Get the Money you require to make Things Happen Through business asset finance.
HomeSec has been providing different solutions for asset funding for customers in New Zealand for many years. We understood how our customers operate with an in-depth knowledge of the niche industry. It is now easier to get funds for used or new equipment with asset finance from HomeSec. Asset funding is one of the most flexible alternatives that will assist your business in growing, all you need is equity in a real estate asset to secure the loan.
You can apply for up to 100% funds for used or new equipment and customize your funding, to suit your business. The borrower can apply for a loan from $20000 to $500000 from HomeSec. In other words, if you are searching for new equipment or work vehicles, asset finance is the best way to expand your company without impacting your cash reserves. The interest rates for asset loans for a vehicle, equipment or other assets, are tailored according to the borrowing and businesses needs. The interest rate of asset funding depends on the following factors.
- The equity available in the property being offered as security
- The loan amount and term the borrower wish to borrow
- The exit strategy of how the loan is to be repaid
How does business asset finance work?
Asset finance is a way of acquiring assets or properties for the business without utilising current capital from the business. The assets can be used in the business with the security taken over existing property held by the borrower, which means it will never impact the other credit lines of the business. Business owners with an immediate requirement of equipment, specifically those who need this to expand their business can apply for asset funding.
Asset finance in NZ also assists the business managing any seasonal fluctuations in cash flow. In other words, asset finance can be more flexible compared to other traditional loans.
Where can you use Asset funding for your business?
You can use asset funding in your business for the following purposes.
- Buying vehicles like cars or trucks
- Equipment for manufacturing and agriculture
- Construction and earthmoving equipment like excavators and forklifts
- Medical equipment like x-ray machines
- Plant and Machinery requirements
- Commercial trailers and trucks
Why use asset finance in NZ for your business?
Asset funding is helpful to the borrowers for the following reasons.
Freeing up cash flow
Purchase used and new assets without dipping into your regular cash flow. You can pay the lender off when there is profit in your business.
Growing your business
The borrower can take complete advantage of the growth opportunities by implementing the asset funding to expand or upgrade your equipment, machinery or shop fit outs.
Flexible repayment terms suitable for the borrower
You can structure the asset funding repayments to meet the seasonal cash flow. Select a term range that is best suitable for the business. The repayment term range can vary from 1 month to 1 year.
Asset funding releases the capital back into the business using the equity in a property to boost cash flow requirements.
Competitive interest rates
HomeSec tailors the interest rates according to the borrowing and business requirements. The interest rate is fixed for the term of the loan.
Benefits and key features of asset finance loans
If you are a business owner and need to purchase business assets like commercial trucks, trailers and vehicles or plant machinery, then the asset loans option is perfect for you. Let us now check out the advantages and key features of this funding.
- You can secure the loan against any real estate asset personal or commercial
- Customized repayments according to the cashflow and business circumstances with flexible loan terms from 1 month to 1 year
- Quick and decisive service at competitive interest rates
- Use the funding to purchase any type of asset your business needs
- You will have complete asset ownership and the right to use it even whilst the debt is being repaid
Is Asset funding perfect for my business?
Asset funding helps the business owners to invest new machinery or equipment to grow their business. It is the best option when you do not have the necessary surplus funds to buy an asset. Based on the existing situation, you can finance up to 100% purchase price on an extended range of vehicles, machinery or equipment, provided you have equity in the property being used as security. Business growth can be achieved quickly and easily by applying for an asset finance loan.
Eligibility criteria of Asset Funding with HomeSec
HomeSec’s asset funding is designed with keeping your business requirements in mind. Our interest rates begin from 1.95%pm. You can apply for the loan within minutes through our website. However, check out the following asset loan eligibility criteria before applying.
- The business should be registered, or under a trust or sole trader or in partnership
- The business owner has to be a permanent resident of New Zealand
- Should have a valid address and ID proof
- The business should be in New Zealand
- The company or the borrower should have a good credit history, although this does not stop applications
- The borrower does not have an unpaid default or bankruptcy history, these can be repaid from the loan also
HomeSec is one of the most trusted and reputable asset finance lenders in New Zealand. We assist our customers in acquiring faster approvals. So if you want to experience outstanding customer service regarding asset funding, call or get in touch with our financial experts.
Frequently Asked Questions
If there is sufficient equity in the real estate asset being offered as security, no additional security will be required. A PPSR charge will be registered along with the security.
What information do I need to supply and when will I find out if my application has been approved?
Along with completing our online application, you will need to provide ID, rates notice and a current mortgage statement.
If an event of default occurs legal action to recover our debt will commence.
Provided there is a benefit to the third party then additional security can be offered.
Interest rates start from 2.95% pm.
Click on any of the apply now buttons on our website, or https://homesec.co.nz/apply-now/
Any security offered for the business loan will need to be insured and a certificate of currency supplied prior to funding.