Trusted for 10+ years by established contractors Australia-wide.
This will not affect your credit score.
We’re one of Australia’s only finance brokers who are solely focused on partnering with businesses that operate Heavy Machinery & Equipment. We’re not trying to do it all. In fact, the list of services we don’t offer is longer than the list of services we do. And it’s this focus that extends to your application, and getting it over the line.
10+ years of our machinery finance experience at your disposal
No Banker jargon.
We break it down simply.
With 50+ lenders to choose from,
we'll get you the lowest rates.
We know our lenders and who's most likely to back your business.
We care about your credit score, and only submit to one lender at a time.
Lets grow together. We can help with your bigger picture plans.
Get expert advice right from the start
Some of our clients have been with us for 10+ years, with many individually placing 50-100+ machinery loans through our Broking Firm.
Whether it’s your first or hundredth machinery loan, our honest, ethical ‘play the long game’ approach instills the trust and dependability you want from a Finance Broker.
Byron Peet
Founder, Trackworks Design Pty Ltd
Not just a loan facilitator, but a long-term partner.
Major Banks and top tier lender rates are starting from around 7% at the moment. Rates depend on the 'risk' the banks determine in your loan application. For example, financing newer equipment that the bank would consider easy to resell if they had to, may attract lower rates. Older equipment, items bought privately, or specialised equipment that has low demand in a second hand market might attract higher rates. Other influences include whether you own property, how long you've been in business, and your credit history. Either way, we start by working out if we can set you up where the cheapest rates are, and work back from there.
Absolutely not.
The banks renumerate us with a brokerage fee for taking your business to them, and we will never double dip by charging you anything for our services.
Unlike some brokerage firms, we are firmly against charging you any direct fees when we arrange loans for you, especially ‘origination fees’ or ‘application fees’.
We’re certain you will be extremely satisfied with our professional services and will most likely become a repeat customer – for this reason, we have no need to charge you any fees each time you do business with us.
Please note that every lender does ask for an application fee of a few hundred dollars which you'll pay to them via direct debit at the time of settlement.
Low doc finance, offered by most banks, is a quick approval option. If you've been in business for over 2 years, have good credit history, and own property, you could be eligible for a $250-$500k approval within 24hrs. But use it wisely – once you max out your low doc limits between lenders, you can't borrow more until it's paid back. We look at low doc like it's a free kick. It's best to use it sparingly and keep it available for when you really need it for something urgent. We like to check if your financials might be looking good enough for a normal approval before using low doc, so we're setting you up to grow, rather than rushing you through without any long term strategy applied.
Full doc finance refers to a type of loan where the borrower provides complete financial documentation to support their application. This typically includes two years' worth of financial statements and tax returns, as well as interim reports. By providing this detailed information, the lender can thoroughly assess the financial health of the business or individual, which can often result in access to more premium lenders and better interest rates. If everything "stacks up" and shows stability, full doc finance may offer more favorable terms compared to other types of loans. To make this process easy, we usually suggest introducing us to your accountants and we can follow them up for the information we need.
No. Even the top 4 banks offer low doc, and it doesn’t matter if your approval is given under a low doc pathway or with your financials as a full assessment – the rate you get is determined on the equipment you’re buying, the loan structure and the amount financed. Same rates apply no matter how we get you approved. It’s worth noting that some equipment can be financed under low doc at some, but not all lenders.
It's okay if you don't have all your financials and tax returns ready - that's common for many business owners. We'll work with what you've got and explain which lenders we can approach with the info you have available. If we identify that there's a couple of quick updates could easily make to help with your application, we'll tell you. A few minor updates can often lead to placing you much cheaper loan options. We're experts at reviewing financial statements and can guide you on the best steps to take, or what we would do if we were in your shoes.
You can pay off your loan any time at your request! You simply pay out what is left in your loan at that time.
Here's some good news - when you request an 'early payout', most lenders discount some of the remaining interest in your loan balance, so you're saving money by paying out early. Some lenders (not all) might charge an 'early termination fee' of a couple of hundred dollars if you pay out within the first 12 months of your loan, but it's nominal compared to the interest waived in your early payout quote.
How it all works: Note that all equipment loans with every lender are fixed interest loans. This means the total principle and interest you'll repay in your loan is fixed, no matter whether you make extra payments each month. What this means is that if you make extra payments each month, it will just speed up the time it takes you to repay your fixed principle and interest in full, rather than saving you interest. So if you have surplus cash to put to repayments, sometimes it’s better off being put towards home loans or credit cards where the interest isn’t fixed.
You can request your loan to run anywhere from 2 to 7 years, but 5 years is the most common. Note that asking for 6 or 7 years is a special request for some lenders and it may only be offered at their discretion depending on the equipment they’re financing for you. Ultimately if we can’t get a 6 or 7 year loan term, we can arrange a balloon at the end of 5 years and this will offer you similar monthly repayments you might expect on 6 or 7 year terms.
The time it takes to get an approval arranged can vary depending on the complexity of the application and the documentation provided. Typically, if all the required information is submitted upfront and is complete, you can expect an approval within 1-2 business days. For more complex cases, such as those involving higher loan amounts or additional documentation, it might take longer. We're here to work with you and provide accurate and comprehensive information to help speed up the process.
Absolutely, and in fact, we usually recommend doing this up front so you can negotiation your machine purchase with confidence knowing your finance is arranged. Once you find the equipment you want to buy, our office will reach out to your seller and handle the paperwork while you sit back and watch it all come together.
"They've played a lot of different roles and been very good to us both personally and in Business. They've arranged our finance, led us to better accountants, and helped us run our business."
Jamie McCauley
Founder, McCauleys Cabinets
Such an easy process every single time we use Machine Heavy Equipment Finance. They know all the ins and outs to get you approved and earning money in no time. Wouldn’t use anyone else.
Matt Eastwood
Grade-Pro Civil Pty Ltd
No fluff speak to get your business, James gets straight to the point and will tell you the likely outcome before going to application. Its not only about obtaining the best interest rate, but the ease of the application.
Schluter Pastoral Co
Schluter Pastoral Co. Pty Ltd
James was great to deal with. He did all the work making it a very easy process to get my finance application approved. He took the time and effort to understand my business which resulted in getting a much better deal than I was offered through another broker.
Sharna Moss & Byron Peet
Trackworks Design Pty Ltd
Trusted by established contractors Australia-wide.
This will not affect your credit score.
Not just a loan facilitator, but a long-term partner.
Heavy machinery finance trusted by established contractors Australia-Wide.
CAFBA Member No. 293639 | College Capital Australia Broker | AFCA Member No. 89354
