Equipment finance Melbourne
Commercial / Business finance
Equipment finance broker in Melbourne's west
Equipment finance is a business loan or lease that lets you buy machinery, vehicles, technology or tools and pay for them over time, with the equipment usually acting as security. It suits businesses that want to keep working capital available for day-to-day costs. As an equipment finance broker for businesses across Melbourne's west, we compare commercial equipment loans from our 70+ lender panel, and can also help with business car loans for utes, vans and trucks.
Whether you're purchasing new office furniture, heavy machinery, or vehicles for your business, we'll help you secure competitive rates and terms for your equipment finance. Our extensive lender panel includes specialists in all types of business equipment loans.
Book a consultationHow we help you find the right equipment loan
At Attain Loans, we work with a wide panel of lenders to help you find a competitive rate and loan structure that suits your business. Our service is typically at no cost as we're paid by the lender. We'll disclose this commission before you proceed.
1
Getting to know you
We're flexible to fit in with you. We can do face-to-face, phone, or video call meetings. We're flexible on times and can do after-hours and weekend meetings by request.
2
Understanding your needs
We'll discuss your business equipment requirements in detail, including the type of equipment, its intended use, and your long-term business strategy. This helps us determine the most suitable type of finance.
3
Financial assessment
We'll review your business's financial position, including existing assets, business performance, and cash flow projections. This helps us determine your borrowing capacity and structure a loan that's sustainable for your business.
4
Loan comparison
Based on your circumstances, we'll compare loans from our panel of lenders. We consider interest rates, fees, loan features, and flexibility for extra repayments. We'll help you choose the option that best matches your business needs.
5
Application and Settlement
Once you've chosen a loan, we handle all the paperwork and liaise with the lender on your behalf. We'll help you gather the necessary documentation and guide you through the approval process to settlement.
Commercial equipment loans for small business
Business equipment loans are designed to help you acquire the assets you need without impacting your working capital. We'll guide you through the process, ensuring you understand all aspects of your loan.
Business equipment loan features
- Loan amounts from $5,000 to $500,000+
- Terms up to 5 years
- Fixed or variable rate options
- Chattel mortgage, hire purchase, and finance lease options
- Potential tax benefits and GST claims. Speak with your accountant or tax adviser about your circumstances.
- Option for balloon payments to reduce monthly repayments (a balloon means a larger final payment and more interest overall)
Machinery, office and heavy equipment we can finance
- Office furniture and technology
- Vehicles and trucks
- Construction and mining equipment
- Agricultural machinery
- Medical and dental equipment
- Hospitality equipment
Questions about business equipment finance
Get in touch and we will help you with any questions you have about business equipment loans and advise on the best approach for your business.
Let us help with your questionsHow much can I borrow for a business equipment loan?
Loan amounts typically range from $5,000 to $500,000+, depending on your business's financial position, credit history, and the equipment's value. We'll assess your situation and help you determine a suitable borrowing amount that aligns with your business needs and repayment capacity.
What types of business equipment loans are available?
The main types are chattel mortgages (equipment loans), finance leases, hire purchase agreements, and novated leases. Each has different ownership structures and potential tax implications. We'll explain the differences and help you choose the option that best suits your business needs and financial strategy. Speak with your accountant or tax adviser about your circumstances.
Do I need a deposit for a business equipment loan?
While some lenders offer no-deposit options, having a deposit can improve your chances of approval and may give you access to more competitive interest rates, subject to lender assessment. We can discuss deposit options and help you find a loan structure that suits your cash flow situation.
How long does it take to get approved for a business equipment loan?
Approval times vary by lender. As a general guide, the approval process typically takes 1-3 business days, depending on the complexity of your application and the lender's requirements, and all approvals are subject to lender assessment. We'll provide a clear timeline based on your specific situation and manage the process to avoid delays.
Can I claim tax deductions on my business equipment loan?
Business equipment loans may offer potential tax advantages. Depending on the loan structure and your circumstances, you may be able to claim deductions on interest payments, depreciation, and GST on the purchase. Tax situations can be complex. Speak with your accountant or tax adviser about your circumstances.
What documentation do I need for a business equipment loan application?
Required documentation typically includes:
- Business financial statements (last 2 years)
- Tax returns (business and personal)
- Bank statements
- ABN/ACN details
- Proof of identity
- Equipment details and quotes
- We'll help you gather all necessary documents to streamline the application process.
Can I get a business equipment loan for used equipment?
Many lenders offer finance for both new and used equipment. The loan terms and interest rates may vary depending on the age and condition of the equipment. We can help you find lenders that specialise in used equipment finance.
What happens if I want to upgrade my equipment before the loan term ends?
Many equipment loans offer flexibility for upgrades. Options may include refinancing the existing loan, adding to the current loan, or trading in the equipment. Refinancing or paying out a loan early may involve fees, so we'll factor these in and help you structure a loan that allows for future upgrades.
Are there any government incentives for business equipment purchases?
The Australian government occasionally offers tax incentives for business equipment purchases, such as instant asset write-offs. Eligibility criteria and caps apply, and these incentives can change, so check the latest information on the ATO website. Attain Loans doesn't administer these schemes. Speak with your accountant or tax adviser about your circumstances.
How does equipment financing compare to using a business line of credit?
Equipment financing is typically secured by the equipment itself, which can result in lower interest rates compared to unsecured credit lines, although the equipment can be repossessed if repayments aren't met. It also keeps your other credit lines open for operational expenses. We can help you compare these options based on your specific business needs and financial situation.
Is equipment finance the same as hire purchase?
Not exactly. Equipment finance is the umbrella term for several structures, and hire purchase is one of them: the lender buys the equipment and hires it to your business, with ownership passing to you once the final payment is made. With a chattel mortgage your business owns the equipment from the outset and the lender takes security over it, while a finance lease lets you use equipment the lender owns. Each has different costs and potential tax outcomes. Speak with your accountant or tax adviser about your circumstances.
How hard is it to get equipment finance?
It depends on your business's trading history, financial position, credit history and the equipment itself. Established businesses buying new or easily resold equipment often find it more straightforward, because the asset secures the loan. Newer businesses, those with credit issues, or buyers of specialised or older equipment may face stricter criteria, a deposit requirement or higher rates. All applications are subject to lender assessment, and we can help you understand which lenders on our panel may suit your situation.
Can you help with equipment finance anywhere in Melbourne?
Yes. We work with businesses across Melbourne's west and the wider Melbourne area, and meetings can be face-to-face, by phone or by video call, including after hours and weekends by request. Because equipment finance is arranged with lenders rather than local branches, where your business is based in Melbourne doesn't generally limit your options. Our service is generally at no cost to you because we're paid a commission by the lender, and approval is always subject to lender assessment.
Your full financial situation and requirements need to be considered prior to any offer and acceptance of a loan product. The information contained in this website is of a general nature and does not take in to account your personal needs and requirements.
Equipment finance guides
Why choose Attain Loans for your business equipment loan?
We understand the equipment finance market and lender requirements. We compare competitive rates across our lender panel and help structure loans to suit your business goals. Contact us today to discuss your equipment finance.
We're family
We are a small family owned, Altona based business that understands your needs at different stages of your life.
We listen
Identifying your goals and finding services and products that meet your needs is our number one job, and we love it!
22 years industry experience
We know the intricacies of the mortgage market and can tailor mortgage solutions for your individual needs.
We have access to the very best lenders
Over 70 of them, including the majors. We're accredited, which means we are fully trained and know all the best options available for you.
Ongoing support
Even when we've found you a great deal we undertake regular reviews to see if we can find you something even better.
We're awesome!
We have an honest, client focused business model and we aim to create long lasting relationships built on trust and respect.
Our happy customers
Financial security gives you choices. It lets you move home, learn new things, travel, or start and grow a business. When you're financially secure, you can focus on what's important. Your family, health, and personal growth.
Owen
Chrystal has been absolutely amazing from start to finish. As a first time home buyer I had little understanding of the whole process and was quite overwhelmed. Chrystal took the time to thoroughly explain all aspects to me and was always available whenever I had any questions and made the whole process much less stressful. I highly recommend her to anyone looking for a mortgage broker.
Danny Simpson
Chrystal was incredible throughout the entire process. She helped me review numerous listings, connected me with a great conveyancer and building inspector, supported me on auction day, and found the best home loan to suit my needs while guiding me through the details. Overall, I highly recommend Attain Loans for going above and beyond!
Macca Playz
Chrystal's outstanding performance throughout the process was truly impressive. Her assistance in reviewing various listings, arranging introductions to a trusted conveyancer and building inspector, providing support, and sourcing a home loan that met my specific needs while offering detailed explanations of the terms, was truly exceptional. I strongly recommend Attain Loans for their outstanding commitment to customer satisfaction and service excellence.
Emma Kirkham
I went to Attain Loans to reduce my mortgage repayments and secure financing for a truck-mounted EWP. Chrystal went above and beyond to ensure I got the best deal possible. She took the stress out of the process and made everything happen smoothly. Thanks to Chrystal, I was able to combine my home and truck loans and even purchase a brand-new car—all while paying much less than I ever imagined. I highly recommend Attain Loans. It’s Chrystal’s personal touch and dedication that make her exceptional at what she does!
Ian Martin
We were introduced to Chrystal and Attain Loans by a mutual colleague and we are very pleased that we were. Chrystal is an absolute finance whizz and a diamond of a lady. She is thorough, professional, patient, 'on your side', and will work her hardest to get the job done for you. We are pleased to have met Chrystal and have her setup our home loan and finances for us, and we will continue to work with Chrystal for any of our finance needs in the future.
Nichie S
Chrystal Evans, Director & Mortgage Broker at Attain was truly a lifesaver. In a stressful time where I needed assistance and some advice, Chrystal was this and more for me. Her knowledge of the banks, packages, fees etc. and advice was excellent, giving me confidence while also making everything really easy. Lastly her follow-up and communications were solid, I would highly recommend Chrystal. Also, after trying to negotiate an interest rate after coming off a fixed rate with my bank, where I was told they couldn't help me and spoke with 3 different people with wait times on the phone, I will not deal with a big bank again and only with Chrystal/Attain.
Cindy Kelly
Chrystal and Attain Loans were instrumental in assisting us to secure our dream home. Chrystal’s professionalism, knowledge and high level skills secured us the best loan for our needs. Chrystal is very thorough and assisted us through the whole process, from finding the best loan to ensuring everything was in line and ready for settlement day. We will definitely utilise Chrystal’s expertise for our next property purchase and highly recommend Chrystal and Attain Loans.
will miller
Chrystal and her team are amazing to deal with extremely helpful and couldn't ask for better service. Chrystal and her team have helped us secure our first home and we have now settled. Chrystal is still working with us through every stage of the project. It's great to know that I had Chrystal on hand anytime I needed direction and advice. Thanks heaps guys from will and Zoe miller
Nikola M.
Chrystal is by far the best broker I’ve met. Not only she found a great rate and conditions, she advised me on how to restructure the loans to get a better return down the road. Definitely recommend her, won’t even think of going elsewhere.
Renee Blake
Chrystal and her team @ Attain Loans are amazing. Chrystal makes the whole process so easy and understandable. She always has her clients needs at the forefront of her mind and does everything possible to help. Not only is she an AMAZING broker with integrity, she is reliable with a client first focus. If I could score her 100 I would. The only broker for me.
Callan Applebee
The best! Highly recommend for those lookong for people that care and honesty in financial requests for mortgae and loan services. From someone who has just begun owning land and building a home, all I can say is that Chrystal and her amazing team have held customers like myself and my wife at the forefront. We are still in the process and this company and its ideals and staff are and continue to be amazing. The trust, confidence and support model they uphold is something that all other institutions should refer to. Thank you Chrystal and your team members for everything thus far. I look forward to our continued relationship and your growth. Thank you.
Vanessa Terekia
I have had the pleasure of working with Chrystal who helped to get my home loan approval. This women went out of her way to help me above and beyond my expectations, I was so ready to give up on a few occasions but she wasn't going to let me and I could not thank her enough for all of her efforts. I am now in my own home thanks to Chrystal and her team, I would always recommend her service, its like no other :).
Skruffy Inc
If it's a no fuss, simple process you're after - then Chrystal is your go to! As a first home buyer I was totally out of my league, everything was foreign. Chrystal quickly established a rapport and from the beginning I felt secure in her expertise and genuine interest to help me realise my goals. Whenever there were things that I wasn't quite sure about, Chrystal jumped in and took the reins without hesitation. When investing in one of the biggest purchases in your lifetime, having someone you trust at the helm is everything! Chrystal is that someone. Her easy going nature coupled with the depth of knowledge, experience and professionalism is second to none! I can't recommend her highly enough. Appreciate your support solution oriented outlook Chrystal. Thank you so much! Whakamānawatia koe, ka tika! Nāku noa Trish Brisbane, QLD
Suzanne McHugh
Chrystal was fantastic, she took the time to help us urgently obtain finance after not getting any help directly from the banks. She was very informative, was able to explain all the details. We would not have been able to have a successful bid without her help.
Luke Applebee
Thanks to the incredibly hard-working team at Attain (Chrystal and Pam) we were able to settle literally days before Christmas last year in our first home. At every step of the home buying journey we were well informed and felt like our interests were always the top priority. It was a stressful time for us to keep up with the paperwork and everything however Attain did a superb job at keeping us on track (and sane). If you have no idea where to begin if you're looking at purchasing a home, I highly recommend giving Attain a call. Excellent customer service and ongoing support. We have recommended Attain to family and friends, too. Absolutely impressive team. Can't thank them enough.
Jessica Joy
I cannot recommend Attain Loan & Mortgage Services enough. As a first home buyer I was nervous with very limited knowledge of how the entire loan process worked. Chrystal made it absolutely seamless and took all of the stress out for me. 12 months on, they assisted me with my first re-finance and again were there for me every step of the way. I couldn't be happier and wouldn't trust anyone else! Thankyou so much! Positive Responsiveness, Quality, Professionalism, Value
Jessica Winter
Chrystal, Pam and the team at Attain loan & morgage services are the best brokers in business. They literally held our hands throughout the whole process of our home loan. And we were not easy customers! They went above and beyond to help us get the best outcome in the process of attaining our first family home. Their attitude, customer service and professionalism was second to none. Couldn't recommend this company more! They literally did all the HARD work for us and made the process stress free :) Thanks Team!! Jessica Winter
Americar Auto
I've been using Attain Loans for years. Each time Chrystal has helped us get the loan through, being a small business can be tricky sometimes but Chrystal never gives up and always gets a result. I would give her a higher score if I could :)
Gary Capeling
My wife and I were in a vendor finance agreement and due to some financial hardship issues brought about by the Covid pandemic not looking like we would ever be able to get ahead. The team at Attain Loans helped steer us in the right direction to be able to finally have a mortgage of our own and also clear up our debts and hopefully repair our credit issues. I would definitely recommend them to anyone looking to just refinance or that is in a similar boat to us! 10 out of 10 for these guys!
Rebecca Smith
Excellent communication throughout entire process. Second time we have obtained finance through Chrystal and would use her again.
Peter Sz
Chrystal and the team from Attain Loan & Mortgage Services, 14 Harrington Square, Altona, VIC, 3018, Were a pleasure to deal with, they provided us with great service and prompt settlement, our circumstances were delicate and they worked though the steps to help us achieve the results desired, We would highly recommend Attain Loan & Mortgage Services for all your home loan needs, Thanks for all your help Peter
Lisa L
I recently bought a new house and usually the process can be quite stressful. Luke made everything run smooth from start to finish and got me a good rate! Highly recommend
Ray Jensen
Got the job done that no one else could!!!!! Very happy customer, thanks for all your all help……