Equipment Finance
Benefits:
Level up
Upgrade or replace outdated equipment
Quick & easy
Easy approval process
Grow the business
Invest in the latest tools and technology to streamline operations
Pricing and Fees
Low-Doc and Lite-Doc up to $1m
| Special | Primary | Secondary | Tertiary | |
|---|---|---|---|---|
| Property | 7.89%* | 8.29% | 8.99% | 10.99% |
| Non Property | 7.89%* | 9.29% | 8.99% | 11.99% |
All application >1m are priced on application
* Special applies to the following assets: Cars, Commercial Vehicles & Yellow Goods (wheels & tracks)
Loadings
| < 2yrs GST | 2.00% |
| EOT > 10yrs | 1.50% |
| <$25k Facility Amount | 2.00% |
| EOT > 15yrs | 2.50% |
| Private Sale | 0.50% |
| Refinance & Cap Raise | 1.00% |
Fees
| Establishment Fee | $495 |
| Establishment Fee (Private Sale and Cap Raise) | $695 |
Balloons
Loan Terms
| Asset Class | 1-3yrs | 4yrs | 5yrs |
|---|---|---|---|
| Primary | 50% | 40% | 30% |
| Secondary | 40% | 30% | 20% |
| Tertiary | 0% | 0% | 0% |
Max End of Term age for balloons is 10yrs. Only eligible for Primary Assets
Eligibility
Requirements
| Low-Doc | Lite-Doc | Full-Doc | |
|---|---|---|---|
| Loan Amount | $10k* - $250k | $250k - $500k | $250k - $2m |
| GST Registration | 24mths* | ||
| Credit Reference | Not Required | ||
| Home Ownership | Not Required | Required | Not Required |
| Deposit | Not Required | ||
| Asset Class | Primary, Secondary and Tertiary | ||
| Credit Score | Equifax score of min 500*** | ||
| Bank Statements | Not Required** | Required | |
| Financials / ATO Statements | Not Required | Required | |
| Deal Type | |||
| New | Yes | Yes | |
| Used | |||
| Private | |||
| Sale & Leaseback | N/A | N/A | Yes |
| Refinance | |||
| Capital Raise | |||
* Less than 24mths GST registration may be accepted with deposit, or if property backed. Facilities <$25k incur a 2.00% loading.
** Bank statements required for all Prime Movers, Trailers and Tertiary assets. Secondary assets >$200k must be asset backed and requires bank statements.
EQUIFAX INFORMATION
Moneytech uses the following Equifax reports:
- Equifax Company Scored Enquiry
- Equifax Company Scored Enquiry — Enriched (automatically used when ASIC data is older than 30 days)
- Equifax Commercial Apply for individuals (commercial + consumer report
***If GST <2yrs and/or a Tertiary asset, Equifax score must be min 700.
Allowable Entity Types
| Acceptable | |
|---|---|
| Private Company | Yes |
| Individual / Sole Trader | Yes (Bank Statements Required) |
| Partnerships | Yes |
| Discretionary Trading Trust | Yes |
| Discretionary Investment Trust | Yes |
| Fixed Unit Trust | Yes |
| Australian Public Company | Yes |
Assets
Assets
| Asset Class | Max EOT Age | Bank Statements | Doc Requirements | |
|---|---|---|---|---|
| Bus | Primary | 20yrs* | Low-Doc, Lite-Doc, Full-Doc | |
| Car - Electric | Primary | 15yrs | Low-Doc, Lite-Doc, Full-Doc | |
| Car - Standard (Wagon, Sedan, Hatch etc) | Primary | 20yrs* | Low-Doc, Lite-Doc, Full-Doc | |
| Commercial Vehicle - Tradie Utes, Vans | Primary | 20yrs* | Low-Doc, Lite-Doc, Full-Doc | |
| Forklift / Scissor Lift | Primary | 20yrs* | Low-Doc, Lite-Doc, Full-Doc | |
| Other - Primary | Primary | N/A | Low-Doc, Lite-Doc, Full-Doc | |
| Trailer | Primary | 25yrs* | Required | Low-Doc, Lite-Doc, Full-Doc |
| Truck < 4.5t | Primary | 20yrs* | Low-Doc, Lite-Doc, Full-Doc | |
| Truck > 4.5t | Primary | 20yrs* | Low-Doc, Lite-Doc, Full-Doc | |
| Truck - Prime Mover | Primary | 20yrs* | Required | Low-Doc, Lite-Doc, Full-Doc |
| Yellow Goods - Wheels and Tracks | Primary | 20yrs | Low-Doc, Lite-Doc, Full-Doc | |
| Car - Classic | Secondary | N/A | Full-Doc | |
| Car - Luxury | Secondary | 15yrs | Lite-Doc | |
| Car - Exotic | Secondary | 15yrs | Full-doc | |
| Conveyors | Secondary | N/A | Full-Doc | |
| Mining Equipment - Above Ground | Secondary | 20yrs | Low-Doc, Lite-Doc, Full-Doc | |
| Mining Equipment - Coal | Secondary | N/A | Full-Doc | |
| Mobile Agriculture & Farming Equipment | Secondary | 20yrs | Low-Doc, Lite-Doc, Full-Doc | |
| Mobile Cranes / Lifting < 25T | Secondary | 20yrs | Low-Doc, Lite-Doc, Full-Doc | |
| Other - Secondary | Secondary | N/A | Low-Doc, Lite-Doc, Full-Doc | |
| Packaging Manufacturing Equipment | Secondary | 20yrs | Low-Doc, Lite-Doc, Full-Doc | |
| Pharmaceutical Production Equipment | Secondary | 20yrs | Low-Doc, Lite-Doc, Full-Doc | |
| Recycling Equipment & MURF Plant | Secondary | 20yrs | Low-Doc, Lite-Doc, Full-Doc | |
| Steel Engineering & Fabrication | Secondary | 20yrs | Low-Doc, Lite-Doc, Full-Doc | |
| Wine & Beer, Processing Packaging & Farming | Secondary | 20yrs | Low-Doc, Lite-Doc, Full-Doc | |
| Wood Working & Fabrication | Secondary | 20yrs | Low-Doc, Lite-Doc, Full-Doc | |
| Yellow Goods - not wheels or tracks | Secondary | 20yrs | Low-Doc, Lite-Doc, Full-Doc | |
| Air Conditioning / Cooling | Tertiary | N/A | Full-Doc | |
| Boats | Tertiary | N/A | Full-Doc | |
| Caravan | Tertiary | N/A | Low-Doc, Lite-Doc, Full-Doc | |
| Catering / Hospitality | Tertiary | N/A | Low-Doc, Lite-Doc, Full-Doc | |
| Commercial Cleaning | Tertiary | N/A | Low-Doc, Lite-Doc, Full-Doc | |
| Commercial Fitout | Tertiary | N/A | Full-Doc | |
| Commercial Laundry (no consumables or non affixed) | Tertiary | N/A | Low-Doc, Lite-Doc, Full-Doc | |
| Cool Rooms / Refrigeration | Tertiary | N/A | Full-Doc | |
| Drones | Tertiary | N/A | Low-Doc, Lite-Doc, Full-Doc | |
| Environment Portable Hand Tools, Sampling, Testing & Lab Equipment | Tertiary | N/A | Full-Doc | |
| Event Hire | Tertiary | N/A | Full-Doc | |
| Film & Video Production | Tertiary | N/A | Full-Doc | |
| Food & Beverage Production Equipment (no consumables and non affixed) | Tertiary | N/A | Low-Doc, Lite-Doc, Full-Doc | |
| Food Vans - Not Fitted | Tertiary | N/A | Low-Doc, Lite-Doc, Full-Doc | |
| Golf Carts | Tertiary | N/A | Low-Doc, Lite-Doc, Full-Doc | |
| Horizontal Drilling & Boring | Tertiary | 20yrs | Low-Doc, Lite-Doc, Full-Doc | |
| IT Equipment | Tertiary | N/A | Full-Doc | |
| Loose Furniture | Tertiary | N/A | Full-Doc | |
| Medical, Dentistry, Imaging, Testing Equipment | Tertiary | 20yrs | Low-Doc, Lite-Doc, Full-Doc | |
| Mining - Below Ground | Tertiary | N/A | Full-Doc | |
| Mobile Cranes / Lifting >25T or Fixed Cranes | Tertiary | N/A | Full-Doc | |
| Motorcycle / Motorbikes | Tertiary | N/A | Low-Doc, Lite-Doc, Full-Doc | |
| Other - Tertiary | Tertiary | N/A | Low-Doc, Lite-Doc, Full-Doc | |
| Pallets | Tertiary | N/A | Full-Doc | |
| Point of Sale Equipment | Tertiary | N/A | Full-Doc | |
| Portable Staging & Seating | Tertiary | N/A | Full-Doc | |
| Printing Equipment | Tertiary | 20yrs | Full-Doc | |
| Pumping | Tertiary | N/A | Full-Doc | |
| Quad Bikes | Tertiary | N/A | Full-Doc | |
| Renewable (Excluding Fixed Solar) | Tertiary | 20yrs | Low-Doc, Lite-Doc, Full-Doc | |
| Shipping Containers | Tertiary | N/A | Full-Doc | |
| Solar Panels | Tertiary | N/A | Full-Doc | |
| Sound & Lighting | Tertiary | N/A | Full-Doc | |
| Spray Booths / Drying | Tertiary | N/A | Full-Doc | |
| Vertical (Exploration) Drilling | Tertiary | N/A | Low-Doc, Lite-Doc, Full-Doc |
Brokerage & Origination Fee
Brokerage & Origination Fee
| Brokerage | up to 5% |
| Origination fees | Up to $900 + GST |
