A business equipment lease can add considerable value to a small to medium sized business. Whether it be for restaurant equipment, cars or trucks, salon and beauty equipment, excavation equipment or retail fitout, the ability to secure this form of finance can be of great importance when looking to expand.
Its often only when you come to needing finance that owners of small to medium sized businesses wish they had been more conscious of keeping accurate and up to date financial records. Many business owners are so immersed in the day to day running and operations of their businesses that the administration side of their operation suffers.
In our experience their are a number of industries where this tends to be more common. Those who operate in the excavation and hospitality industries are amongst the main culprits. Many of these businesses are ‘one-man shows’ and its extremely difficult for these people to find the time to keep their accounts in order. While the ability to maintain accurate records is of great importance in any business, its now possible for business owners to secure finance with little or no financial documentation. Our Express No Doc Business Solution product is aimed at the business person that wants to grow their business but for one reason or another just can’t produce the necessary documentation to satisfy mainstream lenders. Whether it be an equipment lease, rental, or commercial hire purchase – we have an ability to assist.
The productivity of many businesses today is so dependent on having the latest equipment. Without the right equipment a business can go under very quickly as customers or contracts move to suppliers who can cater for their needs more quickly and efficiently. The right equipment can also have significant cost savings in a business as there is the potential for it to replace manual labour or produce larger outputs in a smaller time. The purchase of new photocopier was a recent example for one of our clients. They replaced a copier that was 10 years old with one of the new range of copiers. The copier increased output by 60% and reduced the manual involvement of employees in the office, freeing them up to work on more productive tasks.
While interest rates are very important in determining overall affordability, make sure you are factoring the costs to your business in retaining the equipment you currently have. Lo Doc finance options, while perhaps being a little more expensive, can keep your business afloat enabling you to complete more effectively in an ever changing market.