FAQs

To be eligible for commercial financing, businesses need an ABN. Financials are requested by lenders. Where a new business does not have the financials requested, they may contact a broker for no doc lending options.

Farming machinery can be financed with Hire Purchase, Lease, Rent-to-Own and Chattel Mortgage.

Financing can be sourced for entire irrigator systems and installations and for individual components of the system. Subject to lender guidelines with loan amounts.

Asset finance can be secured with the asset as the sole form of collateral. Lenders assess applications individually and may request additional security from some operators.

A balloon amount is due to be paid after the last monthly repayment.

The same types of lending products are available for new and second-hand equipment. With used goods, the lender assesses the equipment for suitability as collateral. Rates and conditions may vary for new and used models.

Finance rates are primarily offered based on an assessment of the creditworthiness and ability to furnish the loan. The manufacturer of the equipment should not impact any rate offer.

To apply for an irrigator loan, businesses will need an ABN, ID and provide financial documentation on the business operation.

No deposit financing on farm machinery is available, subject to individual lender approval following their assessment of the application.

Were attachments and accessories are purchased at the same time as a system and from the same source, many lenders will provide financing for the complete package.