Equipment Finance Perth

All You Need To Know About Financing Equipment for Your Business

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Business Equipment Finance Solutions

Equipment finance is simply a loan specifically obtained for the purchase of a vehicle or equipment, also known as a lease, hire purchase, or chattel mortgage. Equipment finance is secured against the item you purchase.

Chris white from Whiteroom Finance
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What is Equipment Finance?

Equipment finance is simply a loan specifically obtained for the purchase of a vehicle or equipment, also known as a lease, hire purchase, or chattel mortgage. Equipment finance is secured against the item you purchase.

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How Can an Equipment Finance Loan Help My Business?

Most businesses need to acquire capital equipment in the normal course of operating. This equipment could include computers, vehicles, trucks and trailers or any other form of specialised equipment. Without equipment funding, businesses would need to use their own cash for the purchase. The need to acquire equipment for many businesses occurs during periods of growth, where cash can be stretched and paying thousands upfront can be challenging.

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Why Use a Business Equipment Loan?

Business equipment loans are commonly used among business owners because they:

  • Can apply to the purchase of most physical items (that are not stock) and for any amount
  • Require no property security or mortgage debentures (in most cases)
  • Offer a loan of up to 100% of the purchase cost (including GST)
  • Offer terms up to 5 years or more in some circumstances
  • Can be used for any business type, structure, or industry
  • Are approved and settled efficiently
  • Are a fixed monthly repayment
Book an obligation free consultation with a member of the Whiteroom Finance team

Industries We Serve

Home construction

You can rest assured our team will secure the right equipment finance loan for your business. No matter the industry you’re in, our team have you covered, with experience in:

  • Farming and agriculture
  • Hospitality and catering
  • Trucks and vehicles
  • Fitness and leisure
  • Boat and Marine
  • Construction
  • Commercial
  • Engineering
  • Resources
  • All trades
  • Industrial
  • Aviation
  • Printing
  • Mining

Equipment We Can Finance

Company vehicle
  • Solar panels and HVAC systems
  • Computers and technology
  • Underground equipment
  • Point-of-sale machines
  • Specialised equipment
  • Workshop equipment
  • Commercial kitchens
  • Commercial printers
  • Warehouse racking
  • Shipping container
  • Welding machines
  • Mining equipment
  • Plant equipment
  • Office furniture
  • Workbenches
  • Water pumps
  • Laser cutters
  • Appliances
  • Software
  • Forklifts
  • Drill rigs
  • Trailers
  • Lathes
  • Cranes
  • Trucks
Download our guide to equipment finance

In Need of Equipment Finance for Your Perth Business?

As with most business choices, the right solution is a tailored one. Get in touch with a member of the Whiteroom Finance team to discover the options available for your business.

Book an obligation free consultation with a member of the Whiteroom Finance team.

Equipment Finance Loans Explained

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Chattel Mortgage

A chattel mortgage is a loan in which the value of the item being purchased is used as security against the loan. This loan type is common amongst business owners, as once the chattel mortgage is approved, you will own the asset outright.

Finance Lease

A finance lease involves the Lessor (finance organisation) purchasing the item and the Lessee is then required to make payments to the lessor. The asset is registered in the name of the Lessee and the Lessor agrees to sell the asset to the Lessee at the end of the lease term for a pre-determined amount. The Lessee does not own the asset until they purchase from the Lessor; this may enable the full lease payment to be expensed.

Novated Lease

A novated lease is a Finance Lease where a third party (normally an employer) makes payments on the Lessee’s behalf. Typically this may be applied where you are able to use of a vehicle under a ‘salary sacrifice’ arrangement. While payments are made by your employer, responsibility for repayments lies with you and you will need to consider the tax implications involved, such as Fringe Benefits Tax (FBT).

Operating Lease and Rentals

An operating lease is a Finance Lease where the cost to maintain the equipment or vehicle is included in the monthly payments. The repayment may include things such as fuel, servicing, tyres, insurance, and any other costs incurred to own the equipment.

Hire Purchase

Hire purchase is similar to a chattel mortgage as the responsibilities of ownership fall with you. However, a hire purchase involves owning a greater percentage of the asset as each repayment is owned. For example, if there are 60 equal repayments, with each payment you own one-sixtieth of the asset. This means you claim 1 sixtieth of the GST (goods and services tax) with each repayment until the final payment when you own the asset.

Find the Right Equipment Finance Solution for Your Perth Business

PDF COVER For download resource

Can you afford to not ask the right questions when considering the equipment you need for your Perth business?

Asking the right questions makes all the difference when it comes to exploring the options available and saving your business money. This is what we do at Whiteroom Finance. You should always consult your accountant and broker before deciding on the nature of equipment funding.

Download our guide to equipment finance. The handy guide will walk you through all the questions you need to ask when considering the finance options for your Perth business.

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Leasing Calculator

The leasing calculator will help identify the monthly repayments you will be required to make depending on the cost of the asset.

Business Equipment Finance - Case Study

We recently assisted a client to purchase a new machine for their engineering workshop in Perth. They had been outsourcing their machining needs for some time but demand had grown and the cost of outsourcing exceeded the cost of acquiring the plant and providing the service themselves.

A suitable asset was identified in NSW and funding sought but during the process, the client discovered the plant couldn’t operate without a dedicated generator, so a second loan was sought to purchase one. Both equipment loans were increased slightly to cover the cost of freight.

The equipment loan type meant the client didn’t need to contribute any payment upfront. It also allowed us to arrange for the GST to be repaid in full after 4 months. This meant the client didn’t have to find the cash to pay GST upfront but could defer until they received their ITC (input tax credit), further assisting them to acquire the asset without strain on cash flow.

Overall, the client acquired a new plant without any immediate impact on cash flow. The acquisition reduced costs of outsourcing, improved efficiency and grew revenue by allowing them to offer expanded services to their clients.

(Disclaimer: details including amounts and repayments are demonstrative only, funding is always subject to lender decision and terms)

Our Partners

Our clients range from single-operator businesses to large commercial enterprises. For these clients we have funded:

  • Crushing and screening plant
  • Underground plant
  • Customized trailers
  • Trucks and trailers
  • Van fit outs
  • Aircraft
  • Caravans
  • Boats
  • Cars

Our extensive panel of equipment finance providers include specialist financiers, second-tier lenders, and the major lenders

Testimonials

Chris' strong background in finance/banking is evident. Not only is he able to structure a finance deal so that it is attractive to the lenders, he follows up with the banks continually to get a speedy and positive result. I was never left wondering as he always kept me updated with the progress. I absolutely recommend Chris. Excellent knowledge and service.

Debbie Pech

Chris was a great help with our latest finance needs. Got a good deal and in the time frame needed.

Kraige Cooper

They really do have customers best interest at heart. Quality over quantity, results driven and good old fashioned personalised customer service to ensure client retention. Great business!

Scott Parry

Is Equipment Finance the Right Solution for Your Perth Business?

At Whiteroom Finance, we get to know you and your business by asking you and your advisers the right questions. That’s why we can recommend the appropriate equipment finance solutions. Potentially, saving you thousands or helping you make more.

Can you afford to not ask the right questions when considering equipment finance for your business?

Download our guide to equipment finance. The handy guide will walk you through all the questions you need to ask when considering if equipment finance is the right option for your Perth business.

PDF COVER For download resource