At Agility Financial Services, we have assisted hundreds of Australian's with Equipment Finance to help them secure the equipment they need for their business!

We know that you’re always better off with a few tricks and tips up your sleeve to help you identify a good lender. We believe that it is best to start the conversation about borrowing money with all the information you can get your hands on!

As Equipment Finance experts, we know that no matter what industry you’re in, small and medium-sized businesses can often benefit from new equipment and machinery! However, it’s very common for business owners to put off purchasing this new equipment because of the costs involved.

High-quality equipment has the potential to automate previously manual or labour-intensive tasks, eliminate production bottlenecks, and increase your total output. Upgrading your existing equipment or financing new equipment can provide a tangible return on investment (ROI) through improved efficiency for your business.

Before financing a piece of equipment for your business, there are a few things you should:

1. Consider Your Cash flow

One of the best tips that we can give in relation to Equipment Finance is even if your business has enough cash available to buy outright the new equipment that you need, there may still be advantages of using financing. Investing a significant portion of your cash into new assets will leave you with less capital to finance your regular operations which could lead to a potentially dangerous situation with fluctuations in the economy and other unforeseen factors.

Depending on your business, we may be able to help you secure a flexible repayment option that allows you to structure your loan around any seasonal trends that impact your business. This gives you greater control over your cash flow and allows you to finance the equipment you need to grow your business.

2. Consider Your Loan Options

There are different types of loans that business owners can use to purchase or finance new equipment, including:

Secured equipment loans: these will typically allow you to finance the full purchase amount. Ownership passes to you at the time of purchase.
Hire purchase: under this arrangement, a lender buys the asset and hires it to your business for an agreed time. These are similar to standard equipment loans and typically don’t require any additional security.
Finance lease agreement: these repayments are structured to have a residual value, giving you lower monthly payments, plus options at the end of the lease period.

Each of these equipment finance options has its own advantages, disadvantages and tax implications. You may also be able to claim depreciation of the asset and other associated costs as a tax deduction. Feel free to contact us today for a free phone conversation when considering your loan options and tax implications.

3. Speak To A Finance Broker

We are reputable finance brokers that can help you with the equipment loan-application process. We have access to wide range of lenders and finance products and can advise you on the finance options that will be best suited your specific needs. By getting the help of a professional finance broker such as Agility Financial Services, we will ensure that you get a loan that works for your business. We will advocate the strengths of your financial situation to lenders on your behalf and could potentially help you get a lower interest rate.

And there you have it! Some simple tips to helping you secure the Equipment Finance that you need! Based in the Sutherland Shire, Agility Financial Services are fully equipped to handling any Equipment Finance request. With over 36+ years experience in loan servicing, there isn't much we don't know about equipment loan financing. We pride ourselves on our honest, transparent approach to all car finance enquiries and believe that differentiates us from major lenders. Feel free to Contact Us today and have an open and free discussion about getting the car finance you need.