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Equipment-Finance
Finance lease
A finance lease provides 100% finance to acquire assets for use in your business.
Our finance lease is a rental agreement where the Bank owns the asset and you then lease it for an agreed term and rental amount.
Features
- Most depreciable assets can be financed
- Minimum finance lease amount is $10,000 over terms that range from two to five years
- Interest rate and repayments are fixed for the term of the contract
- Irregular or seasonal payment schedules can be considered to suit your cashflow
Business benefits
- Preserve your working capital with 100% financing
- If you use the asset to generate income, rental payments may be tax deductible
- You may be entitled to claim an input tax credit for rental and other charges that are subject to GST
Equipment Loan
An equipment loan (also known as a chattel mortgage or bill of sale) is a loan agreement where you borrow funds to acquire an asset. You provide security for the loan by way of a mortgage to the Bank over the asset financed.
Features
- May be used to finance most equipment that generates income
- Minimum finance amount of $10,000 and no maximum
- Loan can be structured with or without balloons, and with payments in advance or arrears
- Interest rate and repayments are fixed for the term of the loan
Business benefits
- You are generally not required to provide a deposit
- Repayments may be tailored to suit your cashflow
- You don’t pay GST on the loan or the repayments
- You retain ownership of the asset throughout the term of the loan
- The interest component of the payments and the depreciation on the asset may be tax deductible, provided you use the equipment to generate assessable income
Equipment Import Finance
Equipment import finance is a working capital solution that provides for all your trade and related asset finance requirements. It is suitable for businesses that need to invest in capital equipment or that require a combined facility offering foreign exchange, import finance and asset finance solutions.
The equipment import finance facility includes:
- Import documentary credit
- Trade advances
- Hire purchase
- Equipment loans
- Finance leases
Business benefits
- Provides for all aspects of manufacture, import, commissioning, payment and long-term asset finance
- Facilitates payment to offshore manufacturers in any approved currency
- Allows foreign exchange and interest rate hedging
- Provides certainty of pricing
Who does it suit?
Equipment import finance could suit your business if you:
- Need capital equipment and investment
- Require a combined facility offering foreign exchange, import finance and asset finance solutions
- Can provide security for the facility
Operating Lease
An operating lease is an agreement between you and the Bank to rent equipment for use in your business for a fixed period. It can be an efficient and cost-effective financing strategy if you are continually upgrading your vehicles and equipment, or if you want to rent rather than own your asset.
At the end of the lease period, you simply return the equipment to the Bank (subject to return conditions), without the liability of a residual value.
Features
- Most depreciable assets can be financed
- Minimum operating lease amount is $10,000 over terms that range from two to five years
- Provides access to the latest equipment and technology without the associated risks of ownership
- Interest rate and repayments are fixed for the term of the contract
Business benefits
- Preserve your working capital with 100% financing
- Guards against obsolete equipment and offers the flexibility to respond to changing market demands
- Takes away the worry of disposing of obsolete equipment in a potentially weak resale market
- Lease rental payments may be off-balance sheet, providing scope to improve business performance ratios such as return on assets
- If you use the asset to generate income, rental payments may be tax deductible
- You may be able to claim an input tax credit for rental and other charges that are subject to GST
Equipment Loan
An equipment loan (also known as a chattel mortgage or bill of sale) is a loan agreement where you borrow funds to acquire an asset. You provide security for the loan by way of a mortgage to the Bank over the asset financed.
Features
- May be used to finance most equipment that generates income
- Minimum finance amount of $10,000 and no maximum
- Loan can be structured with or without balloons, and with payments in advance or arrears
- Interest rate and repayments are fixed for the term of the loan
Business benefits
- You are generally not required to provide a deposit
- Repayments may be tailored to suit your cashflow
- You don’t pay GST on the loan or the repayments
- You retain ownership of the asset throughout the term of the loan
- The interest component of the payments and the depreciation on the asset may be tax deductible, provided you use the equipment to generate assessable income