Chattel mortgage · Mining services
Chattel mortgage for mining services
Mining services finance is contract-driven lending for the plant, haulage and light vehicle fleets that support mine sites, structured so repayments and asset terms line up with the length of the contract being serviced.
How a chattel mortgage works for mining services
A chattel mortgage gives your business ownership of the vehicle or machine from day one, with the GST on the purchase price generally claimable upfront and interest and depreciation deductible. For mining services this suits core plant you expect to redeploy across multiple contracts — a service truck or a workshop crane — rather than gear bought for one specific scope. Where an asset is genuinely single-contract, a lease structure that hands back the residual risk is often the more honest fit.
The cash-flow pattern we plan around
Large mobilisation spend up front, then monthly claims to a major mining client on 30–45 day terms for the life of the contract.
What mining services typically fund
- Mine-spec light vehicle fleets
- Loaders, water carts and support plant
- Service trucks and workshop equipment
- Mobilisation and camp establishment costs
Chattel mortgage for mining services: the numbers
| Typical amounts | $10,000 – $2,000,000 |
|---|---|
| Term | 12–84 months |
| Indicative rates | 6.9% – 14.5% p.a. |
| Repayments | Monthly (weekly or fortnightly available) |
| Speed | 24–48 hours for low-doc up to $150k; longer for full-doc |
| Documents mining services usually need | ABN and contract or letter of award · 12 months of bank statements and latest financials · Fleet or plant schedule with quotes |
Rates shown are indicative ranges observed across our lender panel for the period stated. They are not an offer or quote. Your rate depends on your business, the lender, the amount, the term and the security offered. The lender makes the final credit decision.
Key terms
Mining services equipment finance
Mining services equipment finance is secured lending for the vehicles and plant used to service mine sites, where the finance term is set against the length of the client contract rather than the maximum life of the asset.
Contract-matched term
A contract-matched term is a finance term deliberately set no longer than the contract generating the income, reducing the risk of carrying repayments on idle plant after a scope ends.
What is a chattel mortgage?
A chattel mortgage is a business loan used to buy a movable asset (a chattel) such as a ute, truck, excavator or equipment. The business takes ownership immediately and the lender registers a security interest over the asset until it is paid off.
Chattel mortgage balloon payment
A balloon is a lump sum, typically 0–40% of the purchase price, paid at the end of the term. It lowers regular repayments but must be paid, refinanced or covered by selling the asset when the term ends.