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Equipment Line

A revolving facility enabling equipment and fitout purchases to be paid in instalments over 5 years
  • Limits are written based on the strength of business rather than the asset
  • Purchase any business equipment , without the need for applications or credit score checks each time
  • Upload invoice for direct payment to suppliers
Features
  • Simple settlement on purchases, only the invoice needs to be uploaded to Shift Online
  • Can be used for multiple purchases up to the account limit
  • Available balance increases as repayments are made
  • 5-year term per transaction on all equipment
  • No age or class restrictions for any equipment
  • No establishment fees
  • Can be used with any authorised supplier (excludes capital raises)
  • No caps on soft costs for fitouts
Fitout
Customers may allocate a sub-limit (minimum of $25,000) within their Equipment Line to use for a fitout. The sub-limit enables a period of 120 days so that customers can upload and pay invoices. Within this period interest is capitalised with no repayments necessary. At the end of the 120 days the balance is set to repay monthly over 5 years.

Pricing and commissions

Annual Turnover
> $10m
$1.5m - $10m
$250k - $1.5m
Interest Rate (APR)
13.95%
15.95%
16.95%
Commission (incl. GST)
3.3%
4.4%
4.4%

Policy Overview

Revolving facility
Requires continuous bank link
Credit
Clean credit history
No dishonoured payments
Cashflow lenders by exception
Annual turnover
$250,000 +
Minimum guarantor Equifax score
550
Time in business
2+ years
Maximum limit asset backed
$500,000 connected bank link
Applications considered up to $1 million (see documentation section)
Maximum limit non-asset backed
$100,000
Minimum transaction amount
$2,000
Repayment frequency
Monthly in advance
Asset Type
No age or class restrictions

Documentation

Applications with exposure up to $500,000

Completed application on Shift Connect

6-months bank statements
(all business-related accounts)
Copy of trust deed
(if applicable)
Additional documentation for applications with exposure over $500,000
Up-to-date financial statements
(including ages AP & AR)
Copy of ATO portal

Typical loan uses

Equipment purchases

  • Catering and hospitality equipment
  • Solar, Technology, Telephony equipment
  • Gym equipment
  • POS systems
  • AV equipment
  • Aged assets
  • Any other asset

Fitout purchases

  • Professionals: Medical, Accountant, Financial Planner and other professional services offices
  • Retail: Cafes, restaurants, shops
  • Industrial: Factories, scaffolding, offices
  • Any other fitout requirements

Restricted sectors: Property Development, Mining Exploration/Services and Primary Agriculture (Farms). To discuss options for clients in these sectors, please contact broker support on 1300 249 649 (option 1). Additional documents may be requested at the discretion of the credit officer.