Asset finance simply put is the capacity to finance the purchase of assets for the self-employed, small business owners, contractors. Generally asset finance is less regulated by governing bodies and as such, they are much easier to get approved and have much lower interest rates.
You may have heard the term 'Tradie Loans' floating around, this has come about because most self-employed tradies (electricians, carpenters, plumbers, etc.) take advantage of asset finance to help them grow their business.
The list below outlines some of the various assets you can purchase using asset finance:
- Plant equipment
- Shop fitouts