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Upgrade or replace outdated equipment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, Lite-Doc and Full-Doc up to $2m
| Special | Primary | Secondary | Tertiary | |
|---|---|---|---|---|
| Property Owner | 8.34%* | 8.74% | 9.44% | 11.44% |
| Non Property Owner | 8.79%* | 9.74% | 10.44% | 12.44% |
- Primary special applies to the following assets: Yellow Goods (wheels and tracks), Cars and Commercial Vehicles (utes and vans) and Electric Vehicles up to $1,000,000
Loadings
| < 2yrs GST | 2.00% |
| >$1m Facility Limit | 1.00% |
| EOT > 10yrs | 1.00% |
| <$25k Facility Amount | 2.00% |
| EOT > 15yrs | 2.00% |
| Private Sale | 0.50% |
| Refinance & Cap Raise | 2.00% |
| *Applications that fall outside standard credit criteria may be subject to an interest rate loading of up to 4.00%, at Moneytech’s discretion. | |
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.
Eligibility
Requirements
| Low-Doc | Lite-Doc | Full-Doc | |
|---|---|---|---|
| Purchase Price | $10k - $150k* | Up to $1m | Up to $2m |
| GST Registration | 24mths** | ||
| Home Ownership | Not Required | ||
| Deposit | Not Required | ||
| Asset Class | Primary and Secondary | Primary, Secondary and Tertiary | |
| Credit Score - Business | Equifax score of min 500 | ||
| Credit Score - Director | 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. If private sale and >$150k, we will require bank statements.
***If GST <2yrs and/or a Tertiary asset, Equifax score must be min 700.
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) data level: negative
* Bank statements required for all Prime Movers and Trailers where facility is > $100k.
* *All businesses must be GST registered. Less than 24mths GST registration may be accepted where director/s can demonstrate industry experience and director/s personal score is 700+.
EQUIFAX INFORMATION
Moneytech uses the following Equifax reports:
– Equifax Company Scoring Enquiry
– Equifax Company Scored Enquiry – Enriched
– Equifax Commercial Apply for Individuals
Equipment Finance > Eligibility > Allowable Entity Types
| Acceptable | |
|---|---|
| Private Company | Yes |
| Individual / Sole Trader | No |
| Partnerships | No |
| Discretionary Trading Trust | Yes |
| Discretionary Investment Trust | Yes |
| Fixed Unit Trust | Yes |
| Australian Public Company | Yes |
Assets
Assets
| Asset Class | Max EOT Age | |
|---|---|---|
| Bus | Primary | 20yrs* |
| Car - Electric | Primary | 8yrs |
| Car - Standard (Wagon, Sedan, Hatch etc) | Primary | 20yrs* |
| Commercial Vehicle - Tradie Utes, Vans | Primary | 20yrs* |
| Earthmoving Equipment | Primary | 20yrs |
| Forklift / Scissor Lift | Primary | 20yrs* |
| Other - Primary | Primary | 20yrs |
| Trailer | Primary | 25yrs* |
| Truck < 4.5t | Primary | 20yrs* |
| Truck > 4.5t | Primary | 20yrs* |
| Truck - Prime Mover | Primary | 20yrs* |
| Yellow Goods - Wheels and Tracks | Primary | 20yrs |
| Car - Classic | Secondary | N/A |
| Car - Luxury | Secondary | 15yrs |
| Car - Exotic | Secondary | 15yrs |
| Conveyors | Secondary | N/A |
| Medical, Dentistry, Imaging, Testing Equipment | Secondary | 20yrs |
| Mining Equipment - Above Ground | Secondary | 20yrs |
| Mining Equipment - Coal | Secondary | 5yrs |
| Mobile Agriculture & Farming Equipment | Secondary | 20yrs |
| Mobile Cranes / Lifting < 25T | Secondary | 20yrs |
| Other - Secondary | Secondary | 20yrs |
| Packaging Manufacturing Equipment | Secondary | 20yrs |
| Pharmaceutical Production Equipment | Secondary | 20yrs |
| Recycling Equipment & MURF Plant | Secondary | 20yrs |
| Steel Engineering & Fabrication | Secondary | 20yrs |
| Wine & Beer, Processing Packaging & Farming | Secondary | 20yrs |
| Wood Working & Fabrication | Secondary | 20yrs |
| Yellow Goods - not wheels or tracks | Secondary | 20yrs |
| Air Conditioning / Cooling | Tertiary | 5yrs |
| Caravan | Tertiary | 5yrs |
| Commercial Cleaning | Tertiary | 5yrs |
| Commercial Fitout | Tertiary | 5yrs |
| Commercial Laundry (no consumables or non affixed) | Tertiary | 5yrs |
| Cool Rooms / Refrigeration | Tertiary | 5yrs |
| Drones | Tertiary | 5yrs |
| Environment Portable Hand Tools, Sampling, Testing & Lab Equipment | Tertiary | 5yrs |
| Film & Video Production | Tertiary | 5yrs |
| Food & Beverage Production Equipment (no consumables and non affixed) | Tertiary | 5yrs |
| Food Vans - Not Fitted | Tertiary | 5yrs |
| Golf Carts | Tertiary | 5yrs |
| Horizontal Drilling & Boring | Tertiary | 20yrs |
| IT Equipment | Tertiary | 5yrs |
| Mining - Below Ground | Tertiary | 5yrs |
| Mobile Cranes / Lifting >25T or Fixed Cranes | Tertiary | 5yrs |
| Motorcycle / Motorbikes | Tertiary | 5yrs |
| Other - Tertiary | Tertiary | 5yrs |
| Point of Sale Equipment | Tertiary | 5yrs |
| Portable Staging & Seating | Tertiary | 5yrs |
| Pumping | Tertiary | 5yrs |
| Renewable (Excluding Fixed Solar) | Tertiary | 20yrs |
| Sound & Lighting | Tertiary | 5yrs |
| Vertical (Exploration) Drilling | Tertiary | 5yrs |
Brokerage & Origination Fee
Brokerage & Origination Fee
| Brokerage | up to 5% |
| Origination fees | Up to $900 + GST |
Industry Restrictions
| Industries Moneytech has no appetite to fund: |
|---|
| Businesses materially reliant on cryptocurrency, digital assets or unregulated financials products |
| Registered coal mining and thermal coal businesses |
| Consumer finance, personal lending, payday-style lending or unsupported third-party lending |
| Gambling activities |
| Adult / inappropriate activities |
| Illegal, sanctioned, high-reputational-risk or environmentally unacceptable activities |
| Oil and gas extraction / petroleum and coal product manufacturing |
| Specialised NDIS service providers |
| Residential property or residential property development |
| Taxi operators, ride share, hire car with driver |
| Tobacco, manufacturing, wholesale or retailing where tobacco is material |
