Financing your equipment is a huge part of your business and can lead to tremendous growth in your services and client base. But spending large sums of money on equipment isn’t a quick decision, especially for businesses that are growing and have demands on their cash flow. While the decision of what you buy is always important, how you plan on financing this equipment is an even bigger step of the process.
Specialised attention for large assets
Equipment finance brokers are able to manage and run the finance side of your equipment while you run your business. These differ to standard brokers as they offer a specialised service exclusively for this field of finance.
Experienced in the industry, equipment finance brokers can offer you an insider’s eye and provide sound and tailored solutions. Equipment finance is a highly complex industry and should be tackled with care and consideration. Choosing a specialised broker allows you to explore a range of options, and Atlas EF works to advise you in services that best suit your needs.
What are my financing options?
There are number of options available when it comes to equipment financing, and each has its own benefits and details. The popular options for businesses include:
- Chattel Mortgage: This option allows for customers to take ownership of the asset while the financier takes “mortgage” over the asset for security.
- Finance Lease: This refers to commercial equipment that a customer will have use of, including most benefits of ownership, while the financier has the actual ownership. In this case, financiers are agreeing to pay for the product on behalf of the customer. Ownership will generally flow to the customer at the end of the finance term.
- Commercial Hire Purchase: This process involves the equipment being hired from the financier for a fixed monthly repayment. Once repayment and interest charges have been paid, the customer can take ownership of the equipment.
- Operating Lease/Rental: This option means the customer has the benefits of the owning equipment while financiers still have the title.
The Atlas EF touch
Atlas Equipment Finance values tailored solutions, providing guidance to businesses, whatever their needs. We are able to provide you further information on all your finance options, and guide you through making the right decision for your business.
Atlas EF practices a personal approach that lets customers make their own decisions through educating and informing them. If you are considering equipment finance for further growth in your business, speak to our team and we will help you with any questions you may have.