Borrow up to $250k with our asset finance alternative for NZ businesses

Raise the funds you need for buying an asset with our new approach to business finance. Ideal for both established and fast-growing firms

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Time-saving, efficient and paperless

For any purpose

Versatile funding that meets your needs

Maximum impact

Competitive rates and charges, no hidden fees

Peace of mind

Your application is processed rigorously and securely

What is asset finance?

Asset finance is a way of borrowing the money you need to acquire a business asset. It might be anything from a new computer to a specialist vehicle or new brick and mortar premises.

Because asset finance is a loan used to purchase something of value, the asset becomes security for the loan. This gives the lender some confidence against the risk of the borrower becoming unable to make their payments. If that happens, the lender can recover the asset.

There are various forms of asset finance, including some types of leasing. What they typically have in common is that the loan is tied to a named asset, which gives the lender some control of it while it’s being used in the business.

What is asset finance?

Asset finance is a way of borrowing the money you need to acquire a business asset. It might be anything from a new computer to a specialist vehicle or new brick and mortar premises.

Because asset finance is a loan used to purchase something of value, the asset becomes security for the loan. This gives the lender some confidence against the risk of the borrower becoming unable to make their payments. If that happens, the lender can recover the asset.

There are various forms of asset finance, including some types of leasing. What they typically have in common is that the loan is tied to a named asset, which gives the lender some control of it while it’s being used in the business.

How does a Spotcap loan compare with asset finance?

An asset finance arrangement allows your business to make use of an asset before you’ve paid for it in full. It’s effectively a pay-as-you-go arrangement, and if you stop paying, you’re likely to lose the asset.

A Spotcap loan is different from most asset finance because:

  • You stay in control of the asset, because it’s not used as security for the loan.
  • You can repay early without penalty, which means you can save on interest costs.
  • It’s easier for you to run your business as you want, because you have full control of the asset.

A Spotcap loan gives you a convenient asset finance solution without the limitations often imposed by more traditional approaches to this form of borrowing.

The flexibility of a Spotcap loan, when compared to traditional asset finance, also extends to repayments. If you can repay early, we don’t charge you any penalties and you save on interest costs. Ours is designed to be a convenient, versatile business loan solution.

Could a Spotcap business loan be my alternative to asset finance?

Some ways that our unsecured loan could be a versatile substitute for asset finance include:

  • When you’re buying new equipment

    Our unsecured loan is not secured on any of your business assets, putting you in full control of how you use them. This gives you freedom to make commercial decisions without being bound by finance contracts linked to assets.

  • When you choose to release capital from an asset

    Sale and leaseback is a popular approach to releasing the value that’s locked into an asset. Our unique method of assessing the financial condition of your business gives you the same asset finance using a quicker, simpler process which avoids using your assets as collateral

  • When you’re upgrading your systems

    Purchasing equipment that’s critical to your business can require asset finance. A Spotcap loan does the same job, providing the short-term funding you require to buy that vital asset and put it to work

  • When you’re considering a lease arrangement

    Depending on your circumstances, a flexible unsecured business loan can be more cost-effective than a lease arrangement. Because we offer early repayment without penalties, our asset finance alternative can save on borrowing costs

Key points about the Spotcap alternative to asset finance

How much could my business borrow?

Our asset finance alternative can provide you with a loan of between $10k and $250k

What is the repayment period?

Once your application is approved, you are given access to a line of credit. Draw down what you need for your asset purchases and then repay, over 1 to 12 months

What are the minimum criteria to access Spotcap finance?

A Spotcap loan is available to businesses registered in New Zealand, with a New Zealand online bank account and a minimum turnover of $200k. The business also needs to have been trading for at least 18 months. You can borrow for a variety of business purposes, not just to purchase an asset

What rate of interest does Spotcap charge?

Interest rates reflect both market conditions and the recent performance of your business. Use our business loan calculator to estimate your monthly repayments and interest costs

* These are genuine reviews from Spotcap customers in Australia.

Asset finance alternative repayment calculator

  • Amount
    $125,000
  • Time
    6 months

$14,951

Monthly Repayment

For illustrative purposes only. The example shown above is based on an average Spotcap customer. We base our decisions on several criteria and loans can only be granted to borrowers who can afford repayments. For more information about responsible lending click here or contact us directly.

Monthly Repayment

$14,951

  • Amount
    $125,000
  • Time
    6months
For illustrative purposes only. The example shown above is based on an average Spotcap customer. We base our decisions on several criteria and loans can only be granted to borrowers who can afford repayments. For more information about responsible lending click here or contact us directly.

Steps to applying for your asset finance alternative

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Sign up

Applying for our business loan starts with the entry of basic personal and business information, all input online

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Complete the application

The application can be completed in just five minutes, when you give us read-only access to your accounting system and bank account

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Get approval

When you’re approved, allow one working day to gain access to your business loan