Equipment FinancingFast, easy, flexible
Get the tools your business needs with fast and flexible equipment finance. No credit check required to see if you qualify.
- Borrow up to $500K
- Flexible Terms
- Funding possible in hours
A range of funding solutions
Small Business Loan
Same day access to funds to keep business moving.
- From $5K up to $150K
- Easy application and funds available same-day
- Up to 3 year terms
- No upfront security required
Small Business Loan
minimum criteria
- 6 months trading history
- Monthly turnover of $6K
- Business owner must be 18+ years
- Business owner must be an Australian citizen or permanent resident
Business Loan Plus
A larger lump sum to invest in longer term plans.
- From $150K to $500K
- Same day approvals on funding up to $250K
- Up to 5 year terms for lower weekly repayments
- Security may be required for over $150K in Prospa funding
Business Loan Plus
minimum criteria
- 3 years trading history
- Annual turnover of $1M
- Property or asset ownership required over $150K
- Business owner must be 18+ years
- Business owner must be an Australian citizen or permanent resident
Business Line of Credit
Ongoing access to funds to simplify cash flow.
- From $2K up to $500K
- Access funds anytime via the Prospa App
- Only pay interest on what you use
- Security may be required for over $150K in Prospa funding
Business Line of Credit
minimum criteria
- Minimum 2 years trading history
- Monthly turnover of $6K
- Business owner must be 18+ years
- Business owner must be an Australian citizen or permanent resident
Explore funding options for buying commercial equipment
Prospa has helped thousands of small businesses grow and thrive through tailored lending solutions, including small business loans of up to $500K. Our equipment finance options are built to support businesses looking to upgrade existing assets or invest in new ones. Whether it’s farm equipment, construction equipment, or other heavy machinery, choosing the right commercial equipment loan is vital. An equipment loan can provide fast access to funding when it’s needed most.
How we do credit, differently
| Key Features | Prospa Equipment Loan | Traditional Bank Loan |
|---|---|---|
| Speed to Funding | Apply online in minutes with approval possible in 24 hours. | Applications often take days or weeks to process. |
| Equipment Ownership | You own the equipment from day one with no lease or residual structures. | Equipment may be owned by the bank during the loan term, depending on the structure. |
| No Asset Security Required | No security required on loans up to $150,000. | Usually requires security over the equipment or other business assets. |
| Minimal Paperwork | Simple application with just bank statements required. | Extensive documentation such as tax returns and financials often required. |
| Flexible Repayment Options | Weekly repayments tailored to your business cash flow. | Standard repayment terms with limited flexibility. |
Why Prospa? It’s today’s way to borrow.
No more compromising or missed opportunities with Prospa by your side. With hassle-free application, this time tomorrow you could have access to funds for growth and cash flow support. It’s just what we do.
We’re Australia’s #1 online lender to small business.
Flexibility
Support
Confidence
What is equipment finance?
Equipment finance is a loan type many businesses use to purchase new equipment or update capital assets. Equipment loans can be used for large scale capital items, like farm equipment. It can also fund other heavy equipment that your business uses to produce your goods or services. This type of finance is often secured against the value of the asset you are intending to purchase, in much the same way a car loan or a home mortgage works.
Prospa can help you simplify the entire equipment financing process. Our small business loan offers regular repayments that fit with your cash flow. You’ll also have access to a friendly customer service team to help you throughout the process.
We are more than just your average online lender, we have small business at the centre of everything we do. We can help you access a great equipment finance option today, and then help to offer financial support if your business needs more funds to grow.
How to finance heavy equipment?
If you’re looking to purchase heavy equipment, Prospa can help with the finance you need. Heavy equipment includes assets like commercial equipment for kitchens or factories, construction-related machinery, farm machinery and any work-related vehicles.
Heavy equipment can be expensive – which is why a business loan is a great option if you don’t have the funds up front. Prospa offers business loans of up to $500,000. No asset security required upfront to access Prospa funding up to $150,000.
How to finance farm equipment?
Are you a primary producer? We love supporting Aussie farmers. Our business loans have already helped small businesses in the agriculture industry get the funds they need to buy equipment and tools to grow and expand. We can help you access an equipment loan to purchase farm equipment to keep your farming business moving.
How to finance equipment?
Most businesses need to purchase or upgrade equipment from time to time. There are many business finance options available for equipment purchases, including leasing arrangements, but whatever you choose, it’s great to know that your lender supports small business.
At Prospa, our business loans are a great alternative for equipment purchases. The online application process is fast and straight-forward, you get a fast decision and funding is possible in 24 hours. To discuss your equipment loan or financing possibilities, simply contact us today or start an online application.
Talk to a business lending specialist
Talk to a business lending specialist
Talk to a business lending specialist
Talk to a business lending specialist
Talk to a business lending specialist
Customers making it happen with a Prospa loan
Read customer stories
Awards, thanks to your support
It's nice to know we're doing something right
| Year | Award | Category |
|---|---|---|
| 2024 | Great Place to Work | Certified |
| 2025 | Great Place to Work | Recognised as one of Australia’s Best Workplaces for Women |
| 2024 | The Adviser Magazine's Product of Choice: Non-Banks Survey | Winner, Best short-term loan |
| 2024 | FINNIES Fintech Australia Awards | Finalist, Excellence in Business Lending |
| 2024 | The Adviser Magazine's Product of Choice: Non-Banks Survey | Winner, Best SME loans less than $250K |
