100% funding for specialist cosmetic equipment

A pre-approval doesn’t always mean the finance is the right fit.

When one of our Waikato adviser Kate McGuigan’s clients was looking to invest in new medical and cosmetic equipment for her business, the machine supplier, Sciton, had already referred her to a finance provider and she had a pre-approval in place.

The challenge was that the original finance structure didn’t quite work for what she needed.

The proposed finance required a sizeable deposit that would have tied up most of the capital she had available, and the funding limit meant she would have needed to settle for a smaller version of the machine rather than the one she really wanted for the business.

Kate looked at alternative medical and cosmetic equipment finance options and structured a solution across two funders, including a specialist asset finance lender.

The final structure provided 100% funding for the equipment, reduced the upfront capital required and allowed the client to secure the higher-value machine she had originally set out to purchase.

Just as importantly, it meant she could keep more cash available in the business rather than using it for a large deposit.

The equipment is now in the business, she’s very happy with it, and everything is going well.

It’s a good example of why it can be worth looking beyond the first finance approval. With access to a wide range of banks and specialist lenders, Finance New Zealand advisers can look at different ways to structure asset and equipment finance around the business, the equipment being purchased and the client’s wider cashflow needs.