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Cheap Manufacturing Equipment Finance

The coronavirus pandemic has placed the manufacturing sector into the spotlight. During the health phase of the crisis, businesses responded to need and call-outs to pivot from producing their usual products which weren’t in demand to products which were in high demand and in many cases, in great need. Alcohol manufacturers pivoted to producing sanitisers, there are examples of staging companies manufacturing desks for the work from home market, engineering companies developing ventilators, clothing manufacturers producing hospital gowns and general manufacturers producing hospital beds.

In the post-pandemic phase, the focus has shifted to building Australia’s sovereignty by developing local manufacturing. The Hon Karen Andrews, Minister for Industry, Science and Technology delivered a speech to the National Press Club on 20 May 2020 where she discussed the Australian manufacturing sector and how the government would be supporting the industry. She discussed how industry had the capability but needed a change in the culture of how we think about that capability.

In encouraging signs for the sector, Minister Andrews said that manufacturing was front and centre in the government’s economic agenda. In particular the government would be focussing on local suppliers in procurement.

But for businesses, the key to growing their manufacturing business is having access to affordable equipment finance for asset acquisitions. As a professional plant and equipment finance broker Australia, Jade Equipment Finance brings that accessibility into the scope of all manufacturing businesses.

Equipment Finance Options

Jade Equipment Finance specialises in finance for equipment across all industry sectors and is particularly focussed on supporting manufacturers through the post-pandemic recovery with cheap equipment finance deals.

While many areas of the financial sector have been impacted by the coronavirus crisis, we have continued to operate as business as usual to support our customers and have maintained in constant communications with our lenders. So we are fully across which banks and lenders are offering the best equipment finance deals at all times.

The current low equipment interest rates has enabled us to offer even cheaper deals for our customers and we see that continuing for some time.

For the purchase of manufacturing equipment, we offer clients a choice from the full range of commercial finance products:-

  • Equipment Leasing
  • Equipment Commercial Hire Purchase (CHP)
  • Chattel Mortgage for Equipment

Each product features different benefits and advantages based on the accounting method that your business implements, the treatment of GST, tax deductibility and depreciation. It is advised that you speak with your accountant to decide which particular product is most suited to your needs.

Manufacturing the Cheapest Deals

As finance brokers, Jade Equipment Finance is completely independent and is working in your best interests. So your consultant is focussed on structuring your equipment finance to specifically meet your business objectives.

Our cheap interest rate policy is at the centre of all our equipment loans and we build the finance deal around those cheap rates. The interest rate is fixed for the term of the finance so you can easily factor the expense into your operational budgets and forecasts.

Your consultant will discuss the most suitable loan term-repayment structure to suit your business. Longer loan term results in lower monthly repayments but takes longer to pay off the equipment. A shorter term translates into higher monthly repayments but the equipment is owned sooner.

Varying the balloon or residual can also change the repayment amounts. Residuals with leasing are determined by authorities and some lenders will have guidelines around residual and balloon values. However, there is some flexibility and having your Jade broker negotiate your deal enables this type of flexibility.

When arranging equipment finance, we advise our clients to consider any and all additional expenses around the purchase that may be able to be included in the loan amount. These may be delivery charges, installation and commissioning costs or training expenses for your staff. Including these in the overall loan may ease pressure on your cash flow right at a time when you need the extra flexibility.

Your Jade consultant will work with you to structure your equipment finance in a way that will work to deliver the best ROI for your business and ensure your business can capture the opportunities that emerge for Australian manufacturing.

Contact Jade Equipment Finance 1300 000 003 and discuss your manufacturing equipment requirements with one of our highly trained consultants.

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