Yes, most 2nd hand equipment is able to be financed, however, the age and class of the equipment may impact the term and structure of the loan and in some very rare cases preclude funding.
Yes, payment terms are usually monthly in arrears, however they can be restructured to better suit your cash flow. For example, businesses in agriculture and other seasonal based industries, are paid annually, so their repayment period can be structured to suit. In most cases, we can finance the GST inclusive price and you can pay the GST as a lump sum when you receive the benefit via your monthly or quarterly BAS.
The contract terms are flexible and generally range from 2-5 years with a balloon/residual payment if required. In rare cases, loans can be extended to 7 years and sometimes up to a maximum of 10 years dependent upon the type and class of asset.
Security for equipment is generally standalone against the equipment itself as well as directors guarantee. No other collateral security or GSA is required.
