Equipment finance

 

Equipment finance allows businesses to access funding to purchase an asset which is used to secure the loan.

The table below compares a selection of equipment finance providers available in the market. We have selected the providers which have information publicly available to be included in the table. The information about the equipment finance providers in the table is as at the 5th of December 2019. We will not be actively updating the table so not all providers may be available and features may have changed. Please note that providers have been sorted alphabetically, A to Z, by brand name.

While best endeavours have been made to reflect accurate information, this information should not be solely relied upon. For further details, Canstar suggests getting in touch with the provider, accessing the information available on their website and consulting professional advisers as required. Always read the loan information documentation and consider whether the product makes sense for your financial circumstances. Canstar does not rate equipment finance providers and makes no recommendation about comparative features and benefits with respect to these products.

Brand name Available New Available Old Min Loan Term Max Loan Term Min Loan Amount Max Loan Amount Fees Apply Online Loan security
Allianz $2,500 $20,000 Yes
Alphera Financial Services
AMMF 3 years 5 years $10,000 $30,000 Yes
ANZ $7,500 No
Bank of Melbourne 1 year 7 years $15,000 $450 establishment fee No
BankSA 1 year 7 years $15,000 $450 establishment fee No
Bankwest $20,000 $595 documentation fee No
Capify 3 months 1 year $5,000 $300,000 3% organisation fee Yes
Capital Finance Yes Yes 1 year 5 years $5,000 $1,000,000 No
Capitalcorp Equipment Finance 1 year 7 years Yes
Cashflow Finance Yes Yes $20,000 $500,000 Yes
CBA 2 years 5 years Yes Both
Finance Ezi Yes Yes No Both
Getcapital 6 months 2 years $10,000 $500,000 $0 Yes Unsecured
Grow Asset Finance 2 years 5 years $5,000 $250,000 Yes
Lend $5,000 Yes Both
Lumi 3 months 18 months $5,000 $200,000 2.5% establishment fee Yes Unsecured
Max funding 1 month 1 year $2,000 $300,000 $0 Yes Unsecured
Metro Finance Yes Yes 2 years 5 years $5,000 $250,000 No
Money 3 years 5 years Both
Moula 6 months 3 years $5,000 $500,000 $0 Yes Unsecured
NAB 5 years $150,000 $500 establishment fee Yes
Ondeck 6 months 2 years $10,000 $250,000 2.5% organisation fee Yes Unsecured
Pepper Money $5,000 No Both
Prospa 3 months 2 years $5,000 $300,000 3% organisation fee No Both
Resicom 1 year 7 years No
Rural Bank 2 years 5 years $20,000 No Both
Savvy Yes Yes 1 year 7 years $5,000 $500,000 Yes
Spotcap 1 year 2 years Yes Unsecured
St George $15,000 $395 establishment fee No
Stratton Finance 1 year 7 years yes Both
Suncorp 1 year 5 years $350 establishment fee No Both
TL Rentals $35,000 $350,000 No
Valiant 3 months 5 years $5,000 $1,000,000 $0 yes Unsecured
Westpac 1 year 5 years $15,000 $450 establishment fee No Both