Equipment finance
Every Agribusiness needs to invest in farm vehicles, plant or equipment at some time. Good news is, with our Equipment Finance, you don't have to tie up working capital, which lets you purchase the things you need right away.
How equipment finance could work for you
Purchase the things you need for your business:
- you can apply for finance for up to 100% of the GST exclusive price of the new asset
- in most cases; whatever asset you purchase can be used as security on the loan
- spread out the loan over the economic lifespan of your asset so you repay the loan before you need to replace the asset
- keep the cost of finance down through our competitive interest rates
Two finance options
We have two finance options to choose from depending on your business needs:
Equipment Finance Loan – a one-off loan for single purchases like a tractor for the farm or a stand-alone machine.
FlexEquip – a multiple drawdown option where once set up, you simply draw-down on your approved limit to purchase additional assets. This option is ideal for financing multiple purchases like a fleet of vehicles, plant or equipment. Find out about FlexEquip Online, our online asset management solution that allows you to self-manage your asset financed with Westpac quickly and efficiently, providing you with even greater control.
Purchasing from overseas suppliers
Our Import Direct service is for customers who need finance for an asset being purchased from an overseas supplier. Import Direct helps you manage the risks around overseas supplier and currency fluctuations.
We can help with:
- providing Letters of Credit and import documentation
- locking in an exchange rate
- the loan to pay for the equipment once it arrives