Equipment Financing

Equipment financing provides funding to the owners of SMEs to buy useful tools and specialised machinery, to boost their businesses and create more employment. Equipment financing plays a very vital role, especially, in small businesses, which contribute a lo to the Australian economy. This is the reason why The Federal Government and many State Governments have announced quite a few grants to help small businesses to buy the equipment they need. Below mentioned are a few of such grants announced by the State and the Federal Governments.

Bin Trim Rebates Program

The Bin Trim Rebates Programs provides free trash assessments and rebates to small and medium-sized enterprises to help pay the expense of installing small-scale, on-site recycling equipment. This is only for New South Wales provinces. Rebates ranging from $1,000 to $50,000 are available to cover up to 50% of the capital cost.

Eligibility Criteria:

You must meet the following requirements to be eligible:

  • Be one of the following:
  • Small to medium sized firms in NSW with a maximum of 400 employees
  • Be a facility manager or a small-scale recycler responsible for SME trash management in NSW
  • Must have a Bin Trim assessor’s free trash assessment

The following items are examples of eligible equipment:

  • Shredders
  • Plastic balers or cardboard
  • Source separation bins
  • Compactors for expanded polystyrene, etc.

Applications for The Bin Trim Rebates program are now open and can be made at anytime.

Business Growth Fund Program

Small and medium firms can use the Business Development Fund to buy and implement specialised equipment to help them capture growth possibilities. This is only for Queensland businesses. Funding of up to $50,000 is available.

Specialized equipment that is eligible includes, but is not limited to:

  • Production equipment to fulfil rising the demand that would otherwise be unachievable
  • Digital systems and equipment or advanced manufacturing

Prior to submitting, applicants should be able to fund a minimum of 25% of the project expenditures for the procurement and implementation of specialised equipment, as well as attend a Mentoring for Growth session.

Eligibility Criteria

You must meet the following requirements to be eligible:

  • Having been in business for at least three years
  • Having a minimum revenue of $500,000 in the previous fiscal year
  • At the time of your application, you must have fewer than 50 employees.
  • Be based in Queensland
  • Have the ability to compete in both home and international markets
  • Not be an insolvent

Small Business Rebate for Safety Equipment NSW

When small businesses buy and install safety products to address the safety issues in their workplace, they are eligible for a rebate under the Small Business Rebate Program. Within six months of attending an advising visit, a safety workshop, or a safety event, you must purchase your safety products and apply for the rebate. Rebates of up to $500 are available.

Eligibility Criteria

You must meet the following requirements to be eligible:

  • Be a lone trader or a small business owner in NSW
  • Employ fewer than 50 full-time or equivalent employees
  • Purchase and install approved safety equipment at your place of business
  • Have not received any rebates under this program before

If you want to know more information regarding the above grants and similar ones, please contact one of our advisers at the number mentioned below.

Enquiry Form