Can a Startup Get Equipment Finance?

Yes. Startups can and regularly do get equipment finance in Australia, even without two years of financials. Because equipment finance is secured by the asset itself, lenders assess the machine or vehicle as much as the business behind it. A well-priced, resaleable asset — an excavator, truck, trailer, commercial oven or medical device — gives the lender a clear recovery position, which opens doors that unsecured lending would not.

For a business trading under 12 months, lenders typically look at four things: the director's credit file and asset position (property ownership is a strong signal), industry experience in the same field, the size of any deposit, and whether the asset is standard or specialised. Many asset lenders will approve a startup at low doc level up to roughly $150,000 where the director owns property and has relevant experience. Without property backing, expect a deposit of 10–20 per cent, a slightly higher rate, or a request for a short trading history and BAS statements.

Practical steps that improve approval odds: buy through a reputable dealer rather than a private sale, keep the term matched to the asset's useful life, provide a simple cash-flow forecast showing how the equipment generates revenue, and avoid multiple credit enquiries by going through one broker who knows which lenders have a genuine startup appetite.

A Lonix broker can compare startup-friendly asset lenders across our panel and structure the deal so the first approval is the right one.