So you need to purchase new equipment for your business but when you receive the quotes, you don’t have enough budget to cover the costs of acquiring brand new equipment. Sound like a familiar scenario? South African businesses have been through extremely tough times in the past 2 years with many just not able to fork out the upfront investment that new equipment requires. So what is the solution? Asset finance.
Asset finance is a flexible finance model for businesses who need new equipment but cannot afford to pay for it upfront. Instead of applying for a business loan through traditional methods, a business is able to apply for asset finance and essentially rent the equipment from the asset lending company. The business enters into a short-term equipment leasing agreement with the asset rental company which affords much greater flexibility than an upfront investment in equipment.
Some of the benefits of the asset finance model includes:
- No upfront investment
- Short-term lease agreements
- Flexible payment terms
- Can upgrade equipment more frequently due to the short-term nature of lease agreements
- Less impact on your cash flow, giving you more flexibility to grow your business
- Fixed equipment costs with no surprises for more stable cash flow and better budgeting
- Medical equipment
- IT equipment
- Mining Equipment
- Agricultural equipment
- Solar power systems
Are you ready to explore the benefits of renting your business equipment? Apply for asset finance now and unlock your businesses full potential.