Equipment Finance
Equipment Finance to Help Your Business Grow.
At Finance Brokers Tasmania, we understand that acquiring equipment is crucial for the success and growth of your business.
Don't put a strain on your cash flow!
As a business owner, you understand the importance of keeping your business competitive. However, your business may not have the cash flow to consider purchasing or updating the equipment your business needs to be a success. At Finance Brokers Tasmania, we have been helping Tasmania business owners find fast, cost-effective ways to finance their equipment needs for over 37 years.
Why choose Equipment Finance?
Equipment finance offers business owners numerous benefits:
- Preserve your Capital: Don't tie up your cash-flow in depreciating assets. Equipment finance allows you to keep your capital for essential business expenses such as inventory, expansion and marketing.
- Tax Benefits: You may be able to claim a tax deduction on the interest portion of your repayments. Make sure you run this by your accountant to ensure you are eligible.
- Flexibility: We can help you tailor a solution to help you meet your business needs. From a large panel of lenders, we can find flexible terms and repayment options to align with your cash flow and budget requirements.
- Stay Updated and Competitive: As a business owner, you will understand how quickly technology and equipment evolves. With available finance options, you can update to the latest equipment at the end of the term, ensuring your business remains competitive.
What types of equipment can I finance?
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Cars, trucks, and other heavy vehicles
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Heavy machinery needed for agriculture, farming, manufacturing, and construction.
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Scientific, medical and healthcare equipment
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Technology
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Office Fit outs & Equipment
What types of Equipment Finance Are Available?
Our panel of lenders have a range of commercial finance options available when it comes to equipment finance. Here is a rundown of the main finance options available:
Leasing
If you need to update your equipment regularly, a lease may be the right solution. You rent the equipment you need for a fixed period with the option to upgrade or return the equipment at the end of the term.
It is important to remember than when you are leasing, ownership of the equipment doesn't transfer to you. This means there may be restrictions on the way you can treat the equipment. If you do not meet these restrictions, you may face a monetary penalty.
Chattel Mortgage
If you are an established business with over two years trading, you can purchase equipment via a secured loan known as a chattel mortgage. Similar to a regular home loan, rather than property, the equipment is used as the security for the loan. A chattel mortgage allows you to spread the cost of the equipment over a fixed term while enjoying the benefits of ownership.
Terms and repayments of a chattel mortgage are flexible. This includes the option of making lower repayments and paying a balloon or residual payment at the end of the term. Our team of experienced finance brokers can talk you through the options to ensure the equipment loan meets your businesses cashflow requirements.
Commercial Hire Purchase
Another great way for your business to manage cashflow. You will make fixed monthly repayments over an agreed period and at the end of the term, ownership of the equipment will transfer to your business. Like a lease, it is important to remember that you don't own the equipment until the end of the term meaning that there may be limitations on how you treat the equipment.
