Asset Finance

Whether you need to fund a commercial vehicle, machinery, medical equipment, or a business fit-out, asset finance lets your business acquire what it needs without tying up working capital. You keep your cash reserves intact while putting the asset to work immediately.

At Providence Finance Hub, asset finance is one of our highest-volume product areas. With 20+ years of experience and access to 50+ lenders on our standard panel – plus 120+ private and international lenders for complex or high-value transactions – we find the right structure and lender for every asset type and business profile.

What Is Asset Finance?

Asset finance is a form of business lending where the asset itself acts as security for the loan. Rather than paying cash upfront or drawing down a general business overdraft, you use a structured facility to acquire the asset and repay the cost over an agreed term – typically 1 to 7 years. The lender holds an interest in the asset until the loan is fully repaid.

Asset finance is available for both new and used assets, and can be structured in several different ways depending on your accounting treatment, tax position, and preference for ownership at the end of the term.

Asset Finance Structures

Chattel Mortgage

The most common structure for Australian businesses. Your business takes ownership of the asset from day one while the lender holds a mortgage over it as security. Interest and depreciation are tax-deductible, and you can claim the full GST upfront on your next BAS. Repayments are fixed with an optional balloon at the end of the term.

Finance Lease

The lender owns the asset and leases it to your business for the term. At the end, you can purchase the asset for a residual amount, renew the lease, or return it. Lease payments are fully tax-deductible as an operating expense. Suited to businesses that want to regularly upgrade to newer equipment.

Operating Lease

Similar to a finance lease but structured so the lender retains the residual risk. Payments are off-balance-sheet, improving your financial ratios. Suited to businesses that want flexibility to return equipment at the end of the term.

Hire Purchase

Your business hires the asset and takes ownership when the final payment is made. Similar tax benefits to chattel mortgage. Suited to businesses that want full ownership at the end of the term.

Sale and Leaseback

If you already own an asset outright, you can sell it to a lender and immediately lease it back – releasing the equity as working capital while continuing to use the asset in your business.

What Can Be Financed?

We arrange asset finance across a wide range of asset classes including commercial vehicles, trucks, trailers, forklifts, excavators, earthmoving equipment, manufacturing machinery, CNC machines, medical and dental equipment, agricultural equipment, technology infrastructure, hospitality equipment, and business fit-outs. If the asset has a serial number and identifiable resale value, it can generally be financed.

No-Doc and Low-Doc Asset Finance

For GST-registered businesses, no-doc asset finance is available up to $500,000 without requiring financial statements, tax returns, or profit and loss accounts. Approval is typically issued within 3 to 24 business hours for clean applications. Low-doc options using BAS statements or bank statements are available for larger amounts or more complex profiles.

The Asset Finance Process

1. Tell us what you need: The asset type, value, new or used, and your timeline.
2. Lender matching: We identify the lenders on our panel most likely to approve your application at the best rate.
3. Application preparation: We prepare and submit a complete, well-packaged application on your behalf.
4. Approval: 3 to 24 hours for no-doc; 2 to 5 business days for full-doc.
5. Settlement: Funds released directly to the vendor, dealer, or auction house.

Frequently Asked Questions

What is a chattel mortgage and how does it work?

A chattel mortgage is the most common asset finance structure for Australian businesses. Your business takes ownership of the asset from day one while the lender holds a mortgage over it as security. Interest and depreciation are tax-deductible, and you can claim the full GST on your next BAS. Repayments are fixed with an optional balloon at the end of term.

Can I get asset finance without financial statements?

Yes. For GST-registered businesses, no-doc asset finance is available up to $500,000 without financial statements or tax returns. Approval typically takes 3 to 24 business hours for clean applications. Providence Finance Hub specialises in no-doc and low-doc asset finance across 50+ lenders.

Can I finance a used or second-hand asset?

Yes. Most lenders will consider used asset finance subject to the asset’s age, condition, and resale value. Some lenders have age restrictions and may require an independent valuation for higher-value items. We identify which lenders will accept your specific asset before you apply.

What is a balloon payment?

A balloon payment is a lump sum deferred to the end of the loan term. Including a balloon reduces your monthly repayments during the term. At the end, you can pay the balloon, refinance it, or sell the asset and use the proceeds to clear it. We model both options so you can decide based on your cash flow needs.

Do I need a deposit for asset finance?

Many asset finance facilities are structured with no deposit – the full purchase price is financed. In some cases, particularly for older assets or borrowers with limited credit history, a deposit of 10 to 20% may be required. We advise on deposit requirements before you apply.

How quickly can I get approved?

For no-doc applications under $500,000 with a clean credit profile, approval is typically issued within 3 to 24 business hours. Full-doc applications generally take 2 to 5 business days. Settlement can usually be arranged within 24 to 48 hours of approval.

Why Choose Providence Finance Hub?

• 20+ years of asset and equipment finance experience
• 50+ lenders on our standard panel, including dedicated asset finance lenders
• 120+ private and international lenders for complex or high-value transactions
• No-doc approvals up to $500,000 for eligible GST-registered businesses
• 3 to 24 hour approvals for clean no-doc applications
• All asset types and industries – vehicles, plant, equipment, medical, agricultural, technology
• Australia-wide service across Australia