What is the Best Source for Equipment Financing for Startup?

equipment financing

What is the Best Source for Equipment Financing for Startup?

Having the right equipment can help your business in becoming more productive and profitable. So, if you want to drive your business forward and you do not have the available capital to invest in equipment, you can obtain equipment financing for it.

Equipment finance is a common tool used by many companies to help improve cash flow and working capital. That is why equipment financing is important for startups that don’t have the necessary funds to immediately purchase equipment in full. The process provides you with the funds necessary to secure the purchase of the needed capital equipment for your business.

The equipment purchased acts as security or collateral for the loan, meaning that as long as the loan is repaid in a timely manner, you have continued use and access to the equipment. Equipment financing can be used for purchasing new and used equipment or vehicles. It will help you in conserving your working capital for other purposes like inventory or operating expenses which is especially important for startups.

Equipment financing is ideal for startup companies who would like to finance the purchase of:

  • Cars, utilities, forklifts, and commercial vehicles
  • Trucks and buses
  • Computing and office equipment
  • Printing, medical and manufacturing equipment
  • Industrial plant equipment

Choosing the Right Equipment Financing Source

It is vital for your business that you have the right financial structure in place. Choosing the wrong loan package may end up hurting the financial stability of your business. To avoid such mistakes, you must consult an expert commercial finance brokerage firm. These companies have a thorough knowledge of the credit policies and standard requirements for equipment financing. They will be able to provide you the right financial advice for your startup and provide suggestions on equipment financing options. Another reason to find a brokerage firm is to provide you with a better understanding of the treatment of depreciation and any tax advantages that may be available to you.

To obtain the right equipment financing for your startup, you must start by employing the services of the right finance brokerage firm. Intellichoice is a mortgage broking business that has been assisting clients and startups for the past 16 years. Intellichoice is an Australia-based provider of opportunities to match businesses, both large and small, with the financing needed to run their business. They specialize in a variety of loan and other financial arrangements to help you secure equipment without disrupting your cash flow. Their solutions are designed to get you the capital you need with as little drama as possible, so you can get on with the important work of your business. If you have further questions reach out to us on info@intellichoice.com.au or apply online for speedier service and allow our expert finance brokers in helping you find the best deal on equipment financing.