Machinery Finance for Sole Traders & Contractors

Tradie and contractor machinery finance is commercial vehicle finance for sole traders, subcontractors, self-employed workers and businesses purchasing a machine for work. Finance can be used for new or used machines across industries including construction, earthmoving, landscaping, plumbing, electrical, civil works, building, transport, waste management and other contracting businesses.

Machinery finance rates depend on your credit profile, ABN and business history, financial position, the age and value of the machine, loan amount and preferred loan structure. Eligible applicants with established businesses, strong credit profiles and newer machines may qualify for more competitive rates. We compare options across 80+ lenders and negotiate directly with lenders for competitive pricing based on your circumstances. Rates are indicative only and subject to lender criteria, credit assessment, fees, terms and approval.

Potentially. Eligible tradies and contractors may be able to obtain machinery finance using their ABN with limited supporting documentation. An ABN alone doesn't guarantee approval. Lenders may also consider how long you've been trading, GST registration, credit history, financial position, industry experience, loan amount and the machine you're purchasing.

Yes. Sole traders can apply for commercial machinery finance, subject to lender eligibility and credit assessment. We can also arrange finance for contractors, subcontractors, self-employed applicants, companies and trusts.

Yes. Machinery finance may be available to subcontractors and independent contractors, including applicants who earn income through contracts rather than traditional employment. Depending on your circumstances, lenders may consider your trading history, contracts, bank statements, previous industry experience and other evidence of business income.

Potentially. Selected lenders consider applications from new businesses and recently established ABN holders. Relevant industry experience can help support an application. For example, someone who has worked in construction for several years before starting their own contracting business may have options despite having a relatively new ABN.

Yes. No deposit machinery finance may be available to eligible tradies and contractors. Whether a deposit or contribution is required depends on your business history, credit profile, financial position, machine, amount being financed and lender criteria.

Yes. Eligible tradies, contractors and self-employed applicants may qualify for low doc, lite doc or no doc machinery finance, including finance of up to $500,000 in suitable circumstances. These options can reduce the need to provide complete financial statements and tax returns, although lenders may require alternative information to assess the application.

Potentially. Selected lenders may consider eligible applications without full financial statements or tax returns. Depending on your circumstances, alternative documentation such as bank statements, BAS, an assets and liabilities statement or evidence of contracts and business income may be required.

Potentially. Variable income is common for tradies and contractors and doesn't automatically prevent you from obtaining machinery finance. A lender may look at your overall trading history and cash flow rather than relying on a single month's income. Additional documentation may be requested where income is seasonal or varies significantly.

Not necessarily. A signed contract isn't required by every lender. However, current contracts, upcoming projects or other evidence of future work can help support some applications, particularly where you've recently started your business or are purchasing a larger machine to take on additional work.

Potentially. If you need a machine before commencing a new project or contract, selected lenders may consider the application based on your overall circumstances. Evidence of the upcoming work, previous industry experience and expected income can help support the application where required.

Yes. Tradies and contractors can finance both new and used machines. For used machines, lenders generally consider factors such as the vehicle's age, condition, purchase price, market value and expected age at the end of the finance term.

Finance can be arranged for a wide range of commercial machines, including tippers, dump machines, crane machines, tilt trays, service machines, rigid machines, flatbeds, tray machines and other specialised commercial vehicles. The machine will generally need to be suitable for the business purpose and meet the lender's asset criteria.

Potentially. Finance may be available for machines fitted with cranes, tipper bodies, trays, toolboxes and other eligible equipment. Whether the complete purchase can be financed under one facility depends on the machine, equipment, supplier, purchase structure and lender criteria.

Yes. Selected lenders provide finance for machines purchased from private sellers as well as dealerships. Private-sale transactions can require additional checks on the seller, ownership and vehicle before settlement.

Yes, subject to lender and vehicle eligibility. Because auctions can have short payment deadlines, arranging pre-approval before bidding can help you understand your available finance and maximum budget before committing to a purchase.

Potentially. Previous credit issues don't automatically prevent a tradie or contractor from obtaining machinery finance. Some lenders consider applicants with imperfect credit histories. The available rate, deposit, loan amount and terms will depend on the type and age of the credit issues and your current financial circumstances.

Borrowing capacity depends on your business circumstances, credit profile, cash flow, existing commitments, the machine being purchased and lender criteria. Eligible applicants may access low doc or no doc machinery finance up to $500,000, while other commercial lending options may accommodate different loan amounts.

Machinery finance terms of up to 7 years may be available to eligible applicants. The available term depends on the machine's age and value, loan amount, finance structure and lender criteria. A longer term can reduce regular repayments but may increase the total interest payable.

Yes. Balloon payments may be available on eligible commercial machinery loans. A balloon leaves an agreed amount outstanding at the end of the loan and can reduce regular repayments during the finance term. The available balloon depends on the machine, loan term and lender criteria.

Not necessarily. With some commercial vehicle finance products, the machine itself can provide security for the loan, meaning additional residential property or other asset security may not be required. Lenders may still require guarantees or impose other conditions depending on the application.

Yes. Eligible businesses can finance multiple machines and commercial vehicles, subject to lender approval. This can include adding another machine for an employee, expanding into larger contracts or replacing and expanding an existing fleet.

Potentially. Existing commercial machinery finance may be able to be refinanced to obtain a different repayment structure, term or rate. Whether refinancing is worthwhile depends on your existing payout figure, remaining loan term, fees and the new finance available.

Eligible applications may receive same-day pre-approval, with finance decisions or approvals potentially available within 24 to 48 hours once the required information has been supplied. Timing depends on the lender, applicant, machine and whether additional documentation or checks are required.

Not necessarily. Where available, we may be able to initially compare or assess your options without submitting a formal credit application. A formal application may involve a credit enquiry. We can explain the process before an application is submitted to a lender.

Requirements vary between lenders, but you may be asked for your ABN and business details, identification, details of the machine and purchase price, and information about your existing financial commitments. Depending on the application, lenders may also request bank statements, BAS, contracts, an assets and liabilities statement or other supporting information.

Different lenders have different requirements for sole traders, subcontractors and self-employed applicants. Comparing lenders can be particularly valuable when your income is variable, your ABN is relatively new or you don't have complete financial statements available. We compare options across 80+ lenders, negotiate directly with lenders and structure the application around your business and the machine you're purchasing. You'll work directly with Simon, our Director, on every deal from your first machine through to your next machine and future fleet growth — no call centres or unnecessary handovers.