Equipment finance is an effective way to purchase and start using equipment even if you don’t have the cash upfront. Equipment finance uses the equipment you choose to secure the loan, meaning you can borrow up to 100% of the equipment value without the need for a deposit or loan security. Because this is the case, minimal documentation is required and interest rates are lower than other loan options.
Equipment loans allow you to borrow up to 100% of the value of the equipment you need. As the equipment acts as security for the loan, limited documentation is required and funds can be available same-day.
An equipment loan can be used for a range of equipment purposes; to purchase new or used equipment, upgrade existing equipment, purchase business vehicles or even fitout a business space. Equipment finance covers all equipment and industry types, whether you’re financing a commercial vehicle, agricultural or manufacturing machinery, retail fitouts, office systems or hospitality equipment.
There are a number of options when it comes to equipment finance. The traditional equipment loan allows you to purchase and own the equipment outright. Lenders also offer leasing options for business equipment, including finance and operating leases, which may be a good option if your equipment needs to be regularly updated (e.g. due to continual technological developments). A FundingPro loans specialist can help you find the best option for your business needs.
Loans less than $50K:
Loans $50K or over will also need:
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As a business that is growing fast we needed to quickly buy more stock.
Banks couldn’t do this quick enough hence why we turned to FundingPro.
The communication was great and funding was very fast.
FundingPro tailored a finance solution to our needs, assisted with the application process and we were successful in obtaining funds in a very short time at very competitive rates.FundingPro – a definite go to place for finance.
With a few details about what you'd like to achieve, we can begin mapping a pathway to get there. It's free to apply and completely obligation-free.
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