Best Equipment Finance Companies - Compare 80+ Lenders

Using a comparison service like ours that uses a "soft credit check" does not impact your score. Direct applications to financial institutions, however, usually leave a "hard" footprint on your credit file.

No. While property owners often access lower secured pricing, there are many unsecured loan options available that rely on your business earnings and trading history for approval.

Think of a Chattel Mortgage as a "Home Loan for your Equipment." The machine is yours from day one, and your name is on the invoice, allowing you to claim tax benefits. The lender simply holds a "mortgage" (charge) over it until the final payment is made, just like a bank has a mortgage over a house.

Financing a private sale shifts the administrative burden to you. You must manually verify the seller, organise an inspection, take photos of the VIN/Serial Plate, and run a PPSR check for any debt on the machine. In contrast, a dealer manages this compliance, often emailing a "finance pack" directly to the broker to expedite the process.

Most commercial brokerage services are free for business owners. If you proceed with a loan, the broker receives a commission from the provider. This is always disclosed to you to ensure transparency.

Yes, specialist lenders can help. A newly registered pressure washing business in Geelong, only seven months into trading, was declined by its main bank. A startup-friendly lender reviewed its bank statements and contracts and approved a $42,000 facility for essential equipment within 24 hours, enabling the business to triple its revenue.

Think of it as a pre-approved "Shopping Limit" for equipment, e.g., for frequent machinery upgrades in construction or agriculture. Once approved (typically for $500k to $1M), you don’t need to reapply every time you need a new machine; you just email the invoice for immediate funding. It's a premium product for sophisticated businesses, generally with $5M+ in annual turnover.

For acquiring machinery, costs are typically fixed for the term of the agreement. This provides certainty for budgeting your repayments.

Yes, but be aware of early termination charges. Some providers charge a cost calculated on the remaining interest, while others have simpler exit costs. Always check your contract details.

Yes. Newer assets generally attract lower interest rates. However, we have specialist providers who fund older, used assets that banks typically avoid, such as a 10-year-old tipper trailer for a landscaper, which saved him over $18,000 compared to buying new.

Not always. Many of our providers offer 100% finance, meaning no deposit is required. This keeps your working capital free.

For standard applications with clear documentation, approvals can happen in as little as 24 hours. More complex deals may take 2-3 days.

Generally, yes, if the asset is used for business purposes. However, you should speak to your accountant to understand your specific tax position.