What’s the difference between financing through you versus going directly to a bank?

Banks offer one product: their own. We offer access to 40+ lenders, which means:

• We find the lender that actually wants crane business (not all do)
• We match your situation to the right lender’s appetite
• We negotiate on your behalf with industry knowledge and leverage
• We explain the crane industry to the bank – you don’t have to

More importantly, banks don’t specialise in cranes. They don’t understand that cranes are unique, high-risk assets with specific earning potential. They won’t jump on calls with your German supplier at 10pm. They won’t visit your site to understand your operation. They likely won’t answer the phone on Saturday when you need them.

Chris Burke’s perspective: “I wouldn’t trust a number of operators in our industry. But if you’re ethical and trustworthy, that goes a long way.” That’s what sets specialist brokers apart from faceless bank processing.

Still have questions? Every crane purchase is different, and we’d rather have a conversation about your specific situation than give you generic answers. Our crane specialists are here to help.

Do you finance cranes for startups or first-time crane businesses?

Yes, though the approach is different than for established operators. For startup crane businesses, lenders focus heavily on:

• Director experience in the crane industry
• Secured work or contracts for the crane
• Deposit or additional security available
• Realistic business projections and understanding of the market

If you’re an experienced crane operator going out on your own, your personal track record carries weight. If you’re new to the industry, you’ll need strong business fundamentals, mentorship, and solid work pipeline to get approved.

Starting smaller and building runs on the board is often the best approach. Finance your first crane, prove the business model, then bigger conversations happen. There’s no replacement for time and trust.

Can I refinance an existing crane loan?

Yes, refinancing can make sense in several situations:

• Interest rates have dropped since your original finance
• You want to release equity from the crane for other business needs
• Your original lender’s terms are too restrictive
• You want to consolidate multiple crane loans into one facility

We can assess whether refinancing makes financial sense for your situation. Sometimes it does, sometimes it doesn’t – we’ll give you the straight answer either way.

What if my crane needs major repairs during the finance term?

This depends on your finance structure and the nature of repairs. For owned cranes (chattel mortgage or hire purchase), you’re responsible for maintenance and repairs – though you may have warranty coverage for newer equipment or manufacturer support for certain issues.

If unexpected major repairs threaten cash flow, we can sometimes explore refinancing options or additional equipment finance to spread the cost. The key is communication – if you’re facing challenges, talk to us early. We’ve been through tough times with customers before (COVID being the prime example). We’re here to help find solutions, not add to your stress.

Can I add attachments and accessories to the finance?

Yes. Jibs, winches, spreader bars, remote controls, and other essential attachments can typically be included in your crane finance. It often makes sense to finance the complete package rather than finding separate funding for attachments – especially for specialised equipment that’s specific to your crane.

We can also include delivery costs, compliance certifications, and initial servicing in many cases. Talk to us about what you need,  we’ll structure the finance to cover your complete setup, not just the base crane.

What’s the typical interest rate for crane finance?

Interest rates vary based on multiple factors: your business strength, crane type (new vs. used), deposit amount, term length, and current market conditions. As a guide, rates typically range from [X%] to [X%] for established operators with standard crane purchases.

However, rate isn’t everything. A slightly higher rate with better terms, longer approval timeframes, or more flexibility may be better for your business. We have access to 30+ lenders, so we’re finding the best overall package – not just the lowest rate that comes with impossible conditions.

Do I need crane operator licences to get finance?

While you don’t personally need to hold crane licences to get finance approval, lenders want assurance that your crane will be operated safely and legally. For wet hire businesses, this means having qualified, licensed operators. For dry hire, we need to understand your client base and how you ensure equipment is operated properly.

Safety and compliance matter to lenders because they reduce risk. If you’re an experienced operator with proper systems and qualified personnel, this works in your favour during the assessment process.

Can I finance imported cranes?

Yes, we regularly finance imported cranes from European, Asian, and North American manufacturers. Import finance adds complexity – currency fluctuations, international timelines, overseas supplier coordination, Australian compliance requirements – but we manage all of this for you.

We’ve jumped on Teams meetings with German suppliers at 10pm Australian time. We understand the import process, typical delivery timelines, and how to structure finance that coordinates with your deposit and delivery schedule. If you’re importing a crane, you want a broker who’s done it before.

How long does crane finance approval take?

For straightforward applications with complete documentation, we can often get conditional approval within 24-48 hours. Full formal approval typically takes 3-5 business days. Complex transactions or larger crane purchases may take 1-2 weeks.

The advantage of working with crane specialists? We know what lenders need to see before we submit. Our industry knowledge means fewer questions, less back-and-forth, and faster decisions. We’re not learning about cranes while processing your application – we already know the industry inside out.

What documents do I need for crane finance approval?

For established businesses, we typically need:

• Last 2 years of financial statements (or tax returns for newer businesses)
• Recent management accounts or bank statements
• Details of the crane (make, model, capacity, supplier quote)
• Information about your work pipeline and how the crane will be utilised
• Directors’ identification

For newer operators or first crane purchases, we may need additional information about contracts, experience, and business plans. We’ll guide you through exactly what’s required – no surprises.

Can I finance a used crane?

Absolutely. We finance both new and used cranes – and unlike many lenders, we don’t have arbitrary age cutoffs. We assess used cranes based on condition, service history, remaining operational life, and most importantly, your business case. If you’re an experienced operator with proven work and the crane makes commercial sense, we’ll find a way to finance it. Used crane terms typically range from 3-5 years depending on the crane’s age and condition.

How much deposit do I need for crane finance?

There’s no hard and fast rule that you need a deposit, especially if you have an established business with strong fundamentals. While deposits are common on first cranes or larger machines (they help de-risk the transaction for lenders), we can often structure finance with no cash deposit by using other security, demonstrating strong forward work pipeline, or adjusting terms and structure. Cash isn’t the only way to show commitment. If you’d rather keep working capital in the business, talk to us about alternatives.