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Equipment Finance

An Equipment Loan provides funds for your business to purchase new machinery, vehicles, tools, or any other equipment you may need. Also known as asset finance, this type of loan is generally secured against the value of the physical asset you plan to purchase.

Equipment Finance: Eligibility Criteria

Lending criteria may vary lender to lender, so we take the time to understand what your business needs. Eligibility criteria is subject to each individual lender, as well as the type of equipment you’re financing and your business type. Finance options may differ depending on whether you intend to purchase or lease the equipment.

GST registered ABN

The equipment is to be used for business purposes

Have a relatively strong credit score

Your business has been registered for 12 months

FAQs

Frequently Asked Questions

Equipment Loan, Chattel Mortgage, Hire-Purchase Agreement and Lease Agreement.
It may not be too late to set up financing if you have already purchased the equipment. There is a possibility to reimburse you for the costs to free up your funds.
You may be able to claim a deduction for depreciation of the asset and your repayments, your accountant will be able to provide further information.
Upon providing your documentation for your application, it can be as quick as 24 hours.

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