The Finance Algorithm
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Business Equipment Loan

Get a fixed business loan designed for business customers who need to purchase new or used general everyday business equipment using financed assets as security.

Business loansBank updated 1 July 2026
Apply at Unity Bank ↗Product page ↗Fees and pricing ↗Terms ↗

At a glance

Pricing
Rates on application
Upfront fee
$250

Fees

6 fees published, grouped by when they're charged.

  1. When you take it outUp to $2502 fees, each listed below
  2. While you hold it$2 a monthPAPER_STATEMENT_FEE
  3. When you close it or pay it offNo fee published

When you take it out2

  • LOAN_ESTABLISHMENT_FEE_-_BUSINESS_EQUIPMENT_LOAN_(NEW)

    A fee charged to set up a new Business Equipment Loan

    $250
  • SECURITY_GUARANTOR_FEE

    Payable if a guarantor is listed on the loan schedule.

    $200

While you hold it1

  • PAPER_STATEMENT_FEE

    A fee charged to cover the cost of producing and sending paper statements

    $2 a month

When particular things happen3

  • DEFAULT_NOTICE_FEE

    A fee charged if you default on your repayments and we issue a default notice

    $50
  • FIXED_RATE_LOCK_FEE

    A fee charged to guarantee the fixed interest rate quoted to you at loan approval for up to 90 days from the date of approval. The amount is $500.00 or 0.15% of the total fixed rate loan amount which…

    $500
  • LATE_PAYMENT_FEE

    A fee charged when you don't make your minimum monthly payment, plus any overdue amount

    $15

Features

Instant paymentsPayID
  • 1 to 7 years
  • Flexible repayment options weekly, fortnightly or monthly
  • You can make extra repayments or repay your loan in full at any time. Extra repayments may enable you to redraw funds, subject to conditions
  • No PPSR (Personal Property Securities Register) fee is charged during the loan application
  • Set repayments that won't change during the fixed term so you can lock in certainty
  • Based on your choice of business finance option you could benefit from ongoing tax benefits

Eligibility and limits

  • Minimum age 18
  • Residency: Permanent Resident
  • Available to businesses
  • Applications for credit are subject to eligibility and suitability criteria and normal credit approval process.
  • New or used equipment such as office equipment, garden tools, carpenters tools, solar panels, warehouse equipment and other general everyday business equipment.

Published by Unity Bank under the Consumer Data Right, last changed by them on 1 July 2026. Figures are shown as the institution publishes them and can change without notice; confirm on their site before applying. The Finance Algorithm earns nothing from any product listed here.