Equipment Finance

Starting a new business or growing an existing business can be a daunting experience.

Understanding the financing of your vehicles and equipment so you are not tying up working capital is an important element to support that growth. At MyFinance Brokers you can expect us to help plan your equipment requirements, find the right structure and right lender for your business equipment finance needs, while making the process efficient and hassle-free.

Purchasing expensive equipment outright can have a significant effect on your cashflow. Financing your equipment leaves your capital and any lines of credit or overdrafts available for use in other areas. There is no need for additional security as the asset being funded is often security enough. This ensures you are using your assets more wisely.

The financial risk of making large capital purchases can be significant – financing your asset purchases can help to reduce your risk. Most often a deposit is not required for equipment finance – it’s possible to finance 100% of your equipment. Payments can be structured to take into account the projected growth of your new business, the seasonal nature of your cashflow, and more.

Equipment is normally financed at a fixed interest rate, with all payments during the term of the agreement known in advance. Having current equipment, particularly technology, is important in today’s market. In some industries it’s absolutely imperative to stay current.