What is equipment finance?

Equipment finance is a form of business loan that is designed to assist businesses obtain equipment to ensure operating and trading functions. When you access equipment finance it means you can access the equipment you need without having to pay for it all up front. Equipment finance enables you to spread the cost of the equipment over a number of years and make regular EMIs. Equipment finance can be used by manufacturers, service businesses, retail businesses and even for agricultural businesses. Depending on the type of equipment purchase, the equipment itself can act as the primary security, making this easier to get approved and minimises any requirement for additional loan security.