Equipment Finance

A chattel mortgage (or hire-purchase finance) is a way to acquire equipment while spreading the cost over time.

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Equipment Finance

Overview

Equipment finance goes by many names including - A chattel mortgage or hire-purchase finance. This loan type is a way to acquire business equipment while spreading the cost over time. You own the asset from day one, but it's used as security for the loan (kind of like a home loan). It's very commonly used for businesses needing big-ticket items while spreading the cost over time. Once the loan is paid off, the asset is fully yours with no strings attached. Perfect for staying on budget while growing your business!

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Asset and Equipment Finance
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Equipment Finance

Features

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01

Typical Uses

Pros

Cons

Think About

  • Upgrading existing assets
  • Making the most of government initiatives
  • Expanding the business/product offering
  • Preserving cash reserves for other priorities.
  • Frees up cash for other areas of your business.
  • Existing debt doesn’t usually affect approval.
  • Can qualify for government tax initiatives
  • Interest rates are often lower than unsecured loans.
  • Can free up cash from the sale of old equipment.
  • Often come with stricter terms compared to unsecured loans.
  • Early loan payouts may incur fees from some lenders.
  • Some lenders include extra fees and charges beyond interest.
  • If the equipment's value drops, you may be left owing more than it’s worth.
  • Is my current equipment getting unreliable, hard to use or outdated?
  • Am I comfortable with a 3–7 year loan?
  • What is my old equipment worth, and do I want to use some of the money?
  • Can new equipment help me increase revenue or reduce costs?
Typical Uses
  • Upgrading existing assets
  • Making the most of government initiatives
  • Expanding the business/product offering
  • Preserving cash reserves for other priorities.
Pros
  • Frees up cash for other areas of your business.
  • Existing debt doesn’t usually affect approval.
  • Can qualify for government tax initiatives
  • Interest rates are often lower than unsecured loans.
  • Can free up cash from the sale of old equipment.
Cons
  • Often come with stricter terms compared to unsecured loans.
  • Early loan payouts may incur fees from some lenders.
  • Some lenders include extra fees and charges beyond interest.
  • If the equipment's value drops, you may be left owing more than it’s worth.
Think About
  • Is my current equipment getting unreliable, hard to use or outdated?
  • Am I comfortable with a 3–7 year loan?
  • What is my old equipment worth, and do I want to use some of the money?
  • Can new equipment help me increase revenue or reduce costs?
Typical Uses
  • Upgrading existing assets
  • Making the most of government initiatives
  • Expanding the business/product offering
  • Preserving cash reserves for other priorities.
Pros
  • Frees up cash for other areas of your business.
  • Existing debt doesn’t usually affect approval.
  • Can qualify for government tax initiatives
  • Interest rates are often lower than unsecured loans.
  • Can free up cash from the sale of old equipment.
Cons
  • Often come with stricter terms compared to unsecured loans.
  • Early loan payouts may incur fees from some lenders.
  • Some lenders include extra fees and charges beyond interest.
  • If the equipment's value drops, you may be left owing more than it’s worth.
Think About
  • Is my current equipment getting unreliable, hard to use or outdated?
  • Am I comfortable with a 3–7 year loan?
  • What is my old equipment worth, and do I want to use some of the money?
  • Can new equipment help me increase revenue or reduce costs?

Potential Lenders

Further Information

MAXIMUM LOAN AMOUNT

NA

MINIMUM LOAN AMOUNT

$5,000

SPEED

Medium

INTEREST RATE

From 6.99%

MAXIMUM LOAN TERM

7 Years

MINIMUM LOAN TERM

3 Months

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What Sets Us Apart

DIY business loans
Lender access
Access to 90+ lenders matched to your business profile
Limited to the lenders you can find
Expert guidance
A lending expert is with you every step of the way
No expert help- you're on your own to understand requirements and loan options
Time investment
One single application
Multiple applications and follow-ups with different lenders
Matching accuracy
Our product-matching software combined with human insight pairs you with best-fit lenders
Trial and error- may apply to several lenders who aren't suitable
Application process
Streamlined, digital, and guided
Manual and varies across lenders
Approval speed
Funding in as little as 24 hours
Slower, as each lender has its own process
Chances of approval
Higher chance of approval with tailored lender matching
Risk of rejection when applying with the wrong lender or product
Understanding loan terms
Our lending experts make sure you fully understand the terms before you say yes
‍
You’ll need to interpret lender jargon and fine print yourself
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How We Help Fuel Your Business Growth

ONE APPLICATION TO 90+ LENDERS

At Valiant, we do the heavy lifting of your loan application. All you need to do is complete one easy form (which takes just 5-10 minutes) or jump on a quick call with one of our specialists.

From there, we use our leading product-matching software to find the right solution for you from over 90+ trusted lenders.

There's no need for endless paperwork or back-and-forth with multiple banks. Thanks to our streamlined process we can help you secure the right deal in as little as 24 hours.
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PERSONALISED SUPPORT

With a team of experienced brokers, we operate across all niches of commercial finance. No matter what your funding needs or business goals are, there's someone at Valiant who can help you.

From the moment you request a quote, you're paired with a broker who'll guide you from application to settlement.

And it doesn't end there. After approval, your broker becomes your go-to partner for future funding needs.
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FAQ's

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How does equipment finance work?

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