Can a New Business Get Equipment Finance?
Yes — new businesses can access equipment finance in Australia, though the options and terms vary depending on how new the business is, the type of equipment, and the applicant's personal financial history.
Many lenders have specific low doc and new ABN pathways designed for start-up and early-stage businesses. The key factors they assess are the asset's resale value, the applicant's personal credit profile, and the business's ability to demonstrate income — even if that income is recent or seasonal.
Good news for new operators: Equipment with strong resale markets — popular utes, excavators from established brands, forklifts — is significantly easier to finance than highly specialised or bespoke assets.
What Lenders Look for in New Business Applications
When a new business applies for equipment finance, lenders typically assess the ABN registration date and GST status, the applicant's personal credit history and any existing liabilities, the asset being financed including its age, brand and market value, and evidence of business income — even if only recent bank statements showing deposits.
Some lenders will also consider signed contracts or letters of intent as evidence of future income, which can be particularly useful for new civil contractors, tradies starting their own operation, or new transport operators with work already lined up.
Day One ABN Finance
Day one ABN finance — lending to businesses registered for less than 30 days — is available through specialist lenders for certain asset types. New utes, popular van models and well-known compact equipment brands are most commonly approved at day one because their resale values give lenders confidence that their security is sound even if the business does not perform as expected.
How to Strengthen a New Business Application
There are several practical steps that can improve your chances of approval. Register for GST if you are approaching or over the threshold — it signals a business of scale. Have 3 to 6 months of bank statements showing regular income. Identify the specific asset you want with full details including make, model, age and price. And if you have signed work contracts or client agreements, have these ready to provide.
New Business Looking for Equipment Finance?
We connect new and early-stage businesses with specialist brokers who understand low doc and new ABN lending. Free enquiry.
Get a Free Quote →Using a Broker vs Going Direct
For new businesses especially, using a specialist asset finance broker is strongly recommended over approaching a bank directly. Banks typically apply stricter criteria to new businesses. Specialist non-bank lenders are often much more flexible — and brokers know exactly which lenders are actively looking for new ABN business at any given time. One broker application accesses many lenders simultaneously, without shotgun-applying and damaging your credit file.