Equipment Line
A revolving facility enabling equipment and fitout purchases to be paid in instalments over 5 years
Equipment
Simple and easy settlement on purchases with only the invoice to be uploaded into Shift Online
Can be used for multiple purchases up to the account limit
Available balance increases as repayments are made
5-year term per transaction on all equipment
No age or class restrictions for any equipment
No establishment fees.
Can be used with any authorised supplier (excludes capital raises)
No caps on soft costs for fitouts
Fitout
Customer may allocate a sub-limit (minimum of $25,000) within their Equipment Line to use for a fitout. The sub-limit enables a period 120 day to which the customer can upload and pay invoices during which the interest is capitalised with no repayments. At the end of the 120 days the balance is set to repay monthly over 5 years.
Pricing and commissions
| Annual Turnover | $250k - $1.5m | $1.5m - $10m | > $10m |
|---|---|---|---|
| Interest Rate (APR) | 16.95% | 15.95% | 13.95% |
| Commission (incl. GST) | 5.5% | 5.5% | 4.4% |
Policy overview
| Revolving facility | Requires continuous bank link |
|---|---|
| Credit | Clean credit history |
| No dishonoured paymentsCashflow lenders by exception | |
| Annual turnover | $250,000 + |
| Minimum guarantor Equifax score | 550 |
| Time in business | 2+ years |
| Maximum limit asset backed | $500,000 connected bank link Applications considered up to $1 million under full-doc |
| Maximum limit non-asset backed | $100,000 |
| Minimum transaction amount | $2,000 |
| Repayment frequency | Monthly in advance |
| Asset Type | No age or class restrictions |
Documentation
| Applications with exposure up to $500,000 | Completed application on Shift Connect | ||
|---|---|---|---|
| 6-months bank statements (all business-related accounts) |
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| Copy of trust deed (if applicable) |
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| Additional documentation for applications with exposure over $500,000 | Up-to-date financial statements (including aged AP & AR) |
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| Copy of ATO portal | |||
Typical Loan uses
Purchase of:
- Catering and hospitality equipment
- Solar, Technology, Telephony equipment
- Gym equipment
- POS systems
- AV equipment
- Aged assets
- Any other asset
Fitouts for:
- Professionals: Medical, Accountant, Financial Planner and other professional services offices
- Retail: Cafes, restaurants, shops
- Industrial: Factories, scaffolding, offices
- Any other fitout requirements
Restricted sectors: Property Development, Mining Exploration/Services and Primary Agriculture (Farms). Contact broker support to discuss options for clients in these sectors. Additional documents may be requested at the discretion of the credit officer.
Level 21, 177 Pacific Hwy
North Sydney, NSW 2060
North Sydney, NSW 2060
Privacy Policy. Terms and conditions. Please consider the information before you decide whether the product is appropriate for your business. Standard credit assessment, fees, terms and conditions apply. The products and service offered are available in Australia from Shift Financial Pty Ltd. ABN 24 149 390 625, (“Shift”).