SilverChef and Pacificool

SilverChef has provided equipment finance to more than 50,000 hospitality businesses across New Zealand, Australia and Canada.

It’s quick and easy to apply online or by phone, and SilverChef looks for ways to say ‘yes’.

Benefits of SilverChef Finance

  • Don’t wait to get the equipment you need–start now without spending your capital
  • Choose from a variety of flexible finance options to suit you and your business
  • Rental or lease payments may be eligible for tax deductions–talk to a professional taxation advisor to find out more

Benefits of silverchef finance

High approval rate

SilverChef back your potential and passion. Even if you’re just starting out with your first hospitality business, SilverChef look for ways to say ‘yes’.

100% tax deductible

Rent-Try-Buy payments may be tax deductible. Talk to a professional tax advisor to find out more.

Options to lease or rent

SilverChef offer two industry-leading finance solutions, designed to suit whatever your hospitality needs are. Find out more below.

Off-balance sheet funding

Access off-balance sheet funding through Rent-Try-Buy, meaning it doesn’t affect borrowing ability.

Low weekly/monthly payments

Low payments put you in control of your cashflow, making your outgoings easier to predict, plan and manage.

Hospitality experts

SilverChef are the only dedicated equipment financier for hospitality. SilverChef understand your challenges and opportunities, and are there to help.

About SilverChef Finance

Who is SilverChef?

SilverChef is a finance provider to the hospitality industry. SilverChef have been behind the industry since 1986, proudly financing more than 50,000 hospitality businessess and investing more than $1bn and counting across Australia, New Zealand and Canada. They are also a proud certified B Corp; a new kind of business that balances purpose with profit, changing the world for the better.

What are the benefits of renting or leasing equipment?

Renting or leasing your commercial kitchen equipment can be a good alternative to buying. Firstly, there are a lot of costs involved in setting up and running a hospitality business, so choosing to rent or lease your commercial kitchen equipment can leave you more money for running your business and other expenses.

Secondly, there may be tax benefits to renting or leasing kitchen equipment – it’s important you discuss these with a qualified tax advisor before making any decisions.

Finally, with SilverChef’s Rent-Try-Buy® you get additional flexibility over typical financing options. You can decide to upgrade your equipment in the first 12 months if you need something bigger and better (in the same equipment category e.g. upgrade rented fridge to a bigger fridge); you can also decide to purchase it and get a rebate on your payments so far (up to 12 months).

At the end of your 12-month contract, you can decide whether to keep renting your commercial kitchen equipment, work towards ownership, or return. Please note that if you decide to continue renting your equipment after the end of your 12-month term, and later decide to buy, the rental rebate is lower. Also, if you return your equipment, you are responsible for cleaning and shipping costs.

What is the difference between leasing and renting commercial kitchen equipment?

Typically, the difference between leasing and renting has to do with the length of term – with the length of a lease typically being longer. SilverChef offers a rental product – Rent-Try-Buy, and a finance lease product – Lease-to-Keep®. They are different in several important ways.

With Rent-Try-Buy, you rent your commercial kitchen equipment and make weekly rental payments for a 12-month term, while retaining the option to purchase your equipment or upgrade it during the term. At the end of the 12-month rental term, you have the additional options to return, continue renting or work towards ownership with our Easy Own® product.

With Lease-to-Keep you must be financing a minimum amount of $10,000 and have been in business for at least 12 months. You sign up for a four- or five-year term, you make monthly lease payments, and at the end of the term you own the commercial kitchen equipment (providing the last payment has been made and you are not in breach of the agreement). It’s that simple!

Who is responsible for servicing, maintenance and insurance of the equipment?

As the renter or lessee of the commercial kitchen equipment, you are responsible for properly insuring it, and arranging and paying for all servicing and maintenance on the kitchen equipment. If the equipment breaks down this is a manufacturer warranty issue and you will need to contact the manufacturer to arrange repair or replacement as per their terms and conditions.

Are equipment rental payments tax deductible?

When you rent or lease restaurant equipment there may be tax benefits. It’s important you speak to a qualified accountant and/or tax advisor to find out whether you treat your rented commercial kitchen equipment as off-balance sheet, or claim tax deductions.

Am I eligible for Lease-to-Keep?

You qualify for Lease-to-Keep if you’re financing over $10,000 and your business has been operating for longer than 12 months. If you don’t qualify for Lease-to-Keep, or if you’re interested in more flexibility in your finance solution, we recommend Rent-Try-Buy®.