After a very, very long time, Australia’s international borders are open and the tourism sector is welcoming back visitors, tourists and the all-important workers It’s been a very challenging time for travel and tourism operators specifically and all those business associated with the sector. Is your business ready and equipped to take full advantage of the return of our international tourists? You may need to invest in new or upgrade equipment to be competitive and make the most of the opportunities. Cost-effective tourism sector equipment finance is available for businesses to upgrade and renew facilities to welcome back international visitors.
The scope of businesses set to benefit from the opening of international borders is vast. Tourism operators, hospitality business, support services, travel planners and agents, transport operators and even food production and distribution are set to benefit from increased visitations.
In addition to a downturn in visitors, many businesses in the tourism and hospitality sectors have also been hamstrung by staff shortages. Holding them back from full operations and with that level of uncertainty, they have delayed investing in developing their operation with equipment acquisitions.
Well the timing is now looking good to invest in business equipment on several fronts – to cater for the increase in business and with low interest rates on finance not expected to last much longer. Add to that the opportunity to realise the tax benefits of temporary full expensing in this financial year!
A range of finance options is available for the tourism sector for the purchase of a wide range of equipment at cheap interest rates through Jade Equipment Finance.
Equipment and Machinery Financed
The types of equipment which we provide finance for is vast and inclusive. Essentially if procuring equipment or machinery to use in a business, then finance is available.
- Computer and IT equipment to upgrade booking systems.
- Furniture and furnishings to renew venues.
- Kitchen and catering outlet equipment to expand the menu or renew the offering.
- Entertainment venue equipment such as sound and lighting systems and staging.
- Amusements rides and attractions for fun parks and holiday parks.
- Visitor way-finding and directional equipment such as barricades, ticket kiosk equipment and safety measures etc.
- Upgrade accommodation with new bedding and bedroom furniture.
- Forklifts and materials moving machinery.
- Food processing machinery.
- Scuba and water activities equipment.
Tourism Equipment Finance Products
Jade Equipment Finance offers the complete portfolio of finance products for the acquisition of business equipment. These include:-
- Commercial Hire Purchase
- Lease
- Chattel Mortgage
- Rent-to-Own
The interest rate, treatment of tax, balance sheet approach and accounting method suitability vary with the type of finance. Business operators are strongly advised to refer to their accountant when deciding which type of finance will result in the optimum outcome for an individual business.
Worth noting, for those interested in taking advantage of temporary full expensing with their equipment purchase, Chattel Mortgage is the most appropriate loan type.
All finance products can be secured with:-
- No deposit finance
- Terms up to 7 years
- Flexible terms and conditions
Review Equipment Interest Rates
The current lending market is extremely accommodative with the RBA holding the cash rate at the historic low of 0.1% since November 2020. But that situation is set to change in coming months at some point. Businesses can fully appreciate the cheapest rates in decades by acting now with the acquisitions.
The interest rate varies with the type of finance product. This reflects the structure and format of the loan. This can be clearly seen on our Compare Interest Rate calculator where we have detailed our current low rates across our portfolio.
To see what repayments may be on your proposed purchase, simply enter the loan amount and the estimate is auto-calculated.
Be mindful that interest rates also vary from industry to industry and on different categories of equipment. For a specific no-obligation quote, reach out to our consultants.
Interest rates also vary across the lending market as each lender will price their loans based on their risk assessment of the industry sector, their own costs and other factors. The credit profile of the applicant is also taken into account when a lender makes a finance offer.
To ensure our customers always secure the cheapest interest rate, we are accredited with a vast selection of lenders which encompasses all categories – banks, finance companies and more difficult to access non-bank lenders.
Specialist Equipment Finance Services
With many new operators entering the tourism sector, businesses may find they do not have all the financial documentation required when applying for equipment finance. To cater for these businesses, we offer Low Docs and No Docs Equipment Finance. Cost-effective solutions at attractive interest rates and loan terms are achievable even if you’re just starting out.
If the international border closures formed a barrier to you investing in new equipment for your operation, now could be the time to finally make your move.
Speak with a Jade Equipment Finance consultant on 1300 000 003 to discuss equipment finance for businesses in the tourism sector
DISCLAIMER: IF MISINTERPRETATIONS, MISREPRESENTATION OR ERRORS EXIST IN THIS ARTICLE, NO LIABILITY IS ACCEPTED. THE INFORMATION IS PROVIDED ONLY FOR GENERAL PURPOSES AND NOT IN ANY MANNER INTENDED AS THE ONLY SOURCE FOR MAKING FINANCIAL DECISIONS. THOSE THAT CONSIDER THEY REQUIRE ADDITIONAL GUIDANCE OR ADVICE SHOULD REFER TO AN INDEPENDENT FINANCIAL ADVISOR.
