How Much Can You Borrow for a Skid Steer & Attachments?

Key highlights

• Borrowing capacity depends on serviceability, credit and the assets
• Attachments can be bundled into your borrowing total
• A deposit or trade-in can lift the amount you qualify for
• Established ABNs may access larger low-doc finance facilities
• Comparing 80+ lenders reveals your real borrowing ceiling

What sets your borrowing limit?

Your borrowing capacity for a skid steer and attachments rests on a few core factors. Lenders look at how long you have traded under your ABN, your credit history, and your ability to service repayments from business income. The assets matter too: mainstream skid steers and attachments with strong resale value support a larger advance because the security is sound. Existing equipment finance already on your books reduces headroom. For established, GST-registered businesses, low-doc facilities can reach meaningful amounts without full financials, while larger requests usually need supporting documents. There is no single fixed cap, and because each lender assesses capacity differently, one may stretch further than another for the same profile. Comparing the panel is the practical way for eligible applicants to find their genuine ceiling rather than guessing.

Can attachments count toward the total?

Yes. One advantage of this asset class is that the skid steer and its attachments can usually be funded together, so the attachments form part of the total you borrow rather than a separate out-of-pocket cost. Buckets, augers, grapples, four-in-one buckets, mulchers and breakers all add earning capacity to the machine, which lenders generally view positively when assessing the package. Bundling them means one facility, one repayment and your complete working setup funded from day one. The combined value feeds into the loan-to-value assessment, so a sensible mix of machine and tools keeps the overall picture healthy. If you are planning a full setup, factoring the attachments into your borrowing from the outset gives a truer view of what you need, and Simon can structure the total so it holds together cleanly.

Is there a typical borrowing range?

Skid steers and their attachments sit at the more accessible end of equipment finance, and funding is widely available. As a general guide, low-doc facilities can extend up to around $500,000 for well-established businesses, more than enough for a machine and a full complement of attachments, while larger fleet or multi-machine requests backed by financials can reach much higher, with funding available from roughly $20k to $10M+ across the market. These figures are indicative and subject to lender criteria and your profile. A single skid steer with a few attachments will typically sit comfortably within standard limits. What you can actually borrow depends far more on your business strength than any headline number, so the reliable way to find your ceiling is to have a broker test your profile across the panel.

How does a deposit affect borrowing power?

A deposit reduces the amount you need to borrow and signals commitment to the lender, both of which can lift your effective borrowing power. Many skid steer deals can be structured with little or no deposit for strong applicants, but offering a deposit or trading in an older machine may unlock a larger facility or a sharper rate. It also lowers repayments and total interest, easing serviceability. If your profile is marginal — a newer ABN, a past credit issue or lighter financials — a deposit can turn a hesitant lender into an approval. Trading in existing plant you are replacing contributes equity without touching working capital. Because a deposit interacts with every other factor, modelling different deposit levels is worthwhile, and Simon can show how each changes the amount and terms available to you.

How do lenders assess serviceability?

Serviceability is the lender's judgement that your business can comfortably meet the repayments. For low-doc applications, established ABNs with clean credit often let lenders take a lighter view without full financials. For larger requests, they examine BAS lodgements, bank statements and financial statements to confirm income covers the new commitment alongside existing obligations. Consistent turnover, a steady pipeline of work suited to a skid steer, and manageable existing debt all help. Lenders may build in a buffer for rate movements. Presenting your business well — tidy books, evidence of contracts and a clear account of how the machine earns — improves how serviceability is viewed. A broker packages this properly so eligible applicants are assessed on their real strength, which can meaningfully affect the amount a lender is willing to advance.

Can you borrow for more than one machine?

Often, yes. If your business is scaling, some lenders will fund multiple skid steers, or a skid steer alongside other plant, within one facility or across coordinated agreements. This suits contractors and hire companies building a fleet, letting you expand capacity without arranging finance repeatedly. Serviceability and the combined asset value drive how far a lender will go, and a stronger business profile supports a larger overall exposure. Bundling associated costs like delivery or initial attachments may also be possible. Whether a lender will fund at fleet scale depends on their appetite and your numbers, so it is worth discussing your growth plans upfront rather than financing one machine at a time. A broker can structure a facility that leaves room to add machines as your work grows.

How does comparing 80+ lenders raise your ceiling?

Every lender has its own credit appetite, serviceability model and view of skid steers and attachments, so the amount you can borrow genuinely varies from one funder to the next. Approach a single bank and you get one answer, possibly conservative. A broker comparing 80+ banks and non-bank lenders finds the funder whose policy best fits your profile and setup, which often means a larger facility or better terms than your own bank would offer. Simon Kendrick matches your application to the lenders most likely to approve and to stretch, then negotiates on your behalf, all through a single application that keeps your credit file clean. For eligible operators, that broader view is frequently the difference between settling for less and funding the complete setup your business actually needs.

Want to know what your business could borrow for a skid steer and a full set of attachments? Simon Kendrick can run your profile across 80+ banks and non-bank lenders and give you an obligation-free borrowing estimate, using only a soft credit check so nothing marks your file. He will factor in the machine, the tools, your deposit and any trade-in, and show how each shapes the amount available, so you plan your setup with a real budget. For eligible applicants, indicative approvals can arrive in 24 to 48 hours. Contact Overdrive Machinery Finance today and get a clear picture of your borrowing power before you commit to a setup.