What Is Equipment Finance?
Equipment finance is designed to help businesses acquire essential machinery, tools or equipment without the burden of upfront costs. Here at Your Advisor Group on the Gold Coast, our goal is to help you understand the various types of equipment loans and to find you a loan that meets your specific business needs and financial circumstances.
Businesses ranging from startups to established entities can use equipment finance to obtain the necessary equipment they need to deliver optimal services and products. Navigating through the various types of equipment loans, understanding their distinct structures and aligning them with specific business needs is crucial for maximising benefits and ensuring sustainable debt management. For more information about equipment finance, get in touch with our friendly
finance brokers today.
Equipment Finance Types & Features
Secured Loans
A secured equipment loan is where the asset is used to secure the loan. The company takes ownership of the asset, however the lender takes it as collateral until the loan is paid in full. This loan typically has lower interest rates due to lower risk for the lender.
Unsecured Loans
With an unsecured equipment loan, the company will not have to provide the asset as collateral. The loan approval will be based on your credit score and will generally have higher interest rates.
Fixed Rate Loans
For the duration of your equipment loan, your interest rate and repayments will remain the same. This means the amount you have to repay will not fluctuate with interest rate rises.
The Advantages of Equipment Finance
Securing equipment finance can provide the opportunity to significantly improve and grow a business’s operation without the burden of major upfront costs. One major advantage of an equipment loan is the preservation of cash flow, enabling businesses to retain crucial working capital for other operational and emergency uses. Equipment finance can also allow businesses access to the latest technology and machinery, ensuring they remain competitive and technologically relevant.
Businesses can also leverage potential tax benefits such as deductions on interest payments and depreciation. We’ll work hard to find you the most suitable equipment finance for your unique needs and ensure you understand the process every step of the way.
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Your Advisor Group Pty Ltd ACN 631535236 is authorised under LMG Broker Services Pty Ltd ACN 632 405 504 Australian Credit Licence 517192
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The information provided on this site is on the understanding that it is for illustrative and discussion purposes only. Whilst all care and attention is taken in its preparation any party seeking to rely on its content or otherwise should make their own enquiries and research to ensure its relevance to your specific personal and business requirements and circumstances. Terms, conditions, fees and charges may apply. Normal lending criteria apply. Rates subject to change. Approved applicants only.
1There may be occasions where you may be charged a fee by your broker.
2Your broker is able to assess each lender's approval times and identify those that can provide approval quickly, however this is subject to change and can vary significantly based on how complex is your loan application and how quickly you’re able to provide the information we need.
3Not all lenders are available to all brokers. The exact details of the lenders your broker has access to is disclosed within the Credit Guide your broker gives to you when providing credit assistance or is available upon request.
