Compare Your Best Machinery Finance Rates
Get machinery finance approval in as little as 24 hours for funding up to $3M+. We instantly compare 80+ lenders to find your best deal.
OUR CURRENT BEST MACHINERY LOAN RATES
From
6.64%
From
6.69%
From
7.49%
3 SIMPLE STEPS TO APPLY FOR MACHINERY FINANCE
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Start with one simple form, not dozens of banking applications. It's fast, secure, and your initial check with us won't affect your credit score.
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Our technology instantly matches your needs with over 80 lenders, finding the one most likely to approve you. This is how we achieve a high first application approval rate.
Get Approved
Review your funding option with our team. Once you give the green light, we handle the settlement to get you funded, often on the same day.
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Trusted by Australian business owners
"Traditional lenders make you wait, which puts your deal at risk of falling through. Our technology is designed to do the opposite. It finds the lender ready to fund you now. This gives you the power to negotiate and secure the machinery you need with confidence."
Andrew Beckett, Head of Broker and Third Party Distribution
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Your Guide to Machinery Finance
This guide provides the clarity you need to secure the right funding for the machinery your business depends on. We explain your finance options, what they cost, and how to prepare for a fast approval. This is your comprehensive guide to machinery finance.
Updated: 1/14/2026
Key Figures for Machinery Finance
The machinery finance market is vast, meaning there can be a huge variation in potential business funding costs, fees, and approval chances. Understanding this landscape is the first step to securing the plant or equipment you need without overpaying.
24 Hours
Average funding time
75%
Approval rate for new businesses (<2 years)
35%
Funded purchases with private sellers
40%+
Clients who return to finance their next asset
Do You Qualify to Finance Plant & Machinery?
Below are the requirements our lender panel uses. Meeting these criteria will put you in a strong position for a fast approval to finance a plant or other machinery.
- ABN & Business Structure : You need an active ABN and to operate as a Sole Trader, Company, or Trust.
- Minimum Trading History : While 6 to 12 months is standard, we can secure finance for clients with a 1-day ABN if other factors like director experience are strong.
- Minimum Revenue : Lenders look for reliable cash flow. A minimum monthly turnover of around $10,000 is a strong starting point for most applications.
- Credit Score: While a business credit score over 600 will secure the best terms, it is not a deal-breaker. We work with specialist lenders who can approve funding for clients with lower scores.
How This Type of Financing Works
This type of financing allows a business to purchase or lease heavy machinery without the large upfront cost. Instead, you get the item now and pay for it over an agreed period, preserving your cash flow for other operational needs.
- Borrowing Amount: Anywhere from $10,000 to over $1,000,000.
- Loan Terms: Typically range from 1 to 7 years.
- Purchase Options: Freedom to buy from a dealership, at an auction, or via a private sale.
- Costs: Based on the machinery being financed and your business's risk profile.
- Finance Structures: Term loan (Chattel Mortgage), lease, and hire purchase options are available.
- Repayment Schedules: Choose from weekly, fortnightly, or monthly repayments to align with your cash flow.
- Deposit & Balloon: No deposit is required in most cases, with the option to include a balloon payment to reduce regular repayments.
- Tax Benefits: The charges on the business funding and associated fees may be tax deductible. Always consult with your accountant.
Key Questions Answered
A Chattel Mortgage is like a mortgage for your machine; you own it from day one, and the lender holds security over the asset. A Finance Lease is like renting; the lender owns the item and you pay to use it, with an option to buy at the end. A Hire Purchase is a rent-to-own agreement where ownership automatically transfers to you after the final payment.
In most cases, no. With machine finance, lenders will typically finance 100% of the machinery's purchase price. This allows you to keep your working capital in your business for other expenses like fuel, wages, and materials.
We can arrange finance for a wide range of older, quality items. For example, we recently funded a well-maintained 15-year old excavator for a client, an age most major banks would instantly reject.
Yes, and we strongly recommend it. Once matched with your expert lender, they can arrange a pre-approval that gives you a firm budget. This turns you into a cash buyer, which is essential if you're planning to bid at places like Pickles or Grays.
You typically have three flexible options:
- Hand the machinery back and upgrade to a new model, starting a new agreement.
- Make an offer to purchase it for its agreed residual value.
- Extend the agreement for another term.
How to Apply for Machinery Finance
Have these items ready for a fast process. A clear photo of the front and back of your driver's licence to verify identity. The formal invoice from the dealer or a link to the private sale listing to confirm the item.
Step 1: Gather Your Key Documents
Have these items ready for a fast process. A clear photo of the front and back of your driver's licence to verify identity. The formal invoice from the dealer or a link to the private sale listing to confirm the item.
Step 2: Provide Proof of Income
Securely providing the last 6 to 12 months of business bank statements is the key to speed. This is the fastest way for a lender to verify your income and see your business's real-time health.
Step 3: Review and Settle
Once approved, you will receive formal documents to review and sign electronically. After you have signed, the funds are typically transferred directly to the seller, and you can arrange to take possession of your new machine.
Helpful Finance Calculators
Choosing the Right Machinery Finance Structure
Selecting the right product is a strategic decision that impacts your cash flow, balance sheet, and tax position. Below, we compare the three main structures to help you decide on your machinery finance.
Finance Type | Best For (Pros) | Considerations (Cons) |
|---|---|---|
Chattel Mortgage | Maximising tax deductions & long-term ownership. You own the machinery from day one. | The full funding amount appears on your balance sheet, which may affect other financial arrangements. |
Finance Lease | Accessing the latest technology & protecting cash flow. Payments are operating expenses. | You don't own the machinery during the term. There may be conditions on usage and maintenance. |
Hire Purchase | A simple, direct path to ownership. GST is handled within each repayment. | Less flexible than other options. You don't own the machine until the final payment is made. |
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Lenders assess your ability to repay the machinery loan by looking at your business's income and existing debts. They want to see that your cash flow can comfortably cover the new repayment. The value and type of the machinery being financed also play a key role in their decision.
Yes. Before releasing funds to the seller, the lender will require a certificate of currency proving the machinery is comprehensively insured for its full replacement value. This protects you and the lender in case of theft or damage.
This varies between lenders. Some machinery finance products are designed for flexibility and have minimal or no early payout fees, while others may include them. If paying the loan off early is a priority, mention this upfront so your broker can find a suitable option.
For applicants with a strong profile, it is possible to secure up to $500,000 for plant and equipment with a low-doc loan. These use alternative income verification like bank statements or an accountant's letter instead of full financial records, making the process faster.
The tax benefits depend on the finance structure. With a Chattel Mortgage, you can typically claim the GST on the machinery's price upfront on your next BAS, plus depreciation and interest as deductions. With a lease, the rental payments are usually 100% tax-deductible. Always consult your accountant for specific advice.
Absolutely. You can finance almost any tangible asset used for your business operations. This includes construction and earthmoving machinery like excavators and dozers, agricultural equipment like tractors and harvesters, and specialised industrial plant for manufacturing.
Financing a used machine from a private seller usually requires an independent inspection and valuation to confirm its condition and market value for the lender. A finance specialist can help manage this process to ensure the loan proceeds smoothly.
From 'Approved' to 'Funded', What Happens Next?
Once your low doc loan is approved, the final steps to accessing your funds are quick and straightforward.
- Review Your Loan Offer and Documents
Your lender or broker will send you the formal business loan contract. This outlines all key details, including the total repayment amount and any fees. It is crucial to read this carefully. - Sign Your Documents Digitally
Once you are satisfied with the offer, you can typically use digital document signing on a secure platform. This eliminates the need for printing and scanning, making the process much faster. - Funds are Transferred to Your Account
After the signed documents are received and a final check is completed, the lender will arrange a fast fund transfer directly into your chosen business bank account.
Andrew Beckett is a finance executive with extensive Fintech expertise. As Head of Broker and Third Party Distribution at Lend, he fostered key partnerships, including COG aggregation and CAFBA. With prior sales roles in various fintech and finance companies, Andrew has been instrumental in transforming Australia's financial market, shaping new lending practices in the commercial lending space.
Andrew Beckett, Head of Broker and Third Party Distribution
Phil Druce leads the company’s technology and operations. With 20 years of experience in technology businesses, Phil has consistently driven growth through strategic planning and execution. Since 2016, he has been dedicated to creating technology-driven products and services at Lend, optimising processes, and delivering outstanding client experiences.
Phil Druce, Chief Operations Officer
Machinery Finance Success Stories
Urgent Excavator Finance to Win a Contract
Ben, a concreter, faced a crisis when a client's late payment left him needing an urgent $45,000. A paid default and low credit score meant traditional lenders said no. We looked past his credit history and focused on his business, securing the full $45,000 as a 12-month term loan. With funds settled in just 24 hours, he avoided a shutdown and now has a pathway to rebuild his credit and access further funding.
Upgrading a Harvester to Boost Harvest Efficiency
Mia, who runs a farming business with 18 months of trading, needed to finance a $180,000 used harvester from a private seller to manage a bumper crop. Major banks declined the finance due to the business's age and the nature of the sale, putting over $80,000 of potential revenue at risk. We connected her with a specialist lender who approved the deal in under 48 hours. A chattel mortgage with a balloon payment option was structured to keep her monthly repayments low, preserving cash flow during the busy harvest season. This allowed her to secure the machinery, maximize her crop yield, and benefit from significant tax advantages.
Fast Finance for Used CNC Machine Unlocks Major Contract
Sarah, owner of a manufacturing business with 18 months of trading, needed a $95,000 used CNC machine from a private seller to secure a major new contract. Traditional lenders rejected her due to the business’s age and a minor credit blemish, placing over $200,000 in potential revenue at risk. We connected her with a specialist lender who approved the deal in just 36 hours. A hire purchase agreement with a balloon payment was structured to keep repayments low, preserving critical cash flow for operations. This allowed her to acquire the machine, fulfill the lucrative contract, and scale her business for future growth.
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Find Your Best Machinery Loan Option
Find your best loan match from 80+ lenders now. Get a fast, competitive comparison without impacting your credit score for your machinery finance.
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