Your first machine, an upgrade, another unit for the fleet or a refinance: the finance side doesn’t need to be complicated. Getting started is simpler than most people expect.
What we need from you
- The driver’s licence of the business’s director
- Your ABN
- What you’re buying. A rough idea is plenty: “a 5-tonne excavator” or “a used forklift” is a fine start.
- Why you’re buying it: replacing gear, expanding the business, and so on.
Every lender on our panel has its own policy on what else is needed. Our job is to match you to a lender whose requirements you can actually meet.
Less paperwork: low-doc
Some lenders offer low-doc options for eligible businesses: less financial paperwork, often in exchange for a larger deposit or a different rate. Ask upfront rather than assuming you do or don’t qualify.
Buying privately? We do the legwork
Finance works for new and used gear, from a dealer or a private sale. An older or well-used unit can change which lenders will look at it, so mention it upfront.
Private sales need inspections and valuations, and we take care of those. We also deal with the seller directly, chase their documents and even generate the tax invoice.
Which loan structure?
Most equipment finance is a chattel mortgage, sometimes with a balloon payment to lower the repayments. Which suits you depends on how long you’ll keep the gear, your cash flow and your accountant’s advice.
Find out your borrowing power for free
We take your deal to our panel of 40+ lenders and come back with options that fit. Asking us to assess your profile costs nothing and doesn’t affect your credit file. You could be eligible for up to $500k without knowing it.
Common questions
What is equipment finance?
A loan or lease that lets a business buy machinery, vehicles or tools and pay for them over time. The equipment itself usually secures the loan.
How does equipment finance work?
The lender pays the supplier, your business gets the equipment straight away, and you repay in fixed instalments over an agreed term.
Is leasing better than a chattel mortgage?
Neither is better for everyone. With a lease the lender owns the equipment and you pay to use it; with a chattel mortgage your business owns it, so check tax and GST with your accountant.
What can you use equipment finance for?
Almost any equipment a business uses to earn income, from earthmoving gear, trucks and forklifts to farm machinery and workshop tools. Specialised gear can be financed too, but fewer lenders will look at it.
Have a question about your deal?