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Defer your Equipment Finance payments

Capital Finance Australia Limited ABN 23 069 663 136 (“CFAL”) is a wholly owned subsidiary of Westpac Banking Corporation ABN 33 007 457 141 (“Westpac”).  Westpac does not guarantee or provide financial support to CFAL.

Capital Finance Australia Limited has introduced a number of measures to help our business customers manage the impacts of COVID-19. If you wish to defer payments on your equipment finance facility/ies please complete and submit this request form.

Has your business been directly impacted by COVID-19?

Do you want your payments deferred for 6 months?

Do you understand that interest deferred will be capitalised and this will extend the term of your facility for 6 months?

Are you authorised to answer and have advised all parties (including guarantors) of this change?

Unfortunately we are not able to proceed because you haven’t met the eligibility criteria for the business payment deferral support package.

If you answered ‘Yes’ to these questions and you satisfy the following eligibility criteria, payments to your loan accounts will be deferred for 6 months from the date this application is made.

The deferred payment period applies to eligible business connections impacted by COVID-19:

- with total exposure of less than $10 million per customer group;

- where the business is operated in Australia with less than 20% foreign ownership; and

- for those customer’s above $3 million total business exposure, with current facilities that have not been in arrears in the last 90 days.



Please confirm that you have read, understood and agree with and where the following declare the following:

- The payment deferral will be applied to all of your eligible Business vehicle loan and equipment finance facilities with Capital Finance. This includes all eligible Business Lending Products for you and any Businesses linked to your customer profile (for example where you might be a director of an entity or partner of a partnership being the eligible small business).

- Please note that the interest deferred will be capitalised^ and your loan term will be extended at the same fixed rate by at least 6 months. Any current fixed rate period will also be extended by 6 months.

- Once your deferred payment application has been processed, you will receive a confirmation email. If there is part of the email you do not understand or do not believe you agreed to, please contact us as soon as you can. This arrangement is an exception to the usual terms and conditions that apply to your facility. If you have an event of default (for example, you become insolvent) the events of default conditions of your contract continue to apply. Where we initiate Direct Debit payment to the account, we will attempt to cancel these, please advise us as soon as possible if payments continue to occur, so that we can rectify this promptly. Please note, if we do a Direct Debit after you have opted-in to the offer, we will refund it. Where payments are initiated by other institutions (eg. by direct credit from another financial institution or by direct credit from an employer), you need to cancel these to stop further repayments being made. We will endeavour to return these funds, if this isn’t possible we will apply to your loan balance.

- If you nominate a facility for the deferred interest period and you meet our eligibility criteria and the facility is subject to a fixed-rate period, the fixed-rate period will be extended by the deferred payment period. If you terminate your facility during the deferred payment period, termination fees, break fees, and applicable loan charges will become payable.

- Where there are other borrowers (such as other directors, partnership partners, beneficiaries) and guarantors associated with the loans, you confirm that you have authority to act on their behalf.

^ For Equipment Finance facilities and loans only, instalments will be deferred and finance charges will still apply over the deferred period.  Instalments will be recalculated at the end of the deferral payment period and will include finance charges.


Thank you for your application.

We are committed to supporting your business as the COVID-19 situation evolves, and we’re here to help you and your business through this challenging time. 

What happens next?

We’ve received a high volume of applications and appreciate your patience. We are reviewing your application as quickly as possible and will confirm whether your application has been accepted. 


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Important information

The payment deferral will be applied to all your eligible facilities with Capital Finance. This includes all eligible equipment finance products for you and any businesses linked to your customer profile (for example, where you might be a director of the small business).

The terms and conditions of your equipment finance facilities will continue to apply, including events of default outlined in our contract.