Machinery Finance for Self Employed

Yes. Self-employed applicants can apply for commercial machinery finance to purchase new or used machines for business use. Finance may be available to sole traders, owner drivers, contractors, subcontractors, companies and trusts. Approval depends on factors including your ABN and trading history, credit profile, financial position, loan amount and the machine you're purchasing.

Self-employed machinery finance rates depend on your credit profile, ABN and business history, financial position, the age and value of the machine, loan amount and preferred finance structure. Eligible applicants with stronger credit profiles and newer machines may qualify for more competitive rates. We compare options across 80+ lenders and negotiate for competitive rates and repayments based on your circumstances. Rates are indicative only and subject to lender criteria, credit assessment, fees, terms and approval.

Potentially. Eligible self-employed applicants may be able to obtain machinery finance using an ABN with limited supporting documentation. An ABN alone doesn't guarantee approval. Your trading history, GST registration, credit profile, financial position, industry experience and the machine you're purchasing can all influence the application.

There isn't one minimum trading period that applies to every application. Some finance options favour established businesses, while others may consider newer ABN holders and recently self-employed applicants. If you've recently become self-employed, previous experience in the same industry can help support your application.

Potentially. Being newly self-employed doesn't automatically prevent you from obtaining machinery finance. Your previous employment and industry experience, credit profile, available deposit, expected business income, contracts or upcoming work and the machine you're purchasing may all be considered.

Yes. No deposit machinery finance may be available to eligible self-employed applicants. Whether a deposit or contribution is required depends on your business history, credit profile, financial position, loan amount, machine and overall application.

Yes. Eligible self-employed applicants may qualify for low doc, lite doc or no doc machinery finance, including finance up to $500,000 in suitable circumstances. These options can reduce the amount of financial documentation required compared with a traditional commercial finance application.

Potentially. Selected finance options may allow eligible self-employed applicants to obtain machinery finance without providing complete financial statements. Alternative information may be required to demonstrate your business circumstances and ability to repay.

Potentially. Eligible applicants may have access to finance options that don't require complete tax returns, depending on their circumstances. Low doc doesn't mean no assessment. You may still need to provide other information about your business, financial position and proposed machine purchase.

Requirements vary depending on your circumstances. You may be asked for your ABN and business details, identification, machine details, purchase price and information about your existing financial commitments. Depending on the application, supporting documents can include bank statements, BAS, an assets and liabilities statement, contracts or other evidence of business income.

Yes. Sole traders can apply for commercial machinery finance, subject to eligibility and credit assessment. Finance can be structured around the way your business operates, whether you're purchasing your first machine, replacing an existing vehicle or adding another machine.

Yes. Owner drivers are commonly self-employed and may be eligible for commercial machinery finance. Whether you're moving from employed driving into your own operation or already running an established owner-driver business, your experience, business history, credit profile and proposed machine purchase can be considered.

Not necessarily. A signed work contract isn't required for every machinery finance application. However, evidence of current or upcoming work may help support some applications, particularly if you've recently become self-employed or are purchasing your first machine.

Potentially. Variable income is common among self-employed applicants, contractors and owner drivers and doesn't automatically prevent you from obtaining finance. Your overall trading history, business cash flow and financial position may be considered rather than relying solely on one period of income.

Yes. Eligible self-employed applicants can finance new machines for business use. Depending on your circumstances, finance may be available for up to the purchase price of the machine, subject to eligibility and credit assessment.

Yes. Finance can also be arranged for used machines. The machine's age, condition, purchase price, market value and expected age at the end of the finance term can influence the available loan term and finance structure.

Yes. Eligible self-employed applicants may be able to finance machines purchased from private sellers as well as dealerships. Private purchases can require additional checks on the machine, ownership and seller before settlement.

Potentially. Finance may be available for eligible auction-purchased machines. Because auctions can have short payment deadlines, obtaining pre-approval before bidding can help you understand your available finance and purchasing budget.

Potentially. Previous credit issues don't automatically prevent a self-employed applicant from obtaining machinery finance. The available rate, deposit, loan amount and finance terms can depend on the nature and age of the credit issues, your current financial position and the overall strength of the application.

Not necessarily. With many commercial vehicle finance structures, the machine itself can provide security for the finance, meaning additional residential property or other asset security may not be required. Other guarantees or conditions may apply depending on your circumstances.

There isn't one borrowing limit for every self-employed applicant. The amount available depends on your business cash flow, credit profile, financial position, existing commitments, machine and purchase price. Eligible applicants may access low doc or no doc machinery finance up to $500,000, while other commercial finance options may accommodate different loan amounts.

Machinery finance terms of up to 7 years may be available to eligible self-employed applicants. The available term depends on factors including the machine's age and value, loan amount and finance structure. Longer terms can reduce regular repayments but may increase the total interest payable.

Yes. Balloon payments may be available on eligible machinery finance. A balloon leaves an agreed amount outstanding at the end of the finance term, which can reduce regular repayments during the loan. The available balloon depends on the machine, loan term and overall application.

Depending on your business and circumstances, machinery finance can include a chattel mortgage, commercial hire purchase, finance lease or rent-to-own arrangement. The appropriate structure depends on your business, cash flow, ownership requirements and machine purchase. Tax treatment can vary, so you should obtain professional tax advice for your circumstances.

Yes. Eligible self-employed businesses can finance multiple machines, trailers and other commercial vehicles, subject to approval. This can include adding a second machine, replacing existing vehicles or gradually building a larger fleet.

Potentially. Existing commercial machinery finance may be refinanced where suitable options are available. Whether refinancing is worthwhile depends on your existing payout figure, remaining term, fees, current repayments and the replacement finance available.

Eligible applications may receive same-day pre-approval, with decisions or approvals potentially available within 24 to 48 hours once the required information has been provided. Timing depends on the application and whether additional documentation, valuations or checks are required.

Not necessarily. Where available, we may be able to initially compare or assess your options without submitting a formal credit application. A formal application may involve a credit enquiry. We can explain the process before your application proceeds.

Self-employed applicants can have very different financial circumstances from PAYG employees, particularly when income varies or complete financial statements aren't available. We compare options across 80+ lenders to identify suitable finance based on your ABN history, business circumstances, financial position and machine purchase. You'll work directly with Simon, our Director, on every deal from your first machine through to your next machine and future fleet growth — no call centres or unnecessary handovers.