Commercial Loan
The Westpac Equipment Finance Goods Loan finances the purchase of equipment and allows the customer to own the asset from the beginning of the term, without tying up valuable working capital.
Fees
| Fee | Type | Amount |
|---|---|---|
| Loan Establishment Fee Charged to cover the costs of originating your Goods Loan, Hire Purchase or Lease and payable by you on or before the settlement date. | Upfront | $500.00 |
| Asset Inspection Fee | Event | $150.00 |
| Legal Fees for Complex Documentation Where we require External Lawyers to document some or all of your contract documentation, we will advise you of this fee before proceeding. It will be payable on or before the settlement date. | Upfront | Variable |
| Early Termination Applicable when you terminate your Goods Loan early. | Exit | $400.00 |
| Break Costs Break costs are not a fixed amount and are determined by a number of factors specific to your product. | Event | Variable |
| Overdue Rate This charge applies on overdue amount from the time it is due until it is paid. | Late payment | 0% of transaction |
| Personal Property Security Fees Personal Property Security Fees apply when search and registration fees are applicable. Where charged individually, these will be itemised on your Details and for the current costs, please refer to the PPS Registrar?s website | Event | Variable |
Features
- Existing Westpac Equipment and Vehicle finance customers may qualify for fast approval.
- Faster funding - Receive approved funds within 1 business day
- Get certainty with fixed interest rate on a goods loan.
- Flexible repayment options - Choose your loan term and repayment frequency
- Based on your choice of business finance option you could benefit from ongoing tax benefits
- Revolving limit is available
- Balloon payment for goods loan is available.
- With Goods Loan product you source and own the asset and we provide a loan secured by the asset. You own the asset and we hold it as security. The interest on the finance and depreciation of the asset are generally both tax deductible.
Eligibility
- Business customersBe a tax resident of Australia: that is based, registered and operating in Australia
- Business customersVehicle or equipment will be used fully or mostly for business purposes.
- The vehicle or equipment is 5 years old or less
- Covers new or used vehicles e.g. cars, vans, trucks
- Loan is secured by the business vehicle
Constraints
- Minimum limit — $15,000.00
- Minimum lease term 1 year
- Maximum lease term 7 years
More Information
Published by Westpac under the Consumer Data Right · Last updated 15 July 2026 · Product ID WestpacCommercialLoan · View on CDR.gov.au