BUSINESS FINANCE / ASSET FINANCE
Asset Finance that keeps you ahead of the pack.
From daily routine to growth machine.
What is Asset Finance?
Asset Finance refers to a type of financing that allows your business to acquire new or pre-owned assets without making an upfront payment. By obtaining reliable funds to purchase or lease tangible assets such as machinery, equipment, vehicles, plant or technology, businesses without access to working capital can still grow and scale.
Do you need to upgrade old equipment or invest in something new?
ScotPac’s asset financing allows businesses to fund equipment, vehicles or plant they need. This allows our clients to capitalise on market opportunities and best grow their business. With incredibly flexible solutions that can be tailored for the business and circumstances in question, our business asset finance will ensure your future success!
Our asset loans and funding options can even be made available when other banks won’t fund you, ensuring you’re still able to enjoy flexible terms (up to 5 years) and highly competitive rates. In fact, with funding available in as little as 24 hours, there’s almost no delay!
No matter what asset you need funding for, ScotPac can help!
Our wide range of highly customisable finance solutions have helped small and medium enterprises across many industries fund their growth and new equipment.
What are our customers saying about us?
For us, the real advantage of invoice finance is that we can offer longer payment terms to customers thanks to ScotPac.
ScotPac make the effort to understand us and really partner with us. Its a lot more flexible than dealing with banks.
ScotPac have assisted a number of our clients in time critical situations and are highly experienced cash flow lenders.
We think of ScotPac more than just a Financial Services provider, they care enough to know our business and as such we are more like partners
It’s growth funding that gets us the best from our working capital, which covers materials, wages and other costs while we wait to be paid for our goods.
The finance you need to move with the times
- FUNDING AVAILABLE IN AS LITTLE AS 24 HOURS
- FUND NEW AND PRE-OWNED ASSETS
- FUNDING FOR IMPORTED EQUIPMENT
Fast, flexible and personalised Home Loans and Business Loans for Business Owners
- FAST SET UP – CONDITIONAL APPROVAL IN AS LITTLE AS 48 HOURS
- FLEXIBILITY ON DOCUMENTATION REQUIREMENTS
- USE YOUR RESIDENTIAL SECURITY FOR FUTURE BUSINESS BORROWING
Our Invoice Finance solution allows you to access the cash in your unpaid invoices
- LINE OF CREDIT WITH NO NEED FOR PROPERTY SECURITY
- UNLOCK THE VALUE IN YOUR INVOICES
- FACILITIES FROM $10K TO $150M
Trade Finance provides a cash flow injection to help manage the import or export of goods
- PAY OVERSEAS AND DOMESTIC SUPPLIERS
- INCREASE STOCK LEVELS AND EXTEND PAYMENT TERMS
- SELL TO OVERSEAS CUSTOMERS
Who does it suit?
Asset financing can be suitable for any business needing to purchase equipment, machinery or plant. If you have no existing business assets available to fund against, a flexible working capital solution can be the answer you need.
The ScotPac team can help you fund these assets and ensure your business is best positioned to keep growing from success to success.
We find a way to say “yes”. We’re nimble and inventive with our funding solutions by unlocking the hidden value in your assets.
Frequently Asked Questions
HOW DOES ASSET FINANCE WORK?
Asset finance allows businesses to fund up to 100% of the value of their high-cost assets. These assets can be critical for the continued functioning of the business. The asset itself, in the financing arrangement provides the security for the credit so there is no need for a home or property to be used as collateral.
Tools, equipment, machinery and vehicles can all be purchased to ensure the ongoing operation of the business without funds being tied up due to gaps in working capital or cash flow. By spreading the cost of a new asset over the term of the asset financing facility, you can enjoy access to the asset you need when you need it most: Now!
WHAT ARE THE BENEFITS OF ASSET LOANS AND FINANCE?
ScotPac’s asset finance is far more practical and efficient than traditional bank loans or business finance loans. There are many benefits to asset finance including:
- Avoiding asset depreciation
- Options for both fixed and flexible monthly payment plans
- Access to funding fast, in as little as 24 hours
- Higher approval rate with less red tape
- Increased liquidity in your assets
- Can be used in conjunction with instant asset write-off scheme to reduce taxable income
HOW DOES THE INSTANT ASSET TAX WRITE-OFF WORK?
The Australian government has recently extended and increased the instant asset write-off scheme. This means that if you’re a business with a turnover of less than $5 billion you can now benefit from writing off up to $150,000 per asset purchased and in use in that respective financial year. This instant tax write off allows you to save more by reducing your taxable income. Fortunately, asset finance can help you take advantage of this scheme without tying up your cash flow unnecessarily.
To find out more about how off-balance-sheet lending and asset finance can be used under the scheme, make sure to reach out to your local ScotPac lending specialists today.
HOW MUCH FUNDING CAN BE ASSESSED THROUGH ASSET LOANS?
Under normal circumstances, businesses can access up to 100% of the value of an asset. Thanks to the flexibility of the lease and asset finance credit facility, there are a wide range of different financial solutions that can be customised to suit the needs of you and your business. Asset financing options can be used to fund the complete purchase of both used and new assets.
HOW LONG IS THE TERM OVER WHICH AN ASSET CAN BE FINANCED?
ScotPac’s terms range from 24 to 60 months. Many of our clients prefer shorter term financing options, while other businesses prefer the predictability and security of a fixed rate of interest over a longer term.
Speak to our specialists today about finding the right option that suits your needs and preferences.
WHAT ASSETS CAN I FINANCE WITH SCOTPAC?
In general, any good that can be depreciated for business purposes can be financed with an asset financing facility. However, not every financier will offer the same facilities for every type of good or asset. We recommend, for tailored advice for your particular needs, that you contact one of our specialists today for confirmation.
WHAT ARE BALLOON OR RESIDUAL PAYMENTS?
The balloon payment, also called a residual payment, is the amount of money that is still due on the loan at the end of the contractual term. The settling of the balloon payment finalises the contract.
Most commonly, balloon or residual payments are used when the client or business needs to lower their monthly repayments as part of their cash flow management requirements. The lower repayments result in the balloon payment at the end of the contracted term.
CAN SCOTPAC ASSET FINANCE WORK FOR ANY BUSINESS?
Yes! We’ve worked with a wide range of SMEs over the years. With all types of asset financing available, we can help your business free up working capital, reduce upfront costs, improve cash flow and access the assets you need.
From chattel mortgages to finance leases and hire purchases to operating leases, no matter what you’re after, make sure to give the ScotPac team a call today!