mortgage and generally be set up for a term of up to seven years with flexible payment options to meet the cash flow needs of your business.
Equipment finance and vehicle finance can sometimes be made available to commercial clients without the need to provide full financials. With equipment finance the equipment is held as security leaving your business capital as it is. Vehicles must be purchased through a licensed dealership or supplier.
Vehicle finance is assessed on the age, cost and value of the motor vehicle, in some circumstances you may be required to pay a deposit. Tax deductions on your repayments may be available depending on what the item the equipment finance or vehicle finance was taken out for. Depreciation is also an area where your business might be eligible for a tax deduction.
Finance for purchasing equipment or a vehicle for your business can be a smart way to grow without having to take capital out of your business. Your investment in the infrastructure that will help grow your business can outweigh the temporary cost of taking on vehicle finance or equipment finance.
After working hard to start your business and get it going you should consider if upgrading equipment or work vehicles would improve your profitability. By financing assets you’ll avoid having to draw on your cash reserves.
We understand that businesses can have seasonal or fluctuating cash flow so we work with you to structure repayments so they can be adjusted to fit with your business.
Choosing finance as a way of growing your business can give you tax benefits while being able to take your business to a new level faster and sooner. With the option of repayments tailored to suit your business you’ll be able to better manage your day to day cash flow, overheads and expenses.
If you believe that vehicle finance or equipment finance would help your business productivity and revenues, we can help you find the right solution.
While you’re busy running your business let us take care of the complex and time consuming task of sourcing the right vehicle finance or equipment finance to help your business grow. We’ll help you secure a loan that is right for you and if required can include applicable insurance costs and finance related fees.
Nexhome Finance, Gold Coast and Brisbane, can help you grow your business by helping to find the right vehicle finance or equipment finance for you. We have over 30 lenders available which means we will be able to provide the right loan structure for your business.