Mining Equipment Finance

Finance the next phase of your mining operation with a competitive equipment loan through Savvy

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, updated on August 28th, 2023       

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Competitive finance for mining equipment

Mines run on their equipment. From mine-spec trolleys all the way up to prime movers and plant, a mining operation’s success requires competitive finance solutions. Savvy tailors finance to help your mining operation, whether it’s exploring, excavating, or processing, get the finance it needs to maintain crucial cash flow. We look for loans from over 25 of Australia’s leading banks and lenders to make sure you gain the most value.

All types of finance for mining

Mining can be highly speculative, and technology can move fast. Savvy can give your mining company the flexibility of operating or finance leases so you can use equipment when you need it and replace it for new or specialist equipment when the time comes. Find the right finance to suit your accounting and operations. Our loan consultants work with you to secure seasonal finance and other funding options that suit you.

Why choose Savvy for your mining loans?

Your mining equipment finance questions answered

What types of mining equipment does Savvy finance?

We can finance all types of mining equipment from trolleys, workbenches, prime movers, trucks, excavators, mobile or tower cranes, frannas, and other specialist equipment.

My business needs more than one piece of equipment. Is it possible to buy multiple pieces of equipment?

Yes, we can tailor a package that suits your business needs and operations.

Do I need to have a deposit?

No. We can find cash flow neutral solutions and even lend more than 100% of the equipment’s value to ensure training, insurance, and installation are covered.

Can I claim tax deductions on mining loans and leases?

Tax deductions are “baked into” mining loans such as chattel mortgages and hire purchases. First off, any purchase is eligible for the instant asset write-off set up by the government. You can claim back the GST on the purchase price, or have it passed on as lower repayments. You can also claim depreciation and interest on all loans and leases. You may also be eligible for the fuel input tax credit, if you are purchasing a vehicle.

Can my business finance mining equipment from offshore?

Yes. Your business can finance mining equipment manufactured locally, interstate, internationally, through dealers, second-hand sales, or auctions.

I need a mining equipment lease. I also want to hedge on keeping the equipment. Is this an option?

Yes. Some businesses need to keep their mining equipment if the project is extended or leveraged into another site. A mining equipment finance lease gives a business an option to buy out the equipment once the lease is finished. The business will buy out the equipment much like a balloon payment in a loan – paying for the residual value. In some cases, this residual value payment can also be amortised (paid off in instalments) as a type of loan.

I need a lease for a short-term mining contract. Is this available?

Yes. We can tailor a mining equipment lease that suits your requirements. Talk to your loan consultant for more information.

My business is a start-up. Can I apply for mining equipment finance?

Yes. We can help new businesses gain mining equipment finance. Talk to a consultant for more information.

Need mining equipment finance? Find out what suits your business

Chattel mortgage or hire purchase

chattel mortgage or hire purchase is a type of secured loan that allows businesses to purchase equipment. The main difference between the two is that a chattel mortgage gives ownership to the business immediately; a hire purchase classifies repayments as operating costs until the loan is paid off. Both allow you to take advantage of savings on GST, depreciation, and the instant asset write-off. Chattel mortgages are cash flow neutral; you can borrow more than your equipment’s value.

Operating lease

Operating leases give businesses a way to gain access to mining equipment by hiring the equipment with monthly or fixed-term repayments across a lease term up to 7 years. Operating costs are deducted as expenses and the equipment is returned to the dealer or financier at the end of the lease. Operating leases are ideal for businesses that use “off book” accounting methods. Ask your financial controller or accountant to see if operational leases are right for your mining business.

Finance lease

Finance leases are flexible leasing options that gives your mining operation the option to buy the equipment at the end of the lease. You can pay out the residual value and take ownership of the equipment. You may also hand the equipment back or start a new lease with new or different equipment. A business can also take advantage of tax deductions in the same way as chattel mortgage/hire purchases except for the GST portion.


Some mining equipment can be purchased through rent-to-own agreements. These are flexible options, especially for customers with bad credit rating. A mining company rents equipment, the cost of which is put toward buying the equipment. If you decide you do not require the equipment, you may hand the equipment back without penalty. In this instance, any payments you have made toward the equipment will be forfeit.

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