7 Vital Facts "7 Vital Facts You Should Know About Equipment Finance, but Don't" 1. There is more to Equipment Finance than "just finance". Finding the right lender, the best finance structure, and putting together a complete equipment finance package requires knowledge and experience. Unfortunately, Finance Seekers naively believing anyone in the finance industry can put together an effective package for Plant and Equipment Business Finance. You need plant and equipment finance specialists who have years of industry experience, and who can look at the 'bigger picture'. They need to consider: " risk your cash-flow requirements your business structure related tax issues residual values, and more. Don' fall into the trap of believing the same organization that specializes in your housing finance will know all of the industry's quirks and idiosyncrasies when it comes to Equipment Finance. 2. A 'one size fits all' approach to Equipment Finance can lead to future hassles. Each business is unique. Whatever industry you are in, or size of your operations, you have your own specific needs and priorities. Although, despite the individuality of each business there is at least one thing that each has in common - a need to stay ahead and be on the look out for smarter ways of doing things. You need solutions which help you maximize resources now, yet allow the flexibility to capitalize on future opportunities. This not only applies to day to day business planning, but your financial requirements as well. You would be wise to research, or have an independent finance specialist check out a wide range of finance structures and lenders to ensure you find the best fit for your business needs including needs for innovative products, vehicle, plant and equipment, cash flow financing, etc. 3. An 'independent' financial specialist is your safest route to honest answers to your financial questions. Selection of the correct finance structure and therefore the most suitable lender is paramount to ensure maximum commercial benefit from your Plant and Equipment Business Finance. An independent financial specialist can find the right solution for your business, taking into account your business structure, tax and cash flow requirements and risk. As they act solely on your behalf there are no hidden agendas that will cost you in the future. A reputable specialist will look for any loopholes or not so beneficial conditions that you may miss when viewing financial documents and terms and conditions. As an independent they focus solely on you, answering your questions and seeking your financial solutions effectively and efficiently resulting in quick approvals and less stress on you. 4. There are strong benefits to having an experienced representative in the Lending Industry present your finance application for you. Just as you are a specialist in your chosen field, there are specialists who know the finance industry and others who have niched down even further to specific types of finance. With such knowledge available to you through these specialists, it almost seems ridiculous you spending needless hours researching everything there is to know about the finance you wish to apply for. Do you really need that sort of distraction from running your own business operations? If you understand the not-so flattering saying, "Why bark when youve got a dog?" then you know exactly what leaving the job for a specialist is all about. There are benefits to having a representative present your finance application, and when considering one for Equipment Finance ensure the Consultant: specializes in Equipment Finance understands your business needs takes your future business growth or planned consolidation into account compares your finance options explains what you need to know using terms that 'non-financial people' understand (there's nothing more frustrating than jargon-filled explanations does all the hard work of presenting your application to the chosen lender works with you, and for you - not the finance company! 5. There are a number of Equipment Finance solutions available to you. Often financial seekers only know of one or two avenues available to them when securing finance. As youve now discovered, a one size fits all mentality does not always work to your benefit. Below are some financial solutions you may not have been aware of. And remember, each has their own unique advantages (e.g. tax benefits) or disadvantages. Asset Lease An Asset Lease enables you to have the use of your business equipment with the benefits of ownership, while the financier retains actual ownership of the equipment. Commercial Hire Purchase Commercial Hire Purchase is a finance product where you hire the business equipment from the financier for a fixed monthly repayment over a set period of time, and ownership transfers after the last installment is made. Chattel Mortgage Under a Chattel Mortgage you take ownership of the equipment (chattel) at the time of purchase and the financier uses the goods as security till last payment is made. Equipment Renta - Operating Lease Equipment Rental is an agreement between you and a financier, whereby the financier buys the equipment on behalf of you and rents it back to you under contract agreement. Your Equipment Finance Specialist will help you determine which solutions will best suit your needs. 6. You can finance just about anything for business use. This list includes: Trucks and Heavy Vehicles Motor Cars and Motor Cycles Earthmoving Equipment Industrial Plant and Machinery Aircraft Marine Vessels and Boats Agricultural and Farming Equipment Computers, IT and Phone Equipment Fit-outs for Commercial Offices, etc. Healthcare, Scientific and Medical Equipment New Business Start-Up Cash Back for Investment Cash Flow Finance 7. Even if you have a Non Conforming Credit History, you still have options available to you. Sadly, too often small business is largely ignored by the business finance industry, simply because they don't fit the 'financial applicant norm'. This attitude turns small business away from applying for credit and therefore stunts potential growth in the long term. If your business falls into the category of not fitting the norm, don't be deterred from getting the financial assistance you need. An independent Plant and Equipment Business Finance Consultant will do their best to help you. Who knows, they may be able to find the finance option that the others can't... long after the mainstream lenders stop talking to you. If you are responsible for securing your company's Equipment Finance, you know just how daunting a challenge it can be. Now with just a click of your mouse, you can get all the help you need. Whether you need a specialist in Plant and Equipment Business Finance, or you simply want to ask some questions about finance, you'll fine what you need at All Equipment Finance.