Equipment finance allows businesses to purchase or lease the tools, machinery, vehicles, and technology they need without paying upfront in cash. The right equipment finance structure can also deliver meaningful tax benefits — though we always recommend confirming these with your accountant.
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Frequently asked questions
What is a chattel mortgage?
A chattel mortgage is a loan where your business owns the equipment from day one and the lender takes a mortgage over it as security. You can typically claim the GST upfront and depreciate the asset.
What's the difference between a finance lease and a chattel mortgage?
With a finance lease, the lender technically owns the equipment and leases it to you. At the end of the term, you may have an option to purchase. Tax treatment differs — your accountant can advise on what's optimal for your situation.
Can I finance used equipment?
Yes, many lenders finance used equipment. Age, condition, and type of equipment affect eligibility and rates.
Is there a minimum or maximum loan amount?
Equipment finance is available from a few thousand dollars to several million, depending on the lender and asset type.