In the fast-paced world of business, having the right equipment can be the difference between staying ahead or falling behind. Muscle Money’s Commercial Equipment Finance service ensures you have the tools you need to thrive.
While our platform offers a seamless online application experience, we understand the value of expert advice. That’s why our dedicated brokers are on standby, ready to guide you through every step of the process. The expert team at Muscle Money will ensure you secure the best finance deal for your equipment needs.
Whether you’re a startup in need of essential machinery or an established enterprise looking to upgrade, Muscle Money has got you covered.
From trucks, trailers, and yellow goods to agricultural equipment and specialised tools, if it has a serial number, is movable, and is used for business purposes, we can help finance it. With a wide range of finance options and connections to a vast network of lenders, we cater to every business size and requirement.
Our platform is accessible 24/7, allowing you to apply for equipment finance from any location in Australia, anytime. And if you ever need assistance or have any questions, our expert brokers are just a phone call away.
We’re committed to making sure your business has the equipment it needs to grow and prosper. Every application is meticulously handled to ensure your asset finance solution will align with your business objectives and financial capabilities.
With Muscle Money, you’re never out of the loop. Receive real-time feedback on your application, enabling you to make well-informed decisions about equipment purchases.
Dive into our streamlined online application process or connect with our brokers for a bespoke experience.
Equipment finance is a type of loan product specifically tailored for businesses to purchase necessary equipment or machinery. Asset finance enables businesses to get the equipment they need without having to pay the full purchase price upfront.
This kind of financing arrangement can be particularly beneficial for startups or small to medium-sized enterprises (SMEs) who are working with limited capital.
For example, the owners of a small earthmoving business want to expand their fleet to meet increasing demand. By using asset finance to purchase a larger excavator, they can get the equipment they need without a significant upfront investment. Their new equipment would allow them to complete projects more efficiently, take on larger contracts and potentially generate additional revenue.
Business equipment finance can be used to purchase a wide range of equipment and machinery for businesses in various industries. Some common examples include:
Such as excavators, bulldozers, cranes and concrete pumps or mixers.
Including machinery for metalworking or woodworking, CRM machines and assembly line equipment.
Such as trucks, trailers and forklifts.
Including diagnostic equipment, medical imaging machines, patient monitoring systems and lab instruments.
Essential office equipment including computers, servers, printers, AV systems and even office furniture.
Including commercial ovens, refrigeration units, cooking appliances and food preparation machinery.
Such as tractors, harvesters, irrigation systems and livestock handling equipment.
Including treadmills, elliptical machines, weightlifting equipment and exercise bikes.
Such as point-of-sale (POS) systems, shelving units, display cases and refrigeration units for supermarkets or grocers.
Including solar panels, wind turbines, HVAC systems and waste management machinery.
These are just some examples of equipment that can be purchased with asset finance. However, lending criteria may vary depending on the lender and the specific requirements of the business.
There are several different types of commercial equipment finance available, including:
With a chattel mortgage, the lender provides funds to the business to purchase the equipment outright. The business makes regular loan repayments, including principal and interest, over a set term. Until the loan is repaid, the lender will hold a mortgage over the equipment as security for the loan.
Under an equipment lease, the lender purchases the equipment on behalf of the business and leases it back to them for a specified loan term. The business will make regular payments to use the equipment but they don’t own the equipment outright. At the end of the lease term, the business may have the option to purchase the equipment, return it or renew the lease.
In a hire purchase agreement, the lender buys the equipment on behalf of the business and then hires it to them over a set period of time. The business makes regular payments to hire the equipment, and once all of the payments have been made, the ownership will transfer to the business.
Similar to an equipment lease, a rental finance agreement involves the business renting the equipment from a lender for a specified period. However, unlike a lease, once the rental term is finished the equipment is returned to the lender with no option to purchase or renew.
Unsure which commercial finance loan is right for your business needs? For expert advice, contact the team at Muscle Money today.
Commercial equipment finance can provide business owners with a range of benefits, including:
By opting for equipment financing, you can avoid paying for large upfront purchase costs that would interfere with your business cash flow.
Commercial equipment loans typically come with fixed monthly payments, which will make budgeting and financial planning more predictable for your business.
In many cases, the interest paid on commercial equipment loans and the depreciation of the equipment may be considered a tax-deductible business expense.
Buying new equipment may improve your business’s productivity and efficiency by streamlining operations and increasing output.
Commercial equipment loans can be quite flexible when it comes to repayment schedules, loan terms and financing options. This means that you can tailor the loan structure to meet your specific business needs.
Equipment financing typically involves a streamlined application and approval process, allowing you to get the equipment you need, faster.
Loan terms for business equipment finance typically range from 1 to 7 years, depending on factors such as the type of equipment, the equipment’s estimated lifespan and the financial stability of the borrower.
Most lenders will ask for the following documents when processing an equipment loan application:
Some lenders do offer commercial equipment financing options for businesses with less-than-perfect credit scores. However, interest rates and terms may be less favourable compared to businesses with stronger credit profiles. To find out more, contact the team at Muscle Money for some personalised advice.
Some lenders may ask for a deposit, while others offer 100% financing options. This will usually depend on a range of factors, including your choice of lender, the kind of equipment you plan to purchase and your current credit score.
Yes, businesses can use commercial equipment loans to finance the purchase of leased equipment. This kind of arrangement would allow you to take ownership of the equipment at the end of the lease term.
Some lenders offer lease options with end-of-term flexibility. This would give you the option to return, upgrade or purchase the equipment once the lease term is finished. It’s always a good idea to evaluate the equipment’s anticipated lifespan and future market value before committing to an asset finance purchase.
The interest paid on a commercial equipment loan will often be deemed tax-deductible as a business expense. However, you should always consult with a tax advisor to understand the specific tax implications for your business.
Start your application online now and our team will get you pre-approved in no time.
