Business.Finance supports businesses to stay across the latest operating systems with specialist services to secure affordable IT equipment finance. Businesses rely heavily on their computer-driven systems for operations, administration, financials, data storage, record keeping, communications, security and in many industries, entire production processes. But to maintain high levels of efficiency, output and productivity, many systems require regular upgrading. A process which can be complex and costly.
With our access to specialist lenders and expertise in structuring complex lending arrangements, our services provide businesses with funding for a wide range of computer and technology assets at highly competitive rates and workable terms. Our comprehensive selection of credit facilities includes options to cover both asset and non-asset items, allowing business owners to fully-finance a complete system comprising software, hardware, installation, commissioning and even staff training.
Credit Facilities for IT Equipment Finance for Hardware
Hardware forms the basis of many computer-operated systems and, in most instances, is considered an asset. These physical parts of a system can include the full range of desktops, scanners, printers, laptops, mainframes and networking hubs and can be financed with asset acquisition credit facilities.
Hardware is financed with the business operator’s choice of Leasing, Chattel Mortgage, Rent-to-Own or Hire Purchase. Depending on the individual business requirements, we can work towards securing loans for individual items or a comprehensive finance package for all the hardware items required for the system upgrade.
Our asset acquisition credit facilities all feature fixed interest rates. So even if the RBA does decide on a rate rise, the rate and repayments on the IT equipment finance will remain unchanged over the fixed term.
Loan Options for IT Software
The software components of IT systems can require special consideration when IT equipment finance is required. Depending on whether considered an asset or non-asset, purchased as part of a complete system form one supplier, or acquired separately, can determine the type of credit required to finance the expense.
When deemed an asset suitable for collateral, the same finance products as used to finance hardware may apply – Leasing, Chattel Mortgage, Rent-to-Own and Hire Purchase. Where regular upgrades are required, Leasing can be a popular choice for many businesses.
If acquired as an entire package from one provider, the software may be financed, along with the hardware, in one loan package, strategically structured by our experts to deliver the most workable outcome.
Where deemed a non-asset expense, we offer businesses a choice of a number of options. An Overdraft sourced through our non-bank lenders can provide a flexible IT equipment finance solution for software components. Payments can be made to suit cash flow.
Another option is a Business Loan, either secured or unsecured. A Secured Business Loan offers a better interest rate than an Overdraft, and schedule fixed monthly repayments to allow for budgeting over the fixed term. Assets other than the software being financed may be provided as collateral, subject to lender guidelines.
Due to the variations in software requirements across businesses and industries, it is advisable to discuss your specific purchase and the best loan solutions we can provide, with one of our IT finance experts.
IT Equipment Finance Solutions for Installation, Training and Extras
While a tech update or upgrade for some businesses may primarily involve new desktops, other businesses require complex systems. Systems that involve extensive installation and possibly staff training. Both of which can be significant expenses.
With our comprehensive and inclusive selection of credit facilities, we can provide solutions to finance all elements of the system. In a similar way to financing the software components as discussed above, loans for installation and training will depend on the way they are purchased.
The options can include incorporating these expenses in a complete IT equipment finance package, or providing separate business loans, secured or unsecured, or line of credit facility to cover the costs. Speak with one of our brokers for a quote on the most cost-effective package we can secure for your individual requirements.
Planning IT Equipment Finance
To assist with the planning and budgeting stages, we provide an extremely useful and easy to use finance tool – our Finance Calculator. This can be used to calculate estimates on all types of business loans. Varying the figures entered can assist business owners to plan how they would like their loan structured and allow them to quickly see estimated repayments for budgeting purposes.
Use the calculator to compare system quotes you have received from different suppliers to quickly see how each relates in monthly repayment estimates. When using the calculator, remember to input the correct interest rate for the credit facility selected.
System crashed? Get Fast Approval for IT Equipment Finance
When a tech system crashes or becomes compromised, we appreciate the urgency in getting it replaced asap. Our fast 24 hour loan approval service allows business owners fast access to the finance required to purchase new tech systems.
Whatever your IT equipment finance requirements, contact Business Finance on 1300 000 033 for individually sourced and tailored loan solutions.
DISCLAIMER: THE SPECIFIC PURPOSE IN PROVIDING THIS ARTICLE IS FOR GENERAL INFORMATION ONLY. IT IS NOT INTENDED AS THE SOLE SOURCE OF FINANCIAL INFORMATION ON WHICH TO MAKE BUSINESS FINANCE DECISIONS. BUSINESS OWNERS WHO REQUIRE ADVICE OR GUIDANCE AROUND THEIR SPECIFIC FINANCIAL CIRCUMSTANCES ARE RECOMMENDED TO CONSULT WITH AN ADVISOR OR ACCOUNTANT. NO LIABILITY IS ACCEPTED IN REGARD TO ANY MISREPRESENTATIONS OR ANY ERRORS RE ANY DATA, SPECIFICS, POLICIES AND OTHER INFORMATION AS SOURCED FROM OTHERS.
