Frequently Asked
Questions

EquipPay is Australia's equipment finance platform, built for both the businesses that sell equipment and the businesses that buy it. For suppliers, EquipPay provides an embeddable finance widget that sits directly on your website or in your sales process — allowing your customers to apply for finance at the point of sale. For customers, EquipPay makes the application fast (under 60 seconds) and the decision same-day.

EquipPay works with a panel of Australian lenders to assess each application and match it with the most suitable finance option based on the applicant's industry, equipment, credit profile, and loan amount.

EquipPay operates under Australian Credit Licence (ACL) 541052, held by Lyft Capital Pty Ltd (ABN 18 623 527 775). We act as a credit intermediary — meaning we assess your application and match you with the most suitable lender from our panel, rather than lending directly ourselves.

Think of us as the layer between you and a market full of lenders. We do the legwork of comparing options on your behalf, so you're not filling out five separate applications with five different banks.

When an application is submitted through EquipPay, our platform assesses it against the lending criteria of our entire panel. Factors including the finance amount, industry, equipment type, business profile, and credit history are all evaluated simultaneously. The lender most likely to approve at the most competitive terms is then matched to the application.

Most applications receive a same-day decision, with many assessed within a few hours of submission. The full application takes less than 60 seconds to complete.

Once approved, the customer receives written confirmation immediately and the supplier is notified so equipment delivery can be arranged.

Yes. EquipPay is available to suppliers and customers across all Australian states and territories — NSW, VIC, QLD, WA, SA, TAS, ACT, and NT. Applications are completed entirely online, so there are no geographic restrictions, branch requirements, or location limitations.

Becoming a supplier partner is straightforward. Visit equippay.com.au/partner and complete the short partner application. Once reviewed and approved, you'll receive access to your partner dashboard, your unique partner ID, and the widget embed code.

Our team will guide you through setup, which typically takes less than a business day. There's no minimum sales volume required to get started, and the process is free.

There is no upfront cost or ongoing subscription fee for suppliers to offer EquipPay at their checkout. EquipPay generates revenue through the finance product — not through supplier fees.

For specific commercial arrangements or high-volume partnerships, speak with our partnerships team directly.

The EquipPay widget is a small piece of embed code that can be placed on any product page, pricing page, or checkout. It displays a live repayment estimate (e.g., “From $265/week”) and opens a full application form when clicked.

The widget works on Shopify, WooCommerce, Magento, Squarespace, and any custom-built website.

Payment to suppliers is processed once the finance formally settles — typically within 1–2 business days of approval and documentation being completed. You issue your standard invoice, and the finance is paid directly to you by the lender.

Once settlement occurs, your payment is guaranteed — you're protected from any credit risk associated with your customer's repayment performance.

As a supplier partner, you are not liable for your customer's repayment performance. Once the finance settles and you have been paid, the lending relationship is solely between the customer and the lender.

Your payment is fully protected from the moment settlement occurs.

EquipPay equipment finance is available to Australian businesses with a valid ABN. This includes sole traders, companies, trusts, and partnerships. Applicants must be 18 years of age or older and purchasing equipment for legitimate business purposes.

Both new and established businesses can apply. Businesses trading for less than 12 months may still be eligible through our low-documentation lending options.

A preliminary credit assessment may involve a soft enquiry, which does not impact your credit score. A full application submitted to a lender involves a credit enquiry, which is recorded on your credit file.

EquipPay works to ensure applications are only submitted to lenders where there is a strong likelihood of approval — minimising unnecessary enquiries on your file.

For most applications under $150,000, you'll typically need:

• Your ABN (active, registered with the ATO)
• A valid driver's licence or government-issued ID
• Your business bank account details

For larger applications, lenders may also request bank statements, BAS returns, and financial statements.

Most applications receive a same-day decision. Many are assessed within a few hours of submission. The application itself takes less than 60 seconds.

Once approved, you'll receive written confirmation and your supplier will be notified so delivery of your equipment can be arranged.

Yes. Most finance agreements allow for early repayment. Depending on the specific loan product and lender, an early repayment fee may apply — this will be clearly disclosed in your loan contract before you sign.

If paying out your finance early is a priority for you, let the EquipPay team know at the time of application.

Through EquipPay's panel of lenders, businesses can access a range of equipment finance products including:

• Chattel Mortgage — you own the asset from day one
• Finance Lease — lender owns the asset, you lease it
• Commercial Hire Purchase (CHP) — you hire with an option to buy
• Operating Lease — shorter-term, no ownership, fully deductible

The right product depends on your business structure, accounting method, cash flow needs, and whether you want to own the equipment at the end of the term.

A Chattel Mortgage is one of the most common equipment finance products for Australian businesses. You take ownership of the equipment at the time of purchase, and the lender takes a security interest over it until the loan is fully repaid.

Key features: immediate ownership, ability to claim GST on the purchase price in your next BAS, depreciation of the asset per ATO schedules, and optional balloon payments to reduce monthly repayments.

With a Finance Lease, the lender purchases the equipment and leases it to your business for an agreed term. You use the equipment but don't own it during the lease. At the end of the term, you typically have three options: purchase the equipment at its residual value, extend the lease, or return the equipment.

Finance Lease payments are generally 100% tax deductible as a business expense.

Commercial Hire Purchase (CHP) is a finance arrangement where the lender purchases the equipment and hires it to your business, with an agreement to sell it to you at the end of the term. The interest component is tax deductible and the asset can be depreciated.

EquipPay can facilitate finance across a wide range of business equipment and industries, including Commercial Kitchen, Construction & Engineering, Medical & Dental, Fitness & Gym, Beauty & Salon, Technology & IT, Security Systems, and Agricultural equipment.

As a general rule: if the equipment is used for a business purpose and has identifiable value, it is likely to be financeable. Both new and used equipment may be considered.

Yes. An active Australian Business Number (ABN) is required to apply for equipment finance through EquipPay. Equipment finance is a commercial product for businesses, not a personal loan product.

If you don't yet have an ABN, you can register for one for free at abr.gov.au.

Many lenders on the EquipPay panel can assess businesses that have been trading for as little as 6 months. Generally, businesses with 12 or more months of trading history will have access to a broader range of lenders and more competitive rates.

Yes. Sole traders with an active ABN can apply for equipment finance through EquipPay. The application process and document requirements are the same.

Yes. Used equipment can be financed through EquipPay, subject to lender assessment. As a general guide, equipment up to 10–15 years old is typically considered for standard finance terms.

EquipPay can facilitate finance from $5,000 to $500,000 per application. For amounts above $500,000, or for multiple assets across a larger portfolio, please contact our team directly.

Interest rates are indicative from 8.9% p.a. for strong applications, and vary depending on the lender, the applicant's credit profile, the finance amount, the equipment type, and the chosen loan term. Rates are fixed for the life of the agreement.

Because EquipPay works with a panel of lenders, applications are assessed against multiple criteria sets — meaning you're more likely to receive a competitive rate than if you approached a single lender directly.

Most equipment finance products include an establishment fee charged by the lender — typically between $250 and $595. EquipPay charges no fees to customers for using the platform. All fees will be clearly disclosed in your loan offer before you sign.

Yes. Most lenders on the EquipPay panel offer weekly, fortnightly, and monthly repayment options. The EquipPay repayment calculator on our website shows both weekly and monthly estimates.

A balloon payment is an optional lump sum due at the end of your finance term. Including a balloon reduces your regular repayments during the loan period — at the cost of a larger payment at the end.

Balloons are available on Chattel Mortgage and Commercial Hire Purchase products. We always recommend discussing balloon payments with your accountant.

If you're having difficulty making repayments, the most important thing is to contact the lender as early as possible. Most lenders have hardship provisions and can discuss arrangements such as deferred repayments, reduced payment plans, or a short-term pause.

Yes — all equipment finance products available through EquipPay have tax-deductible components, but the way the deduction is applied differs by product type:

• Chattel Mortgage: Depreciate the asset per ATO schedules + claim interest as a deduction
• Finance Lease: Full lease payment is typically 100% deductible
• Commercial Hire Purchase: Interest component and asset depreciation are deductible
• Operating Lease: Full lease payments are typically deductible

We always recommend consulting your accountant before selecting a finance product.

GST treatment depends on the finance product:

• Chattel Mortgage: You can claim the full GST on the purchase price in your next BAS lodgement.
• Finance Lease / Operating Lease: GST is claimed on each lease payment as payments are made over the term.
• Commercial Hire Purchase: GST is claimed progressively on repayments over the loan term.

The Instant Asset Write-Off (IAWO) allows eligible businesses to immediately deduct the full cost of qualifying assets. It can apply to financed equipment under a Chattel Mortgage, because you take legal ownership of the asset at purchase.

Eligibility depends on your business's annual turnover threshold and the asset cost limit. Always confirm current eligibility with your accountant or at ato.gov.au.

There's no single answer — it depends on factors specific to your business. As a general guide:

• Chattel Mortgage suits businesses that want immediate ownership, upfront GST claim, and access to depreciation deductions.
• Finance Lease suits businesses that prefer to claim the full repayment as an operating expense deduction.
• CHP suits accruals-based businesses that want eventual ownership.

Speak with your accountant before selecting a product.

Yes. Once your finance is settled, you will have access to annual statements through your customer portal showing interest paid, repayments made, and the outstanding balance.

If you need additional documentation, contact EquipPay's support team and we will coordinate with the lender to arrange it.