With constantly changing and emerging approaches to fitness and exercise, gyms and trainers need to stay on trend with the latest equipment to meet market expectations. Machines and equipment at busy fitness centres can get a good workout and require regular replacement. But the costs of new gear and the accessibility to affordable fitness equipment financing can be a barrier for many operators.
No excuses, no procrastination – when new machines are required, operators can use our specialist services for cost-effective loans for gym equipment. We have lenders to suit all types of operations – self-employed personal trainers, fitness centres, group operations, both large and small, and the expertise and resources to secure gym finance at the best rates and flexible terms.
We understand that gym memberships and use of personal trainers can feel the impact of costs-of-living. Making it important for operators to keep their outgoings under control and not pressure cash flow. When requiring new equipment, that means ensuring the gym loan is workable and affordable. Objectives which we work closely with our customers and our lenders, to achieve.
Securing affordable fitness equipment financing can be crucial to establish a new gym or personal training service and to upgrading an existing centre.
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Regardless of the size of the operation, the finance has to work for the business. We provide funding solutions which are specifically sourced and structured to suit the specifics of the operation. Making the prospect of acquiring high quality machines and equipment accessible and affordable for more operators.
All types of business set-ups can be eligible for gym equipment financing. That includes the many self-employed, part-time and freelance trainers in the sector. Fitness equipment financing can be sourced for individual apparatus or for multiple machines.
The type of equipment we finance can include cardio machines, cross trainers, elliptical machines, stair climbers, workout stations, all variants of exercise bikes, and loans for weight training equipment. Technology for the installation of smart machines can also be acquired with a loan for gym equipment.
To discuss your specific purchase, speak with one of our brokers or simply apply online for a prompt response and quick quote.
The type of equipment we finance can include cardio machines, cross trainers, elliptical machines, stair climbers, workout stations, all variants of exercise bikes, and loans for weight training equipment.
Our guides offer quick comparisons and simple explainers to help you power through the financing process with confidence.
There are a number of differences with these credit facilities which make each more or less suited to specific business set-ups. Importantly is whether a business uses the cash or accruals method of accounting. Lease and Rent-to-Own best suit the accruals method, Chattel Mortgage the cash method, and CHP may suit businesses using either method.
Another difference which can be particularly relevant in the fitness industry that may need to upgrade equipment regularly, is the ownership of the equipment over the finance term. With Leasing and Rent-to-Own, the ownership remains with the lender. This can be seen as a more flexible option for more efficient upgrading at the end of the term. This may also suit smaller operators as the asset does not get posted to the balance sheet.
There are also differences in what elements of the loan are tax deductible and with the interest rates. Speaking with an accountant may clarify the most suitable credit facility for your business set-up and the objectives you hope to achieve in the future.
We offer all options at fixed best rates, and negotiated fixed terms to deliver the most flexible repayment schedule. Our brokers will be working to understand your objectives and structuring the loan to meet cash flow expectations and optimised for tax benefits.
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Getting real results from workouts can take time. But getting real benefits and outcomes from a gym loan can be immediate when working with us. Our experience gained over more than 25 years with customers across Australian industry, is your assurance that you are choosing brokers that know the lending market and understand what individual businesses need from their financing.
Our fitness customers rely on us to secure gym loans that will target their specific needs and deliver fitness, results and profitability for their operation. We have access to over 80 lenders to ensure we can match each fitness operator with the lender that is aligned with their profile. That can be critical in ensuring the criteria is met and the best rates are offered.
Our individual, personal approach, with an individual broker assigned to your financing, ensures your interests are our complete focus. We negotiate directly with our lenders to secure the best rates and most workable terms to deliver gym equipment loans that do meet individual requirements.
Fitness professionals know the importance of the personalised approach and greatly value and benefit from our individual approach to gym loans.
For a no obligation initial discussion on the results we may achieve for your gym equipment finance, contact us by phone or online.
To be eligible for gym finance with commercial credit, operators are required to hold a current ABN and have verifiable ID. It is not essential, but can be preferable, to also have GST registration. All types of business enterprises can be eligible, depending on individual lender criteria, which can vary across the market.
With our access to many lenders, we do have options to suit new, start-up and self-employed fitness professionals. Some lenders will have a requirement to be trading for at least 1-2 years. We do have access to lenders that approve gym equipment financing based on 6 months of trading figures.
Credit scores and business stability are integral to being offered the best gym finance deal. Self-employed trainers can expect that their personal credit profile and financials will be assessed as part of the application approval process.
A key requirement for the application is to provide financials for the business. These include the annual accounts, BAS returns, income tax returns, profit and loss statement, assets and liabilities details and bank statements. Where a new operator does not have credentials for a 12 month period, we will approach one of our non-bank lenders that off No Doc and Low Doc Gym Equipment Loan options.
Our application process is streamlined and efficient. Upload the documents and details that your broker advises are required, and allow us to handle the process while you continue with running your business. We match your profile with the right lender, negotiate with the lender for the best rates, source the quote and present to you for consideration.
When any offer is accepted, approval can be received with 24 hours. We handle the processing, finalising the details, and making the funds available to purchase the equipment. The process is easy, streamlined and simple with Jade’s platforms and approach to efficient delivery of cost-effective gym financing.
Prior to applying, operators can use our calculator to work up quick estimates. Or just contact us to start the process.
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THE INTEREST RATE IS CALCULATED ON A SECURED LOAN PREDOMINATELY FOR BUSINESS USE, EFFECTIVE 20/09/2024 AND SUBJECT TO CHANGE. WARNING: THE INTEREST RATE IS TRUE ONLY FOR THE EXAMPLES GIVEN AND MAY NOT INCLUDE ALL FEES AND CHARGES. DIFFERENT TERMS, FEES OR OTHER LOAN AMOUNTS MAY RESULT IN A DIFFERENT INTEREST RATE.
Yes. Lease is one of the commercial credit facilities available to purchase fitness machines and equipment. The other options are Chattel Mortgage, CHP and Rent-to-Own.
Interest rates on gym loans are individually offered by lenders following an assessment of the individual application.
Sole traders with an ABN can be eligible for commercial finance.
Self-employed operators may consider a personal loan or business financing for gym equipment. Business finance would generally be considered preferable due to the lower rates and tax benefits.
All business financing products offer tax deductions. Lease and Rent-to-Own payments are deductible. CHP and Chattel Mortgage deliver a deduction when the equipment is depreciated.
Lenders can approve funding arrangements for multiple items of fitness equipment. This is subject to individual lender guidelines. Working through a broker may provide access to suitable lenders.
A wide range of fitness machines and apparatus may be acquired with financing. Approval is subject to lender guidelines.
Technology systems may be financed with commercial credit facilities. Depending on being accepted as suitable security may determine what type of loan is most appropriate.
Asset acquisition finance is typically arranged with fixed interest rates.
A balloon is an optional inclusion with Commercial Hire Purchase and Chattel Mortgage.
