Equipment Finance at Affordable Rates

If you need to make a large capital purchase to continue or grow your business, don’t let funding stand in the way. We can help you get a business equipment loan or lease in as little as 2 days at the best possible rates and terms. Whether you need machinery, computers, vehicles or more, we handle it all. Asset & Equipment leasing is a great way to get the funds you need now.

Getting a traditional bank loan can be complex and time-consuming. In contrast, Merchant Cash can help fund new small business loans for vehicles and equipment in as little as 2 days, even if you don’t have good credit. We can provide equipment leasing for all types of business machinery, vehicles, technology and solar panel installations.

Vehicle Lease

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Equipment Lease

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A finance lease is a form of a rental agreement because the lessor owns the asset. At the end of the lease you have the option of purchasing the asset (for a residual amount agreed up front), trading in for new equipment or simply terminating the lease.

There is a risk that at the end of the lease the asset will be worth less than the residual value. One of the advantages of a finance lease is that Merchant Cash pays the GST component which makes your payments lower.

This type of lease is ideal for equipment such as technology that needs regular replacement. It is similar to a finance lease but the risk of the market value being lower than the residual value is with Merchant Cash, not with you.

At the end of the lease period, you simply return the goods to the financier. In this type of lease the equipment is not listed as an asset on your balance sheet and therefore you cannot claim depreciation. You can however claim the lease payments as a tax deduction.

A “Chattel” is a moveable asset (i.e. anything other than real estate). With a chattel mortgage you own the equipment from the beginning of the lease term.

With a chattel mortgage, only the interest component of the lease payments are tax deductible – but you can also claim a deduction for the depreciation of the asset. In addition you can claim a credit for the GST component on your BAS statement.

A hire purchase is a loan, but generally does not have a deposit and you will always own the equipment at the end of the hire purchase term.

Payments will include GST which you can claim as a credit on your BAS together with deductions for the interest component and depreciation of the asset.

How business equipment loans and leases work

Getting a business equipment loan or lease can be a short, streamlined way to finance up to 100% of the value of the computers, machinery, vehicles or other equipment you need.

Terms will vary depending on the expected useful life of the asset; you keep the equipment and make regular payments for the term of the small business equipment loan or lease. If it is a lease, at the end of the lease period you will have the option to purchase the asset. Most of our asset leases do not require any deposit – so you can fund 100% of the asset cost.

Do you qualify for an equipment lease?

Most businesses qualify for an equipment loan or lease. Even if you do not have other security, the asset you are purchasing or leasing can be its own security. How much you qualify for – and the size of the payments – depends on the value of the equipment, your business history, and your credit rating.

Even if your credit rating is less than perfect, one of our equipment finance specialists will be able to help you secure the best possible terms.

ADVANTAGES OF EQUIPMENT FINANCE

  • Quick access to funds.
  • Limited paperwork required.
  • Loan secured by equipment.
  • Lower costs relative to other forms of funding.