5.0 from 2 Reviews
What Is Asset Finance?
Asset finance is a way for businesses to fund the purchase or use of physical assets, like vehicles, machinery, and equipment, without having to pay the full cost upfront. Instead of draining your working capital, you spread the cost over time through regular repayments. At Mprove Finance, we help businesses across Perth and right across Australia access asset finance options from banks and lenders across Australia, so you can keep your business moving without putting unnecessary pressure on your cash flow.
Whether you are buying new equipment, upgrading existing equipment, or adding to your fleet, asset finance gives you the flexibility to get what your business needs today while managing repayments in a way that suits your budget. Mprove Finance works with a wide range of lenders to find finance options that align with your business needs, your industry, and your financial situation.
Types of Assets We Can Help You Finance
At Mprove Finance, we assist with a broad range of asset types. Commercial equipment finance covers everything from office equipment and technology equipment finance through to medical equipment finance and hospitality equipment finance. If your business relies on heavy machinery, we can also help with construction equipment finance, including excavators, graders, cranes, dozers, and tractors. For businesses that need work vehicles on the road, we can assist with commercial vehicle finance, whether that is a single truck, a trailer, or a full fleet through fleet finance.
Specialised machinery and industry-specific equipment are also well within scope. Asset based lending means the asset itself often acts as collateral, which can make it more accessible for businesses that may not have significant property holdings to secure a loan against. This is one of the reasons asset finance is such a practical tool for growing businesses across Western Australia and beyond.
Finance Structures Available
One of the things that makes asset finance so useful is the variety of structures available. Mprove Finance can help you understand the differences between options like a chattel mortgage, a finance lease, an operating lease, a novated lease, and hire purchase, so you can choose the structure that works best for your situation.
A chattel mortgage is a popular choice for business owners because you take ownership of the asset from day one, and you may be able to claim tax benefits including depreciation and GST treatment advantages. With a finance lease or operating lease, the lender retains ownership of the asset for the life of the lease, which can suit businesses that want to stay on an upgrade cycle without the commitment of ownership. Hire purchase arrangements allow you to use the asset immediately while paying it off over time, with ownership transferring at the end of the term.
Many asset finance structures offer fixed monthly repayments, which makes it much easier to manage cashflow and plan ahead. Some products also include a balloon payment at the end of the loan term, which can reduce your ongoing repayments during the loan period. The right structure will depend on your business goals, your GST registration status, and how you want to treat the asset on your books.
Why Asset Finance Matters for Business Growth
For many businesses, the ability to preserve working capital is one of the biggest advantages of asset finance. Rather than tying up large amounts of cash in a single machinery purchase or vehicle acquisition, you can preserve capital and keep funds available for day-to-day operations, staffing, or other growth opportunities.
Asset finance also means you can access the latest equipment without waiting until you have saved the full purchase price. In industries where technology and machinery evolve quickly, being able to upgrade regularly through equipment leasing or structured finance arrangements can give your business a real advantage. Vendor finance and dealer finance options are also available in some cases, and Mprove Finance can help you understand how these compare to going directly through a bank or non-bank lender.
The loan amount available through asset finance will vary depending on the type of asset, its value, the lender, and your business circumstances. The interest rate attached to your facility will also depend on these factors, which is why having a broker like Mprove Finance in your corner can make a real difference. We compare options across multiple lenders so you can make an informed choice about your business equipment funding and machinery purchase decisions.
If you are also exploring broader commercial loans or want to understand how asset finance fits alongside your other equipment finance arrangements, Mprove Finance is here to help you look at the full picture.
Step 1: Initial Conversation
We start with a no-obligation chat to understand what you are looking to achieve. Whether you are buying your first home, investing in property, or refinancing an existing loan, this is your chance to ask questions and for us to get a feel for your situation.
Step 2: Fact Find and Assessment
We take a closer look at your financial position. This includes your income, expenses, assets, and liabilities. The more we understand about your circumstances, the better placed we are to find a solution that works for you.
Step 3: Research and Strategy
Using our panel of lenders, we research the market to find loan options that suit your needs and goals. We do not just look at interest rates. We consider loan features, flexibility, and overall value to make sure the solution fits your life.
Step 4: Recommendation
We present our recommendation in plain language. No jargon, no confusion. We walk you through the options, explain the pros and cons, and answer any questions so you can make a confident, informed decision.
Step 5: Application Lodgement
Once you are happy to proceed, we prepare and lodge your application on your behalf. We handle the paperwork and liaise directly with the lender to keep things moving as smoothly as possible.
Step 6: Approval and Settlement
We keep you updated every step of the way through to formal approval and settlement. If the lender needs anything further, we manage that communication so you are not left chasing answers.
Step 7: Ongoing Support
Our relationship does not end at settlement. We check in regularly to make sure your loan is still working for you. As your circumstances change, we are here to review your finance and help you make the most of every opportunity.
At Mprove Finance, we believe the right guidance makes all the difference. Our process is designed to be clear, efficient, and centred entirely around you.
Aine is incredible. She went into bat with me to ensure the lender was understanding my complex pay structure. She went above and beyond, as initially they were not assessing my income appropriately. Her knowledge, care and relentless effort was amazing, she ensured I ended up with the best possible deal. Her follow up and attention to detail was amazing. Would recommend her to anyone needing support with their banking
Chelsea Selvidge
Aine is so friendly, knowledgeable and genuinely lovely to deal with. We're really grateful to have her on our side as we work through restructuring our home loan and potentially refinancing. We trust her advice and really appreciate the care and support she's given us. She's an absolute pleasure to work with!
Emily Jeavons
Not at all. While Mprove Finance is proudly based in Perth and serves clients across the greater Perth area, we also work with clients right across Australia. Thanks to phone, email, and video conferencing, we can provide the same high level of service whether you are in Fremantle, Brisbane, Melbourne, or anywhere else in the country. Distance is not a barrier to getting quality support with your finance needs. If you prefer to meet in person and you are local to Perth, we are happy to arrange that too. We want the experience to work for you, regardless of where you are located.
Getting started is very straightforward. You can reach out to us by phone, email, or through our website to book an initial consultation. This first conversation is all about understanding your situation, what you are hoping to achieve, and answering any questions you might have. There is no pressure and no obligation involved in having that initial chat. From there, if you decide you would like to move forward, we will outline the next steps and what we will need from you to get the process underway. Whether you are just starting to think about your options or you are ready to move quickly, Mprove Finance is here to help you take that next step with confidence.
In most cases, Mprove Finance is paid a commission by the lender once your loan settles. This means you typically do not pay us directly for our broking services. We are required by law to be transparent about how we are paid, and we will always disclose any commissions or fees upfront before you commit to anything. Our obligation is to act in your best interests, which is a legal requirement under Australian credit law. If there are any situations where a fee may apply, we will discuss this with you clearly and openly before any work begins, so there are no surprises along the way.
Having a less-than-perfect credit history does not automatically mean you are out of options. There are lenders on our panel who specialise in working with clients who have had credit challenges in the past, such as defaults, late payments, or previous bankruptcies. At Mprove Finance, we take the time to understand your full situation before exploring what may be available to you. We will always be honest with you about your options and what is realistic given your circumstances. We do not make promises about outcomes, but we do commit to doing the work to find out what is possible and presenting you with a clear picture of your choices.
When you go directly to a bank, you are only seeing what that one lender has to offer. A mortgage broker like Mprove Finance has access to a wide panel of lenders, which means we can look across multiple options to find one that suits your specific situation. We also understand how different lenders assess applications, which can be valuable when it comes to putting your application together in the strongest possible way. Beyond that, we handle the communication and paperwork on your behalf, saving you considerable time and effort. Our job is to work for you, not for the lender, and that focus on your needs is what sets the broker experience apart.
While the exact documents required can vary depending on your situation and the lender, there are some common items you will typically need to have ready. These usually include proof of identity such as a passport or driver's licence, recent payslips or tax returns if you are self-employed, bank statements, details of any existing debts or liabilities, and information about the property you are looking to purchase. At Mprove Finance, we will walk you through exactly what is needed for your specific application so you are not left guessing. Being well-prepared with your documents upfront can help avoid unnecessary delays in the process.
Mprove Finance works across a broad range of lending needs. Whether you are looking to purchase your first home, refinance an existing loan, invest in property, or access finance for a vehicle or business purpose, we can help you explore your options. We work with a wide panel of lenders including major banks, credit unions, and specialist lenders, which means we can look at solutions that suit a variety of circumstances. Every client's situation is different, so we take the time to understand what you are trying to achieve before recommending any particular direction. Our goal is to match you with a loan structure that genuinely fits your needs.
A mortgage broker acts as the go-between for you and a range of lenders. Rather than you having to approach each bank or lender individually, a broker does that legwork on your behalf. At Mprove Finance, we assess your situation, help you understand your options, and work with our panel of lenders to find a loan structure that suits your needs and goals. We handle the paperwork, communicate with lenders, and guide you through each step of the process from your initial enquiry right through to settlement. Our role is to make the whole experience as clear and straightforward as possible, so you always know where things stand.
The timeline for a home loan can vary depending on a number of factors, including the lender you go with, the complexity of your application, and how quickly all the required documents can be gathered. Generally speaking, getting pre-approval can take anywhere from a few days to a couple of weeks, while full loan approval after finding a property can take a similar amount of time. At Mprove Finance, we work to keep things moving as efficiently as possible by staying on top of your application and communicating with lenders on your behalf. We will always keep you informed so you have a clear picture of where things are at.
Pre-approval, sometimes called conditional approval, is an indication from a lender that they are willing to lend you up to a certain amount, subject to conditions being met. It is a useful step when you are searching for a property because it gives you a clearer idea of your borrowing capacity and shows sellers you are a serious buyer. Full approval, on the other hand, happens once you have found a property and the lender has assessed all the details including a valuation of the property. At Mprove Finance, we can help you understand what each stage means for your situation and what to expect as you move through the process.
Mprove Finance works with businesses across Perth and Australia to find asset finance options that suit your goals. Book an appointment with our team today and let us help you find the right fit for your business.
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