Equipment finance built around how your business earns.

A lender pays for the equipment and you repay it over an agreed term, usually two to seven years. The equipment itself generally secures the loan, which is why equipment finance is often cheaper and easier to get than an unsecured business loan. Common structures are chattel mortgage, finance lease and operating lease.

Yes, many lenders finance used equipment and private sales. Older assets and private sales usually need a few extra checks, such as an invoice from the seller, a PPSR search to confirm there is no money owing, and sometimes an inspection or valuation. A deposit is more likely to be needed than for new equipment from a dealer.

Low doc finance is for self-employed borrowers who cannot easily provide recent tax returns or financial statements. Instead, lenders may accept BAS statements, business bank statements or an accountant's declaration. It usually requires an established ABN and a clean credit history, and loan limits and pricing can differ from full doc loans.

It depends on the structure and your circumstances. With a chattel mortgage, businesses can generally claim interest and depreciation; with a finance lease, the lease payments themselves may be deductible. Instant asset write-off rules and thresholds change from year to year, so confirm the treatment with your accountant before you buy.

A balloon (or residual) is a lump sum left owing at the end of the term. It lowers your regular repayments, but you will need to pay, refinance or trade the asset to cover it when the term ends. It can suit assets that hold their value well, such as trucks and machinery.

Some lenders will consider a business with an ABN under 12 months old, though the options are narrower than for an established business. They tend to look at your experience in the industry, the equipment, any deposit and any contracts or work already booked. A larger deposit can help. loan-o can tell you which lenders may be worth approaching for a business at your stage.

There is no single score that applies to every lender. Lenders look at your credit file, how long you have traded, the equipment being financed, any deposit and your cash flow together, and different lenders weigh these differently. If your credit history has issues, tell your broker early so the right lenders are approached first.

An enquiry with loan-o is not a credit application with any lender. We review your situation, explain your likely options and discuss any credit implications before anything is submitted. Nothing is lodged with a lender without your knowledge and agreement, so you remain in control throughout.

It varies with the lender, the equipment and how complete your documents are. Straightforward applications can move quickly, while used equipment, private sales and larger amounts usually take longer. loan-o gives you a realistic timeline before anything is submitted.

In most cases, no. Brokers are typically paid a commission by the lender once the loan settles. If a brokerage fee applies in your situation, it must be disclosed to you in a Credit Quote before you apply, and it is only payable if your loan settles.