🧰 Tradies & Contractors: needing tools, utes, and trailers
🚚 Transport Operators: for trucks, vans, or fleet upgrades
🏥 Medical & Dental Practices: financing high-cost medical tech
🏗️ Construction Firms: for cranes, diggers, excavators, scaffolds
💼 Startups or Established SMEs: who prefer to preserve capital
📸 Photographers, Videographers: purchasing cameras, editing gear
🧑🌾 Agriculture Sector: tractors, harvesters, drones, irrigation units
Even individuals buying high-value assets for work or business use may benefit over using a personal loan.
💡 Learn more about deductions on business-related loans at the ATO website
| Feature | Asset/Equipment Finance | Personal Loan |
|---|---|---|
| ✅ Secured by Asset | Yes | No |
| ✅ Interest Rates | Lower | Usually higher |
| ✅ Tax Deductibility | Often Yes | Rare |
| ✅ Approval Criteria | Based on asset + income | Income only |
| ✅ Suitable For | Business/work assets | General use |
At Kanova Loans, we streamline the journey from application to settlement with expert guidance:
Step 1: Needs Assessment
We identify your asset needs and timeline.
Step 2: Document Preparation
We help you gather:
ABN / business financials (if applicable)
Invoice or quote for asset
ID and income docs (if personal)
Step 3: Lender Match
We shortlist lenders who offer fast approvals & suitable rates.
Step 4: Submission & Approval
Kanova handles the application — keeping you in the loop.
Step 5: Settlement
We coordinate with the vendor for direct payment once approved.
Lenders look at:
✅ Your business age (6–24 months minimum preferred)
✅ Type and age of asset
✅ Repayment capacity (based on business or PAYG income)
✅ Credit history
✅ Whether the asset generates income (bonus points!)
The Asset Itself (Primary security)
✅ Some lenders offer no-doc or low-doc options for established businesses
🚫 Personal property is not usually needed unless risky profile
| Type | Description |
|---|---|
| Chattel Mortgage | You own the asset; loan secured over it. Great for GST-registered buyers. |
| Equipment Lease | Lender owns it; you lease. May have balloon or buyout. |
| Commercial Hire Purchase | Similar to lease; ownership transfers after final payment. |
| Operating Lease | Short-term use without owning, like renting. |
| Asset Cost | $50,000 |
|---|---|
| Term | 5 years |
| Balloon | $10,000 |
| Interest | 7.5% p.a |
| Monthly Repayment (approx.) | ~$792 |
✅ Trusted by Australian businesses since 2016
✅ Fast turnaround — we know which lender suits which gear
✅ Access to over 60 lenders — banks + private funders
✅ We handle the paperwork, chase the lender, and get the deal done
✅ Personalised advice from Anitha Varghese, your dedicated mortgage & asset finance expert
Talk to Anitha Varghese, your trusted mortgage and asset finance broker, and get pre-approved today. Whether you’re investing in a $15K trailer or a $150K truck, we’ll help structure a loan that works for your business.
Disclaimer: This blog is for general information only and doesn’t constitute personal financial advice. Speak to a licensed advisor or broker for guidance specific to your situation.
© Kanova Financials PTY Ltd
| ACN 634 774 002 | Australian Credit Licence 389328 | CRN: 486204
Kanova Loans helps Australians access home, car, and commercial finance through expert guidance and top lender comparisons — led by trusted senior mortgage broker Anitha Varghese.
