Equipment and asset finance for Australian businesses

What do lenders publish on equipment finance?

Every major bank writes equipment loans, and a growing group of non-bank lenders competes on speed and on younger businesses. The terms below are what each lender states on its own product page, checked between 19 and 30 September 2026. Rates are set for each business and asset, so a rate is shown only where one is published. Terms change without notice; confirm with the lender or your broker before relying on them.

Macquarie, Pepper Money and the specialist asset financiers (Angle, flexicommercial, Metro) write equipment finance through brokers and do not publish product terms on their public sites, so they are not in the table. A broker has their rate cards.

What is the current interest rate on equipment finance?

There is no single current rate. The major banks quote each deal rather than publish a headline equipment finance rate, and the published examples are narrow: Grow Finance shows an indicative fixed rate of 9.55% p.a. in its calculator example, and Kubota Australia Finance publishes promotional business rates from 0% to 4.65% p.a. over 36 months on specific Kubota series. Several banks also publish discounts for low-emission assets: CommBank up to 1% p.a. on electric vehicles and up to 0.50% p.a. on other qualifying assets, ANZ 0.80% p.a. on approved energy-efficient assets with the Clean Energy Finance Corporation, and NAB 0.5% p.a. on qualifying green equipment.

What sets the rate you are quoted

• The asset: its type, age at the end of the term, and how easily the lender could resell it.
• The structure: the term and any balloon, which is interest-bearing for the whole term.
• The business: time trading, financials or bank statements, and the owners' credit files.
• The lender: banks, maker finance arms and specialist lenders price the same file differently.

What is asset finance, and is it better than a loan?

Asset finance is borrowing to buy, or leasing, a business asset with the asset itself as the security. For a specific purchase it usually beats an unsecured business loan: unsecured business loans carry higher rates because the lender has no specific asset to claim if you default, while asset finance often needs no deposit and can carry a balloon. An unsecured loan is the tool for small or fast purchases and costs that are not assets; Prospa lends from $5,000 with no asset security up to $150,000.

Is asset finance easy to get?

Easier than most business credit, because the asset secures it. It is not automatic: lenders check trading history, cash flow and credit files, and a business under 12 months old, an old or specialised asset, or a poor credit file narrows the lenders that will say yes, usually at a higher rate or with a deposit.

What do you need to qualify?

• An ABN, and the asset used fully or mostly for business (Westpac, NAB).
• At ANZ, applicants aged 18 or over who are Australian citizens or permanent residents.
• Trading history: 12 months at CommBank; 12 months of ABN and GST registration at Grow Finance.
• For bank amounts, two years of financials and tax returns and your current BAS; low-doc lenders work from bank statements.