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Why choose Westpac

Faster funding

Receive approved funds within 1 business day*

Flexible repayment options

Choose your loan term and repayment frequency

Competitive fees and rates

$0 monthly fees and rates tailored to your circumstances#

About business equipment loans

Also known as equipment finance or chattel mortgage, a business equipment loan can help you own equipment without needing to pay the purchase price upfront. This type of business finance could help smooth out your cash flow via monthly repayments over an agreed period.

At a glance 

  • Borrow from $15k 
  • Covers new or used equipment e.g. agriculture and farm, commercial kitchen or dental equipment
  • Loan is secured by the equipment
  • 1-7 year loan term


Receive approved funds within 1 business day*

Faster funding to meet your business vehicle and equipment needs.

Get a quote in minutes or enquire now to leave your details and receive a callback from a business lending specialist.

Eligibility criteria, rates & fees

Eligibility criteria

  • Your business is based, registered and operating in Australia  
  • The equipment is fully or mostly used for business purposes

Rates & fees

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Frequently asked questions

A balloon payment is a lump sum paid at the end of your loan term. Calculated as a percentage of your total business equipment loan, the payment is called a ‘balloon’ because the amount is typically larger than your regular loan repayments. A balloon payment could help you get the equipment that your business needs while freeing up your cash flow via lower monthly repayments. However, you’ll pay more interest over the loan term. Without a balloon payment, your monthly repayments will be higher and you’ll pay less interest, but won’t need to pay a lump sum at the end of the loan term.

Things you should know

Eligibility, credit criteria, fees, charges, terms and conditions apply.  


*For applications that meet the following criteria:

  • New customers who borrow up to $150k and existing customers who borrow up to $250k
  • New customers must own residential property
  • The business has been trading for 2 years or more  
  • The business has a valid ABN and is registered for GST
  • The vehicle or equipment is 5 years old or less
  • Customers must have an acceptable credit history and must not have outstanding statutory payments  


Applications for vehicle and equipment finance are subject to the Bank's normal lending criteria.


#Interest rates depend on factors such as the type, age and useful life of the equipment you’re purchasing, and the terms of the finance agreement.


The taxation position described on this page is general in nature and does not take into account your personal circumstances. It does not constitute tax advice or a guide to tax legislation. You should consult a professional, independent tax advisor to determine tax implications relevant to your circumstances.