Finance question
How fast can equipment finance be approved in Australia?
Most low-doc and no-doc equipment deals under $500,000 are approved in 24 to 48 hours, and a clean application can get a same-day answer. The speed comes from securing against the asset instead of underwriting your financials.
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The short answer
Fast because there is nothing to wait on
There are no financials to compile and no analyst reading two years of returns. The lender assesses the asset, your ABN and your credit, and decides. Have the supplier invoice ready and the deal can move from submission to approval inside a day.
Approval and settlement are two separate steps. You can be approved the same day, then settle once the supplier and paperwork are ready, which is often the following day.
A few things speed it up: a supplier invoice on hand, your ABN and ID ready, and clean recent credit. A few things slow it down: private-sale purchases, complex company structures, past defaults that need explaining, and deals near the $500,000 ceiling.
What speeds it up
Have these ready and the deal moves in a day.
The supplier invoice
A dealer invoice on hand is the single biggest accelerator.
ABN and ID ready
The basics verified up front save a round trip.
Clean recent credit
A clear profile means fewer questions before a yes.
A dealer sale
Dealer purchases verify faster than private sales.
Why it is faster than a bank
No financials to read
The asset secures the deal, so there is no two-year financial review to sit through.
One decision, one lender
We take it straight to the lender most likely to fund it, rather than queuing behind a bank's process.
Approval then settlement
You get an answer fast, then settle as soon as the supplier paperwork is ready.
A real example
A cafe owner finds a used commercial oven on a Tuesday morning and does not want to lose it. Invoice in by 10am, no-doc application submitted, approved that afternoon, settled with the supplier the next day. Illustrative only.
Common questions
Frequently asked questions
Can I settle the same day I am approved?
Sometimes, if the supplier and paperwork are ready. Approval and settlement are separate steps.
Does bad credit slow it down?
It can add a day while we place you with the right lender, but it does not automatically stop the deal.
Is a private sale slower than a dealer?
Usually yes, private sales need extra verification of the seller and the asset.
What is the fastest realistic turnaround?
A clean, dealer-sourced, no-doc deal with the invoice ready can be approved the same day.