Equipment Financing is an option when you want to acquire financing for the purchase of equipment or machinery for your business. Equipment Financing is thus a key product for businesses looking to improve their productivity.
In this type of financing, the lender will pay the equipment vendor or seller directly. The lending institution then acquires and holds on to the equipment or machinery while making you the hirer for the equipment or machinery. Once the loan tenure is completed successfully, the lending institution transfers the asset (the equipment or machinery) to you or your business.
The loan tenure can be a maximum of 8 years with the loan amounting to 90% of the cost of the equipment or machinery. This means that businesses can opt for this type of financing to acquire equipment or machinery while utilizing their cash flow for other business activities such as operations or expansion.
The financing specialists at Finnacle can find you a business loan in quick time, with full documentation guidance and at a dependable success rate.
Finnnacle's Loan Approval Success Rate
1. We know the lenders and eligiblity criteria
Capital financing can be a tricky affair. Finding the right lender and loan product can be as confusing as the documentation requirements and eligibility criteria for business loans. We will help you navigate the process seamlessly.
2. We have direct contact with the lenders
Our financing experts has extensive experience in working directly with all the leading lenders in Singapore such as Standard Chartered, Bank of China, DBS, Maybank, UOB, BEA, OCBC, CIMB, Citibank, RHB, ORIX, HONG LEONG Finance and SINGAPURA Finance.
3. We know the numbers as well as the paperwork
Navigating the sea of paperwork requirements such as bank statements, financials, identification documents etc. is one thing. Finding the right lender and loan product with the friendliest interest rate is all together another thing. We can find you the right business loan at a rate as low as 3%.