Equipment Loans for Small Business in Australia: How to Get Approved in 2025 Without Slowing Down Your Growth
Last updated: 3 May 2025
By Michael Pajar | Business Finance Broker | Casey Asset Finance | Estimated Read Time: 5 minutes
Buying gear, tools or machinery for your business? Here’s how equipment loans work, what lenders look for — and why more owners are using brokers to get approved faster.
What Is an Equipment Loan?
An equipment loan is a type of business finance used to purchase or lease physical assets—like vehicles, machinery, or tools—that help your business generate income.
You can finance things like:
Commercial kitchen equipment
Trucks, vans, or work vehicles
Earthmoving or construction machinery
Dental and medical tools
Office fit-outs or laptops
How Does Equipment Finance Work in Australia?
Here’s how it typically works:
You choose your equipment and get a formal quote or invoice from your supplier.
You apply through a lender or broker (like Casey Asset Finance).
The lender assesses your application, including bank statements and credit profile.
If approved, the funds are paid directly to the supplier.
You repay the loan in monthly instalments over 1 to 7 years.
The equipment itself usually acts as security—no property needed.
Why Equipment Loans Are a Smart Move
You don’t need to pay upfront—protect your cash flow.
Some lenders offer low-doc loans—no tax returns required.
Fast approvals—most are done in 24 to 48 hours.
There may be tax benefits such as instant asset write-offs.
It’s easier to qualify for compared to unsecured business loans.
No property required—great for startups and growing businesses.
Who Can Qualify in 2025?
You’re likely eligible for an equipment loan if:
You have an active ABN
You earn at least $10,000 per month
You’ve been trading for at least 6 months (but even new businesses can apply)
You can provide a supplier quote
Your bank statements show stable cash flow
Even if you have bad credit or are just starting out, there are lender options available—especially when the asset holds good resale value.
How Much Can You Borrow?
New businesses (under 12 months): Typically up to $50,000 with low-doc, or more with full-doc
Trading 1–2 years: Typically between $100,000 and $200,000
Established 2+ years: Up to $500,000+ depending on asset type and income
Some lenders strictly allow you to borrow up to your monthly turnover
More flexible lenders allow you to borrow far more
How to Apply (Step-by-Step)
Step 1: Choose the Equipment
Get a quote or invoice from your supplier. Make sure it includes the equipment details and total cost.
Step 2: Submit Your Application
Apply via a broker like Casey Asset Finance. We match your business to the right lender—saving you time and hassle.
Step 3: Provide Documents
At minimum, you’ll need:
An active ABN
Driver’s licence
Six months of business bank statements
Optional: BAS or tax returns if you want full-doc options or larger amounts
Step 4: Get Approved
Most approvals are completed within 1 to 2 business days. Some are approved same-day if low-doc, and a clear credit file.
Step 5: Equipment Delivered
Once approved, the lender pays the supplier and you receive the equipment.
FAQs
How do I get equipment loans for a small business in Australia?
Choose your equipment, get a quote, apply via a broker or lender, and get approved in 24–48 hours—often without needing full financials (like you would at the banks).
Do I need financials for an equipment loan?
Not always. Some lenders approve based on bank statements alone—especially for low-doc loans. Some lenders don’t even need bank statements.
Can I get equipment finance with bad credit?
Yes. If your asset has strong value and your bank statements are solid, some lenders will still approve your application.
What interest rate should I expect?
Rates typically start from as low as 6.49%, depending on your credit score, business history, and the type of equipment.
Should I lease or buy the equipment?
It depends. Leasing offers flexibility, while buying gives you ownership and potential tax write-offs. A broker can help you choose what suits your goals best.
What Lenders Look For
To maximise your chances of approval, lenders will want to see:
Consistent monthly revenue
Strong bank account activity (no overdraws or bounced debits)
Stability in your business
Clear purpose and type of asset being purchased
A quote or invoice that reflects the actual asset’s market value
Common Mistakes to Avoid
Applying directly to lenders that aren’t suited to your business
Forgetting to provide a supplier quote or invoice
Overstating your income—lenders check your bank data
Thinking you need to own a home to get approved (you don’t!)
Not working with a broker—this often leads to missed opportunities
Pro Tips to Secure a Better Deal
Work with a broker who understands your industry
Clean up your bank statements—avoid overdraws or late payments
Get a formal quote from your supplier before applying
Choose equipment that holds value—this increases your chance of approval
Ask about balloon or residual options to reduce monthly payments
Why Work with Casey Asset Finance?
We specialise in business equipment finance and low-doc loans for Aussie small businesses. Here’s what makes us different:
Access to over 40 trusted lenders
Approvals in 24–48 hours—no long waits
We help both startups and established businesses
Low-doc and no-property options available
Real support from a real person—no bots, no hidden fees
Let’s Get You Funded
If you’re ready to upgrade your equipment and grow your business, we’re ready to help.
Check if you qualify in just 60 seconds.
No obligations. Just clarity.
[Apply Now] or DM “Equipment” on Instagram and we’ll take care of the rest.
