Equipment Loans for Australian Businesses
Flexible Asset Finance Solutions to Grow Your Business
When your business needs new equipment but cash flow is tight, our equipment loans provide the perfect solution. We help Australian businesses acquire the machinery, vehicles, and technology they need to operate efficiently and grow successfully.
Key Benefits:
- Flexible repayment options, including chattel mortgage and finance lease structures
- Competitive interest rates with transparent fee structures
- Fast approval process with dedicated business lending specialists
What Are Equipment Loans?
Equipment loans, also known as equipment finance, are specialised business loans designed to help you purchase essential business equipment without depleting your working capital. Whether you need manufacturing machinery, commercial vehicles, office technology, or plant equipment, these loans provide the funding while preserving your cash flow for daily operations.
Unlike traditional business loans, equipment finance uses the purchased asset as security, often resulting in more favourable terms and lower interest rates. This makes it an attractive option for businesses looking to upgrade their equipment or expand their operations.
Types of Equipment Finance We Offer
From machinery to vehicles, we provide a range of finance options to help your business grow. Explore our chattel mortgages, leases, and hire purchase options below to find the right fit for your cash flow and tax needs.
Chattel Mortgage
A chattel mortgage allows you to own the equipment from day one, whilst using it as security for the loan. You'll benefit from potential tax deductions on both interest payments and depreciation, making this option particularly attractive for businesses with strong cash flow.
Key Features:
- Immediate ownership of equipment
- Tax benefits through depreciation claims
- Flexible repayment terms from 1-7 years
- Option for balloon payments to reduce monthly costs
Finance Lease
With a finance lease, we purchase the equipment and lease it to your business over an agreed term. At the end of the lease, you typically have options to purchase the equipment for a nominal amount, upgrade to newer equipment, or return it.
Key Features:
- Lower upfront costs
- Fixed monthly payments for better budgeting
- Potential tax advantages
- Equipment upgrade options at lease end
Hire Purchase
Hire purchase agreements allow you to use equipment immediately whilst making regular payments. You'll own the equipment outright once all payments are completed, with no large final payment required.
Key Features:
- No deposit required in many cases
- Ownership transfers after final payment
- Fixed interest rates available
- Suitable for businesses wanting eventual ownership
Equipment We Can Finance
Our equipment loans cover a comprehensive range of business assets:
- Manufacturing & Industrial
- Production machinery and equipment
- Plant and heavy machinery
- Warehouse and logistics equipment
- Specialised industry tools
- Commercial Vehicles
- Delivery trucks and vans
- Construction vehicles
- Agricultural machinery
- Fleet vehicles
- Technology & Office Equipment
- Computer systems and servers
- Medical and dental equipment
- Restaurant and hospitality equipment
- Professional services equipment
Why Choose Mason Finance Group for Equipment Loans?
Experienced Business Lending Specialists
Our team understands the unique challenges Australian businesses face. We've helped countless companies across various industries secure the equipment finance they need to grow and succeed.
Tailored Finance Solutions
We don't believe in one-size-fits-all approaches. Our equipment loans are structured around your business needs, cash flow patterns, and growth objectives. Whether you need seasonal payment adjustments or balloon payment options, we'll work with you to create the right solution.
Competitive Rates and Transparent Fees
We offer competitive interest rates with no hidden fees. You'll know exactly what your equipment loan will cost from the outset, helping you make informed financial decisions for your business.
Fast Approval Process
We understand that business opportunities don't wait. Our streamlined application process and quick decision-making mean you can secure equipment finance when you need it most.
Eligibility Criteria
To qualify for our equipment loans, your business typically needs to meet these requirements:
- Business Age: Operating for at least 12 months
- Annual Turnover: Minimum $100,000 annual revenue
- Credit History: Satisfactory business and personal credit history
- Financial Position: Demonstrated ability to service loan repayments
- Equipment Value: Minimum loan amount of $10,000
We also consider newer businesses and those with unique circumstances on a case-by-case basis. Our lending specialists will work with you to find solutions that fit your situation.
How to Apply for Equipment Finance
It’s simple. We’ll find you the right asset finance solution that works in your best interest.
- Initial Consultation
Contact our business lending team to discuss your equipment needs and financing options. We'll help you understand which type of equipment loan best suits your business. - Application Submission
Complete our straightforward application form with details about your business, the equipment you need, and your preferred loan structure. - Documentation Review
Provide supporting documents, including:- Recent business financial statements
- Equipment quotes or invoices
- Business registration details
- Personal identification
- Assessment and Approval
Our team will assess your application quickly, often providing preliminary approval within 24-48 hours for straightforward applications. - Settlement and Equipment Purchase
Once approved, we'll arrange settlement, and you can proceed with purchasing your equipment. For chattel mortgages, you'll own the equipment immediately.
Tax Benefits of Equipment Finance
Equipment loans can provide significant tax advantages for your business:
Depreciation Claims: Under a chattel mortgage, you can claim depreciation on the equipment as you own it from day one.
Interest Deductions: Interest payments on equipment loans are typically tax-deductible business expenses.
Instant Asset Write-Off: Depending on current tax legislation, you may be able to immediately deduct the full cost of eligible equipment.
GST Benefits: You can often claim GST credits on the equipment purchase price upfront.
Note: Tax implications vary based on individual circumstances. We recommend consulting with your accountant or tax advisor to understand the specific benefits for your situation.
Get Your Equipment Loan Quote Today
Ready to acquire the equipment your business needs? Our experienced team is here to help you find the right equipment finance solution.
Contact us today for:
- Obligation-free quote and consultation
- Personalised equipment loan recommendations
- Fast application processing
- Ongoing support throughout the loan term
Don't let equipment costs hold your business back. With flexible repayment options, competitive rates, and fast approval, our equipment loans provide the financial solution you need to grow your business.
Frequently Asked Questions
What's the difference between a chattel mortgage and a finance lease for equipment?
A chattel mortgage means you own the equipment from day one and use it as loan security, allowing you to claim depreciation and interest as tax deductions. A finance lease means we own the equipment and lease it to you, with ownership typically transferring at the end for a nominal amount. The best option depends on your tax position and cash flow needs.
How quickly can I get approval for an equipment loan?
For straightforward applications with complete documentation, we often provide preliminary approval within 24-48 hours. Complex applications or those requiring additional documentation may take 3-5 business days. Once approved, settlement can typically occur within a few days.
Can I include installation and training costs in my equipment loan?
Yes, equipment loans can often include related costs such as installation, training, warranties, and delivery fees. This provides a complete financing solution for your equipment acquisition, helping you budget for the total project cost.
What happens if I want to upgrade my equipment before the loan term ends?
Options vary depending on your loan type. With finance leases, upgrade options are often built in. For chattel mortgages, you can sell the equipment and use the proceeds to pay down the loan, though early exit fees may apply. We'll discuss all options during your consultation.
Do you finance used equipment or only new equipment?
We finance both new and quality used equipment. For used equipment, we'll consider factors such as age, condition, and resale value. Generally, we finance used equipment up to 10 years old, depending on the type and condition.
What security is required for equipment loans?
The equipment itself typically serves as primary security for the loan. Depending on the loan amount and your business profile, we may also require personal guarantees from business owners or additional security such as property or other business assets.