Replacing machinery or purchasing equipment for your business? FI Collective helps you explore funding options suited to the asset and your operating needs.
Equipment finance can spread the purchase cost, but the repayments still need to fit your business budget. Consider how long you expect to use the equipment, ongoing operating costs and any end-of-term payment.
We’ll discuss the proposed purchase and help you understand what lenders require. Where appropriate, your accountant can help assess the financial and tax implications alongside the lending options.
Review the proposed equipment purchase and timing.
Compare suitable repayment structures and terms.
Help prepare supplier and business information for the application.
Replacing machinery or adding equipment can change how your business operates. Before committing, consider the capacity you need, expected usage and whether the purchase will support existing work or planned growth.
The purchase price is only part of the budget. Delivery, installation, training and maintenance may add to the cost, and not all expenses will be included in the finance. Repayments also need to remain manageable during quieter periods or downtime.
FI Collective helps you explore suitable options through our lender panel, considering the equipment and your business circumstances. We’ll explain the finance requirements so you can coordinate your purchase with the supplier and plan for the costs involved.
You can discuss finance early and establish what information is required. Obtain confirmation of finance before making a commitment that depends on it.
Most business equipment can be, from workshop tools and IT systems through to heavy plant and agricultural machinery. Asset age, condition and resale value determine which lenders will consider it. Send through the specifications and we will identify the options open to you.
Some lenders offer repayment arrangements that account for seasonal cash flow. Availability depends on the finance product, your business’s trading pattern and the lender’s assessment. We can help you explore whether a suitable structure is available and explain how it affects the payment schedule and total cost.
Some lenders will consider private sales, subject to checks on the machinery and seller. They may require proof of ownership, equipment details, a valuation or inspection, and confirmation of any existing finance. Speak with us before committing so we can clarify the lender’s requirements for the proposed purchase.
Not sure where to start? Tell us what you’re planning, and our team will help you understand your finance options and what comes next.
