Business Equipment Loans

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Safe and secure equipment loans for your business

An equipment loan is a type of small business loan specifically for the purchase of equipment and machinery deemed essential to running a business. Equipment loans can be used to purchase anything from furniture for your office to commercial ovens or other types of machinery. With an equipment loan, you will be able to quickly gather the capital to buy or lease machinery for your business. These loans also make it easy to manage your cash flow as you can spread your payments out over a longer period of time. At Simply Finance, we specialise in loans for small business owners and compare rates from hundreds of lenders to ensure you get the best deal

Reputable lenders

Talk with a range of trusted Australian lenders.

Competitive rates

Find competitive industry rates for your equipment loan.

Fast approval process

Get approval the same business day.

What type of businesses generally need equipment loans?

Any business that uses equipment can get equipment financing. From farm machinery, forestry, industrial equipment, trucking, and dental/medical equipment to computer software – all of these can benefit from business equipment loans. Simply Finance can help with any type of business, not just the ones listed above.

Farm equipment loans

Farm equipment loans are usually the only option for farmers to afford the expensive equipment needed to do their jobs. These loans can be used for tractors, harvest and tillage equipment or other agricultural needs. In this type of loan, the equipment you’re financing serves as the capital.

Software equipment loans

As information systems are progressively developing and getting more complex, software investment for small businesses is becoming more and more important. With a software equipment loan, you can raise the necessary capital for website funding, accounting software, trading software, process management software, off the shelf software packages and more.

Forestry equipment loans

Forestry equipment and machinery can be incredibly expensive. By getting a forestry equipment loan for your business, you can buy or lease the equipment you need and spread payments out over a longer period of time. This can help manage your cash flow, and in some instances, tax write-offs may be available.

Heavy machinery equipment loans

With heavy machinery equipment, you can get equipment financing, and the machinery you buy will act as collateral. This is a great option as heavy machinery is expensive, and financing is the best way to get the equipment you need quickly so you can begin to get your new business going or expand your already established business.

Dental & medical equipment loans

Dental and medical equipment can definitely break the bank. In terms of equipment, it consistently ranks as one of the most expensive out there. The stress of getting the capital needed for this equipment can be erased by getting a business equipment loan through Simply Finance.

What type of loan should I get for my small business?

We offer different types of loans that may be better suited to your individual situation for small businesses. Low-document loans take the stress out of preparing dozens of documents by just requiring proof of ID and some supporting information to get your loan. A chattel mortgage loan is when your lender purchases the vehicle, registers a chattel mortgage, fixes an interest rate and sets up a repayment schedule agreed upon by you. Under a novated lease, your vehicle is financed from your pre-tax income through a payment sacrifice agreement with your employer.

When you contact us, Simply Finance will endeavour to find the right loan for your company.

A low-document (or low-doc) loan is a fast and easy way to secure financing

If you’re self-employed, a sole trader or a small business owner, the laundry list of details and documents that big banks or loan institutions ask for can be overwhelming.

Low-document loans just need proof of ID and some supporting information – simple, easy and fast!

A chattel mortgage is a great option if you use your equipment for your business at least 51% of the time

Your lender of choice will purchase your business equipment, register a chattel mortgage, fix an interest rate and set up a repayment schedule agreed to by you. Enjoy tax-deductible interest charges and depreciation if you own a small business.

  • Fixed interest rate
  • Flexible loan lengths ranging from one to seven years
  • Residual value or balloon payments available

Get all the perks of equipment ownership without the responsibility

Pay a fixed monthly lease or rental amount for the lifespan of your loan for ultimate business flexibility. Rest assured, asset leases are structured in line with ATO guidelines, sitting on the balance sheet as a business expense. Your options are…

  • Pay your equipment’s remaining value and take ownership
  • Make the switch or trade your gear
  • Refinance outstanding payments

Do equipment loans have GST?

The price you will pay for the equipment includes GST. But you can usually claim a GST credit for equipment used by your business.

What commercial lenders does Simply Finance work with? 

Simply Finance works with commercial lenders such as Westpac, ANZ, Commonwealth Bank, and NAB. We also work with over 20 other lenders and often get rates for our customers that are better than the four major banks.

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4 Westside Avenue, Port Melbourne, VIC, 3207