Business line of credit · Mining services
Business line of credit 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 business line of credit works for mining services
A revolving limit covers the awkward months: demobilising one site while establishing another, or funding a shutdown crew before the claim goes in. Draw when the spend hits, repay when the monthly claim clears, keep the facility available for the next award. Lenders will size the limit against your claim history with existing clients. Where a business is heavily exposed to one commodity, expect a smaller limit and firmer covenants than the turnover alone would suggest.
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
Business line of credit for mining services: the numbers
| Typical amounts | $10,000 – $500,000 |
|---|---|
| Term | 6–24 months |
| Indicative rates | 11.5% – 24% p.a. |
| Repayments | Weekly or monthly minimums on the drawn balance |
| Speed | 1–3 business days |
| 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 business line of credit?
A business line of credit is a revolving facility with a pre-approved limit. You borrow only what you need, pay interest only on the drawn balance and can redraw repaid funds without reapplying.
Line of credit vs business loan
A business loan pays a lump sum repaid on a fixed schedule; a line of credit is a flexible limit drawn as needed. Loans suit one-off purchases, lines of credit suit fluctuating working-capital needs.