Are you considering
purchasing new assets or equipment? Or perhaps it’s time to upgrade a fleet of vehicles?
Are you considering purchasing new assets or equipment? Or is it time to upgrade your fleet of vehicles? Inefficient, outdated, or broken equipment can seriously impact your business results and profitability.
At LKFS, we understand how hard it is to build a business. We know that business equipment is often a major investment, sometimes costing seven or eight figures. Our highly experienced finance team works with businesses across a range of industries to tailor loans and leases for all types of heavy machinery, plant, and equipment.
We handle the complex work for you. LKFS connects with a wide network of lenders to give you more opportunities to save, ensuring your financing is structured to support business success and financial freedom.
What are the benefits of
a business equipment loan?
Investing in new or upgraded equipment can do more than just improve efficiency and staff satisfaction. A well-structured equipment loan can have a significant positive impact on your business, helping you:
Preserve cash flow by spreading the cost of major purchases over time
Access the latest technology or machinery to increase productivity
Maintain a competitive edge with modern, reliable equipment
Take advantage of tax and depreciation benefits available for business assets
Plan and budget effectively for growth without compromising operational capacity
At LKFS, we help you structure equipment loans and leases that suit your business needs, ensuring you get the right finance solution to support long-term success and financial stability.
Contact LKFS today to explore how an equipment loan can benefit your business.
Generally speaking, you don’t need a deposit, so you can get the equipment you need without any upfront costs.
You won’t pay any GST on the loan or the repayments.
You have ownership of the equipment from the start of the loan.
Interest on the repayments and depreciation of the equipment could be tax deductible.
tips FOR
business owners
As a business owner, there are a few things you should consider when it comes to financing new equipment. Getting all the details right will ensure you get the most out of your new equipment.
Here’s Peter Morgante, LKFS Lending Director’s top tips:
Peter's Tips For Equipment FInance
Consider your cash flow
Even if your business has enough cash available to buy outright the new equipment that you need, there may still be advantages of using financing. Investing a significant portion of your cash into new assets will leave you with less capital to finance your regular operations and other growth opportunities.
There may also be flexible repayment options that allow you to structure your loan around any seasonal trends that impact your business. This will give you greater control over your cash flow and allow you to buy the equipment you need to grow your business.
Consider your loan options
There are different types of loans that business owners can use to purchase new equipment, including:
Secured equipment loans: these will typically allow you to finance the full purchase amount. Ownership passes to you at the time of purchase.
Hire purchase: under this arrangement, a lender buys the asset and hires it to your business for an agreed time. These are similar to standard equipment loans and typically don’t require any additional security.
Finance lease agreement: these repayments are structured to have a residual value, giving you lower monthly payments, plus options at the end of the lease period.
Each of these options has its own advantages, disadvantages and tax implications. You may also be able to claim depreciation of the asset and other associated costs as a tax deduction. Always make sure you speak to your accountant or a financial expert when considering your loan options and tax implications.
Speak to your LKFS broker
Our team at LKFS are here to help you with the equipment loan-application process.
We have access to wide range of lenders and finance products and can advise you on the finance options that will best suit your needs.
By partnering with LKFS, we will work hard to get the right loan and one that works for your business, not against it. At LKFS, we’ve got your back.