In this guide

  • Review
  • Details
    • Product details
  • Your reviews
  • Ask a question
Finder makes money from featured partners, but editorial opinions are our own.

Shift Business Equipment Line Loan

  • Avatar
Shift Business Equipment Line
Upfront Fee
No establishment fees
Max. Loan Amount
$1,000,000
Loan Term
Up to 5 years

Summary

Access between $5,000 and $1,000,000 to purchase vital equipment for your business. No annual or establishment fees included.

3 things to consider about this loan:

  • Time in business. Any business at least 1 year old can apply for Shift’s equipment line.
  • Monthly repayments. Repay monthly over a term of up to 5 years. A 4 month repayment deferral exists for fitouts.
  • Fixed annual interest rate. Pay 13.95% per annum on funds of up to $1,000,000.

Pros

  • 4 month repayment deferral for fitouts
  • No age restrictions on equipment
  • No fees

Cons

  • Minimum spend of $2,000

In this guide

  • Review
  • Details
    • Product details
  • Your reviews
  • Ask a question

Details

Product details

Product Name Shift Business Equipment Line
Min. Loan Amount $5,000
Max. Loan Amount $1,000,000
Loan Security Unsecured
Upfront Fee No establishment fees
Loan Term Up to 5 years

How does the Shift Business Equipment Line work?

By opening an equipment line account with Shift, you will have a limit of up to $1,000,000 to be used across new or second-hand equipment over $2,000 at any time. Using the Shift app or website, you can upload any equipment or fitout invoice and Shift will pay the merchant the next business day.

You can repay the cost of the equipment monthly over a term of up to 5 years. If you’re using the funds in the account for a fitout, you can also benefit from deferred repayments by up to 4 months.

What can this account be used for?

Using Shift’s equipment line, you can buy any type of commercial equipment, including technology, commercial kitchen equipment and building equipment. You can also pay for office or industrial fitouts and refurbishments.

The funds can be used for as many equipment or fitout purchases as needed, with any supplier or merchant up to the account limit.

How to apply:

Apply for a Shift equipment line by clicking on the ‘Go to Site’ button below and filling out the simple online application form. You’ll need the following information at hand while applying:

  • A valid ABN with more than 2 years trading history
  • Personal details such as mobile number and drivers’ licence or passport
  • Business bank account details

Features:

  • Varied credit amounts. You can apply for equipment finance from as little as $5,000 to $1,000,000. The limit of your equipment line account will be assessed based on the size or turnover of your business.
  • Quick application. The application can be completed online in less than 5 minutes.
  • Fast funding. Limits under $250k can be approved within hours with no paperwork. If approved, you can access the funds the next day.
  • No early repayment fees. You won’t face any additional fees if you decide to repay early.
  • No restrictions. Use the funds to buy new or second hand equipment.
  • Deferred repayments. If you use the account to fund a fitout, you benefit from 4 months of deferred repayments.

How much does the Shift Business Equipment Line cost?

  • You’ll pay a 13.95% fixed annual percentage rate.
  • There are no annual fees or establishment fees.
  • In the event of a failed direct debit, you’ll pay $5
  • Default interest of 5% p.a. is chargeable on the outstanding principal

Eligibility criteria:

To be eligible for this product you must be

  • Over the age of 18
  • Have a valid ABN
  • Have 2 or more years of trading history

Your reviews

No reviews yet. Write a review

Ask a question

Ask a question
Avatar

Rebecca Finder

Senior writer

Hi there, looking for more information? Ask us a question.

Error label

You are about to post a question on finder.com.au:

  • Do not enter personal information (eg. surname, phone number, bank details) as your question will be made public
  • finder.com.au is a financial comparison and information service, not a bank or product provider
  • We cannot provide you with personal advice or recommendations
  • Your answer might already be waiting – check previous questions below to see if yours has already been asked
Accept and continue

Finder only provides general advice and factual information, so consider your own circumstances, or seek advice before you decide to act on our content. By submitting a question, you're accepting our 1. Terms Of Service and 6. Finder Group Privacy & Cookies Policy.

This site is protected by reCAPTCHA and the Privacy Policy and Terms of Service apply.

Go to site