Upgrading ageing assets can improve efficiency, productivity, safety, sustainability, and quality. However, in the challenging economic climate we have been experiencing, many businesses have held off on investing in new business assets. This is where asset finance comes in.

Using asset finance to upgrade your aging assets can provide several benefits. Firstly, it allows your business to preserve cash flow by spreading the upgrade cost over time. This can be especially beneficial for small businesses or those with limited budgets. Secondly, it enables you to acquire the latest technology and equipment, improving efficiency, productivity, and safety. Lastly, it can help you stay competitive by allowing them to offer higher-quality products or services.

Finance New Zealand can provide asset finance which allows businesses to acquire new equipment or upgrade existing assets without paying the full cost upfront. Instead, the cost is spread over a period of time, making it more affordable to invest in the latest equipment.

There are several types of asset finance solutions we can provide, including asset finance term loans, revolving credit facilities and leasing. Equipment loans are similar to traditional loans, but the funds are used specifically to purchase equipment and payments can be aligned to the lifecycle of your business asset. Revolving credit facilities also offer cash offset options, enabling you to utilise surplus cash flow to reduce your overall borrowing costs. Our revolving credit solutions provide flexibility, efficiency, and cost savings for your business. Leasing allows businesses to use equipment for a set period of time in exchange for regular payments. At the end of the lease period, the business can either return the equipment or purchase it outright. Our team of asset finance experts will work to establish the most suitable asset finance solution for your business needs.

With strong competition among lenders for new business combined with a favourable buyers market, now could be a good time to evaluate business asset upgrades.

Finance New Zealand works with a range of specialist asset finance funding partners along with the main banks who can provide pre-approvals. If you would like to learn more about asset financing, contact your local Finance New Zealand adviser today or apply online now.