Bank Said No? How We Helped Secure Excavator Finance After a Decline

Being declined by a bank can feel like the end of the road, especially when you’re trying to purchase essential equipment. In this podcast, we explain how we helped a client secure excavator finance after the bank said no.

The Challenge

The client was looking to purchase an excavator but was declined by their bank due to strict lending criteria and slow approval processes. Despite having a genuine need for the asset, the application became stuck in red tape.

Our Approach as a Finance Broker in Australia

As a finance broker in Australia, we assessed the client’s full situation rather than relying on a single lender’s criteria. We structured a tailored finance solution and matched the application with lenders experienced in equipment and asset finance. The focus was on finding a practical outcome with a fast turnaround. Approval was subject to lender assessment and criteria.

The Outcome

The client secured finance for the excavator, allowing them to move forward without further delays or unnecessary red tape.

Key Takeaway

A bank decline doesn’t mean the end of your options. There is more than one way to get funded, and the right finance broker can help identify alternative solutions.

FAQ: Equipment Finance After a Bank Decline

Can you get equipment finance if the bank says no?

Yes. A bank decline does not automatically mean equipment finance is unavailable. Some lenders have different assessment criteria. Approval is subject to lender assessment.

What is equipment or asset finance?

Equipment or asset finance is a type of loan used to purchase business assets such as machinery or vehicles, with the asset often used as security.

Do I need perfect credit to get excavator finance?

Not always. Some lenders assess applications based on overall business performance and asset suitability rather than credit score alone. Eligibility depends on lender criteria.

Is approval guaranteed through a finance broker?

No. A finance broker cannot guarantee approval. All finance applications are subject to lender assessment, eligibility, and approval conditions.

How long does equipment finance take to approve?

Timeframes vary depending on the lender and the complexity of the application. Some non-bank lenders may offer faster turnaround than traditional banks.