Machinery Finance

Yes, we are a completely free service for all our customers finance needs.

We can finance any machinery across a wide range of industries as highlighted above. Whether its new or used, been sourced through a dealership or from a private seller. We will be able to secure the right solution for you.

This is a very common question that is always essential to ask. We have market leading interest rates that start from 3.29% for Brand New Machinery purchases.

Every customer is different, and all are in a different stage of their business journey. Our biggest commitment at Yakka Finance to you is that we want to look after a business for the lifetime that they are operating. The only way we have a loyal customer is to secure market leading rates for you and make the application process simple and stress free every single time. If our interest rates were high, we would never ever have the number of loyal customers that continually use our services. 

The big advantage for you and your business is because of our volumes and the quality of our application submissions we are offered preferential interest rates that not all finance brokerages can secure. This is a big advantage to our business but also a huge advantage to your business.

There are many factors that can influence the interest rate on a machinery you are purchasing. Here are some key considerations that can influence the rate:

1. How long you have been in business for
2. If you are purchasing a machinery from a Dealer/Supplier or a machinery from a private seller
3. What specific year build the machinery is. For example, brand-new dozer would secure a much lower rate compared to a machinery that has a 2003 year build dozer
4. If you or your spouse is a property owner or if you are currently renting
5. Your Machinery loan Amount. In some instances, the higher the Machinery loan amount the lower the interest rate with some banks.
6. If you have had machinery finance before and if your repayment history has been good or bad
7. If you have a clean credit file or a bad credit file

Yes, we have a huge variety of Low Doc Finance solutions for your machinery. Low Doc Machinery finance means we only need a very small amount of information to secure your Machinery finance approval. Most of the time with no proof of earnings or profits. Our specialists can run you through how easy it is to secure a low doc machinery finance approval over the phone in 5 minutes. Low Doc approvals can go up to $500k on Machinery finance.

Yes, we can finance machinery no matter how old the year build on that machinery is. So, the answer if you wanted to finance Machinery with the year build being 1985 Caterpillar D11 Dozer the answer is… yes, we can finance it. The answer is always yes.

Every machinery finance application will differ depending on your current situation. It’ encompasses how long your business has been operating and is performing, the machinery you are purchasing & the amount you are looking to borrow. Once we have a five-minute phone call, we will run you through the key items we need, which in some cases is very little. Please don’t feel you need to give us everything but the kitchen sink like a bank manager would as this is simply not the case and you can still secure the exact same rates. We strategically know exactly how to secure your finance approval with the right documents.

Yes, we have a large variety of banks that will give you a machinery loan approval without having to put your own businesses cash reserves as a deposit into the purchase. Most banks do not require a deposit.

Yes, we have a wide variety of items we can use to secure your Machinery loan approvals without the need for completed financials and the finance approval can still be with a major bank without financials. Some Machinery Finance approvals require very little documentation. Some other key items we can utilise include BAS Statements or Bank Statements just to name a few examples.

We fully understand that what happens in the past doesn’t dictate where you are now. With most of our clients if they get a Credit Default on their file there is normally a good reason behind the default and why it’s there.

Some of our customers are just unlucky with Energy Bills when they change their address, of have had a dispute on a Phone Bill where they were charged to much by their phone provider. These are all very common and banks have a good understanding of this.

We always get an understanding of why your Credit Rating is below the average and then effectively communicate to the appropriate bank as to why it’s there and banks are still very comfortable on getting you machinery loans approved when there is a story around the Credit default. Have comfort that we know how to communicate to the right banks or lenders your story on the Credit Default to get you an approval even with a default on your credit file. In addition, we have a great team we utilise to actually lift the Credit Default off your file for you.

Yes, buying machinery from a Private Seller is very common and we do it all the time. We will handle the whole entire process with the private seller for you and organise them getting paid by the financier we go through for your machinery loan.

Yes, we can arrange Machinery Insurance for you with our preferred insurance providers.

Although we are more than happy for you to go to your bank to obtain your machinery finance, we know that it almost always doesn’t deliver the best or same outcome for your business. We know our process compared to a banks process is completely different and in a good way. Here are some key reasons why:

1. You could end up going to the wrong bank who would charge you a much higher interest rate and make you jump through a lot more hoops to secure your Machinery finance approval. We know the banking landscape very well and once we get an understanding of your business and what machinery you are purchasing; we will then take you to the most appropriate bank to secure your approval with ease.
2. It’s so important to spread your machinery loans across multiple banks. Why? It means that one bank never owns your business and instead we have multiple banks fighting for your business instead. This keeps competition high and interest rates low and lets you dictate how you run your business and not the other way round. It is not smart to have all your loans with the one bank.
3. One bank will have a better interest rate than another bank depending on what Machinery you are purchasing. Our knowledge across all lenders can save you a lot of time here.
4. You will spend a lot more of your own time and efforts putting an application together from the bank and have no idea if you will get an approval. Banks will make you do a lot of the work. When we go to a bank, we are already 99% sure they will approve your machinery loan and have presented it the correct way to that specific bank.
5. With Yakka Finance you will always have one point of contact for every equipment purchase you do. Bank Managers are always changing roles in the banks. You might have a great bank manager for one year and then they move on, and you have to build a new relationship with another bank manager that might not understand your business or industry at all. At Yakka we are not going anywhere and are here to have a strong relationship with your business long term on every machine you purchase.