Compare asset finance options

Choose from three asset and equipment finance options: commercial loan, equipment rental and finance lease.

Each finance option has specific uses and benefits. The loan type you choose will depend on factors such as how often you need to update your equipment and if outright equipment ownership is important to your business.

The table below outlines each product we offer and can be used as a guide to help you determine which option is right for your business. We always recommend seeking professional advice before taking out any type of finance. 

  Equipment rental Finance lease Commercial loan
Definition

Bigstone buys the asset on the renter's behalf and charge the borrower a monthly fee for use of the asset.

Bigstone buys the asset on the borrower's behalf.  The borrower pays us a monthly lease amount and purchases the asset with a final payment transferring title.

Bigstone pays the vendor directly on the borrower's behalf, who releases the asset to the borrower.

Ownership

Bigstone owns the asset for the life of the facility.

Bigstone owns the asset for the life of the facility.

You own the asset from the date funds are disbursed.
At the end of the term The renter has the right to continue to rent, make an offer for the equipment or return the equipment. The borrower has an obligation to pay the residual amount. The borrower owns the asset once the final payment is made.
Balloon/Residual payments No – balloon payments on rental products. Yes - depending on the term of the loan and the asset type. Must reflect market value. Yes - depending on the term of the loan and the asset type. 
GST implications* GST is claimed on each payment. GST is claimed on each of the repayments made.  GST is claimed up front on the purchase price of the asset in accordance with the tax invoice.
Tax implications* Full rental payment is deductible upon payment being made. Interest payments are deductible upon repayment being completed. Depreciation may be claimed by the borrower.  Interest payments are deductible upon repayment being completed. Depreciation may be claimed by the borrower.
Maximum term 3 years 3 years  3 years
Flexibility Asset may be replaced or upgraded with no penalty payouts. Asset must be retained for the term of the contract and contract will be paid out if there is an asset replacement. Asset must be retained for the term of the contract and contract will be paid out if there is an asset replacement.
Payment structure Monthly – can be structured Monthly – can be structured  Monthly – is on fixed structured
Maximum residual N/A 20% 20%

*Psst....we don't provide financial advice. All tax advice provided is general in nature. You should discuss your situation with a qualified financial adviser or accountant before making any final decisions.

We provide finance for most assets and equipment, with a few exceptions:

  • Private sales
  • Low volume assets, non-movable assets, mining equipment, aircraft and customised equipment
  • Used equipment

A residual amount is a one-off payment at the end of the loan term. Sometimes referred to as a balloon payment, this payment is due after all regular weekly repayments have been made and is factored into the total cost of your loan at the beginning of the term. 

As a quick example, if you borrow $100,000 with a residual payment of 40%, your weekly repayments over the life of the loan will only total 60% of the principal and interest. You will pay the remaining 40% in either one lump sum or you can refinance it for up to another two years. This helps keep your regular repayments down and lets you factor the residual payment into your cash flow.

At this stage, we only lend to businesses that are more than two years old. Once you’ve hit the two year mark, you can come back and apply for a loan.

The documents you need to provide will vary depending on how much you want to borrow.

  • For loans up to $99,999 application + invoice.
  • For loans above $100,000 application+ invoice + bank statements + financial statements.

The invoice can be attached directly to your application. If you need to provide bank statements and/or financial statements, we will send you an email once you submit your application with further instructions to securely connect your online banking.

You don’t have to own property to be approved for a loan, but we won’t be able to instantly approve your application.

For any other questions, use the button below to get in touch with us via phone or email.

CONTACT US

Or head to our asset finance page for more information

We charge a one-off upfront $250 fee and no ongoing fees. There are additional fees in the event of a default.

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