Key highlights
- Funds CNC, presses, conveyors, compressors and production lines
- Broker matches specialised plant to lenders that fund it
- One application compared across 80+ banks and non-bank lenders
- Same-day pre-approval and fast settlement possible for eligible applicants
An industrial equipment finance broker funds your plant and machinery by comparing lenders on your behalf, rather than leaving you with a single bank's offer. At Overdrive, one dedicated broker runs your deal past 80+ banks and non-bank lenders on a single application, then places it with the lender most likely to approve your equipment at a sharp rate. From CNC machines and presses to conveyors and packaging lines, matching the right lender to specialised gear is where a broker earns its keep and often improves on the first quote.
Why industrial plant needs the right lender
Industrial equipment is diverse and often specialised, and not every lender understands the resale value of a CNC machine, a press brake or a bespoke production line. A general bank may price such gear cautiously or decline it, while a lender familiar with manufacturing plant can move confidently and competitively. A broker knows which lenders on a wide panel actively fund your type of equipment and steers your application there. You get one point of contact who presents the machine clearly, answers questions about its use and value, and manages settlement, so a significant capital purchase is handled without delay.
Documents you will usually need
Established manufacturers buying standard plant can sometimes use low-doc options with an ABN, GST registration and a clean asset history, but specialised or higher-value equipment, older machines or newer ABNs often need bank statements, recent BAS or tax returns to confirm servicing. Have the equipment's make, model, year and specifications, the supplier invoice and your director ID ready, plus any installation or commissioning details. Your broker confirms exactly what your matched lender requires, so you assemble the right documents once rather than chasing paperwork a particular lender never asks for.
How quickly finance can settle
Standard, well-understood equipment for an established business can move quickly, with same-day pre-approval and 24-48 hour settlement possible for eligible applicants. Highly specialised or bespoke plant can attract closer assessment, which takes longer. Timing depends on the equipment, the amount, your credit profile and how complete your documents are. A broker keeps momentum by packaging the application the way each lender expects, answering technical and credit queries directly, and flagging anything that might slow assessment. If installation or a production deadline is fixed, tell your broker early. Sharing lead times and installation dates early lets your broker line up settlement to suit your schedule.
Indicative rates, terms and structure
Rates start from around 6.55% p.a. for strong, asset-backed deals; lower-doc applications, older or cheaper machines and weaker credit are priced higher, and all figures are indicative and subject to lender assessment. Terms typically run one to seven years, with balloon or residual options to ease monthly repayments where large plant would strain cash flow. A chattel mortgage suits many purchases because you own the equipment from day one and may claim GST and depreciation, though you should check with your accountant. Your broker will model structures so repayments match the output the plant generates.
Comparing the panel beats the first offer
Suppliers sometimes arrange finance at the point of sale, but that reflects one lender's pricing, so it is rarely the sharpest available, and some lenders are wary of specialised plant. When a broker runs your deal across a broad panel, lenders that understand industrial equipment compete for it, which can improve the rate, reduce fees or unlock a better structure. It also protects your credit file, because your broker pre-checks fit rather than lodging several formal applications that each leave a mark on your record. On significant plant, even a modest saving on rate or fees adds up meaningfully across the term.
Tell Overdrive what equipment you are buying, its specifications and a rough budget, and your dedicated broker will compare 80+ lenders and return clear, indicative options built around your production needs. There is no cost and no obligation to look. Ask for a free quote today and keep your line running.
Frequently Asked Questions
What counts as industrial equipment for finance?
Industrial equipment covers manufacturing and production plant such as CNC machines, lathes, presses, conveyors, compressors, packaging lines and processing gear. A broker can arrange funding for most of it, matching each machine to lenders comfortable with its use and resale value, so your application goes where approval is realistic and the pricing is competitive.
Can a broker finance specialised or custom machinery?
Yes, though bespoke plant can be harder to value, so it often attracts closer assessment. A broker knows which lenders are comfortable with specialised equipment and can present the machine and its use clearly. That improves your chances of approval at a fair rate compared with a general bank unfamiliar with the asset.
Can I include installation costs in the finance?
Sometimes. Certain lenders will include delivery, installation or commissioning within the facility, particularly when they form part of the supplier's invoice. Others fund the equipment only. Your broker will confirm which lenders accommodate installation costs and how that affects the amount, term and repayment on your deal.
Is used industrial equipment harder to finance?
Not necessarily. Many lenders fund used plant, though older machines may be priced higher or need a valuation. The main factor is resale value and how well the lender understands the asset. A broker matches your used equipment to lenders comfortable with it, so approval stays realistic and competitively priced.
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