upgrade or purchase production line equipment with asset finance

Thornmoney can help businesses to upgrade or purchase production line equipment. Find out how to access competitively priced asset finance, fast.

  • October 25, 2022
  • 4 min read
  • Thornmoney
  • October 25, 2022
  • 4 min read
  • Thornmoney
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assetfinance

  • Up to $1M in funding
  • Tailored rates
  • No hidden fees
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Starting a business or turning a side hustle into a full-time venture with its own production line and manufacturing facility is exciting but there is always the need to purchase equipment.

Most business owners find they need some kind of finance to get the ball rolling and invest in quality assets that won’t break down.

production line finance is an option

Instead of saving up for months or taking a large financial hit, it makes sense for growing businesses to explore production line funding in the form of asset finance.

Also known as equipment finance, asset finance is a type of business loan that can be used to acquire the assets that make up a food production line or any other type of production line.

When business owners choose asset finance, they can quickly access the cash they need to purchase essential equipment. They then split the cost of their purchases into monthly payments over an extended period (up to 60 months/five years). A small amount of interest will be charged by the lender to cover the cost of the loan.

The upside of this arrangement is far healthier cash flow and less need for a business to empty its savings account.

Read What is asset finance to know more.

look for competitively priced asset finance and a fast approval process

Reaching out to a bank for asset finance can take a long time and many businesses find they are unable to access funds because of limited flexibility around lending.

It can be better to work with an independent lender that will accommodate almost any business that has been operational for at least two years.

At thornmoney, we provide the benefit of an easy-to-access application platform that can share loan options and cost estimates. We are also equipped to facilitate faster, easier turnaround on applications and approvals.

Find out more: How technology helps brokers to save time on loan applications

need production line finance?

It is false economy to risk a breakdown due to poor quality or old equipment on a production line. The best approach is to invest in quality and upgrade as regularly as possible.

Thornmoney offers asset finance for manufacturing businesses of almost any size in Australia. As an additional benefit, there is a four-week period before the first repayment is required.

No upfront deposit is required if a business is more than two years old, and rapid funding is available for loans starting from $10,000. This means a high-quality production line can be purchased or upgraded with minimum fuss.

Thornmoney will also help businesses explore loan options for second-hand equipment.

a success story:

From manufacturers to family-owned farms

meat food production
this family butcher upgraded their meat processing line with the help of our asset finance loan

The businesses supported by thornmoney cover a wide cross-section of industries.

One client we support is a long-standing family butcher from Tasmania. When it came to branching out on his own, the owner decided to stay in meat but also build up a new food production business.

The challenge with finding a lender was that some of the equipment that was needed didn’t have a lot of valuation details or resale value. Fortunately, thornmoney was able to ‘workshop’ the situation and offer a suitable solution.

read full story

Every business is different

Equipment requirements vary for different businesses, and this is especially the case for manufacturing companies.

A flexible lender can provide personal attention and help with a tailored asset finance solution that includes competitive interest rates and minimal deposit requirements.

Want help to understand the costs of production line finance and submit an application? Reach out to thornmoney today.

Disclaimer: This information is for general information purposes only. Therefore, the information contained herein does not constitute financial or professional advice or a recommendation. Ultimately, it has not been prepared with reference to your financial circumstances or business and should not be relied on as such. You should seek your own independent financial, legal and taxation advice as to whether or not this information is appropriate for you.

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  • Up to $1M in funding
  • Tailored rates
  • No hidden fees
Apply now

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