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Equipment Finance

Many businesses lack the necessary liquid funds to purchase equipment outright, making equipment financing a vital consideration. Even if you possess the financial means, investing cash in equipment might diminish your working capital available for operational needs or potential expansion opportunities.

This is where equipment financing becomes crucial. Opting for an equipment loan presents an efficient method to procure necessary equipment, particularly when immediate ownership of the asset is essential for business operations.

Businesses can typically secure a loan covering the entire equipment cost without an initial deposit, as the asset itself acts as security for the loan. Generally, the interest payments and asset depreciation are tax deductible, provided the asset is utilized for business purposes. And car loan is also a kind of equipment loan, if the car is for business use.

The benefit of a vehicle or equipment loan lies in its ability to preserve your funds and typically does not necessitate additional security, allowing you to utilize available cash and credit lines to generate revenue. Immediate ownership transfers to you, with your bank holding a goods mortgage over the asset.

Equipment loans can be tailored to accommodate your business's cash flow, offering various repayment options. Additionally, you have the flexibility to decrease the loan amount and associated finance costs by contributing equity through a deposit or trade-in.

Application for equipment loan is fast tracked, and does not require any financial documents sometimes. Contact your mortgage brokers at MoreMore Finance to get more info.

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