Equipment loan · New businesses under 12 months
Equipment loan for new businesses under 12 months
New businesses trading under 12 months have fewer lender options, but equipment finance secured by the asset and small unsecured loans from 6 months of trading are available on our panel.
How an equipment loan works for new businesses under 12 months
For a new business the asset does the heavy lifting: lenders are more comfortable funding a ute or machine they can secure than an open-ended cash loan, and property ownership by the director widens the panel.
The cash-flow pattern we plan around
Uneven early revenue while a customer base builds.
What new businesses under 12 months typically fund
- First vehicle or equipment
- Initial stock
- Working capital while invoices ramp up
Equipment loan for new businesses under 12 months: the numbers
| Typical amounts | $5,000 – $5,000,000 |
|---|---|
| Term | 12–84 months |
| Indicative rates | 6.9% – 16% p.a. |
| Repayments | Monthly |
| Speed | Same day to 48 hours for low-doc |
| Documents new businesses under 12 months usually need | ABN and GST registration · All bank statements since trading started · Evidence of contracts or bookings |
Rates are indicative, change without notice and depend on the lender, product, asset, term and your credit profile at the time of application. They are not an offer of finance. Comparison rates, where shown, are true only for the example given.
Key terms
Business loans for new businesses
Business loans for new businesses are typically limited to asset-backed equipment finance or small unsecured loans once 6 months of trading and consistent deposits are visible. Startups with no trading history are usually assessed on the director’s personal position.
What is equipment finance?
Equipment finance is any loan or lease used to acquire business equipment, with the equipment typically serving as security. The main structures in Australia are chattel mortgages, finance leases and rentals.
Low-doc equipment finance
Low-doc equipment finance approves smaller amounts (often up to $150,000–$250,000) without full financials, relying on ABN age, GST registration, credit history and sometimes a property-owner declaration.
Questions from new businesses under 12 months
Am I eligible for an unsecured business loan?
We compare options for Australian businesses. Lenders look at factors such as trading time, turnover, cash flow, credit history and the amount you need. Tell us about your business and we will explain which options may fit. There is no single minimum that applies across every lender on our panel.
I have just gone out on my own. Can I still get finance?
Usually, yes. Lenders look at your trade experience as an employee or subcontractor, a deposit or property ownership and your credit history when the ABN is new, and several specialise in funding new tradie businesses for a ute and tools. The first purchase is often the vehicle, financed on low documentation, with working capital added once six months of trading shows in the bank statements. Lyft Money checks fit across the panel so you are not declined for being new.
Can a business under 12 months old get finance?
Yes, from a smaller group of lenders. Equipment and vehicle finance secured by the asset is the most accessible, usually with a deposit of 10 to 20 per cent, a clean personal credit file and evidence of work or a trade background. Small unsecured loans are available from about six months of trading on bank statements.
What helps a start-up application?
A deposit, a clean personal credit file, industry experience, signed contracts or a work pipeline, a business plan for larger amounts and clean personal banking. Buying a used asset within age limits keeps the amount and the deposit modest. A broker matches you to the lenders that back new ABNs.
Can I get a start-up loan without an asset?
Unsecured lending to businesses under six months is limited, so many start-ups use a personal loan, a secured loan against property or a guarantor while trading history builds. Once six to twelve months of bank statements exist, unsecured business loans and lines of credit open up. Lyft Money advises on the sequence.
Will I pay more as a new business?
Usually a little, because lenders price for the shorter track record, and a deposit is often required. Asset-secured finance is the cheapest route. Many new businesses refinance to sharper terms after two years of trading, so a start-up facility is a stepping stone rather than a permanent cost.