How to Get Equipment Finance When You're Just Starting Out
Starting your own business is a big step, and when you need equipment, machinery or tools to start earning, finance often becomes the first major hurdle. For many new business owners, the most common question is: can I get equipment finance if I’ve only just started?
The answer is yes – it’s possible. But lenders will want to understand your experience, your business plan, your cash position, and how ready you are to start trading.
At Equipment Finance Specialist, part of the eCarz Group, we help business owners across Australia access tailored finance for machinery, tools, earthmoving equipment, trailers, forklifts, agricultural equipment and more. Here’s what lenders typically look for when assessing start-up equipment finance applications.
1. Industry Experience
- When it comes to start-up finance, your background matters just as much as your balance sheet.
Lenders look favourably on applicants who have hands-on experience in the industry they’re entering. It signals that you understand the work, know how to operate the equipment, and can realistically generate income from day one.
Common examples include:
• A tradie buying their first excavator or skid steer
• A contractor purchasing a concrete pump, scaffolding, or laser level
• A farmer financing a tractor, header, or irrigation system
• A transport operator buying a trailer or a forklift
• A landscaper or earthmover acquiring their first machine
• A printer, baker or manufacturer investing in production equipment
2. A Clear Business Plan
A well-prepared business plan shows lenders that you’ve thought through how your equipment will generate income and how loan repayments will be managed.
Your plan may cover:
• What your business does and who your customers are
• What equipment you’re financing and why
• How the equipment will be used to generate revenue
• Your expected income and key expenses
• Cash flow forecasts — ideally prepared by an accountant
• Your pricing structure, contract rates or job quotes
• Your growth plan and target clients
3. Confirmed Work or Contracts
One of the strongest things a new business can show a lender is that income is already lined up.
If you have customers, subcontractor agreements or project work ready to go, lenders can see that your equipment will be earning from the start.
Useful supporting documents include:
• Signed contracts or subcontractor agreements
• Letters of intent from clients
• Accepted quotes or confirmed job bookings
• Supplier or work provider agreements
• Evidence of recurring or seasonal work
4. A Financial Buffer
Starting a business rarely goes exactly to plan. Unexpected costs come up — repairs, insurance, registration, fuel, materials, delayed payments. Having savings or available capital in reserve tells lenders that you’re not financially exposed from day one. It also shows that you’re not relying solely on the equipment generating income in the first week to cover all your costs. A financial buffer gives lenders confidence, and gives you breathing room as a business owner.
5. Security or Additional Assets
Offering security can reduce the lender’s risk and improve your chances of approval – or open up access to more competitive finance options.
Security doesn’t always have to be property. Depending on your situation and the lender, it may include:
• Property or home equity
• An unencumbered vehicle or trailer
• Other machinery or equipment you already own
• Assets on wheels or tracks
Can a Start-Up Business Get Equipment Finance?
Yes – start-up businesses can apply for equipment finance, machinery finance and asset finance in Australia.
The key is presenting the application properly. Lenders will generally want to understand:
• Your industry experience and background
• What equipment you’re purchasing and what it does
• How the equipment will generate income
• Whether you have work or contracts in place
• Your cash flow position and available savings
• Any deposit or contribution you can make
• Security available to support the application
• Your overall credit profile
How Equipment Finance Specialist Can Help
At Equipment Finance Specialist, part of the eCarz Group, we work for you — not the bank.
We help Australian business owners access tailored finance options for machinery, earthmoving equipment, trailers, agricultural equipment, forklifts, manufacturing equipment, and a wide range of commercial assets.
Whether you’re just starting out, taking on your first contract, or expanding your existing fleet, we can help you understand what lenders are looking for and guide you through the process from start to finish.
If you have industry experience, a business plan, work lined up, savings, security — or even just a clear goal and a piece of equipment in mind — speak with us before you apply.
We’ve helped hundreds of business owners across Australia secure the right equipment finance to start and grow their business.