Businesses across Tasmania looking to finance commercial equipment have two main choices: go directly to a bank and accept whatever rate they offer, or use a specialist equipment finance broker who compares the entire market on your behalf. For TAS businesses, using a broker almost always results in a lower rate, faster approval and less paperwork — and the service is 100% free.
Equipment Finance in Tasmania — What Businesses Need to Know
Tasmania is a growing island economy with strong activity in agriculture, forestry, construction and tourism. Demand for equipment finance across Tasmania is strong, particularly in the agriculture, forestry, construction, transport and tourism industries. TAS businesses that use a specialist equipment finance broker gain access to 80 or more lenders — including major banks, non-bank commercial lenders and specialist commercial equipment funders — compared to the single rate offered by most bank branches.
What Commercial Equipment Can Be Financed in Tasmania?
Through Overdrive Funding, TAS businesses can arrange finance for manufacturing equipment, CNC machines, medical equipment, hospitality equipment, IT assets, workshop hoists, printing equipment, woodworking machinery and all commercial equipment. New and used assets are both eligible, including dealer purchases, private sales and auction buys anywhere in Tasmania. Low-doc finance is available up to $500,000 with minimal paperwork.
Equipment Finance Rates in Tasmania
Equipment Finance rates for TAS businesses currently range from approximately 6.1% to 15% per annum, depending on your credit profile, ABN history, asset age and the lender. Established Tasmania businesses purchasing new assets with strong financials typically access rates from 6.1% upward. A broker who understands the Tasmania market and has access to specialist commercial equipment lenders can often achieve significantly better terms than a borrower would receive going direct.
How It Works — One Application, 80+ Lenders
Overdrive Funding Director Simon Kendrick works directly with TAS businesses from initial enquiry through to settlement. You submit one application, we assess your situation, select the most suitable lenders from our panel of 80+, negotiate the best rate and manage all paperwork through to settlement. Most applications are assessed within 24 to 48 hours. There are no fees, no hidden costs and no obligation.
Whether your business is based in Hobart or anywhere else across Tasmania, Overdrive Funding provides the same personalised, direct service. Contact us today for a free, no-obligation equipment finance quote.