How to get an equipment quote a lender will accept first time

Equipment finance is one of the most straightforward ways to fund a small business milestone — the asset secures the loan, and the lender pays the supplier directly. But one document decides how smoothly it goes: the supplier’s quote. A vague quote leads to questions, delays and sometimes a second quote. A finance-ready quote lets a lender assess quickly and pay without fuss. Here’s exactly what it should contain.

Why the quote matters so much

With equipment finance, the lender is relying on the equipment itself as security. To do that, it needs to know:

• What the asset is — precisely enough to identify and value it
• Who’s selling it — a real, identifiable business
• What it costs — including GST and any extras
• When and how payment is due

Every gap in the quote is a question the lender has to ask, and every question adds time.

The finance-ready quote checklist

Supplier details

• Business name and ABN
• Address and contact person
• Whether they’re registered for GST

Buyer details

• Your business’s legal name and ABN, exactly as the finance will be in

Equipment details — for each item

• Description
• Make and model
• New or used
• Serial or VIN if known (essential for vehicles)
• Quantity and unit price

Pricing

• Price of each item excluding GST
• GST shown separately
• Total including GST
• Any discount or trade-in shown clearly

Extras — listed separately

• Delivery
• Installation and commissioning
• Training
• Extended warranty or service plans

Terms

• Deposit required, if any, and when
• Balance due date
• Expected delivery date
• Quote validity period

Separate the equipment from the works

This is the single most useful thing you can ask a supplier. Lenders are comfortable financing identifiable equipment. They’re less comfortable financing building works, electrical upgrades, plumbing or ducting, because those become part of the premises. If a quote bundles “supply and install kitchen package”, ask for it to be split:

Line	Usually financeable as equipment?
Combi oven, model X	Yes
Six-burner range, model Y	Yes
Delivery	Often
Installation and commissioning by supplier	Sometimes
Exhaust canopy and ducting	Usually funded separately
Electrical upgrade by electrician	Usually funded separately
Gas fitting	Usually funded separately

The parts that don’t suit equipment finance can be covered by a business loan. Our page on business loan vs equipment finance explains how the two combine, and commercial equipment finance covers bigger installed packages.

Got a quote and not sure it’s finance-ready? Send us the details — a specialist will tell you what’s missing, and there’s no credit check to enquire.

Used and private-sale equipment

Used equipment is common and financeable, but needs extra detail:

• Age, hours or kilometres
• Condition — a recent service or inspection report helps
• Proof of ownership — the seller’s purchase invoice or registration
• A PPSR search — business.gov.au flags checking the Personal Property Securities Register for debts owing on assets. If finance is registered against the item, it must be cleared at or before purchase.

Private sales need more checking than dealer sales, but are often still possible. For hard-to-value or very old items, an unsecured loan may be simpler than equipment finance.

GST and tax details

If you’re registered for GST, you’ll generally need a valid tax invoice to claim GST credits on the purchase — the ATO’s guidance on claiming GST credits covers how they’re claimed through your BAS. Make sure the final tax invoice matches the quote and is issued to the business named on the finance.

For tax, the ATO’s instant asset write-off lets eligible small businesses (aggregated turnover under $10 million, using simplified depreciation) immediately deduct the business portion of eligible assets costing less than $20,000. Higher-cost assets can go into the small business pool. The finance structure you choose can affect what’s claimable — check with your accountant before signing.

Timing payments with your supplier

Suppliers and lenders don’t always run to the same clock. Before you order:

1. Ask the supplier for its payment terms in writing — deposit, balance, delivery.
2. Check when finance can pay — on approval, on delivery, on installation.
3. Agree the sequence so the supplier is comfortable releasing the equipment.
4. Don’t pay the full price yourself expecting to be reimbursed — refinancing equipment you’ve already paid for can be harder.

Illustrative example: A café owner sends her supplier a short checklist before requesting a quote for a new espresso machine and two grinders. The quote comes back itemised with models, serial numbers to follow, GST shown separately, delivery and installation as separate lines, and a 10% deposit due on order with the balance on installation. Her equipment finance is assessed without a single follow-up question, and the lender pays the balance directly once the machine is installed.

A message you can send your supplier

“We’re financing this purchase. Could you please provide a quote addressed to [business legal name, ABN] showing your business name and ABN; each item’s make, model, new/used status and price excluding GST; GST shown separately; delivery, installation and training as separate lines; any deposit and when it’s due; the expected delivery date; and how long the quote is valid. For used items, please include age or hours and confirmation of clear ownership. Thank you.”

Common quote problems that slow finance

• A single lump-sum price for a “package”
• No supplier ABN
• Quote addressed to a person, not the business
• Equipment and building works mixed together
• Used equipment with no age or condition details
• An expired quote

Equipment and vehicles

The same principles apply to vehicles — the dealer’s invoice should include the VIN, and fit-outs like racking or canopies listed separately. See vehicle finance.

Comparing quotes from different suppliers

If you’re getting more than one quote — and for bigger purchases you should — make sure they’re comparable. Ask each supplier to quote the same specification, and check:

• What’s included. One quote may include delivery, installation, training and a first service; another may not.
• Warranty and support. Length of warranty, who services the equipment, response times and the availability of parts.
• Lead times. A cheaper machine that arrives two months later can cost more in lost trade.
• Payment terms. A large upfront deposit ties up your cash for longer.
• Trade-in value. If you’re replacing existing gear, what each supplier will offer for it.

Lay the quotes out side by side in a simple table before choosing. The cheapest headline price isn’t always the cheapest outcome once support, downtime and payment timing are counted.

What happens after approval

Once the finance is approved and the paperwork signed, the usual sequence is straightforward. The supplier issues a tax invoice that matches the approved quote, you confirm delivery or installation, and the lender pays the supplier. The lender then records its interest in the equipment. Keep copies of the quote, invoice, finance documents and any warranty paperwork together — you’ll want them at tax time and if you ever sell or upgrade the equipment.

Get your equipment funded smoothly

A clear quote is half the job done. Share yours — or describe what you’re buying — and a real person will tell you how to structure the finance and what, if anything, the quote needs. Enquiring won’t affect your credit file, your details won’t be handed to a long chain of lenders, and accurate quotes help us match you properly on the first attempt. Check your equipment finance options.