The Ultimate Guide to Equipment Finance for Plasterers

The Ultimate Guide to Equipment Finance for Plasterers with Emu MoneyThe Ultimate Guide to Equipment Finance for Plasterers with Emu Money

Plasterers in Australia understand the importance of having the right equipment to efficiently carry out their work. Whether it's for small-scale repairs or large-scale projects, having access to high-quality tools and machinery is essential for achieving professional results. However, purchasing equipment outright can be a significant financial burden, especially for small and medium-sized plastering businesses. This is where equipment finance comes into play. Equipment finance provides a practical and flexible solution for plasterers who need to acquire new or upgraded equipment without draining their working capital. With equipment financing, plasterers can spread the cost of their equipment over a fixed period, making it more manageable for their cash flow. By choosing equipment finance, plasterers can keep up with the advancements in the industry and stay competitive. They can easily upgrade their tools and machinery as technology evolves, ensuring they can deliver high-quality finishes efficiently. Moreover, equipment finance allows plasterers to conserve their cash reserves for other essential business expenses, such as hiring skilled labour, investing in training, or expanding their operations. In this article, we will delve into the various aspects of equipment finance that are relevant to plasterers in Australia. We'll explore the benefits of equipment financing, discuss how it can be accessed, and provide insights into using an equipment finance calculator to determine the best financing options for plastering businesses. So, let's dive in and explore how equipment finance can empower plasterers to achieve their goals while maintaining financial stability.

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What is Equipment Finance?

Equipment finance is a valuable financial solution that allows plasterers in Australia to access the equipment they need for their trade. It provides a means of acquiring necessary tools and machinery without the need for a large upfront payment. In essence, equipment finance involves a lender providing funds to purchase the required equipment. The plasterer then repays the lender over an agreed period through regular instalments. This type of financing is typically structured as a lease or a hire purchase arrangement. With a lease, the plasterer pays regular rental payments over the agreed leasing term. At the end of the term, the plasterer usually has the option to purchase the equipment at a predetermined price or return it to the lender. On the other hand, a hire purchase arrangement allows the plasterer to use the equipment while making regular payments. Once the final payment is made, the plasterer becomes the owner of the equipment. Equipment finance offers flexibility in terms of repayment structures and loan terms. This allows plasterers to tailor the financing to their specific needs and budget. It ensures that they can acquire the necessary equipment without compromising their financial stability. Equipment finance providers cater specifically to the unique needs of plasterers. They understand the challenges and requirements of the industry, allowing them to offer tailored financing options that align with the cash flow dynamics of plastering businesses. Overall, equipment finance provides a practical and efficient way for plasterers in Australia to obtain the equipment they need to deliver top-quality results. By leveraging equipment finance, plasterers can focus on their trade while maintaining financial stability and avoiding the upfront costs associated with equipment purchases.

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Top 10 Types of Equipment Plasterers Can Purchase With Equipment Finance

Plasterers can utilise equipment finance to acquire essential tools such as scaffolding, texture sprayers, and plaster mixing machines. These equipment investments allow plasterers to work efficiently, achieve high-quality finishes, and enhance safety on the job site. Equipment finance offers flexibility for plasterers to obtain the equipment they need without upfront costs.

Here are some common types of equipment Plasterers can purchase with equipment finance:


Scaffolding provides a safe and elevated platform for plasterers to work on walls and ceilings, improving efficiency and reducing safety risks.

Plaster Mixing Machines

Plaster mixing machines streamline the process of creating plaster mixtures, saving time and ensuring consistent and high-quality mixes.

Drywall Lifters

Drywall lifters help plasterers effortlessly lift and position heavy drywall sheets, increasing productivity and reducing strain on the body.

Texture Sprayers

Texture sprayers are essential for applying decorative textures and finishes to walls and ceilings, allowing plasterers to achieve unique and visually appealing results.

Taping Tools

Taping tools, such as automatic tapers and mud boxes, facilitate the seamless application of joint compound and tape, resulting in smooth and professional finishes.

Plasterboard Cutters

Plasterboard cutters enable precise and efficient cutting of plasterboard sheets, ensuring accurate fitting and minimising material wastage.

Dust Extractors

Dust extractors effectively capture and philtre airborne dust particles generated during plastering, maintaining a clean and healthy working environment.

Plastering Trowels

Plastering trowels are indispensable tools for applying and smoothing plaster, enabling plasterers to achieve a flawless and even finish.

Corner Bead Rollers

Corner bead rollers simplify the instalation of corner beads, ensuring secure and accurate placement, enhancing the structural integrity of the finished plasterwork.

Portable Lighting

Portable lighting solutions, such as LED work lights, provide optimal visibility in dimly lit areas, allowing plasterers to work with precision and accuracy, regardless of the lighting conditions.

Top 10 Ways Plasterers Use Equipment Finance For Growth

Equipment finance offers plasterers opportunities for growth by providing access to funds for upgrading and expanding their equipment fleet, investing in specialised tools, implementing new techniques, and enhancing their marketing efforts. With equipment finance, plasterers can increase their capacity, diversify services, and improve customer satisfaction, driving business growth.

Here are some common reasons Plasterers use equipment finance for growth:

Upgrading Equipment

Plasterers can use equipment finance to upgrade their existing tools and machinery, staying up-to-date with the latest technology and improving productivity.

Expanding Equipment Fleet

Equipment finance enables plasterers to expand their equipment fleet, allowing them to take on larger projects and increase their capacity to meet client demands.

Investing in Specialised Tools

With equipment finance, plasterers can invest in specialised tools, such as drywall lifters or texture sprayers, that enhance their capabilities and allow for a wider range of services.

Acquisition of Advanced Software

Plasterers can utilise equipment finance to acquire advanced software solutions specifically designed for the industry, streamlining processes and improving efficiency.

Purchasing Safety Equipment

Equipment finance allows plasterers to invest in essential safety equipment, such as scaffolding or dust extractors, ensuring a safe working environment for themselves and their employees.

Implementing New Techniques

Plasterers can explore new techniques and applications in their trade by using equipment finance to acquire the necessary tools and equipment for training and practise.

Diversifying Service Offerings

Equipment finance enables plasterers to branch out into new service offerings by acquiring equipment needed for new applications, expanding their market reach and boosting revenue streams.

Facilitating Business Expansion

Plasterers can use equipment finance to fund business expansion, such as opening new branches or investing in additional resources, supporting growth and attracting new clients.

Enhancing Marketing Efforts

Equipment finance can be utilised to invest in marketing tools and equipment, such as cameras or graphic design software, to create captivating visual content for promotional purposes.

Improving Customer Satisfaction

Plasterers can utilise equipment finance to invest in equipment that enhances customer satisfaction, such as advanced taping tools or corner bead rollers, resulting in superior and more precise finishes.

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Advantages of Equipment Finance for Plasterers

Equipment finance for Plasterers in Australia brings several advantages, enabling them to secure the necessary equipment for their operations. Here are some of the advantages:

Access to Specialised Equipment

Plasterers in Australia can benefit from equipment finance by gaining access to specialised equipment designed specifically for their trade. This includes tools, machinery, and technology that are essential for their work, such as plastering machines, scaffolding, and trowels. Having the right equipment can significantly improve efficiency, productivity, and overall quality of work.

Improved Cash Flow

Equipment finance allows Plasterers to preserve their working capital and maintain a healthy cash flow. Instead of making a large upfront purchase, they can choose flexible financing options that involve regular payments over a fixed period. This enables them to allocate their funds towards other business expenses, such as materials, labour, and marketing, while still having access to the necessary equipment.

Tax Advantages

Through equipment finance, Plasterers can take advantage of tax benefits and deductions. Depending on the financing option chosen, they may be able to claim tax deductions on repayments, depreciation, interest, and other related expenses. These tax benefits help reduce the overall cost of acquiring and operating the equipment, making it a financially viable option for Plasterers looking to invest in their business without straining their finances.

Flexibility and Upgrading Options

Equipment finance offers Plasterers the flexibility to upgrade or replace their equipment as their needs change over time. With technological advancements, new and more efficient equipment becomes available regularly. Through financing, Plasterers can stay up-to-date with industry trends without the burden of selling or disposing of outdated equipment. This flexibility ensures that they have access to state-of-the-art tools and machinery, enabling them to deliver superior services and remain competitive in the market.

Disadvantages of Equipment Finance for Plasterers

When considering equipment finance for Plasterers in Australia, it's important to be mindful of a few considerations. Here are a few potential disadvantages to think about:

Financial Commitment

Equipment finance requires Plasterers to enter into a financial commitment, as they will be obligated to make regular payments over a fixed period. It is important for Plasterers to carefully assess their financial situation and ensure that they can comfortably meet these financial obligations. Proper budgeting and financial planning are necessary to ensure a smooth repayment process and avoid any potential financial strain.

Interest and Total Cost

When opting for equipment finance, Plasterers need to consider the interest rates associated with the financing option. While equipment finance provides immediate access to necessary equipment, the total cost of the equipment may be higher compared to an upfront purchase due to interest charges over the loan term. Plasterers should carefully evaluate the interest rates and calculate the overall cost to determine if the benefits of equipment finance outweigh the added expenses.

Ownership and Liability

With equipment finance, Plasterers do not immediately own the equipment. The equipment serves as collateral for the loan, and ownership is transferred to the Plasterers upon completion of the finance term. During this period, Plasterers are responsible for maintaining and insuring the equipment. It is essential to understand the terms and conditions of the financing agreement, including any liability in the event of damage or loss.

Impact on Credit Rating

Equipment finance requires Plasterers to undergo a credit check as part of the application process. If Plasterers have a poor credit historey or existing debt, it may impact their ability to secure favourable financing terms or result in higher interest rates. It is important for Plasterers to maintain a good credit rating and keep debt levels manageable to ensure access to competitive financing options. Regular payments towards the equipment finance can also positively impact their credit score over time.

Equipment Financing Alternatives for Plasterers

Plasterers have various alternatives to equipment finance, including business loans, equipment leasing, hire purchase, and equipment rental. These options provide flexibility in terms of ownership, payment terms, and duration of equipment use. Plasterers can choose the alternative that best suits their financial situation and operational needs.

Here are some common alternatives to equipment finance:

Business Loans

Plasterers can explore traditional business loans as an alternative to equipment financing. Business loans provide a lump sum amount that can be used to purchase equipment. Plasterers have the flexibility to choose the equipment they need and acquire it upfront. Repayments are made based on the terms of the loan, which may include interest charges. Business loans offer flexibility in terms of lenders and interest rates, allowing Plasterers to shop around for the best deal that suits their financial needs.

Equipment Leasing

Leasing is another option for Plasterers to acquire equipment without the need for a large upfront investment. Through equipment leasing, Plasterers can rent the equipment for a specific period and make regular lease payments. This allows them to access the equipment they need without the financial commitment of ownership. Leasing offers flexibility, as Plasterers can upgrade to newer equipment at the end of the lease term or extend the lease period if required.

Hire Purchase

Hire purchase is a financing option where Plasterers can acquire the equipment by making regular payments over a specified period. Unlike leasing, hire purchase agreements usually result in ownership of the equipment at the end of the term. Plasterers can spread the cost of the equipment through fixed monthly repayments, making it more manageable for their cash flow. Hire purchase agreements often include interest charges, and Plasterers should carefully review the terms and conditions before entering into such an agreement.

Equipment Rental

Equipment rental offers Plasterers the flexibility to access the necessary equipment on a short-term basis. Plasterers can rent the equipment for specific projects or periods when it is needed, without the long-term commitment of ownership or financing. Rental options allow Plasterers to use the equipment without incurring additional costs for maintenance, repairs, and storage. This is a cost-effective alternative for Plasterers who require equipment for temporary or occasional use, without the need for long-term ownership.

Equipment Finance Repayment Calculator

To estimate your monthly repayments and the total cost of the loan, input the loan amount, loan term and interest rate into the calculator below. This helps you plan your budget and choose the most suitable loan terms.

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Frequently Asked Questions

Still have questions about equipment finance?

These helpful FAQs will help you find the answers you need. If you can't find what you're looking for, you can request a callback below.

What is the interest rate on equipment finance
Can I finance used equipment?
What is the typical term for equipment finance?
Do I need to provide a down payment?
Can I get equipment finance with bad credit?
Are there any tax benefits to equipment finance?
Can I pay off my equipment loan early?
Can I lease equipment instead of buying?
What is the difference between a lease and a loan?
What happens if the equipment breaks down?
Can I refinance equipment finance?
Is equipment insurance required?
Do I need a good business credit score for equipment financing?
Can I include installation, maintenance, and other costs in my loan?