Equipment Finance

Equipment Finance To Grow Your Agribusiness

SproutAg provides financing services for securing loans, such as equipment finance, to agricultural business.
Need assistance with securing financing?

Contact SproutAg to connect with finance specialists with experience in equipment loans and to understand your options.

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Equipment Finance

Farm Machinery & Equipment Finance Australia

Farming is labour-intensive and it is critical to have access to quality equipment. Better machinery means more efficient and effective farming processes! With continued innovation and technological developments, the equipment needed on farm is becoming bigger, smarter, and more expensive. Positioning yourself to purchase the right goods at the right time is imperative for the continued growth of your business. But many farming businesses – both new and established – simply aren’t in a position to be splashing out huge sums of money on new, state-of-the-art machinery and equipment - which is where SproutAg comes in!

Machinery Finance

Work with Experienced Agribusiness Finance Specialists for your Farm Machinery Loan

SproutAg works with multiple lenders to secure the most competitive rate across both new and second-hand machines. SproutAg can also assist in the purchase of older goods which can be more difficult to finance through mainstream lenders. SproutAg works with you on the most cost and cashflow effective structure for your new loan, so you can continue to operate with minimal disruption to your bottom line.

The SproutAg team work directly with you and agribusiness lenders to give you the best financing options and assist in securing the best finance solutions for you.

Machinery Equipment Finance

Get Well Equipped For The Season Ahead

Working with an experienced team of specialists who understand the needs of agribusiness and know how to talk to financial specialists is immeasurably valuable. Our team understands the needs of agribusiness and how to speak to financial specialists to secure that funding.

No one should miss out on the chance to create the best business they can because of a little red tape! SproutAg works closely with you to ensure you find the right financial help and have the best chance of approval.

The Benefits of Working with SproutAg for Equipment Finance

Many in finance, including major banks, don't necessarily understand the challenges, risks, and benefits of agricultural businesses and how they operate. On the other hand, not many agribusiness owners can easily navigate the financing processes.

Working with lenders that don’t have the specialised knowledge of rural communities and agricultural industries can be a source of great frustration and confusion for those seeking finance in these areas. Fortunately, there are specialist financial institutions available on the Australian market dedicated to serving rural communities and businesses for those individuals who know where to look!

The SproutAg team can work directly with you and agribusiness-friendly lenders to give you the best options on the market and the best chances of securing the funding you need.

Interested in Securing Equipment Finance?

Contact Us

Here at SproutAg, we have plenty of experience when it comes to providing bespoke financial solutions for businesses and individuals with agribusinesses in regional and rural Australia.

SproutAg are specialists in agricultural finance – if you’re looking at in investing in some equipment for your farm, contact our team today.

Equipment Finance - FAQs

How Does an Equipment Finance Work?

Equipment finance is a type of business loan that helps businesses get access to equipment and machinery. They obtain it through a financier, often on a finance lease or Chattel Mortgage basis, with the equipment used as security for the loan.

What is Machinery Finance?

Machinery finance is essentially a loan to fund business assets in a range of different industries. You can finance a wide range of equipment from heavy machinery to new technologies, and even office supplies. The success of your application is dependent on a variety of factors including savings, cash flow, assets, access to collateral, and risk factors.

How Hard is it to Get Loan Approval for Equipment Finance?

If you're working with the right people to find and secure financing, getting approval for equipment is a lot easier. Working with a team like SproutAg, we have already identified and have connected with the best lenders for farmers and agribusinesses. We know who provides the best finance options and which can provide the best experience to each of our clients. We also know how to ensure our customers have the best chance of approval.

What is the Longest Finance Term?

The length of the finance contract depends on a variety of factors. It depends on the goods being purchased, their age, the funding amount, the terms of the loan or financing arrangement, and expected instalments or repayments. There are a multitude of financial options that can be used to access equipment, so there is no set answer to this question.

The best course of action is to speak with experienced financial professionals, such as SproutAg, who specialise in agricultural finance, as they can take the time to understand your needs, the possible options available, and what you can expect in terms of financing terms.

Why is Structure of Equipment Finance Important?

Correctly structuring your equipment finance is essential. When entering into any financial commitment you want to be confident you can make the agreed repayments without compromise the cashflow you need to run your day-to-day operations. Working with SproutAg you can ensure you can finance the equipment you need but in a way that suits your business needs. Offering different repayment terms with options such as residuals or balloons can assist in the most cost-effective purchase of equipment.

Our team of specialist finance professionals have experience in the farming and agricultural sectors. We can help applicants throughout the process from collecting and submitting financial information, understanding the impact of their credit history, understanding the loan terms or contract terms including monthly repayments and interest rates, to finalising the agreement.

Does Farm Machinery Count as an Asset?

The short answer is yes, machinery is considered a "fixed asset" as it is involved in the operation of a business. Fixed assets are considered to be both 'tangible' and 'long-term' assets (an asset with a useful life beyond one year).

What is the Typical Term for an Equipment Finance Loan?

This will depend on the amount of finance you're approved for, the loan terms, and the financial provider you secure your finance through (in many cases, equipment financing terms can average between 3 and 6 years).

Are Equipment Loan Repayments Tax Deductible?

There are potential tax benefits to consider when it comes to financing as well, as there is potential for the interest portion of the loan repayment to be tax-deductible. To be eligible for this, all your borrowed funds should be used for business purposes. It's best to get financial advice on any potential tax deductions or obligations as a result of machinery financing.

Get in touch

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