Equipment finance for professional businesses

Who this suits

Medical practices buying diagnostic or treatment equipment. Engineering firms buying vehicles, survey gear or machinery. Architects and designers fitting out studios. Technology businesses funding hardware and fit-outs. Any professional business where the equipment earns its keep.

How the process works

Tell us what you are buying and what it costs. We compare structures, usually a chattel mortgage or a lease, and match the term to the equipment's useful life. A chattel mortgage means you own the equipment from day one and claim interest and depreciation. A lease means the financier owns it and you pay rentals, with options at the end.

The right choice depends on your tax position, your cashflow and how long you will keep the equipment. Your accountant's advice matters here, and we work alongside them rather than around them.

What lenders look for

The equipment itself is the security, so assessment is usually lighter than property lending. Lenders want to see that the business can service the repayments, that the equipment holds value, and that the term matches its life. Newer businesses face more questions than established ones.

Rates and terms vary by equipment type, age and lender appetite. Comparing the panel matters as much here as it does in home lending.

What you will typically need

• A quote or invoice for the equipment
• Business financials or bank statements, depending on the lender
• Your ABN and business details
• Identification for the directors or owners
• Existing loan statements where relevant

Common questions

Chattel mortgage or lease: which is better?

Neither is universally better. A chattel mortgage suits businesses that want ownership and depreciation. A lease suits businesses that want lower upfront cost and flexibility. Your tax position decides it, so involve your accountant.

Can I finance used equipment?

Yes, though lender appetite narrows as equipment ages. New equipment from a dealer is the simplest approval. Private sale and older equipment are possible with the right lender.

How quickly can equipment finance settle?

Often within days once the quote and financials are in. Equipment deals are usually faster than property because the assessment is narrower.

Can a new business get equipment finance?

Yes, with more questions asked. Lenders look at your industry experience, contracts and deposit. Established professionals starting their own practice or firm usually present well.

Does equipment finance affect my home borrowing?

Yes, because the repayment is a commitment in your personal assessment if you are a director or owner. We size equipment facilities with your property plans in mind.