Fit-out finance for shops, cafés, clinics and offices.

Fit-out finance funds the works needed to open or refurbish a site: joinery, counters and benches, flooring, lighting, partitions, plumbing and electrical, signage, air conditioning and the removable equipment such as kitchen gear, chairs, refrigeration and IT. Lenders treat the removable equipment and the fixed building works differently, so the two are usually funded on separate structures under one arrangement, each priced correctly.

Yes. Lenders want the lease, including options, to run at least as long as the loan term, and preferably longer, because the fit-out is only valuable while you occupy the premises. A five-year fit-out loan on a three-year lease with no options is hard to fund. Securing the lease term or options before finalising the fit-out budget makes the application straightforward.

Yes, particularly for franchise sites, professional practices and experienced operators opening a new venue. Lenders look at the operator’s background, the business plan and cash flow forecast, the lease and the contribution. The equipment portion is often the easiest part to fund for a new business because the equipment is the security. Your broker packages the fit-out with any franchise or working capital finance so the site opens on time.

Three to ten business days for most applications, longer where property security is involved. Because fit-outs run on a construction timetable, start the finance conversation once you have the shopfitter’s quote and the lease, so approval is in place before the deposit is due and progress payments can be made on time.

Yes, and it is usually best arranged as a package. The fit-out is often funded by a business loan or fit-out finance, the equipment by a chattel mortgage or lease secured on the equipment itself, and the franchise fee and working capital by the main loan. Structuring it this way keeps each part on the cheapest available terms. Lyft Money arranges the parts together so settlement lines up with the franchisor’s opening timetable.

Yes. Lenders regularly fund new practices for registered practitioners with a track record as an employee or associate, because the profession itself gives them confidence. A business plan, the lease on the premises and evidence of qualifications are the main requirements, and the fit-out, equipment and working capital can be funded together as a package so the practice opens fully equipped.

Because removable equipment can be repossessed and resold, lenders finance it as a normal asset with the equipment as security, at asset finance rates. Fixed works such as joinery and flooring become part of the landlord’s building and have no resale value, so they are funded as a business loan against the strength of the business, sometimes with a director’s guarantee or other security. Splitting the two keeps the equipment portion cheap and makes the fixed portion fundable.

Fit-out finance commonly ranges from $20,000 to $1.5 million. The equipment portion can usually be funded at 100 per cent of the invoice. The fixed works portion depends on the business: established businesses with financials can fund most of it, while new businesses are typically asked to contribute 20 to 40 per cent or offer security. Landlord contributions, common in shopping centres, reduce what needs to be borrowed.

Most lenders pay the shopfitter or suppliers directly against invoices, and some can fund progress payments as the build proceeds so you are not out of pocket. A deposit to the shopfitter is often required before works start, which can be funded or contributed by you. Your broker sets up the payment schedule with the lender to match the shopfitter’s contract.

Sometimes. Equipment bought in the last few months can often be refinanced with a sale-and-leaseback, releasing the cash back into the business. Fixed works already paid for are harder to refinance because there is no asset to secure, though a business loan can be considered for an established business. It is usually cheaper to arrange the finance before paying, so speak to your broker before the build starts.