Name: Borg Financial
Address: 80 Market Street, South Melbourne, VIC, 3205, Australia
Telephone: 0400 965 577
Price range: $$
Rating: 5

Why Get an Equipment Loan?

A business equipment loan is a type of asset/commercial finance. There are many types of equipment loans that allow you to fund the purchase of equipment for your business, such as machinery and vehicle fleets. Anything you need to operate your business, you can fund with a business equipment loan.

Business equipment loans are an excellent solution for accelerating growth, allowing you to own the equipment you need without utilising all the capital on hand immediately. Payment terms can be negotiated as well to ensure you’re getting the best deal on repayments. Additionally, you may be eligible to claim depreciation and interest tax deductions on the interest parts of your repayments, please consult your accountant or enquire with us to connect you with a tax accountant.

Find the Right Equipment Finance Loan

Depending on your circumstances, the features of one business equipment loan may be better than others. Repayments, rates, fees, and usage can all differ. Finally, you need to take into consideration which loans you’re eligible for.

Some of the equipment finance loan types are as follows: lease, hire purchase, chattel mortgage, business overdraft, or a commercial bill. Each loan type varies depending on the needs of the client, some can be more suitable than others, this will align with your short and mid term goals. If cash flow is important to you then leveraging debt can assist with retaining capital whilst being able to own the asset post last loan payment.

Our brokers have years of experience helping businesses and individuals get the finances they need. If you’re considering an asset or equipment loan, we’ll work closely with you to evaluate your options and choose the one that best meets your needs. If you’re not eligible for a business equipment loan, our team can find you an alternative that will get you the same results, if not better.

Borg Financial can take care of the entire process, from initial assessments and discussions with loan providers to application and securing finances. Discuss your needs with our team today for more information.

Equipment Financing Options Available

Business Loan

The most popular option, a standard business loan, allows you to choose what you wish to purchase with the funds that you have received. This can be secured to the business or an asset to get a better rate or deal. You can then purchase the vehicle outright with the business loan or utilise the vehicle as a security for the business loan.

Finance Lease or Rent

This type of asset finance loan allows you to rent the vehicle or equipment you need for a specified time. It’s an excellent choice if you need to use equipment for a short time, allowing you access to it while just paying a monthly fee. However you should note you do not own the asset after the lease term ends. The benefits can include, servicing, fuel and maintenance are all part of the lease cost. Sometimes they will give you an option to purchase the vehicle at the end of the lease term.

Hire Purchase

This business equipment loan option allows you to pay for an item in instalments, hiring the equipment for a set period and owning it outright at the end, as opposed to having to return it.

Why Choose Borg Financial

Borg Financial Represents a high level of prestige in the finance industry. Since 2019 we’ve been developing loan broking services focused on people, placing our clients first in every decision we make.

Our experienced loan brokers have joined us from prominent finance firms, and have worked with the best throughout Australia. We’ve learnt from the best, and bring this knowledge and expertise with us to deliver exceptional results for our clients.

As a firm, Borg Financial is young, agile and hungry to assist you with your finance fials. We use the latest in technology to give ourselves an advantage over more established firms in the industry. This allows us to move quickly, exceeding industry standards at every turn and providing our clients with a competitive advantage.

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Business Equipment Loan