A word from Paul Ireland, Director at Iron Capital Group.
Together with Richard Lewis and Niall Finucane, we launched Iron Capital in 2015 and have built the group to where it is today. Having recently extended our offering to work with brokers mid-last year, we provide earthmoving machinery and yellow goods to businesses who have capital intensive equipment needs.
The decision to grow our partnership base was obvious to us. We recognise that asset finance brokers are often specialists in the equipment we fund and hold close relationships with our customer base.
At Iron Capital we offer a unique rent-to-purchase method of equipment acquisition and play an active role in the ownership of each asset to allow customers to grow. With a solid understanding of client’s specific needs, brokers are best placed to identify the right opportunities for clients and know when our offering is a superior solution to traditional banking alternatives.
In 2020, we’ve seen the broker arm of our business expand as we joined the asset finance lending panels of aggregation companies Connective and College Capital Australia. Both aggregators have solid reputations in asset finance, and we’re pleased to be able to offer our specialist knowledge in the earthmoving and infrastructure sectors to their members.
More broadly across the market we’re continuing to see robust demand for yellow goods as the pipeline of construction and infrastructure projects provides sustained employment and economic movement.
Continued commitment from state governments and Australia’s infrastructure minister to fast-track assessments to kick off shovel ready projects is expected to inject industry confidence back into the market and provide ongoing work in the sector beyond what currently exists.
We’ve also seen tax breaks from the government adding confidence for business to purchase necessary gear to keep moving, including the instant asset write-off threshold which has increased from $30,000 to $150,000 and expanded access to include businesses with an aggregated annual turnover of less than $500 million.
As we move forward throughout these times and expand the broker arm of our business, we look forward to continuing to develop our relationships with our broker partners and support your clients get in the ground as soon as it’s needed.