Equipment loan · Electrical contractors
Equipment loan for electrical contractors
Electrical contractor finance funds fitted-out vehicles, test and installation equipment and elevated work platforms, plus the working capital needed to carry cable and switchgear costs on commercial and solar projects.
How a equipment loan works for electrical contractors
Test and certification instruments, thermal imaging cameras, cable pullers and rollers, generators, conduit benders and battery tooling are individually mid-priced and collectively significant. An equipment loan bundles a year of planned purchases into one facility over two to five years. For contractors moving into solar and battery work, the specialised tooling and safety equipment can be included, which is usually cheaper than putting it on a card while waiting for the first installations to be paid.
The cash-flow pattern we plan around
Large materials outlays at the start of each project against progress claims paid 30–45 days in arrears, with retention held to practical completion.
What electrical contractors typically fund
- Fitted-out service vans and utes
- Test, certification and thermal imaging equipment
- Scissor lifts and elevated work platforms
- Cable, switchgear and solar componentry up front
- Apprentice wages and licensing
Equipment loan for electrical contractors: the numbers
| Typical amounts | $5,000 – $5,000,000 |
|---|---|
| Term | 12–84 months |
| Indicative rates | 6.9% – 16% p.a. |
| Repayments | Monthly |
| Speed | Same day to 48 hours for low-doc |
| Documents electrical contractors usually need | ABN and electrical contractor licence · 6–12 months of bank statements · Equipment or vehicle quote, or materials purchase order |
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
Electrical contractor finance
Electrical contractor finance is lending to licensed electrical businesses covering vehicles, test and access equipment, and working capital for the materials purchased ahead of progress payments.
Materials-up-front exposure
Materials-up-front exposure is the cash a contractor commits to cable, switchgear and componentry at the start of a project, before any part of that project has been claimed or paid.
What is equipment finance?
Equipment finance is any loan or lease used to acquire business equipment, with the equipment typically serving as security. The main structures in Australia are chattel mortgages, finance leases and rentals.
Low-doc equipment finance
Low-doc equipment finance approves smaller amounts (often up to $150,000–$250,000) without full financials, relying on ABN age, GST registration, credit history and sometimes a property-owner declaration.