Asset Finance

Apply for Asset Finance to Save on Capital Investments

Capital Intensive businesses like medical facilities, restaurants, and construction among many more, require expensive assets like construction equipment or business vehicles to proceed with their daily operations. If you try to purchase the asset directly, it’ll cost you a massive chunk of your capital, leaving you with crumbs for covering your operating expenses.
Asset Financing throws a lifeline to small and big business owners who don’t want to burn a hole in their pockets purchasing heavy machinery.

What Is Asset and Equipment Financing?

Asset and Equipment financing is a financial instrument that gives you alternatives to funding the assets or equipment that are vital to your business. The most significant benefit of opting for asset financing is that you can start using the equipment almost immediately without disrupting your cash flow.
It’s an opportunity to spread the investment cost over an extended period, offering you more time to run your business and start raking in profits.

What Is the Difference Between Low Doc and Full Doc Products?

Many of you must have guessed that it’s something related to the documentation you must furnish while applying for the loan. And you are right on that end.
With Low Doc products, you require lesser financial documentation to prove your income and loan serviceability. If you are self-employed or simply low on documentation that a full-doc loan may require, this is just the right fit for your needs.
On the other hand, Full Doc products require more thorough documentation, offering lenders more insight into your current financial conditions. Since you reduce your risk by furnishing more details, the lenders offer you lower interest rates and can make do with a smaller deposit upfront.

What Are the Most Common Types of Asset Finance Solutions?

  • Hire Purchase(HP): With a commercial hire, your lender purchases the asset at your request, allowing your business to use it independently in return for regular payments. Once you complete all the payments at the end of the term, your business owns the asset.
  • Financial Lease: A financial lease allows you to use an asset the lender purchased at your request. In this case, the lender rents out the asset to you over a fixed period of time. At the end of the lease period, you must return the equipment.
  • Chattel Mortgage(Goods Loan): In a chattel mortgage, your firm holds the ownership of the assets/ goods from the start of the term. In return, you make regular payments to the lender for an agreed period of time till the loan is fully repaid.

Why Pro Biz Finance?

If you struggle to determine which option suits your business, don’t jump the gun and regret it for years to come. Even the slightest misunderstanding in the interest rates, loan terms or loan structure can have dire consequences for your business. Instead of just winging it, why not seek help from the experts?
At Pro Biz Finance, our team understands how crucial these assets and equipment can be to keep your business running smoothly. Our experts eliminate the stress of dealing with lending institutions. We perform in-depth financial analysis of each client’s business to offer personalised, tailored solutions.
Tapping into our vast network of lenders, we can get your asset finance applications approved within just 24 hours.

For fast and easy business solutions, get in touch with our team. Call us on 0415 929 728 to speak with one of our experts.

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