Buying the right business asset can help you deliver more work, improve productivity and grow with confidence. Uniko Capital helps tradies, contractors, professionals, farmers, transport operators and Australian businesses explore asset finance and equipment finance options for eligible business assets, subject to lender criteria.
The right equipment finance structure is about more than the advertised interest rate. Compare the total amount payable, establishment and ongoing fees, repayment frequency, loan term, deposit, balloon or residual amount, ownership position, GST treatment and early payout conditions. We explain these important points in plain language so you can make a more informed business decision.
From Mulgrave and South East Melbourne to Dandenong, Clayton, Springvale, Noble Park and Glen Waverley, our team can help you start a conversation about equipment finance Melbourne businesses can understand. We also assist with enquiries from Victoria, regional Australia and businesses Australia-wide.
We start by understanding the asset you need, how it will be used, the purchase price and your business cash flow. We then discuss the information a lender may require and help you compare the finance structure before you decide whether to proceed.
We discuss the asset, supplier, purchase price, intended use and whether the equipment will support your trade, farm, office, project or business operation.
We help you understand the rate, fees, repayments, ownership position and documents a lender may require before you decide to apply.
For business asset finance, the lender may consider ABN and time in business, turnover, cash flow, existing commitments, credit history, deposit, asset age, condition, value and intended use. Self-employed applicants may also be asked for tax returns, BAS, business financials and bank statements.
Review the interest rate, establishment fees, ongoing fees, loan term, repayment frequency, balloon or residual amount and early payout conditions before accepting an offer.
Have identification, ABN details, income or business evidence, bank statements, existing liabilities, supplier invoice and asset details ready for lender assessment.
Budget for repayments as well as insurance, registration, servicing, repairs, software, operator costs and other asset running expenses.
Asset and equipment finance can be structured differently for business vehicles, plant and machinery, technology, trade tools and specialist equipment. We can discuss eligible new or used assets for construction, agriculture, transport, logistics, manufacturing, medical, hospitality, retail, professional services and trades businesses, subject to lender policy.
Business applicants should also consider asset ownership, GST, depreciation, insurance, maintenance, PPSR registrations and the effect of repayments on working capital. Tax treatment depends on the asset, business use and finance contract, so ask your registered tax adviser or accountant before signing.
Asset and equipment finance is funding used to buy, lease or refinance eligible business assets such as machinery, tools, technology, vehicles or specialist equipment. The asset, business or other security may support the finance, depending on the lender and contract.
A chattel mortgage is a business finance arrangement where the business generally takes ownership of the asset while the lender records security over it until the contract is repaid. Terms, GST treatment, deductions and eligibility depend on the contract and business circumstances.
Under a finance lease, the financier generally owns the equipment and the business makes scheduled lease payments. End-of-term options, residual value, GST and ownership consequences depend on the lease contract and should be reviewed with an accountant.
Hire purchase generally involves the business using the equipment while making scheduled payments, with ownership transferring after the required payments or final amount under the contract. Check the total cost, GST and end-of-term conditions before proceeding.
New and used equipment finance may be available for eligible assets, subject to lender rules about age, condition, value, supplier, serial numbers, valuation and intended business use. Private-sale equipment may require additional checks and documents.
Eligible assets may include earthmoving and construction machinery, forklifts, agricultural equipment, trailers, tools, compressors, generators, commercial kitchen equipment, medical equipment, office technology, software-related hardware and manufacturing equipment.
Self-employed applicants and tradies may be able to apply, subject to lender policy. Common information includes ABN history, business bank statements, BAS, tax returns, financials, asset invoice, existing debts and evidence of repayment capacity.
Buying may provide ownership and flexibility, while leasing may reduce the upfront cost and help with upgrades. Compare repayments, total cost, maintenance, ownership, tax treatment and what happens if you no longer need the asset.
A PPSR search can help identify registered security interests over valuable second-hand equipment. Check the correct serial number or seller details and obtain professional advice where needed before completing a private purchase.
Contact the lender as soon as possible and ask about its hardship or assistance process. Do not wait for arrears to build up. Review the contract and seek qualified financial, legal or accounting advice about your options.