Why use business asset finance?
Asset-backed loans allow you to get the equipment you need to do the highest-quality job in the shortest amount of time.
The alternative to business asset finance would be to:
- Lease the equipment with your own money – which might be an inefficient use of company money and damage your cashflow
- Buy the equipment with your own money – which might have an even greater financial impact
- Make do with less equipment – which might result in a slower, lower-quality build
Business asset finance offers other advantages:
- No collateral needed – because the equipment itself is the security
- No depreciation costs – because the equipment is owned not by your company but the asset finance company
- No maintenance costs – assuming the asset finance lender has agreed to cover maintenance and repair
- Rapid loan approval based on minimal business trading information such as bank and BAS activity statements.
Also, if the loan term matches the life of the asset, it’s a perfectly tailored solution.
That’s why if you organise the right business asset finance facility and use it in the right circumstances, it’s not a cost but an investment in your future profits.
