Modern businesses in Canning Vale rely heavily on technology and specialised equipment to remain productive and competitive. Whether you're buying new equipment, upgrading existing equipment, or expanding your operations, securing the right finance can make all the difference to your business growth.
What is Asset Finance?
Asset finance allows businesses to purchase essential equipment without paying the full amount upfront. This financing solution enables you to spread the cost over time through fixed monthly repayments, helping you manage cashflow more effectively. The equipment itself typically serves as collateral for the loan, which often results in more favourable terms.
At Freo Finance, we provide access to Asset Finance options from banks and lenders across Australia, ensuring you receive tailored loan options that match your specific business needs.
Types of Equipment You Can Finance
Asset finance covers a broad range of equipment categories:
• Office equipment - Computers, servers, printers, and communication systems
• Work vehicles - Cars, vans, and commercial transportation
• Heavy machinery - Excavators, tractors, graders, cranes, and dozers
• Commercial vehicles - Trucks, trailers, and delivery vehicles
• Factory machinery - Manufacturing equipment and production lines
• Specialised machinery - Industry-specific equipment tailored to your sector
Popular Asset Finance Structures
Chattel Mortgage
With a chattel mortgage, you own the equipment from day one while using it as security for the loan. This option often provides tax benefits, as you can claim depreciation and interest as business expenses. The interest rate is typically competitive, and you can choose the loan amount and repayment terms that suit your budget.
Hire Purchase
Under a hire purchase agreement, you make regular payments throughout the life of the lease. Once all payments are completed, ownership transfers to your business. This structure offers predictable fixed monthly repayments, making it easier to budget and plan your finances.
Benefits of Asset Finance for Technology Purchases
Technology moves rapidly, and businesses need to stay current with their equipment. Asset finance provides several advantages:
- Preserve working capital - Keep your cash reserves available for day-to-day operations
- Predictable payments - Fixed monthly repayments help with budgeting and financial planning
- Tax advantages - Potential depreciation and interest deductions
- Flexible terms - Choose repayment periods that align with your business cycle
- Equipment protection - Some finance options include maintenance and warranty coverage
The Application Process
Applying for Asset Finance involves several key steps. Our streamlined application process ensures you receive prompt consideration for your financing needs. You'll need to provide:
• Business financial statements
• Equipment quotes and specifications
• Details about your business operations
• Personal and business credit information
The loan amount you can access depends on factors such as your business's financial position, the equipment value, and your repayment capacity. Interest rates vary based on the type of asset, loan term, and your business profile.
Why Choose Professional Finance Assistance
Working with experienced finance professionals provides several advantages. At Freo Finance, we understand the unique challenges facing Canning Vale businesses. Our team evaluates multiple finance options across different lenders to identify solutions that align with your requirements.
We help you understand the various commercial equipment finance structures available, ensuring you make informed decisions about your business investments. Our local knowledge of the Canning Vale business community allows us to provide relevant, practical advice.
Making the Right Choice
Selecting appropriate asset finance requires careful consideration of your business circumstances. Consider factors such as:
• Your current financial position
• The equipment's expected lifespan
• Tax implications of different finance structures
• Future business growth plans
• Industry-specific requirements
Every business has unique requirements, and the right finance solution should reflect these individual needs. Whether you're purchasing a single vehicle or outfitting an entire facility with factory machinery, professional guidance ensures you secure appropriate funding terms.
Asset finance opens doors for businesses to acquire essential equipment while maintaining healthy cash flow. From small office equipment purchases to major machinery investments, the right financing structure supports your business objectives without compromising your financial stability.
Call one of our team or book an appointment at a time that works for you to discuss your asset finance requirements.
