Business, Equipment & Home Finance for SMEs
Financing equipment can be a great way to get the equipment you need to stay productive and maintain your competitive edge. Increasingly, modern equipment is needed so that you can compete in what is now a global marketplace! It can also help to: Conserve precious working capital Improve your cash flow management Keep up with changing [...]
A question business owners often ask, is it better to finance equipment or pay cash? While it may appear on the surface that paying cash rather than using finance is the better option if you have the funds available, there are advantages and disadvantages to consider. Benefits of paying cash rather than Financing Equipment The [...]
A fixed interest rate protects borrowers against potential rate increases for the term the rate is fixed. This can make budgeting easier and provide greater peace of mind. However, if you want to pay off the loan early, you will incur break costs! This cost can be significant, especially if you still have a long [...]
The Personal Property Security Register (PPSR) is a powerful tool that both individuals and businesses can use to protect their interests when buying: Motor Vehicles Equipment Goods Business Assets Used Equipment/Goods Intellectual Property What is the Personal Property Securities Register? The Personal Property Securities Register is a Federal Government online platform that was launched in [...]
The Balloon Payment (or Residual) is the final payment needed to finalise an equipment or motor vehicle finance contract. Business owners and individuals often prefer to include a Balloon Payment in their finance contract to reduce their monthly repayments. Balloon Payments bear interest but are not amortised over the term of the facility They approximate [...]
If you are thinking about leasing business equipment, it is important to understand the options available. To help you make an informed decision I’ve prepared the following checklist of important issues to consider. Leasing Business Equipment - The Business Case A key motivation for leasing business equipment is often its potential to generate income or [...]
When applying for a business loan, there are steps you can take to avoid unnecessary delays and frustration. Whilst economists are painting an optimistic outlook for the Australian economy, Lenders are adopting a more cautious approach, seeking detailed information and taking longer to approve borrowings. Against this background, there are steps business owners can take [...]
Business equipment finance has evolved considerably over the past decade. A few years ago, if you were seeking equipment finance, most businesses would simply go to the Bank. Whilst the majors still have an important role to play, there are now many options available for business owners. In my experience, many are not aware of [...]
For many business owners, the equipment finance process can seem a bit overwhelming and frustrating. This has been compounded further by COVID-19. Lenders are cautious, seeking additional information, and timelines can be protracted. Equipment Finance Process – It’s Not All Bad News! However, the good news is, despite all the pessimism, there are still Lenders [...]
An issue business owners often face is whether to buy new or used equipment. On one hand used equipment can be less expensive, but it's not without risks. On the other, new equipment is generally more expensive. When weighing the options as to whether to buy new or used equipment, it is critical to look [...]
