Equipment & Asset Finance

Could your business benefit from fast and flexible finance to fund growth? Whether you need truck finance, vehicle finance, office, medical, plant, farm equipment, or a new fit-out, Cabbage Capital can provide quick and cost-effective ways to finance the assets you need to expand. We’ll find the most competitive offer, structure payments around your cash flow, and make sure you can take advantage of the tax and depreciation breaks you’re entitled to in consultation with your accountant.

Equipment and assets are items of property with intrinsic value, like vehicles and machinery. Businesses generally use them to assist their day-to-day operations. 

Equipment and Asset Finance are loans you can use to purchase new or used equipment and keep your business up to date with vital equipment. It could be for large-scale capital items, like trucks, farming, construction, or production equipment. Or it could be used to purchase the machinery, tools, or IT equipment your business needs to produce its goods or services.

Finance assets to drive your business:

• Cars, utility vehicles, and vans
• Trucks, trailers, and buses
• Agricultural equipment
• Construction and access equipment
• Computers and IT equipment
• Commercial premises fit-outs
• Manufacturing equipment 
• Medical equipment

No other collateral required

With Asset Finance, you don’t need to put up other assets or property as security. The equipment or vehicle itself serves as collateral for your loan. If you cannot meet repayments, the lender will take ownership of the equipment or asset financed.

Maintain cash flow

Asset finance lets you purchase new vehicles, machinery or equipment and pay them off over time. This allows you to expand your business or upgrade equipment without your working capital being tied up.

Boost efficiency and productivity

Old equipment, machines, or vehicles often require more servicing, maintenance, or repairs, increasing costs and reducing productivity. Upgrading to newer models and current technology enables you to increase output and profitability.

Tax benefits

You may be eligible for tax deductions on the purchase price of equipment, depreciation of its value over time or government stimulus schemes such as an instant tax write-off of the asset’s value. You may also be able to claim the credit charges or interest component of an equipment finance loan as an operating expense.

Cabbage Capital can provide various finance solutions to update, expand, or unlock potential from cars to trucks, industrial machinery, agricultural vehicles, retail, or hospitality fit-outs. We can secure the ideal option to answer your requirements. See our range of Equipment & Asset Finance options below.

Chattel Mortgage

A Chattel Mortgage is a finance agreement where the finance provider will provide funds to purchase an asset and accepts the asset itself as the security for the loan. Chattel refers to the car or equipment, and mortgage refers to the loan. It’s similar in structure to a conventional fixed-rate home loan or mortgage. This kind of loan gives you ownership of the asset, and then you pay off the loan from the income the asset generates in your business.

Commercial Hire Purchase

Hire Purchase is an agreement where the lender will buy the equipment from the seller. You then buy it from them in installments over an agreed period. On the final payment, asset ownership gets transferred to the business. This option is suitable for assets with medium value and lifespan, such as power tools, commercial kitchen equipment, or vehicles.

Finance Lease

Finance leases are used by businesses that require the latest equipment without tying up a considerable amount of capital. With a finance lease, your lender (lessor) will purchase the equipment directly from the seller and then rent it to your business (lessee) for the duration of the agreement. At the end of the lease, you can return the asset to the lender or purchase it for a predetermined amount (residual value).

Operating Lease

An Operating Lease is an agreement in which the lender purchases the asset on your behalf and then rents it back to you in exchange for regular lease payments. Often the lender will be responsible for the maintenance and service of the asset. At the end of the lease term, you can return it to the lender, enter an extended lease term, or purchase it from the lender at market value. It’s a good option for low-value equipment and technology with a short life span and quick obsolescence, such as IT and telecom equipment.

Asset Finance makes purchasing big-ticket items more accessible and lets you benefit from the asset as you pay for it. Plus, your capital is not locked up in a large purchase that may depreciate in value.

This kind of funding is ideal if you require assets but don’t want to, or can’t, make a large cash payment to buy outright. Instead, you get to spread the cost over time. You make smaller, regular payments over a fixed term. And you get full use of the asset over the term.

A finance provider will lend you money to purchase the equipment you need. The lender will take security on the equipment you buy so that if you do not repay the loan, they can take the equipment back and sell it to compensate for the loss.

Source finance

Talk to us to find the best finance option for your business needs.

Begin your application

We can begin the application process over the phone or in person at your premises.

Submit documents

We’ll help you get your crucial information in order and finalise the required documentation. If you’d like to book a meeting to discuss your needs or start a finance application, leave your details, and we’ll get back to you within 24 hours. Alternatively, call Brin at 0418 574 655. 

All lenders require certain criteria to be met in order to be eligible for an equipment finance loan. The list below is not exhaustive, however it will give you a good understanding of the minimum requirements.

• A valid ABN (Sole trader, Company, Trust or Partnership)
• More than 12 months in business
• The asset(s) to be financed will be used primarily for business purposes
• No threat of bankruptcy

Lenders require documentation to assess your eligibility as a borrower. How much documentation you’ll need to supply depends on the lender, type of finance, loan amount and asset type but the standard documents required are:

• Client profile
• Proof of Identity
• Privacy & Consent form
• Description of goods to be financed
• Reason for the purchase

Our founder and principal broker, Brin Hayden, brings over 20 years of experience in the commercial sector, focusing on solutions for small to medium enterprises to provide a real impact.

“I take the time to understand your business and develop a solution that works in your best interests. Because we’re smaller and leaner, you won’t be paying for the overheads of an army of consultants. And we don’t apply a one size fits all approach. 

Unlike banks or single product providers, I don’t apply a one size fits all approach. I bring in-depth knowledge of the lenders, options, and facilities open to you. I’ll source finance from our network of 30+ lenders competing for your business. We’ll shop around to identify and source the ideal package and arrangement for your requirements. And then negotiate the best rates and terms on your behalf.”

We can provide fast and cost-effective ways to finance the equipment and assets you need to expand. We’ll prepare your application to secure the optimal loan structure and terms for you and your business.