Asset Finance that keeps you ahead of the pack.
From daily routine to growth machine
Funding available in as little as 24 hours
Fund new and pre-owned assets
Funding for imported equipment
What is Asset Finance?
ScotPac Asset Finance can help fund plant, equipment and vehicles so you can take on more opportunities to expand your business. It can also provide access to capital by releasing cash tied up in the assets that your business already owns. Our solutions are incredibly flexible and easily tailored to perform for your unique business.
We help you fund assets even when banks won’t – with more flexible terms (up to 5 years) and competitive rates. In fact, we can provide funding in as little as 24 hours.
assets you already own to
fund business growth.
Fund the true value
costs of an asset with no capital outlay.
New and used
Why ScotPac?We find a way to say “yes”. We're nimble and inventive with our funding solutions by unlocking the hidden value in your assets.
Who does it Enquire Now
Asset Finance suits all businesses that need to purchase business equipment or have existing business assets available to fund against. This provides flexible working capital to grow your business and take on new opportunities.
At ScotPac we’ll help you fund these assets to keep your business growing when you need it most.
HOW DOES ASSET FINANCE WORK?
Asset Finance enables you to fund up to 100% of the value of high-cost assets you need to purchase for your business. The asset provides security for the credit facility, so you don’t need to use your home or property as collateral.
You can access the tools, equipment, and machinery you need to support the growth of your business without tying up working capital and restricting cash flow. Asset Finance allows you to spread the cost of an asset over its usable working life. Depending on the asset/equipment finance agreement terms, you may take ownership of the asset once the final installment has been made.
WHAT ARE THE BENEFITS OF ASSET FINANCE?
Compared to a traditional business loan, Asset Finance offers several benefits:
- Avoid asset depreciation
- Fixed or flexible monthly payments
- Fast access to funding
- High approval rate
- Increased liquidity
In addition to the above benefits, Asset Finance can be used with the instant asset write-off scheme to reduce your taxable income. You can fund the full cost of an asset to take full advantage of the Australian government’s support scheme.
ASSET FINANCE SOLUTIONS & THE INSTANT ASSET TAX WRITE-OFF
As part of the COVID-19 economic recovery plan, the Australian government has extended and increased the instant asset write-off scheme. Businesses with a turnover of less than $5 billion can now benefit from an instant tax write-off of up to $150,000 per asset purchased and in use by June 2023.
Asset Finance can help you take advantage of the instant asset write-off scheme without restricting your cash flow. For more information on using off-balance-sheet lending and Asset Finance under the scheme, please speak to one of our friendly financial advisers on the number below.
WHAT IS THE DIFFERENCE BETWEEN ASSET FINANCE AND ASSET-BACKED FINANCE?
Asset Finance is a type of lending that allows a business to access or purchase new or second-hand assets. The lender covers the upfront payment, and the business repays the amount over a set period.
Asset-backed finance is a funding solution that allows a business to use the assets it already owns as collateral for financing. The asset collateral guarantees payment, so a business can typically access higher credit limits and more affordable terms than it would be able to with an unsecured loan.
HOW MUCH CAN I BORROW?
You can usually fund up to 100% of the value of an asset. This type of credit facility is very flexible and covers a wide range of finance solutions that can be tailored to the needs of your business. Asset financing options can be used to fund the purchase of both second-hand and new equipment assets.
HOW LONG CAN I FINANCE AN ASSET OVER?
Our Asset Finance terms range from 24 to 60 months. Some of our clients prefer short term finance options, while others like the security and predictability of a credit facility with fixed rates of interest over several years.
WHAT ASSETS CAN I FINANCE WITH SCOTPAC?
Generally, goods that can be depreciated for business purposes are eligible for Asset Finance, including machinery, light commercial vehicles, and some renewable energy solutions. However, different financiers have differing lending policies regarding what types of goods they are willing to finance. Please contact us to confirm.
WHAT IS A BALLOON OR RESIDUAL PAYMENT?
A balloon payment, also known as a residual payment, is an amount due at the end of the agreed contractual term to finalise the contract. It is commonly used to structure a facility with lower monthly repayments over the contracted term. This can assist in managing their cash flow.
WILL SCOTPAC ASSET FINANCE WORK FOR MY BUSINESS?
Yes! All types of Asset Financing, (sometimes called a chattel mortgage, vehicle finance, sales and leaseback, finance lease, hire purchase or operating lease) can help improve cash flow, free up capital and reduce upfront costs. Our asset and equipment finance solutions are available at very competitive rates and without the hassle and paperwork involved with a bank loan agreement.
Not sure if Asset Finance is Learn more
best suited to your business?
Call us to discuss how we can
finance your business 1300 505 883