Asset Finance
Asset & Equipment Finance
Obtaining new business hardware can be a serious venture, particularly for small and new businesses. With ‘asset finance and equipment loans’ you can acquire the business assets quicker and simpler.
There are multiple options for asset finance and equipment. Most involve paying for the asset over some time or paying a regular charge over time to use the asset, similar to “rent-to-own” services.
You can finance most kinds of equipment, machinery, and physical business assets, provided that,
- The value of the asset is over $5000;
- The asset is classified as a “traditional asset” (meaning the banks can easily value it).
The kinds of assets finance you can get as a loan include,
- Motor Vehicles (cars, utes, buses, etc.);
- Forklifts, cranes, earthmoving equipment;
- Office equipment, manufacturing equipment, industrial plant equipment;
- Technology;
- Fit-outs.
Types of Asset Finance Loans
Chattel Mortgage
This is your basic equipment loan. This kind of loan allows you to borrow money for the business equipment you’re buying and is secured against the equipment itself. They can often be negotiated for terms between 12 months and seven years depending on the cost of the equipment.
Commercial Hire Purchase
Through this arrangement, the asset is purchased by the lender and “hired” back to you. Once the final payment has been made and the loan is paid off, full ownership is transferred to you. It’s the “rent-to-own” system of the business world.
Asset Finance Lease
This form of lease is like the commercial hire lease, which operates through the lender buying the asset and charging rental payments. However, this kind of loan is not paid off and is used simply for rental, usually for vehicles and large equipment.
The team at ADVENT LOANS has years of experience dealing with asset finance & equipment loans. We work with business owners to help them get the financial assistance they need.
Whether you’re looking for a small loan to help you buy equipment immediately or something bigger, we can help you choose the best loan for your situation. Discuss with us on a commercial loan for new assets, and reach your goals today.
We have built a reputation for being well-organized, well-trained, and having second-to-none expertise. Amongst hundreds of lenders and thousands of loans, we help you select the best loan suited to your situation through the personal loan borrowing power compound interest calculator.
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If you're ready to discuss your next loan, we are ready to work with you. Give us a call and get started with one of our consultants. We'd love to sit down and talk about your future.