Anyone who runs a business should understand that equipment financing can be very beneficial. It is a source of funding that enables you to preserve your cash, or working capital, so it can be used for other areas of your business.
Here are a couple of pointers to consider while getting equipment financing to work.
It is worth reviewing because it shows just how equipment finance can help any business that needs to get important capital equipment sooner without having to draw on your cash for everything up front.
So, if you want to drive your business forward, and you don’t have the accessible cash flow to invest in equipment, you can obtain finance for it. You can use equipment finance to purchase new and used equipment or vehicles. It will help you in moderating your working capital for other purposes like inventory or operating expenses.
Equipment finance can be tailored to finance the purchase of earth moving equipment such as:
-Front end loaders
-Industrial plant equipment.
Choosing the Right Equipment Finance Arrangement
Mortgage Fastrack, services the Wollongong Illawarra area and it offers finance options for most types of equipment. You need to choose the right one so as to compliment your business circumstances. Here is a list of different types of equipment finance we can help you with:
Finance Lease – This financing arrangement allows you to use the material or vehicles furthermore give you a chance to appreciate the advantages of ownership, while we retain actual ownership of the goods.
Business Hire Purchase – With this financing option, the lender owns the equipment or vehicles during the hiring period and when you pay the final installment, ownership is then transferred to you.
Chattel Mortgage – It is a compelling approach to financing goods for business use. Under this loan agreement, you will get funds to purchase equipment or vehicles, and you will likewise take its ownership at the time of purchase. The purchase provides the security for the loan to the bank or lender.
Equipment Rental – It is an agreement between your bank or lender as arranged by Mortgage Fastrack whereby the lender buys the equipment or vehicles on behalf of you and rents it back to you over a fixed period.
Obtaining the Right Equipment Finance
It is vital for your business to have the right finance structure in place and to avoid such oversights you should consult the expertise of Mortgage Fastrack who has the understanding of policy frameworks and standard requirements for business equipment finance.
Help your business prosper, contact John Hartney at Mortgage Fastrack on 0412 661188 to discuss your finance requirements.