Hospitality Finance

Hospitality finance is for busy public-facing businesses. Savvy makes it easy to access great rates and products .

Compare hospitality finance options

Hospitality finance with a difference 

Whether youre trying to get a new café venture off the ground or youre looking to refit an established restaurant, having the right hospitality finance in place is vital. We know your reputation is based on excellence, efficiency, and the experience you provide to customers. That means flexible solutions that work the way your cash flow does. It demands fast, convenient options when you need to expand operations or replace kitchen equipment in a hurry – and thats where Savvy comes in. 

How Savvy helps restauranteurs prosper

From coffee machines to dishwashers and commercial stoves, Savvy helps thousands of hospitality clients find cost-effective finance solutions every year. With a larger, more specialised panel of lenders, were able to access exclusive offers and tailor options to your specific needs and goals. Our experienced, dedicated asset finance brokers know that you work hard, and theyll match your efforts in order to uncover the most relevant, workable hospitality finance lenders for your business. 

Hospitality equipment finance explained

How does hospitality finance work? 

There is a selection of commercial finance solutions, each designed to benefit businesses with different priorities and models. Chattel mortgage hospitality finance is a secured commercial loan product, so interest rates are very cost-effective. Terms run between one and seven years, and you own equipment right from the start of the agreement. That means you can claim depreciation as per ATO rules. You can claim back all purchase price GST as soon as you file a BAS, and there’s no GST on regular repayments or any residual. Interest on repayments is tax-deductible.  

An operating lease runs for anything between one and five years. There’s no residual with an operating lease, and you also have no obligation to buy when the lease ends. If you’re buying a delivery van or similar, operating leases give you the option of bundling costs like registration and servicing into the repayments. Entire repayments are fully tax-deductible, and the finance amount is based on the ex-GST price of equipment and vehicles. A finance lease is slightly different. There’s a residual and an obligation to buy when the lease ends, so every payment you make builds equity – a bit like a loan. 

How do I qualify for hospitality finance?

Different lenders have various requirements for qualification, but generally, you’ll need to supply up-to-date business financials like accounts and tax returns. Most lenders will also ask for cash flow forecasts in order to gauge how your business is performing and whether it can afford repayments. Low doc hospitality finance is a specialist lending option for business owners who are short on paperwork or don’t have up-to-date financials to present to a lender. Talk to one of our finance consultants to find out your options if that sounds like you. You’ll likely need to provide personal guarantees, and many lenders will only consider low doc applications from business owners that own property.  

Whether you’re applying for standard or low doc hospitality finance, applying via a site like Savvy is a great idea. That’s because our commercial finance consultants specialise in matching borrowers with lenders who offer both products and qualification requirements that suit their situation. We also partner with more lenders so we can access a broader range of solutions for every business out there. 

Why so many hospitality businesses turn to Savvy 

Specialist lenders and brokers providing more flexible, convenient solutions to Australian hospitality clients

Savvy's hospitality finance faqs – all the answers you need 

Find out the answers to all the most frequently asked hospitality finance questions

What can I use hospitality finance for?

Savvys range of lenders and hospitality finance products can be used to fund commercial catering equipment, buy refrigerators and freezers, or provide access to coffee machines and dishwashers. You can lease or purchase pizza ovens and bakery appliances. If youre looking at refitting new or existing premises, we have solutions for purchasing specialised display equipment, creating modern commercial kitchens, and purchasing furniture. 

Can I purchase used equipment and vehicles?

You can purchase any equipment or vehicles you like, but most lenders specify age limits which apply at the end of the finance term which is usually 20 years. If you have assets that are older, talk with one of our expert hospitality finance consultants. We partner with niche lenders who offer solutions to most equipment finance needs. 

Should I just use kitchen equipment dealer finance?

We dont advise this option purely because it limits you to the interest rates and range of products that specific dealer offers. With hospitality finance from Savvy, youre free to shop around for precisely the right oven, coffee machine, or any equipment you need – and well put finance with the best possible interest rate in place.

I've got a low credit rating – can I still apply?

Savvy partners with lenders who offer specialist hospitality finance packages for businesses or individuals that have experienced credit problems in the past. Get in touch today, and well do our best to find you an option. 

How does a residual payment work?

Some businesses use residual payments – also referred to as balloon payments – to manage the ongoing costs of hospitality finance. With residuals, you save some of the loan principal until the end of the term which lowers the monthly repayment amount. When the term ends, you can choose to pay the residual and own the asset or refinance the residual amount and extend the length of the term. Residuals are an option with finance leases and chattel mortgages, but not with operating leases. 

Why should my business use a finance broker?

Using a finance broker has a few distinct advantages. Firstly, we know the market, and our consultants are experts at identifying the ideal options for every different business they help. Secondly, well quickly get several quotes for hospitality finance, meaning you get more competitive rates. Lastly, your dedicated consultant will be with you from start to finish. Theyll make sure all the paperwork for your application is in order and ensure a smooth, quick application process.