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EQUIPMENT FINANCE INTEREST RATES

Equipment finance is a funding solution that allows businesses to acquire necessary equipment without paying the full cost upfront. The finance company purchases the equipment on your behalf, and you repay the amount plus interest over an agreed term. At the end of the term, depending on the agreement, you may own the equipment outright or have options to upgrade.

A wide range of business equipment can typically be financed, including machinery, vehicles, IT hardware, office equipment, medical equipment, and more. The specific types of equipment eligible for finance may vary depending on the lender and your business industry.

Equipment finance terms can range from 1 to 7 years, depending on the type of equipment, its expected useful life, and your business needs. Longer terms may be available for certain types of heavy machinery or high-value equipment.

Equipment finance can help preserve working capital, potentially offer tax benefits, and allow for the acquisition of necessary equipment without a large upfront cost. It can also help in managing cash flow through structured repayments and may allow for equipment upgrades as technology advances.

Equipment finance is specifically tied to the purchase of equipment, with the equipment often serving as collateral for the loan. This can sometimes result in more favourable terms compared to unsecured business loans. Additionally, equipment finance is often more flexible in terms of structuring repayments to align with your business’s cash flow.

Yes, most equipment finance solutions can be used for both new and used equipment, subject to the lender’s policies and the age and condition of the equipment.

Equipment finance can have tax implications, such as potential deductions for interest payments and depreciation. However, tax treatment can vary based on the financial structure and your business circumstances. We recommend consulting with a tax professional for advice specific to your situation.

Equipment finance might be suitable if your business needs to acquire or upgrade equipment but wants to preserve cash flow. Factors to consider include your business’s financial situation, equipment needs, and long-term goals. Our brokers can help assess your specific circumstances and recommend suitable options.

As your equipment finance broker, we offer access to multiple lenders and tailored solutions. Our expertise saves you time and effort, in navigating options to match your specific business needs. We provide personalised guidance throughout the process, from application to ongoing support, ensuring you find the right equipment finance solution for your company’s growth.