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EQUIPMENT FUNDING MADE EASY

Rent-it-Today (RIT) is Caterlink’s in-house commercial kitchen equipment funding solution for hospitality industries of all sizes. Whether you are a small start-up café or a five-star hotel, our RIT solution can help your business acquire the kitchen equipment you need most.

5 Simple Steps to Get Your RIT Equipment Today

1. Get Your Quotation

Consult with our kitchen specialist about your kitchen equipment needs.

2. Rental Application

Application form completed for approval.

3. Signed Rental Agreement

After approval, rental documents are electronicaly signed and the deposit is paid.

4. Delivery

Goods received by either pick-up or delivery (charges apply)

5. Growth

By renting, you can invest funds in other parts of your business.

Benefits of Rent It Today

  1. Warranty Coverage 1

    We cover all manufacturer’s warranty for the duration of the active rental equipment term.

  2. 100% Tax Deductible 2

    Our rental agreement is an operating lease for tax purposes, meaning payments are an operating expense and fully tax deductible. GST is also claimed in each payment. Our rental program is as simple as paying an affordable weekly amount over time rather than paying the full amount up-front.

  3. 75% Rebate 3

    Buy out the goods at any time with a 75% rebate of the rent paid to date subtracted off the finance price.

  4. Low Weekly Payments

    Free up your cash that could be better used improving your business. By renting our kitchen equipment, rather than paying a large sum of money upfront to purchase equipment, you incur an affordable on-going weekly expense.

  5. Easy Finance Approval

    Prompt application processing with all the rental contract documentations drawn up within 24-business hours. It is obligation free and there’s no application fees with only minimal documentation required. All applications are assessed on a case by case basis.

  6. Off ‘Balance Sheet’

    Does not appear on your balance sheet as debt or loan. Renting does not affect the business’ capacity to borrow for future expansion. This means you can keep your cash flowing and maintain liquidity without affecting your personal borrowing.

  7. Flexible Terms

    Flexible terms (12, 24 or 36 months) and options at the end the term to keep on renting, upgrade your equipment, buy it out or simply return the unit back to us.

  8. Terms & Conditions

    1 Subject to correct use of equipment in accordance with manufacturer’s manual, and no rental arrears.
    2 Caterlink is not aware of individual taxation situations. Advice should be taken from your accountant prior to renting.
    3 Maximum rebate of 90% of the finance price.

What is Rent-It-Today all about?

Rent-It-Today (RIT) is an affordable way to obtain the equipment that you need to begin your business, leaving you with cash/capital in your pocket to maintain cashflow. We get a loan from the bank to purchase the equipment directly from our suppliers and rent it to you for an agreed term (12, 24 or 36 months). You can purchase the equipment at any time with 75% rebate. At the end of the term you can continue to rent, upgrade, buy-it-out, or simply return the equipment back to us.

Who owns the equipment?

Caterlink does. The benefit of this is we cover the manufacturer’s warranty of the equipment.

What do I need to apply?

We like to keep things simple. Unlike the big banks who require a lot of paperwork, we just require the basic information about your business. The amount of information we ask will be dependent on the size and assessed risk of the agreement.

What is the interest rate?

Unlike a loan, no interest is charged because you are paying for the use of the equipment over a fixed term. You are not repaying a loan.

I am selling my business. What options do I have with my rental contract?

The rental contract is transferable. Please contact our Equipment Finance Manager to discuss this.

What if I want to own the equipment outright?

You can buy out the goods at any time with the 75% rebate of the rent paid to date (maximum rebate of 90%) off the finance price.

What happens at the completion of the rental term?

You have the following options:

  • Continue Renting – continue to rent with manufacturer’s warranty coverage and claim your tax benefits.
  • Return the Goods – delivery to be organized by the client.
  • Own – buy the goods at any time with the 75% rebate of the rent paid to date off the finance price (maximum rebate of 90%).
Are my payments tax deductible?

Yes – up to 100% depending on the portion of usage for the business. Tax advice from your accountant should be sought before deciding to rent.

What is the $ limit I can rent?

We can offer you a lease from $2,500 (can be for a package of smaller equipment total) to $200,000 to suit your business needs.

Are there any fees?

The only upfront payment is 8 weeks security deposit which is refundable at the end of the contract, providing that there’s no arrears or any repair costs necessary.

How do repayments work?

It is important to offer you a hassle-free-way to pay the weekly rental. To help you avoid missing rental payments, we automatically deduct from your nominated bank account.

What happens when something goes wrong with the equipment?

All manufacturing repairs and breakdowns are covered during the rental period. This does not include general servicing, issues caused by lack of maintenance or improper use, back to base transport or blocked condensers.

Will the contract ever expire?

No, the contract will be active until the equipment is purchased or when you choose to terminate the contract at the end of the term.

Can I cancel and hand back the equipment before the end of the term?

If you return the equipment before the end of the term you must pay the balance owed (termination fee).

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