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If it moves, has a serial number and earns money for your business, Thor Finance can arrange finance for it. Trucks, trailers, utes and vans. Excavators, yellow goods and agricultural machinery. Fit-out and specialised equipment. We are a Brisbane finance broker with access to a wide panel of lenders, which means we can compare structures and terms rather than pushing you toward a single product.
Whether you are a sole trader electrician buying a first ute or an established operator adding a fifth truck to the fleet, the structure of the loan matters as much as the rate. Below we explain the three main options, what each one does to your ownership and your books, and what you will need to have ready when you apply.
As a general rule, if an asset is movable, identifiable by a serial or VIN number and used predominantly for a business purpose, it can usually be financed under a commercial facility. Assets that do not meet those tests, such as working capital, stock or a fit-out you do not own, are covered on our Business Loans page.
A middle ground. The lender buys the asset and hires it to your business over the term. You have full use of it from the start, and ownership transfers to you automatically once the final instalment, including any residual, is paid. Hire purchase is less common than it once was but still suits some cash flow and accounting positions.
Best suited to: businesses that want eventual ownership without taking title on day one.
The lender purchases the asset and leases it to your business for an agreed term. You have full use of the asset and make regular lease payments, but the lender retains ownership. At the end of the term you can typically pay out the residual and take ownership, trade the asset in, or refinance the residual and continue. Leasing can suit businesses that cycle equipment regularly or want to preserve capital.
Best suited to: businesses that replace equipment on a cycle, or that would rather keep the asset off the balance sheet.
The most common structure for Australian businesses buying a vehicle or piece of equipment. The lender advances the funds, you take ownership of the asset from day one, and the lender registers a security interest over it on the Personal Property Securities Register. Because the asset secures the loan, interest rates are generally lower than an unsecured alternative. You repay in instalments over a set term, and you can usually structure a balloon or residual payment at the end to reduce monthly repayments.
Best suited to: businesses that want ownership from the outset and want the asset on their balance sheet.
Commercial finance spreads the cost of an asset across its working life rather than draining your cash reserves in one hit. That keeps capital free for wages, stock and the next opportunity.
Under a chattel mortgage you own the asset from settlement. There are no kilometre caps, usage restrictions or limits on modifying the vehicle to suit your operation.
Because the asset itself provides the security, many commercial facilities can be arranged without additional personal guarantees over other business or personal assets. Whether that applies to you depends on the lender, the asset and your business profile.
Depending on how the finance is structured and how the asset is used, interest and depreciation may be treated differently for tax purposes. Thor Finance is a credit representative, not a tax adviser. Please confirm the treatment of any facility with your accountant or registered tax agent before you commit.
Chattel mortgage, finance lease or commercial hire purchase, with or without a balloon, over terms that match how long you will actually keep the asset. A broker can compare these across lenders rather than fitting you to one product.
your ABN, and ACN if you trade through a company. Confirms your business is trading and identifiable.
profit and loss and balance sheet, showing lenders your profitability and financial position.
recent business and, for sole traders, personal returns. Evidence of income and of compliance with your tax obligations.
usually the last three to six months. A picture of day-to-day cash flow and account conduct.
your business and personal credit position. Thor Finance will discuss this with you before any application is lodged.
what the business owns and what it owes.
invoice or quote from the supplier, including make, model, year, VIN or serial number.
identification and financial position of the people behind the business.
Low-doc options exist for established businesses with a clean credit history and a straightforward asset purchase. If your paperwork is not complete, tell us early rather than late. It usually changes which lender we approach, not whether finance is possible.
Every credit enquiry leaves a mark on your file, and scattering applications across multiple lenders can work against you. As a broker, Thor Finance assesses your position first and approaches the lender whose criteria your business actually meets. We discuss your situation and your options before anything is lodged, so the enquiry that goes on your file is one that had a reason to be there.
Thor Finance is based at Suite 22/88 Tribune Street, South Brisbane, and works with businesses across Brisbane, the Gold Coast and the Sunshine Coast. We hold an Authorised Credit Representative appointment (#557246) under AFAS Group Pty Ltd, Australian Credit Licence #414426.
Going direct to your bank gives you one set of criteria and one answer. A broker compares a panel. We look at the asset, the age of the asset, your time in business and your credit position, then match those to lenders whose appetite fits. Where a lender declines, we can usually tell you why, and what would need to change.
A commercial loan is finance used by a business to acquire an asset for business purposes, most commonly a vehicle, truck, item of machinery or piece of equipment. The asset generally secures the loan. In Australia the three usual structures are a chattel mortgage, a finance lease and a commercial hire purchase.
Under a chattel mortgage you own the asset from the moment it settles, and the lender registers a security interest over it. Under a finance lease the lender owns the asset and leases it to you; ownership only passes if you pay out the residual at the end of the term. The two are treated differently for accounting and tax purposes, so confirm the implications with your accountant.
Yes. Sole traders with an active ABN can access commercial finance, and it is one of the most common scenarios Thor Finance arranges: a tradesperson financing a first ute or van. Lenders will look at how long the ABN has been active, whether you are registered for GST, and your credit position.
It depends on the lender, the asset and how complete your documentation is. Straightforward applications with a clean credit file and current financials move faster than complex ones. Thor Finance will give you an honest timeframe once we have seen your situation, rather than a number chosen to win the enquiry.
A balloon, sometimes called a residual, is a lump sum owing at the end of the loan term. Setting one reduces your regular repayments across the term, but you will need to pay it out, refinance it or sell the asset when the term ends. It suits businesses that expect to replace the asset at that point.
Yes. Most lenders finance used assets, though the age of the asset at the end of the loan term affects which lenders will consider it and on what terms. Older assets and private-sale purchases narrow the panel but rarely rule finance out.
Yes. Thor Finance is based in South Brisbane and regularly works with businesses on the Gold Coast and the Sunshine Coast, and elsewhere in Australia. Applications are handled remotely where that is easier for you.
No. Thor Finance is a finance broker. We arrange credit through a panel of lenders and are an Authorised Credit Representative (#557246) of AFAS Group Pty Ltd, Australian Credit Licence #414426. We do not lend money ourselves.
Email us to let us know how we can help you with your business’ Loan requirements.
Thor Finance
ABN 31 629 922 589
Contact us to see how we can help you with your finance requirements
Thor Finance ABN 31 629 922 589 is an Authorised Credit Representative
#557246 of AFAS Group PTY LTD, Australian Credit Licence #414426.