FAQs

The same credit facilities – Lease, Rent-to-Own, Chattel Mortgage and Hire Purchase, can be used to fund all types of agricultural equipment.

Farming machines including sprayers may be financed with the operator’s choice of Hire Purchase, Leasing, Chattel Mortgage, and Rent-to-Own.

New businesses with less than 12 months of trading figures and without full financials may seek Low Doc Asset Finance through brokers and specialist lenders.

Agricultural machinery financing products allow for the machine to be the main collateral for the funding. Following a lender assessment of the application and the machinery, lenders advise if any additional security is required.

Residual and balloon payments may be refinanced, subject to lender approval.

The purchase of used agri machinery can be funded with the same credit facilities as new machines – Lease, Hire Purchase, Chattel Mortgage and Rent-to-Own.

Yes. Machinery loan applications can be submitted based on an estimated amount required and an indication of the machine details, prior to an actual purchase commitment. Conditional approval is sought based on the initial information and any offer adjusted after the purchase commitment is made.

To apply for machinery funding, operators will need an ABN, ID and a range of financial documents including accounts, tax returns, BAS returns, profit and loss statements, turnover figures, bank statements and similar.

Subject to individual lender approval, 100% of the purchase price may be included in the loan. Where the total loan amount requested is not approved, borrowers will need to make a downpayment to reduce the amount to the approved limit.

The same credit facilities can be used to fund standard and custom equipment models. Lenders assess the machinery as part of the application assessment process. Any variations in terms, and conditions for custom models is subject to individual lender guidelines.