Low Doc Approvals up to $250k

Borrow up to 100%

Up to 7 years term loan

Competitive interest rates

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Understanding Equipment Financing

Equipment financing is a loan or lease specifically for buying business equipment. It lets you finance up to 100% of the equipment’s price, with set interest rates and repayment periods. This option is only for business-related purchases and can cover a wide range of assets:

  • Medical, engineering, printing, and dental tools.
  • Machinery like forklifts and excavators.
  • Company vehicles, computers, electronics, and construction gear.
  • Second-hand or used equipment.
  • Construction and earthmoving equipment, etc.

It’s ideal for all business types, enabling affordable updates or additions to your equipment without a huge upfront cost.

Who Can Apply?

To qualify, you need:

  • An active Australian Business Number (ABN).
  • To be a tax resident of Australia.
  • To use the equipment mainly for business.

Broc Finance can guide you to the right loan to get equipment finance in Australia, offering good terms and rates.

What you should know about equipment finance

Have questions? Speak to our experts!

Business Owner

The business owner can use it to buy new and used equipment (locally sourced or imported). As you can see, the importance and need for equipment finance span across industries. The kind of business applying for financing can be a local printer (printers), a café (cappuccino machine), a dentist (tools of dentistry), or a manufacturing unit (heavy machinery). Equipment finance ensures that the business owner stays within a budget when spending on tools of the trade they need temporarily. It requires a smaller capital investment, unlike buying the equipment upfront.

Eligibility

  • Have an active ABN for the business
  • Should be a tax resident of Australia
  • Equipment to be used fully or predominantly for business purposes.

If you are interested in applying for equipment finance in Australia, Broc Finance can help you connect with the perfect lender, ready to offer you an adequate loan against favourable terms and interest rates. Reach out to our experts for more details on equipment finance in Australia.

Key Features of Equipment Finance

Perfect for businesses seeking flexible financing options to expand business operations and increase productivity, equipment finance has distinctive attributes, such as;

  • Strictly for Equipment: Finance new tools for your business.
  • No Deposit: Start without an upfront payment.
  • Buy or Lease: Choose what's best for your business.
  • Bad Credit Options: Available even with a poor credit history.
  • Rate Choices: Pick between fixed or variable rates.
  • Secured or Unsecured: Options with or without collateral.

This financing is a smart choice for businesses aiming to grow without financial strain.

Benefits of Equipment Finance

Equipment finance has multiple benefits for businesses of all forms and stature. Let’s list a few of them for your understanding.

  • Improve your Cash Flow: Spread out equipment costs over time.
  • Access Better Equipment: Afford high-quality tools.
  • Saves Other Credit Lines: Keep other loans or credits available.
  • Quick Funding: Broc Finance offers rapid financing.
  • Supports Growth: Ideal for small businesses and startups.

These above reasons make equipment finance product as one of the most sought-after asset finance solutions in Australia

How to Get the Best Equipment Finance Rates?

The equipment finance rates vary from one business to another. The finance brokers and the lenders usually assess the creditworthiness of the borrower before setting an interest rate. Multiple factors can determine a borrower’s creditworthiness or loan risk. Some of the tell-tale factors influencing the equipment finance rate are:

  • The total amount the borrower wishes to borrow
  • Type of machinery or equipment
  • Whether it will be a lease or a purchase
  • Whether it is new equipment or used
  • The trading history of the company applying for financing
  • Monthly revenue and banking conduct of the borrower
  • The term of the loan
  • Business and personal credit history
  • Whether the borrower has a real estate property backing

For further details on getting the best equipment finance rates in Australia, reach out to our experts at Broc Finance. They will walk you through the needful.

How Broc Finance Can Help You?

Broc Finance stands out as a leading equipment finance broker, committed to propelling Australian startups and SMEs forward. We excel in connecting your business with top-tier equipment finance companies, ensuring you secure the best finance terms and interest rates.

Why Broc Finance?

  • Personalised Financing: We deliver financing solutions designed specifically for the diverse needs of your business.
  • Growth and Cash Flow: Our services are crafted to boost your business growth and maintain robust cash flow.
  • Rapid Fund Access: We guarantee fast funding to meet your urgent financial needs.
  • Expert Loan Guidance: From application to funding, our experts ensure a smooth loan process.
  • Inclusive Financial Support: We cater to businesses with varied financial backgrounds, offering support even with low credit scores.

Our mission is to enhance your business’s success and growth by providing streamlined access to comprehensive financing options. Partner with Broc Finance, and let us be the catalyst for your next big leap in business with the right equipment finance solution.

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Why should you choose Broc Finance?

Tailor made options

Being a small business owner, many of our clients are not sure of right loan product for their businesses. Our lending specialists understand their needs and recommend tailor made options.

Personal Consultation

Unlike business loan marketplace websites which use AI based algorithms to match your requirements, we provide obligation free personal consultation as every business is different and an AI based algorithm may not provide them the optimum solution.

personal-consultation

Competitive Pricing

We endeavour to achieve the optimum business loan solution for our clients at the most competitive pricing possible.

Clear communication

We understand the essence of time so don’t believe in wasting our customers time by giving false hopes. Transparent and clear communication is in our DNA.

Real results with real people.

Niteesha Nagowah

Niteesha Nagowah

We had an incredible experience working with Saroj from Broc Finance. He is incredibly knowledgeable, responsive, and guided us through the purchase of our company vehicle with expertise. The attention to detail and commitment to finding the best possible options truly set him apart. Highly recommend his services for anyone navigating the complexities of obtaining a finance. Thank you again for outstanding assistance.
vishal srivastava

vishal srivastava

We have used Broc Finance over last 2 years for various business line of credits and vehicle loan. Broc finance have been very professional in this journey. They have understood our needs as business and catered the solutions as per requirement . They look around in market and get one the best financial solution for the business be at vehicle of line of credits . I would strongly recommend the business for there services
Nasir sabiry

Nasir sabiry

Thank you very much in helping me with financing a car SAS. You have been very professional and responsive every time I needed information. Fully recommend to any looking to finance a car.
Ajay Kanumuri

Ajay Kanumuri

I would strongly recommend. Saroj Shah helped to get my loan with in span of three days. He was very supportive and clearly explained the loan process.
Atulkumar Patel

Atulkumar Patel

I don't want to miss this opportunity to say About Saroj Work that he just made it impossible job into possible , I have got loan of 1.5 million event though I have very low credit score . Great work , and highly recommend for any kind of loan issues.
Tajinder Kumar

Tajinder Kumar

For those seeking a trustworthy and dependable financial broker, I would like to recommend Broc Finance. While their fees may be slightly higher compared to other brokers, I found that their personalized approach made it worth it. Broc Finance took the time to understand my specific needs and goals and tailored their services accordingly. Additionally, their prompt availability to answer any questions or concerns was greatly appreciated. Overall, if you're in search of comprehensive and professional financial advice, Broc Finance is an excellent option to consider.
Scott Filby

Scott Filby

Excellent experience with the service of Saroj! He did all the hard work and helped me find what I required. Saroj offered excellent suggestions and went the extra mile with his advice, which won my respect and helped in achieving the outcome required.
Mai Yang

Mai Yang

Absolutely wonderful service! Saroj was amazing with keeping us up to date with our loan application which was approved quickly without any hassle. I would definitely recommend Broc Finance!

Have questions? Talk to a specialist!

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Frequently asked questions

Not always. Some loans, especially smaller amounts or for people with really good credit histories, don’t require security. But for bigger amounts or if the risk is higher, lenders usually ask for it.

1. Chattel Mortgages

A chattel mortgage is a common choice for securing equipment loans. Here, the equipment or machinery being bought serves as the security. Even though the borrower gets the equipment right away, the lender has a claim on it until the loan is fully paid. This setup helps borrowers use the equipment they need while still providing assurance to the lender.

2. Guarantees

With a guarantee, a third party steps in to back the loan. This could be a business owner or another company related to the borrower. They promise to take over the loan payments if the original borrower can’t pay. This extra promise gives lenders more confidence, knowing there’s another source of repayment.

3. Pledges

Pledges are like chattel mortgages, but the assets used as security can be anything valuable—not just the equipment being financed. This could be stocks, other machinery, or real estate. It’s a flexible way for borrowers to secure a loan, using various assets they own.

4. Liens

A lien gives the lender a legal claim to the borrower’s property until the debt is paid. In equipment financing, this could apply to the financed equipment or other assets the borrower owns. It’s a legal assurance that the lender can recoup their funds if necessary.

5. Security Agreements

Security agreements are contracts that spell out the security details. They list the collateral, when the lender can take it, and the rights of everyone involved. These agreements are vital for chattel mortgages and pledges, ensuring there’s a clear legal basis for the security.

All businesses require equipment in some form or another. It can be even the laptop you are working on. So, all businesses can benefit from equipment finance. 

Yes, with Broc Finance by your side you can get equipment finance with bad credit. We will make sure to find a compatible lender ready to offer you the best terms and rates. 

Yes, equipment finance can be used to upgrade the existing equipment of the company. Reach out to our experts for more details.