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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.

Asset Import 

Customers can purchase assets from overseas and pay international suppliers directly. Features include staged progress payments, support for ancillary import costs, and a path to convert Primary and Secondary assets to Asset Finance for a sharper rate once the asset lands. 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. Learn more.

Pricing and commissions

Our published customer rate is inclusive of the maximum broker commission, which is paid upfront.

Annual Turnover
> $10m
$1.5m–$10m
$250k–$1.5m

Broker Commission (incl. GST)

4%

17.95%

4%

Customer Rate (incl. commission)

11.95% p.a.

14.95% p.a.

16.95% p.a.

Brokers can adjust their commission in Shift Connect. Commission range: 0.5% to the commission rate specified above incl. GST. Lower commission reduces the customer’s rate and monthly repayment.

You now have the option to reduce your commissions in Shift Connect. Commission range: 0.5% – 4.4% incl GST

Policy overview

Revolving facility

Requires continuous bank link

Revolving facility

  • Clean credit history

  • No dishonoured payments

  • Cashflow lenders by exception

Annual turnover

$250,000 +

Minimum director Equifax score

550 (2.0 Comprehensive score)

Time in business

2+ years

Maximum limit asset backed

  • $500,000 connected bank link

  • Applications considered up to $2 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 $500,00

  • 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

  • Additional documentation for applications with exposure over $500,000

  • For limits up to $1m with a first mortgage, second mortgage or caveat, financial statements and ALLPAAP are not required.

  • For limits >$1m, up-to-date financial statements are required.

    (including aged 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.