STARTING a new business or growing an existing business can be a nerve-wracking experience. If market conditions are uncertain, it can be even more difficult to commit to spending thousands on new equipment - no matter how essential.  Planning what type of equipment you need and selecting the items that will best meet your requirements is an important part of the process. Potentially even more important is working out how you intend to pay for it.  

What type of Equipment?  

Business equipment of all sorts can be financed, from computers and IT equipment right through to heavy machinery, heavy commercial vehicles and even medical and scientific equipment. Almost any type of equipment can be financed. Different types of finance will apply to different types of equipment, taking into account the lifecycle of the equipment (the timeframe in which it will become obsolete), your business' structure and other requirements.  

Down to Detail 

Once you've got a good idea of what you're after, consider the specifics of the equipment you need: Is it additional or replacement? Which brand/model do you want/need and why? Considered used or refurbished equipment? Is this equipment required every day, intermittently, or maybe seasonally? Your equipment finance consultant will need to know exactly what you intend to purchase and how it will be used to structure a finance package that suits you. Managing Cashflow Purchasing expensive equipment outright can have a significant effect on your cashflow. 

Most often a deposit is not required for equipment finance - it's possible to finance 100% of your equipment cost. Acquiring your business assets using equipment finance allows the equipment to be paid for throughout its useful life, rather than in one payment. Payments can also be structured to take into account the projected growth of your new business, the seasonal nature of your cashflow, and more. 

Preserving Capital Financing your equipment leaves your capital and any lines of credit available for use in other areas of your business. The financial risk of making large capital purchases can be  significant, especially for smaller businesses. Financing your asset purchases can help to reduce your risk. 

Smart Planning   

Equipment is normally financed at a fixed interest rate, with all payments during the term of the agreement known in advance. In addition, you can normally choose to finance your assets in line with your business' growth and cycles - for example, you could structure  your repayments to be lower while the business is building, or in the initial stage of a  project. 

Likewise, your payments can be structured around seasonal and other business-specific fluctuations. 

Hold your cash and have your equipment too 

Schuh Group Finance will help you find the right structure and right lender for your business equipment finance needs, while making the process efficient and hassle-free.  We can turn around most requests within 24 hours. Make sure your equipment earns its  keep. Call David on 0400 224 615 or our office on 07 5480 4859 hold on to your cash and have your equipment too.