Restaurant & Events Business Receive New Espresso Machine Financing
To stay afloat during the COVID-19 lockdowns, many small businesses had to dip into their working capital. With savings gone, they needed flexible finance options to cover replacement equipment. One local restaurant and events chain contacted us for commercial financing help. They required funding for six new espresso coffee machines. When their doors had re-opened, their baristas could barely keep up! Locals were returning to their favourite coffee shops and restaurants in droves. We were glad to help – and we were also thrilled to hear that they were so busy!
Commercial Espresso Coffee Machine Finance Options
We found finance options suitable for their coffee machines and secured the funding quickly. As soon as approval was granted, all six coffee machines were purchased and delivered within a few days.
Equipment Funding and Financing Options for Small Business – Flexible Repayments and Fast Approvals
Equipment finance is a brilliant solution for small business owners who want to hold onto their working capital. Keeping cash on hand ensures immediate costs can be covered during the periods between product production/service delivery and payment(*1,2). Businesses vary in the timeframe of these periods. For example, a construction business may need to cover months of costs for a project before being paid. Hospitality businesses have much shorter timeframes but may need to access cash more often(*1). Had our client used some of their working capital for the outright purchase of six espresso coffee machines, they would have most certainly left themselves short.
There are several types of financing options for commercial equipment, whether you need flexible repayment schedules, low-interest rates, minimal or no fees for paying a loan out early, or something else.
Purchase What You Need for Your Business Now
Rather than waiting to save up money for equipment or machinery you need for your business. Equipment finance can be used to purchase immediately.
You may also find yourself in a situation (like our client mentioned above) where your working capital has been depleted and you need an urgent solution. If this is the case for you, please contact our team to learn what we can do to help you achieve your goals.
Outsourcing Financial Tasks to Experts Can Help With Reducing Costs
Working smarter – not harder is a common phrase used here in Australia. We are an innovative country brimming with out of the box ideas and solutions. In addition to upgrading equipment to make work processes faster, outsourcing tasks and processes is something small and large businesses do quite regularly. In fact, at least 44% of small businesses and companies outsource tasks or processes every year(*3).
Rather than spending hours researching equipment financing and small business funding, more people outsource financial needs to local financial companies like Trans-Pacific Finance Group(*4). Trans-Pacific Finance Group understand:
- Funders and banks.
- The application process.
- Finance criteria.
- Loan terms and conditions.
- What parts of the loan can be tailored or customised to your needs.
- How to compile brilliant applications.
Save yourself time, skip the frustration of having loan applications declined and move forward with your business plans sooner.
Talk to the professional team at Trans-Pacific Finance Group about your business financing needs today.
References *1. Boyte-White, C. How Much Working Capital Does a Small Business Need? Investopedia. 2022. *2. Choksi, N. Joshi, A (ed). 5 Ways A New Business Owner Can Get Working Capital. Forbes. 2022. *3. Southam, K. Aussie Companies Outsource At Home. Career One. 2012. *4. Lucas, B & Knight, M. White Paper | The positive impact of outsourcing within Australia. Hopscotch Accounting. 2019.