Business Equipment Loan

An equipment loan (sometimes referred to as a goods loan or chattel mortgage) is a popular type of equipment finance. With a equipment loan, your business owns the equipment from the beginning of the loan term without tying up valuable working capital.​

• Fast, simple and easy way to purchase equipment for your business, keeping working capital in your business
• Financed assets are used as security
• Flexible repayment options on loan terms from 1 to 10 years
• You can make as many additional repayments as you like, and there is no penalty for paying off the loan early.
• You may be able to claim interest and rental payments – check with your tax accountant.
• If eligible, you may claim a tax deduction for the total cost of the depreciating purchased asset as part of the Australian government’s instant asset write-off. Eligibility criteria change over time, so consult with your accountant or tax agent.

To be eligible for an Business Equipment Loan:

• The Business must be a tax resident of Australia, that is based, registered, and operating in Australia
• Financing equipment that will be used by a business (mostly or entirely for business purposes)
• Customers must be business entities, including sole traders, partnerships, trusts etc
• The directors, partners or sole traders must be 18 years of age or older
• Supply a directors guarantee where required

You'll need to meet additional credit eligibility criteria upon application such as:

• Have been established in their business undertaking for at least 2 years;
• Have demonstrated experienced and competent management; and
• Have a history of profitable business operations.

Available to replace, upgrade or purchase new and used equipment, such as:

• Office equipment
• General everyday business equipment such as garden tools, carpenters tools, solar panels, warehouse equipment etc

All other assets can be assessed on a case by case basis subject to an assessment of the suitability and acceptability of the asset as security, speak to one of our Business Banking Specialists