Equipment financing pertains to receiving financing for tangible assets for your business other than real estate. These could include business vehicles and other heavy equipment. Equipment loans on the Gold Coast can be secured from banks and other professional lenders.

Obtaining a loan can be favourable for your business as it opens up cash flow and because the equipment is used as collateral, you can usually get a good interest rate on the loan.

You would normally use an equipment loan to purchase equipment such as:

• Specialised equipment: Medical or dental equipment such as X-Ray machines.
• Commercial vehicles: Transportation vehicles such as trucks, vans and buses.
• Heavy machinery: Manufacturing and construction equipment such as forklifts, bulldozers etc.
• Any other equipment for different industries: Office equipment (large printers), restaurant equipment (ovens) and even laundry services (washing machines and dryers).

In this post, we will look at the benefits of business loan financing and why it might be the best option for your business.

Benefits Of Getting An Equipment Loan

• Cash Flow

Receiving money from a business equipment loan can greatly improve the bottom line of your business. You can purchase the equipment you need without having to wait to have the cash required, thus instantly increasing your productivity and income. A loan is also helpful when equipment is suddenly damaged and needs to be replaced or repaired immediately.

• No Need For Extra Collateral

When obtaining a loan, you would normally have to include some type of collateral in case you cannot make loan payments. This would include something you already own, such as your house, vehicles or something else of value. With an equipment loan, the equipment itself can be considered the collateral of the loan.

• Ownership

Once the loan has been paid in full, you will own the equipment that is so vital to the success of your business. This will help increase the productivity and sales of your business. However, If you don’t intend to own the equipment at the end, leasing might be a better option for you.

Invest in your business today by securing an equipment loan on the Gold Coast with ZEP Finance. At ZEP Finance, we’ll help you find the best equipment loan or financing option that will suit your business in the long term. Contact us today to find out more about our financing options!