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Answer to your questions
What types of assets can I finance for my business?
You can finance almost any physical asset used for business purposes, including passenger vehicles, heavy machinery, medical equipment, kitchen fit-outs, and IT hardware. Whether you are a tradie needing a new ute or a medical clinic upgrading diagnostic tools, Loanity has access to specialized lenders for both standard and niche business equipment.
What is the difference between a Chattel Mortgage and a Finance Lease?
A Chattel Mortgage allows you to own the asset from day one, with the lender taking a mortgage over it as security. This is popular for businesses wanting to claim GST and depreciation upfront. A Finance Lease involves the lender purchasing the asset and leasing it to you for a monthly fee. Loanity will help you compare these structures to see which best aligns with your accountant’s advice.
Can I use Asset Finance to claim the Instant Asset Write-Off?
Yes, if you use a Chattel Mortgage to purchase an eligible asset, you may be able to claim a significant tax deduction under current ATO incentives like the Instant Asset Write-Off. This allows you to reduce your taxable income by the cost of the asset in the same financial year. We recommend confirming your specific eligibility with your tax professional.
Do I need to provide tax returns to get equipment finance?
Not necessarily. Loanity offers “Low Doc” asset finance options where you may only need to provide an ABN and recent bank statements to prove your business turnover. These products are designed for busy business owners who need to upgrade equipment quickly without the delay of preparing full financial statements or tax returns.
How long does it take to get approval for equipment or machinery?
Asset finance is typically much faster than a standard business loan. Because the equipment itself serves as security, we can often secure an approval within 24 hours. Once the documents are signed, many of our lenders can settle the funds and pay the supplier on the same day, ensuring you get your new equipment to work immediately.
Can I finance used equipment or must it be brand new?
You can finance both new and used equipment through Loanity. While some banks have strict rules on the age of the asset at the end of the loan term, we work with a wide range of lenders who are flexible with older machinery or specialized used equipment, provided it is in good working order and has a clear title.









