Whether you are purchasing manufacturing equipment, CNC machines, medical or dental equipment, hospitality equipment, workshop hoists, printing equipment, or any other type of commercial equipment, arranging finance through a specialist equipment finance broker in Australia is the fastest way to access competitive rates without the paperwork burden of a traditional bank application.
How an Equipment Finance Broker Works
An equipment finance broker acts as your advocate in the lending market. Rather than applying directly to a bank and accepting a single rate, a broker submits your application across a panel of lenders — often 80 or more — and negotiates competitive terms on your behalf. The broker manages the entire process: assessing your situation, preparing your application, selecting the right lender, and handling all paperwork through to settlement. The service costs nothing to the borrower.
The Advantage of Using a Broker for Equipment Finance
Not all lenders are equally comfortable with all asset types. Some lenders specialise in manufacturing equipment, others in medical or dental assets, and others in hospitality or IT equipment. A specialist equipment finance broker knows which lender to approach for each asset type, which means your application lands with the lender most likely to approve it at the best rate — rather than being assessed generically by a bank branch officer who may not understand the residual value of the asset you are purchasing.
Equipment finance rates in Australia currently sit between approximately 6.1% and 15% per annum. Established businesses purchasing new equipment with full financials tend to achieve the sharpest rates. However, even businesses with short ABN history or previous credit issues can access competitive terms through a broker with the right lender connections.
What Equipment Can Be Financed?
A specialist equipment finance broker can arrange loans for virtually any type of commercial equipment. Common categories include manufacturing and CNC equipment, medical and dental equipment, hospitality and commercial kitchen equipment, IT and technology assets, printing and signage equipment, workshop equipment and vehicle hoists, spray booths and panel beating equipment, woodworking and joinery equipment, packaging and conveyor equipment, and agricultural equipment. New, used, and refurbished assets are all eligible.
Low Doc Equipment Finance
Low doc equipment finance is available from most lenders up to $500,000 and is designed for business owners who prefer not to submit full financial statements. The application is typically based on your ABN history, asset details, and credit profile. For established businesses purchasing equipment under $150,000, some lenders offer same-day approval with minimal documentation.
Overdrive Funding works with businesses across all industries to arrange equipment finance at competitive rates. Director Simon Kendrick compares 80+ lenders to find the best deal for your profile. Contact us today for a free, no-obligation quote.