Tradies are the backbone of Australian business — and getting the right tools, vehicles and equipment is often the difference between winning work and watching it go to a competitor. This guide covers everything a sole trader or small team needs to know about financing their business assets.
What Can Tradies Finance?
Commercial finance is available for virtually any asset used in a trade or contracting business:
- Utes, vans and 4WDs for getting to jobs
- Trailers — box trailers, enclosed trailers, flat decks, tippers
- Light trucks and cab chassis for heavy tool loads
- Tools and equipment — compressors, generators, power tools, laser levels
- Scaffolding, access equipment and elevated work platforms
- Concrete equipment — mixers, pumps, trowels
- Plumbing and electrical equipment
- Specialised equipment — pipe inspection cameras, boring machines
Low Doc Finance for Tradies
Most tradies qualify for low doc finance — which means you can borrow for equipment, vehicles and tools without submitting tax returns or full financial statements. You typically need just your ABN, driver's licence and recent bank statements.
For sole traders transitioning from wages to self-employment, some lenders will consider PAYG history alongside ABN registration. If you've just started working for yourself, this can significantly improve your borrowing options even with a new ABN.
Finance Structures for Tradies
The right finance structure depends on what you're buying and your tax position:
- Chattel mortgage: own the asset from day one; claim GST input tax credit upfront; best for most purchases
- Finance lease: fully deduct repayments; off-balance-sheet; useful for vehicles with mixed use
- Commercial hire purchase: similar to chattel mortgage with a balloon option at end of term
- Personal loan: available for smaller tools and equipment if you're not yet GST-registered
What ABN Do I Need?
Some lenders accept a 1-day ABN for smaller finance amounts (particularly under $50,000). For zero deposit options, most lenders prefer 2+ years GST registration. If you're newly self-employed, a deposit of 10–20% can open up significantly more options. Don't let a new ABN stop you from exploring finance — the right lender exists for your situation.
How Fast Can I Get Approved?
For straightforward tradie finance applications — clean credit, established ABN, clear asset details — approvals can come back in as little as 4–24 hours. Settlement and payment to the seller typically follows within 24–48 hours of approval.
Overdrive Funding works with tradies across all industries and all stages of business. Our service is 100% free — we're paid by the lender, not you. Get in touch for a free comparison across 80+ lenders.