We provide equipment financing services to help businesses secure the necessary tools to improve their services, expand their operations, and can generate more profits. Getting your business up and running during a financial crisis like the one caused by this pandemic is a challenging one. Still, it is essential, that is why we provide equipment financing services that link community members with lenders and equipment dealers so they can secure the best deal possible for the necessary tools.
The advantages of equipment financing are numerous, but they can be summed up in one point – giving you accessibility to capital even when you need it most. This is our sole reason for providing this service, to provide community members with the opportunity to achieve their economic and business goals even when they don’t have the resources at hand to do it. Many of us have faced situations where we need a piece of equipment urgently to sustain our business, but due to lack of capital, we are unable to get the equipment. This has caused many businesses to flounder in the past. We recognise the significance of businesses, both small and medium scale enterprises to the economic growth of any community, so we provide services that allow businesses to stay competitive no matter the prevailing financial conditions.
A core part of our equipment financing services is truck loans for those wishing to start the trucking business. Trucks do not come cheap, and only a few people can buy with cash without feeling the pinch in their pockets. To ensure your financial stability and also help you achieve the economic freedom you look forward to when you decide to start a business, we provide low-interest truck loans for the acquisition of different types of trucks.
When Do You Need Equipment Finance?
Equipment financing can be used in any of the following instances
- When starting a business: One of the major factors that discourage potential business owners is the cost of getting the necessary equipment for the business. After obtaining the skills needed for the business either formally or informally, finding the sizable capital for getting the business premises and fully equipping it usually look a lot of work. For instance, after a dentist has spent years and hundreds of thousand learning the skill, he is usually burdened with student loans and cannot afford all the dental equipment needed for practice, so he ends up working for someone else even if that is not his goal. Tasmania Together provides potential business owners with equipment financing that will cover all the essential equipment needed to start the business.
- Upgrade: The world is dynamic, and so is technology. With developments in technology comes better equipment. For any business to stay relevant and competitive, there is a need to update the equipment continuously. If that is not done, sooner or later, the quality of service will drop, and even loyal customers will jump ship. The failure to innovate and incorporate new technologies into a business will mean the doom of that business in the long run. For instance, many businesses are integrating the internet into their service delivery; any business that fails to do this will find it difficult to compete and stay relevant.
- Expansion: Equipment financing can also be used when a business is seeking to expand. An expansion, whether into another location or within the same place, means there will be a higher demand for services and to cope with that increase in demand, you will more and better equipment.
Who Can Get Equipment Financing
We have lenders who offer equipment financing in various industries. Therefore, you can get equipment financing regardless of which industry your business is operating in. Our equipment financing is available for business owners and those who are seeking to start a business as long as they meet the lender’s terms and conditions.
There is an erroneous belief that equipment financing is only for those who do not have the capital to buy the equipment directly. However, nothing can be farther from the truth than this. Financing is advisable even for those who have the money. This is because there many advantages such as tax breaks, freeing up cash flow, etc. that comes with using financing.
Equipment Financing Options
Our lenders offer various lending options depending on your preferences, financial position, and business needs. They include:
- Lease: We have partnerships with dealers who provide equipment on leases at an agreed monthly rate. If you need equipment either for short term use or you don’t want to own it to avoid taxes, you can lease the equipment for an agreed period and once that period expires, return the equipment. The benefit of this option is that you can easily swap a piece of equipment for a more advanced one as technology develops.
- Hire purchase: You can also use the equipment financing option that allows you to lease the equipment with an obligation to buy once the lease expires. A hire purchase agreement is an excellent option for financing the equipment you want to own as you only have to pay a small initial deposit and subsequently pay fixed monthly dues throughout the term of the loan. Upon the expiration of the loan, the ownership of the equipment is transferred to you.
- Direct financing: Another mode of financing equipment is through direct financing where you get the capital for the equipment from the lender and buy the equipment from the dealer directly. Here, the lender transfers the loan to your account, so it is almost like a personal loan, except you are using it to acquire equipment for your business.
Why Choose Us
Are you seeking equipment financing and you are not sure of who to go to, there are various reasons why you should let us handle your equipment Financing for you, this includes
- Fast application process
- An expert and experienced team that will look out for your interest
- Lenders with a low-interest rate and flexible options
- and many more…
You can contact us to make further enquiries.
DISCLAIMER: THIS INFORMATION IS ONLY AVAILABLE AS A GENERAL GUIDE ON THE GOVERNMENT POLICIES. IT IS DERIVED FROM THE OFFICIAL AUSTRALIAN GOVERNMENT SOURCES. WE DO NOT BEAR ANY RESPONSIBILITY FOR THE COMMENTARY AND ANALYSIS OF THIS PUBLIC DOMAIN INFORMATION NOR ANY LIABILITY FOR HOW THE FACTS ARE INTERPRETED. IT IS RECOMMENDED THAT YOU SPEAK WITH AN ACCOUNTANT OR FINANCIAL ADVISOR TO GET PRECISE INFORMATION AND ADVICE ON YOUR SITUATION.