Equipment Finance
At SME Business Finance, our Equipment Finance solutions are meticulously designed to fuel your business’s growth. Supported by a vast network of over 40 reputable lenders, we ensure rapid access to the additional capital you need, often within a mere 24 hours. Our expert team excels in crafting customised financing solutions that precisely align with your unique business needs. Explore the unique benefits of SME Business Finance and equip your business with the ideal financial support to drive it to new heights.
What is Equipment Finance?
Equipment Finance, meticulously crafted to elevate your business’s financial prowess. This custom financing solution stands as a steadfast companion, bolstering the operations of small and medium-sized enterprises (SMEs) as they navigate their daily demands and seize opportunities for growth. It acts as a dependable financial cushion, ensuring that your business always has the necessary funds on hand to cover expenses, procure vital equipment, and capitalize on unexpected prospects. At SME Business Finance, our Equipment Financing solutions are engineered with your business’s success as the top priority, offering the financial flexibility SMEs require to effectively manage their finances and propel their business towards success.
Comparing Secured v Unsecured Business Loans
Comparing Secured and Unsecured Business Loans
When it comes to business financing, two main avenues exist: secured and unsecured business loans.
Secured Business Loans: These loans demand collateral, often in the form of property or occasionally equipment and other tangible assets. The upside? Secured business loans typically offer lower interest rates since the lender has a safety net in the form of collateral. However, it’s important to note that in the event of non-repayment, the lender reserves the right to claim the assets securing the loan as a means of recovering their investment.
Unsecured Business Loans: In contrast, unsecured business loans do not require collateral. Instead, eligibility is determined based on your creditworthiness and business revenue. The trade-off for this flexibility is that unsecured business loans generally come with higher interest rates,a reflecting the increased risk undertaken by the lender. Additionally, the loan amounts may be somewhat restricted compared to their secured counterparts.
How much can you borrow with Equipment Finance?
When it comes to accessing crucial financial support for your business, our Business Overdrafts open the door to a maximum borrowing capacity of up to $5 million. This substantial credit line equips you to expertly navigate financial fluctuations, address immediate needs, and capitalize on opportunities as they surface. Whether it’s tackling short-term expenses, managing cash flow, or seizing that game-changing moment, our Business Overdrafts offer the flexibility and liquidity your business requires to prosper and flourish.
Who is eligible for Equipment Finance?
The minimum eligibility requirements for small business loans include:
- Australian citizenship or permanent residency
- An active ABN or ACN
- At least six to 12 months of trading history
- Minimum $10,000 monthly revenue
- The ability to provide financials or bank statements
- A good credit score — the minimum credit score for business lending is around 400.
Let's get your Equipment Finance application underway!
2023 – SME Business Finance
Get the funding your business needs quickly and effortlessly with SME Business Finance. Our expert team and extensive panel of over 40 lenders are here to make your financing journey as straightforward as possible. In just 24 hours, you could have the funds you require to propel your business forward. Experience the simplicity of SME Business Finance today.