Broker guide
Emu Money Equipment Finance: How It Works
Emu Money compares equipment-finance offers. Identify the actual lender, documents and finance structure before comparing the client’s terms.
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Emu Money equipment finance is an arranging service that compares offers from a lender panel for business equipment purchases. The credit provider named in the finance offer supplies the facility and its terms. When reviewing a client’s proposal, identify that provider before comparing the repayment or recommending a structure.
Emu Money’s equipment-finance page describes an application process that matches business details with lender offers. It lists chattel mortgage, hire purchase and finance lease options. The client’s actual offer determines which structure and conditions apply.
Arranger and Lender Roles
Emu Money helps arrange the finance, while the named lender or lessor is the party providing the loan or equipment lease. Keep those roles separate in the client file.
Its Credit Guide identifies Emu Money as an authorised credit representative of Access Lending Group. The guide describes helping clients select a loan or lease. It also says Emu Money does not compare all Australian lenders or products.
Read the proposal and contract for the provider’s full legal name. An Emu Money logo on the introduction doesn’t establish who lends the money. The equipment supplier is another separate party, even when it introduced the client to the arranging service.
Record who handles the application and who issues the finance contract. Then identify the party responsible for settlement, repayments and payout requests. Where another organisation services the facility, retain that relationship alongside the provider’s identity.
Emu Money’s Credit Guide says a service fee, if charged, is disclosed in its Credit Quote before the application. It also describes provider commissions and third-party fees disclosed in the Credit Proposal. Include those documents in the comparison so the client’s cost isn’t reduced to the advertised interest rate.
Equipment and Business Evidence
Collect enough equipment and business evidence to connect the requested funds to the asset being bought and the borrower making the repayments. The chosen provider’s document request determines what the application must contain.
Start with a supplier quote or invoice that identifies the equipment, purchase price and seller. Record whether the asset is new or used and whether installation is included. For identifiable machinery or vehicles, retain available model and serial details so the invoice and finance schedule describe the same asset.
Build the application record around the actual borrower:
- Legal entity, ownership and Australian Business Number (ABN).
- Trading history, business activity and intended use of the equipment.
- Financial statements or the alternative income evidence the provider accepts.
- Recent business bank statements and existing debt commitments.
- Client contribution, trade-in proceeds and any amount still owed on a replaced asset.
Emu Money advertises reduced-documentation pathways, but that doesn’t establish the evidence requirements for a particular offer. Distinguish an initial request for a quote from the documents needed for assessment and settlement.
For an example of a lender’s evidence categories, Westpac’s business loan application guide lists financial statements, business tax returns and bank statements. That is Westpac’s guidance, not an Emu Money panel-wide requirement. Use the provider named in the client’s proposal to settle the document list.
Compare the Structure and Offer
Compare each offer by ownership, total payments and the obligations that remain at the end. Emu Money’s advertised product categories help identify options, but the provider’s contract defines the facility.
| Structure | Ownership during the term | What to establish from the offer |
|---|---|---|
| Chattel mortgage | The business owns the equipment, subject to the lender’s security | Secured asset, repayment schedule and any final balloon |
| Hire purchase | The financier owns the equipment until ownership transfers under the agreement | Final payment and ownership-transfer conditions |
| Finance lease | The financier owns the equipment during the lease | Rentals, residual obligations and permitted end-of-term options |
Westpac’s equipment-finance explanation distinguishes these ownership arrangements. It is an illustration of provider terms, not evidence that Westpac funds a particular Emu Money proposal. Don’t assume that an option to return or buy equipment applies under every lease.
For the actual offer, compare the following items on the same basis:
- Amount financed after the deposit or trade-in, including any financed fees.
- Payment amount, frequency and whether payments fall in advance or arrears.
- Contract term, final balloon or residual and the conditions attached to it.
- Upfront and ongoing fees, plus the method for calculating an early payout.
- Equipment security, additional security and personal guarantees.
- Insurance and maintenance obligations, including any settlement conditions.
A lower regular payment can leave a larger final obligation. In a hypothetical comparison, 60 monthly payments of $1,000 plus a $15,000 balloon total $75,000. Sixty payments of $1,200 with no balloon total $72,000.
That example excludes deposits and fees and assumes both offers fund the same equipment purchase. Compare the full payment schedules before treating the lower monthly payment as the cheaper option. Assess how the client will meet the balloon without assuming a future refinance or sale will cover it.
Keep advertised rates and funding times separate from a written approval. Record the client-specific rate and all outstanding conditions. Confirm that settlement timing fits the supplier’s delivery and payment requirements before the client commits to purchase.
Keep the Provider Record Clear
Keep the executed provider contract and settlement evidence after the introduction, so the client’s ongoing obligations remain clear. The arranging service’s quote alone doesn’t document the final facility.
Retain the proposal and relevant fee disclosures with the signed contract. Add the asset schedule, final supplier invoice and evidence of the client’s contribution. Record settlement confirmation and any required insurance evidence.
Keep the final repayment schedule with the direct debit instructions and the provider’s servicing contact. The record must identify the first payment, regular amount and any balloon or residual. If the final contract differs from the quoted proposal, update the comparison and explain the difference to the client.
Use that final schedule in the client’s cash flow assessment. Record who will handle future payout or contract questions, and keep a copy of any agreed changes. Before closing the file, reconcile the financed amount, supplier payment and repayment schedule to the executed agreement.
