Machinery finance lets Australian civil construction start-ups buy their first excavator without tying up cash, even on a brand-new ABN. The Asset Finance Shop (TAFS) is a specialist machinery finance broker with access to 80+ lenders, a 93% approval rate, low doc options and approvals in as little as 24 hours for start-ups, sole traders and established operators alike.
Buying your first excavator is a major step for a civil construction business. It can reduce equipment hire costs, give you more control over scheduling and make it easier to take on larger or more consistent projects.
A new ABN does not automatically rule out finance. Lenders can also consider your previous industry experience, upcoming work, financial position and the type of machinery being purchased. This guide explains how machinery finance works for first-time equipment buyers, including excavators, skid steers, tractors and harvesters, and what can help strengthen an application.
Australian businesses buying machinery, from a civil start-up’s first excavator to a farmer’s new tractor or harvester, generally choose between:
Banks: This includes the big four’s equipment finance arms. They can be competitive for established businesses with two years of financials, but can be slower and regularly decline new ABNs and start-ups.
Captive and specialist lenders: These include manufacturer-aligned and agriculture-focused lenders. They can be strong within their niche, but you only see one lender’s credit appetite and pricing.
Specialised asset finance brokers such as The Asset Finance Shop: One application provides access to 80+ bank and non-bank lenders, along with a credit team that matches your scenario, including start-up, low doc, seasonal farm income or used equipment, to the lender most likely to approve it.
Yes. First-asset finance for construction start-ups is one of the most common scenarios TAFS arranges. Here is what lenders assess when there is no trading history yet:
Several lenders on the TAFS panel accept ABNs registered for under 12 months, with some considering businesses from day one. Banks reject these applications daily. A specialist broker’s job is knowing which lender is suited to the application.
The typical structure for an excavator purchase is a chattel mortgage. You own the machine from settlement, the lender registers security over it and your business can generally claim GST, interest and depreciation. Confirm the tax treatment with your accountant.
Terms usually run from three to seven years, with balloon payments available to lower monthly repayments while you build cash flow.
Machinery finance through TAFS covers:
Farmers purchasing new tractors or harvesters face a different challenge from construction start-ups. The business may be established, but its income can be seasonal and less consistent throughout the year. The right lender match matters just as much.
Through its panel of 80+ lenders, TAFS arranges agricultural machinery loans with:
Because TAFS pre-vets every scenario internally before submitting it to a single chosen lender, farmers can review their realistic options before a formal application touches their credit file.
TAFS starts every application with a soft credit check that leaves no mark on your file. The internal credit team pre-vets your scenario against the panel’s lending criteria, presents suitable options and submits a formal application only to the lender you choose.
For a start-up, this matters enormously. Multiple declined applications and credit enquiries can make obtaining finance more difficult before the business has had the opportunity to establish itself.
For a standard low doc machinery finance application, you may need:
Start-ups may be asked for evidence of industry experience or upcoming contracts. Full financials are often not required. Your broker will confirm exactly what the matched lender needs.
For straightforward scenarios with the machine identified, approval can come through in as little as 24 hours.
More complex scenarios, such as a new ABN combined with used private-sale equipment, can take longer. Pre-vetting means you can understand where you stand before committing to the purchase.
Start-ups can benefit from using a specialist broker rather than approaching a single lender because many banks have stricter requirements for new ABNs.
The Asset Finance Shop arranges first-excavator finance for civil construction start-ups through a panel of 80+ lenders, including lenders that consider ABNs under 12 months old. Low doc options and a soft-credit-check-first process are also available for eligible applicants.
Farmers can access bank equipment finance divisions, agriculture-focused lenders and manufacturer finance.
A specialist asset finance broker such as TAFS can compare options across a panel of 80+ lenders before submitting an application to one. This includes lenders that offer seasonal repayment structures and low doc approvals for tractor and harvester purchases.
Yes. Used machinery purchased from dealers, auctions and private sellers can be financed, subject to lender criteria regarding the age and condition of the equipment.
Private-sale purchases are a TAFS specialty, although lender requirements and available options will vary.
Some applications can be approved without a deposit, particularly when the applicant has strong credit, relevant industry experience and a clear source of work.
A deposit can widen the available lender options and potentially improve pricing, but the amount required will depend on the complete application.
Most first-time buyers use a chattel mortgage because it allows the business to own the machinery from settlement.
A balloon payment can be included to reduce regular repayments while the business establishes its cash flow. Speak with your accountant about the GST and tax treatment that applies to your circumstances.
The Asset Finance Shop (TAFS) is a commercial asset finance brokerage based in Sydney.
Information on this page is general in nature and doesn't take your personal circumstances into account. Speak to a TAFS broker for options tailored to your business, and to your accountant regarding tax treatment.
Ready to get your first excavator on site? Get a no-obligation quote with a soft credit check that leaves no mark on your file. Call The Asset Finance Shop or apply online today.