You can arrange funding for a wide range of business-use equipment. This includes motor vehicles, trucks, yellow goods (construction and mining equipment), and machinery for industries like transport, hospitality, and manufacturing. Lenders frequently provide commercial truck loans, finance for excavators, or fund specialised IT equipment.

With a chattel mortgage, you own the asset from day one, and it appears on your business balance sheet, which can offer tax benefits like claiming depreciation. With finance leases or operating leases, the lender owns the asset while you use it, keeping it off your balance sheet. For asset finance, a chattel mortgage is the most common choice, with 90% of our clients opting for this structure.

Yes, many specialist lenders offer finance for assets purchased through private sales. The lender will need to conduct extra checks to verify the asset's condition, ownership, and value. This can sometimes result in a 1%+ interest rate increase compared to a dealership purchase.

Loan amounts typically start from around $5,000. This makes asset finance accessible for small businesses needing to fund less expensive items like a new computer system or a small delivery vehicle.

For standard assets purchased from a dealership, funding can be arranged in less than 4 hours for well-prepared applicants. More complex scenarios, like private sales or highly specialised equipment, may take 24 to 48 hours.

Prepare your documents in advance, consider a balloon payment to lower monthly repayments, and most importantly, demonstrate strong and consistent business cash flow through your bank statements. This gives lenders the confidence to offer their most competitive terms.

While banks may decline you, many specialist lenders prioritise current business strength over past issues. If you have an active payment plan for any tax debt and can show strong cash flow, a solution is often achievable. Our data shows an approval rate of 75% for clients with a paid default on their credit file.

An initial enquiry to check your options should be a 'soft' credit check, which will not be recorded on your credit file. A formal application that does affect your score should only proceed after a lender has been identified with a high probability of approving you.

Beyond the interest rate, the main fees are a one-off establishment fee and sometimes a small monthly account-keeping fee. You may also need insurance. Be sure to ask about any potential early payout fees if you plan to clear the debt ahead of schedule.

Three key factors influence your rate: the asset itself (new vs used, we successfully finance used assets with an average age of 2 years), your business profile (trading history and cash flow), and the seller (dealership vs private sale). A new asset from a dealer financed by a business with a strong history will always attract the best rates. For example, financing an asset that is 7+ years old can increase the interest rate by around 3-4 basis points compared to a newer one.

Yes, in most cases, lenders can finance 100% of the asset's purchase price without requiring a deposit. This helps businesses preserve their working capital for other operational needs.

At the end of a finance lease, you typically have several options. You can pay the residual value and take ownership of the asset, trade it in for a new one and start a new lease, or extend the lease period.

It can be more challenging for a startup to get asset finance, but it is possible. Our approval rate for businesses trading for less than two years is 75%. Lenders will look for a strong business plan, and the directors being homeowners can significantly increase the chances of approval for a new business.