When it comes to equipment finance, many business owners hesitate due to misconceptions about equipment finance that simply aren’t true. At PMG Finance, we want to set the record straight so you can make confident, informed decisions for your business. Don’t let Myths hold your business back.
Let’s debunk three of the most common myths about equipment finance:
Myth #1: Equipment finance is too expensive
The Truth:
Equipment finance is designed to help businesses acquire essential tools and assets without depleting their working capital. With flexible repayment terms, it can be a cost-effective solution that helps businesses manage cash flow while avoiding large upfront costs.
Here’s why it’s affordable:
- Equipment finance spreads the cost of equipment over time, easing cash flow pressures.
- Many businesses benefit from tax deductions, such as depreciation and interest write-offs. Speak with your tax advisor to confirm if this aligns with your business needs.
- Affordable monthly payments allow you to invest in growth while managing expenses.
Myth #2: Equipment finance is only for large companies
The Truth:
Equipment finance isn’t just for large corporations—it’s a smart choice for businesses of all sizes. Whether you’re a small startup or a growing SME, finance solutions can be tailored to fit your needs.
Here’s how it helps small and medium businesses:
- Access to funds for vital equipment without tying up capital.
- Flexible terms that accommodate seasonal cash flow variations.
- Faster approvals so you can get the tools you need quickly.
Myth #3: Older equipment can’t be financed
The Truth:
Older equipment definitely can be financed. Through our large panel of lenders, we can source funding for assets of almost any age.
Here’s how we can help:
- Access to a wide range of lenders, including those specialising in older and unique assets.
- Assistance with proving title, ensuring you achieve ownership and meet lender requirements for funding.
- The ability to purchase the equipment you need, regardless of age.
Why Choose PMG Finance?
At PMG Finance, we specialise in providing tailored solutions to businesses of all shapes and sizes. When you work with us, you can expect:
- Customised repayment options to suit your unique business needs.
- A simple, hassle-free application process that saves you time.
- Professional guidance to help you choose the best finance solution.
Ready to Take the Next Step?
Contact us on 07 4639 1011 to find out more. Don’t let these myths prevent you from exploring the benefits of equipment finance. Let’s discuss how we can help your business thrive. At PMG Finance, we’re here to make equipment finance simple, accessible, and beneficial for your business.
LinkedInDISCLAIMER: The above content is to provide general information and does not constitute financial, legal or other advice. This means that duties and requirements imposed on people who give financial advice do not apply to this content. For advice contact your accountant or legal advisor.