The right equipment can help your business in becoming more productive and profitable. So, if you want to drive your business forward and you don’t have the available cash flow to invest in equipment, you can obtain finance for it. Business equipment finance can be used for purchasing new and used equipment or vehicles. It will help you in conserving your working capital for other purposes like inventory or operating expenses.Business equipment finance is ideal for established businesses who want to finance the purchase of:>> Cars, utilities and light commercial vehicles>> Trucks and buses>> Forklifts>> Computing and office equipment>> Printing, medical and manufacturing equipment, or>> Industrial plant equipmentChoosing the Right Business Equipment Finance ArrangementLenders/credit providers offer many types of business equipment finance options. You have to choose the right one in order to run your business smoothly. Here is a list of different types of vehicle and equipment finance arrangements available in the market:Finance Lease – This financing arrangement allows you to use the equipment or vehicles and also lets you enjoy the benefits of ownership. The lender/credit provider retains actual ownership of the goods.Commercial Hire Purchase – In this financing arrangement, the lender/credit provider owns the equipment or vehicles during the hiring period (usually two to five years). And, when you pay the final instalment, ownership is automatically transferred to you.Chattel Mortgage – It is an effective way to finance goods for business use. Under this loan agreement, you will borrow funds to purchase equipment or vehicles (chattel) and you will also take its ownership at the time of purchase. Against these benefits, you will provide the security for the loan to the lender/credit provider by way of a mortgage over the equipment or vehicles.Equipment Rental – It is an agreement between the lender/credit provider and you whereby the lender/credit provider buys the equipment or vehicles on behalf of you and rents it back to you over a fixed period (two to five years).Seeking the Right Advice for obtaining the Right Business Equipment FinanceIt is vital for your business that you have the right finance structure in place. If you choose the wrong loan package, you may end up hurting the financial stability of your business. To avoid such mistakes, you must consult an expert commercial finance broker. He/she has a thorough knowledge of the credit policies and standard requirements for business equipment finance. So, he/she will be able to provide you the right financial advice. You should also seek help of your accountant in understanding the treatment of depreciation and any tax advantages that may be available to you.So, this is how you can obtain the much-needed equipment finance for your business.Best of Luck! Hope you get the right financing deal.