Leasing equipment provides businesses with many benefits, including reduced ownership risk and no upfront costs. Leasing equipment will allow a business to upgrade equipment when new advancements and more efficient systems are developed. If your business operates in an industry where equipment upgrades occur often, then leasing could be the best option.

When you use equipment financing to purchase heavy machinery and other items for your business, the lender will use those items as collateral for the loan. A lender may also use other assets in your business as security for the loan to help offset their risk. After the loan is finalised, the security lien will be released, and you’ll take full ownership of the equipment.

• The loan terms will vary between lenders, but most loans are offered from one to seven years. When choosing a loan term, it is best to use a calculator to determine the repayments that will suit your business finances.

An equipment loan allows a business to spread out the cost of purchasing equipment and avoid a significant upfront investment. These loans can help stabilize your cash flow and working capital, allowing your business to continue with ongoing projects and growth development.

Equipment finance is a type of loan that provides funds to businesses to purchase new equipment. These loans can be used for all types of items, such as farming equipment, hospitality equipment, landscaping equipment, and more. These loans can also be used to fund any heavy equipment that your business uses to produce income.

These loans can be used to purchase equipment to support your business operations. This can include company cars, IT systems, commercial hospitality equipment, gym equipment, forklifts, medical or dentistry equipment, and more. You can discuss your needs with one of our loan experts, and we’ll advise if an equipment loan is the most suitable option.