FAQs

Machinery, plant and equipment may be financed with Rent-to-Own, CHP, Lease and Chattel Mortgage. The best option is the one that suits the accounting method used, tax and balance sheet approach and overall objectives for the enterprise.

Interest rates on asset acquisition loans vary with the different credit options, with different lenders and with the financials and credit rating of the applicant. For a specific rate, business owners should request a quote.

All asset acquisition loan products provide tax benefits. These vary with the products. Businesses should select the product that best suits their business objectives.

For most applicants, asset acquisition loans on new goods allow for the machines to be the sole form of security. Some smaller businesses and those with less than good credit ratings may be required to provide additional security by way of business or personal assets.

While new assets are generally accepted as loan security, used assets are assessed by lenders as suitability as collateral for credit. Interest rates and lending conditions may also be different for used compared with new assets.

No. Rough loan estimates may be obtained by using an online loan calculator.

A balloon amount is due for payment after the final repayment is made.

Business operators may apply for complete production lines to be financed. Approval and including multiple items into one finance package is subject to lender guidelines. Brokers may assist with specialist finance solutions such as large-scale plant.

The purchase of computer and IT systems to operate plant may be financed with asset acquisition loans or business loans.

Where accessories are purchased from the same supplier and at the same time as a machine, they can generally be included in the one financing package.