5 ways to improve the financial position of your business.
What You Might Not Know About Your Business As a business owner, you’re familiar with most aspects of your business.
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Asset finance usually refers to a loan to a business to buy equipment, machinery or anything else tangible. This enables you to acquire the asset needed to help grow your business but retain the comfort of paying for it over time, i.e. the useful life of the asset.
Similar to car finance, the terms last of anywhere between two and seven years. However, depending on the type of asset/ machinery, this can be tailored according to your needs and the useful life before replacement. No two companies are the same and so machinery and equipment will vary according to industry requirements and standards.
By choosing the right type of asset finance, it can help save a business not only with competitive interest rates, but also with cashflow and structure.
Sharon and John are a married couple living in North Lakes, QLD. Their building business is quite successful and has been running for about 10 years. They average about 3 jobs working at once with many sub-contractors. They required the sale of an existing excavator and the purchase of a new one along with the purchase of a medium size bulldozer and machinery. The existing excavator had an outstanding debt of $55,000 still on it. Their existing bank refused to finance the purchase of both sets of equipment given the outstanding debt. However, Sharon and John needed the cash to pay an ATO bill.
Solution:
We financed the outstanding debt into one of the excavators. The bulldozer and machinery were fully financed too over 7 years with no balloon.
The allows Sharon and John not to have to commit capital to a business and allow them to continue without straining cash flow. End-to-end, the finance was approved, settled and equipment delivered to site within 48 hours.
Sharon and John are a married couple living in North Lakes, QLD. Their building business is quite successful and has been running for about 10 years. They average about 3 jobs working at once with many sub-contractors. They required the sale of an existing excavator and the purchase of a new one along with the purchase of a medium size bulldozer and machinery. The existing excavator had an outstanding debt of $55,000 still on it. Their existing bank refused to finance the purchase of both sets of equipment given the outstanding debt. However, Sharon and John needed the cash to pay an ATO bill.
Solution:
We financed the outstanding debt into one of the excavators. The bulldozer and machinery were fully financed too over 7 years with no balloon.
The allows Sharon and John not to have to commit capital to a business and allow them to continue without straining cash flow. End-to-end, the finance was approved, settled and equipment delivered to site within 48 hours.
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What You Might Not Know About Your Business As a business owner, you’re familiar with most aspects of your business.
The Clients: Jackson and Pippa, two young Australians, have saved $40,000 to buy their first home in Brisbane, QLD, with
Bridging Loan. The Clients: Mr and Mrs Selassie, retired in their early 80s, own a $1m home in Melbourne and
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