Best Equipment Finance for Australian Tradies (2026)
You need a compressor. Or a new trailer. Or a $40,000 ute that doesn't embarrass you pulling up to a site. Draining your cash account to buy equipment outright is usually the wrong move — it ties up capital you need for materials and wages. Equipment finance exists precisely for this. Here's who does it best for Australian tradies.
By Benjy @ Tradie Scaler
⚠️ General financial information only. Interest rates, approval criteria, and product features change frequently. This content does not constitute personal financial advice. Speak with a licensed finance broker before entering any credit agreement. Full disclaimer.
How Equipment Finance Actually Works
Equipment finance is asset-secured lending. The equipment you're buying serves as the security for the loan, which is why:
- Approvals are faster than unsecured business loans
- Deposits are lower (often 10–20%)
- ABN age requirements are less strict
- Rates are typically lower than working capital loans
The two most common structures for tradies:
- Chattel mortgage — you own the asset immediately, the lender holds a mortgage over it as security. The most common structure for business equipment. GST claim available upfront.
- Finance lease — the lender owns the asset during the lease term; you pay to use it. At the end, you can buy it, extend the lease, or hand it back. Better when you want lower monthly payments or need to replace equipment regularly.
For most tradies buying a ute, trailer, or piece of trade equipment: chattel mortgage is the default. It's straightforward, gives you immediate ownership, and the interest and depreciation are both tax deductible.
The 5 Best Equipment Finance Lenders for Tradies
Fido Finance is built around the tradie and small business market — not as an afterthought, but as its entire business. They understand that a sparky needs a new ute this week, not in 6 weeks after a bank credit committee review. Same-day or next-day approval is standard. Their brokers know the equipment tradie businesses actually need, and they can structure deals around your cash flow.
They work with tradies from 6 months ABN, which is significantly earlier than the major banks (typically 2+ years). Loan amounts typically from $5,000 to $500,000. The application is online and takes under 15 minutes.
Pros
- Built for tradies — understands the market
- Same-day approvals common
- Works from 6-month ABN
- Online application, no branch visits
- Flexible structuring around cash flow
Cons
- Rates higher than major banks for established businesses
- Maximum loan size smaller than institutional lenders
QPF Finance Group is a Queensland-based equipment finance broker that has built a strong reputation in the Australian trades and construction sector. They're a broker, not a direct lender — meaning they shop your application across their panel of 30+ lenders to find the best rate for your situation. This matters because the best available rate for equipment finance varies significantly based on your credit profile, ABN age, asset type, and loan amount.
QPF has particular depth in heavy plant and equipment — excavators, bobcats, elevated work platforms — and they know which lenders are most competitive for specific asset types. For tradies financing trade-specific equipment above $50,000, QPF's broker model often finds better rates than going direct to a single lender.
Get a QPF Quote →Valiant Finance is Australia's largest SME business loan comparison platform with 80+ lenders on their panel. Their equipment finance product lets you submit one application and have it assessed across multiple lenders simultaneously. For tradies who want to know they're getting a competitive rate without calling six different finance companies, Valiant's single-application model is efficient.
The trade-off: Valiant's model works best when you're comparison shopping rather than when you need money urgently. Fido or QPF are faster for same-week settlements.
Compare on Valiant →Macquarie has one of the most competitive equipment finance rate cards in Australia for established businesses with strong financials. If you've been trading for 2+ years, have a clean credit history, and want the lowest rate available — not the fastest approval — Macquarie is worth including in any rate comparison. Approval timelines are longer than specialist lenders (typically 3–7 days) but the rate saving on a $100,000 piece of equipment can be material.
Enquire with Macquarie →Prospa is better known for working capital loans than equipment finance, but their small business loan product can be used for equipment purchases and approvals are among the fastest in the market (often same day). For smaller equipment purchases under $30,000 where you want flexibility in how you use the funds — part equipment, part materials, part cash flow buffer — Prospa's unsecured business loan structure is simpler than a dedicated chattel mortgage. The rate will be higher than secured equipment finance, but the speed and flexibility have genuine value.
Apply with Prospa →Ready to finance equipment? Start with a same-day approval.
Fido Finance specialises in tradie equipment loans and can get you an approval the same day. Online application under 15 minutes.
Apply with Fido Finance →General financial information only — speak with a licensed broker before applying.
Frequently Asked Questions
Fido Finance is consistently rated among the best for tradies specifically — fast approvals, trades expertise, and works from 6-month ABN. QPF Finance Group is excellent for larger or more complex equipment. For established businesses (2+ years ABN) wanting the most competitive rate, Macquarie Equipment Finance is worth including in any comparison.
Yes, in many cases. Fido Finance and QPF Finance work with ABNs from 6 months. Expect higher deposit requirements or rates compared to established businesses. For ABNs under 6 months, a chattel mortgage secured against the equipment is often the most accessible option — the asset itself provides the security.
Almost any business-use equipment: utes, vans, trailers, compressors, generators, scaffolding, laser levels, power tools, work vehicles, and specialised trade equipment. The asset serves as security, which speeds up the approval process compared to unsecured loans. See our equipment finance hub for more on financing specific asset types.
A chattel mortgage means you own the asset immediately and the lender holds a mortgage as security. You can claim GST upfront and depreciate the asset. A finance lease means the lender owns it during the term and you pay to use it — lower monthly payments but no immediate ownership. Chattel mortgage is the default for most tradie equipment purchases because the immediate ownership and GST benefits usually outweigh the slightly higher payments.