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:
Key points about the Spotcap alternative to asset finance
* These are genuine reviews from Spotcap customers in Australia.
Asset finance alternative repayment calculator
$14,951
Monthly Repayment
Monthly Repayment
$14,951
Steps to applying for your asset finance alternative
Sign up
Applying for our business loan starts with the entry of basic personal and business information, all input online
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
Get approval
When you’re approved, allow one working day to gain access to your business loan