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BDM DirectoryEquipment Line
A better way for businesses to import assetsImporting assets is now simpler with an Equipment Line. Finance the entire journey of any imported asset, with no repayments required for the first 120 days while waiting for the asset to arrive.
New
Equipment Line feature
Purchase any business-use equipment
Fitout or renovate a commercial premises
Import assets from overseas
It can be difficult to finance and import overseas assets due to the complex steps and paperwork normally required.
The new Asset Import feature, now available through an Equipment Line, streamlines this process for businesses so they can finance and import assets with more ease.
Key benefits
- The ability to finance the asset and all costs associated with the import
- A digital experience, with minimal documentation and checks required
- No repayments for the first 120 days while waiting for assets to arrive, followed by a 5-year repayment term
- Access to funds for purchases from over 50 countries, with competitive exchange rates
How it works
Our digital-first solution makes accessing funding to import assets simpler.
To get started, log into Shift Connect, select your customer, apply for Equipment Line and then select the ‘+New import’ button.
Overview of the Asset Import process.
Please contact us to learn more.
- Apply for an Equipment Line for your customer via Shift Connect
- Equipment Line approval steps and customer agreement completed
- Create new import, create import budget and add invoices
- Complete some additional items based on your customer’s import scenario
- Notify Shift 30 days prior to the expected asset arrival
- Final import and conversion processes are completed. Repayments commence after 120 days.
Customers can easily view and manager their repayments in Shift Online
FAQs
Who is eligible to import assets?
Any business that meets Shift’s standard lending and credit criteria for Equipment Line and/or Chattel Mortgage. Funding is available from $2,000 to $1 million.
What type of assets can be imported?
All Primary, Secondary and Tertiary assets can be considered. The facility also supports staged domestic payments on locally built assets.
Who is responsible for supplier checks?
It’s ultimately the customers responsibility to perform their own due diligence prior to agreeing and signing terms with any supplier. Shift provides finance and facilitating payment on behalf of your customer only. Shift is not responsible for the asset, its delivery, or its condition – this responsibility remains between the supplier and the customer.
When are payments required?
All customer payments are deferred for up to 120 days during the Asset Import phase. Standard Equipment Line rates apply to the Asset Import, please refer to Shift’s Broker Product Guide for further information.
What happens when the asset arrives in Australia?
Once the asset arrives in Australia or the local build is completed, the facility may transition to an Asset Finance Chattel Mortgage, depending on the asset type. Evidence of asset arrival to Australia and customs clearance is required. Assets deemed Tertiary or not eligible for Chattel Mortgage will remain on the Equipment Line.
Is insurance required?
Marine/transit insurance is required for imports. Domestic assets should be insured appropriately. The customer is responsible for insuring the asset.