FAQs for Customers & Buyers

EquipPay equipment finance is available to Australian businesses with an active ABN. This includes:

• Sole traders
• Companies (Pty Ltd, Ltd)
• Trusts (including discretionary and unit trusts)
• Partnerships

Additional eligibility requirements:

• The applicant must be 18 years of age or over
• The equipment must be purchased for business purposes — not for residential or personal use
• Both new businesses and established businesses can apply (though trading history affects assessment)

Residential equipment purchases and purely personal purchases are not eligible through EquipPay.

This depends on the stage of the process:

• Preliminary assessment (soft enquiry): When EquipPay first assesses your application, this is a soft credit enquiry. Soft enquiries do not appear on your credit file and have no impact on your credit score.
• Full lender application (hard enquiry): When your application is formally submitted to a lender for assessment, a hard enquiry is recorded on your credit file. This is a standard part of any credit application in Australia.

EquipPay minimises unnecessary hard enquiries by only submitting your application to a lender where there is a strong approval likelihood based on our pre-assessment. If you were to approach five banks individually, each would record a hard enquiry on your file — that is five marks. EquipPay typically results in one targeted, well-matched hard enquiry.

Credit history is one factor among many that lenders assess — it is not an automatic disqualifier. Minor or older defaults do not automatically result in a decline.

EquipPay's lender panel includes lenders who can work with imperfect credit histories, provided other factors are strong. Lenders also consider:

• Business trading time and revenue
• The specific type and value of equipment being financed
• Your business structure and industry
• The nature of the default (how old, how large, whether it has been settled)

We recommend contacting EquipPay to discuss your specific situation before assuming you cannot be approved. A frank conversation upfront is far more useful than an unexplained online decline. Don't rule yourself out before we've had the chance to assess properly.

Yes. You can obtain a conditional pre-approval for a finance amount before you have finalised which specific equipment you intend to purchase. This is useful if you are still comparing options, negotiating with suppliers, or want to know your budget before you shop.

Once pre-approved, you can then shop with confidence knowing your finance limit. The formal approval is confirmed once you provide the supplier's details and specific equipment information. Pre-approval is typically valid for 30–60 days, after which a refresh may be required if your circumstances have changed.

Document requirements vary by finance amount:

Under $150,000 (most applications):

• ABN
• Driver's licence or government-issued photo ID
• Business bank account details

Over $150,000: You may also be asked to provide:

• 3–6 months of business bank statements
• BAS (Business Activity Statements) returns
• Financial statements (profit & loss, balance sheet)

Low-documentation options are available for some business profiles. The application intelligently asks only for what is relevant to your specific situation — you won't be asked for documents that aren't needed for your profile.

EquipPay is built for speed:

• Application form: under 60 seconds to complete
• Assessment decision: most applications receive a same-day decision, many within a few hours of submission
• Settlement: 1–3 business days after your approval and document signing
• Full journey: application through to funded — typically 2–5 business days for most applications

More complex applications — larger amounts, specialist equipment, or profiles requiring additional verification — may take longer, but our team will communicate clearly with you throughout.

Yes. The EquipPay application process is 100% digital. There are no branch visits, no broker appointments, no paper forms to print, sign, and scan.

• The application is completed on your phone, tablet, or computer in under 60 seconds
• Any required documents are uploaded digitally
• Contracts are signed electronically — no printing required
• Communication happens via email and SMS

The entire process can be completed from anywhere in Australia with an internet connection — whether you are at your business premises, on a job site, or at home.

Yes. If you are purchasing multiple items from the same supplier at the same time, they can often be included in a single finance application. This is commonly used for fit-outs — for example, a complete commercial kitchen, gym setup, or salon equipment package.

If you are purchasing from different suppliers, or at different times, these would typically require separate applications. Contact EquipPay to discuss structuring for larger multi-supplier or staged equipment packages — our team can advise on the most efficient approach for your situation.

Here is what happens after your application is approved:

• 1. Written approval: You receive formal written approval outlining the final loan terms, interest rate, repayment amounts, and any remaining conditions to satisfy.
• 2. Sign loan documents: Review and sign your loan documents electronically — usually the same day you receive them.
• 3. Supplier notification: The supplier is notified of the approval and issues their invoice to the lender.
• 4. Finance settled: The lender pays the supplier directly within 1–2 business days of documents being signed.
• 5. Equipment delivery: The supplier delivers or makes available the equipment per their normal process.
• 6. Repayments begin: Your repayments commence on your chosen schedule — weekly, fortnightly, or monthly — from the date of settlement.

Once your finance is settled, you receive access to your customer portal at equippay.com.au/customer. The portal is available 24/7 on desktop and mobile.

Through the portal you can view:

• Your full repayment schedule — amounts and due dates for the life of the loan
• Total amounts paid to date
• Outstanding balance
• Annual interest statements for tax purposes
• Loan documents and contracts

If you need a document not available in the portal — such as an amortisation schedule or certificate of title — contact EquipPay support and we will coordinate with the lender to have it issued.

Any concerns about the quality, condition, or conformance of the equipment are primarily a matter between you and the supplier — this is separate from your finance agreement with the lender.

However, if the equipment materially differs from what was described and financed — for example, the wrong model was delivered, the equipment is damaged, or significantly different specifications — contact EquipPay immediately. Certain lender protections may apply in these circumstances, and it is important to act before formally accepting delivery.

We recommend: do not sign a delivery confirmation or acceptance form until you are satisfied that the equipment matches what was agreed. Once delivery is formally accepted, your obligations under the finance agreement are generally fully in place.

Yes. Most equipment finance agreements allow early repayment — paying the outstanding balance in full before the end of the agreed loan term.

An early repayment fee may apply depending on the lender and the specific product. This fee (if applicable) is disclosed clearly in your loan contract before you sign. It is not a hidden charge.

If the ability to pay out early (without penalty, or with minimal penalty) is important to you, tell EquipPay at the application stage. We can factor early payout flexibility into our lender selection — different lenders have different early repayment policies, and this is one of the criteria we use when matching.

Most lenders on the EquipPay panel offer the following repayment frequency options:

• Weekly — suits businesses with weekly revenue cycles (e.g., hospitality, retail)
• Fortnightly — suits businesses with fortnightly payroll or billing cycles
• Monthly — suits businesses with monthly invoicing or cash flow patterns

You choose your preferred repayment frequency at the application stage. The repayment amount is fixed for the life of the loan — it does not change with market interest rate movements (all EquipPay-facilitated products are fixed rate).

This depends on your specific lender and loan product. Many equipment finance agreements allow additional repayments above the scheduled amount — which reduces your outstanding principal and, as a result, the total interest paid over the life of the loan.

Some products allow full early payout at any time; others may charge an early repayment fee. The terms are specific to your contract — review the relevant clauses or contact your lender directly to confirm what applies to your agreement.

If flexibility to make extra repayments is a priority for you, let EquipPay know at application stage and we will consider this in our lender matching.

If you are experiencing financial difficulty, contact the lender as early as possible. Do not wait until you have missed repayments. Most lenders have formal hardship provisions and prefer to find a workable solution over allowing a situation to escalate.

Options that may be available include:

• Deferred repayments for an agreed period
• Reduced repayment amounts for a temporary period
• A short-term pause in repayments
• Restructuring the remaining loan balance

EquipPay's support team can help facilitate conversations between you and the lender if needed. Missing repayments without communication results in default fees, adverse credit reporting, and escalating complications. Proactive contact is always the right first step.