Azora Asset Finance Review: Non-Bank Equipment & Asset Lending Guide

Quick Answer

Azora Asset Finance is a non-bank specialist lender in Australia, providing flexible equipment and asset finance solutions for businesses that may not fit traditional bank lending criteria. They typically offer chattel mortgages, commercial hire purchase, and finance leases for a wide range of assets, from heavy machinery to commercial vehicles and fit-outs. In 2025, non-bank lenders like Azora often provide indicative rates from 9-15%+ p.a. (indicative only) with loan terms of 1-5 years, catering to newer businesses, those with limited financials, or complex scenarios. Modern comparison platforms like Loan Phone can help businesses assess Azora’s offerings alongside 100+ other lenders, including major banks and other specialist financiers, ensuring access to competitive terms and expert guidance.

Rates are indicative examples only. Actual rates depend on individual circumstances, lender assessment, and current market conditions. Non-bank lenders typically have higher indicative rates than major banks but offer greater flexibility.

1. Introduction: Navigating Non-Bank Equipment Finance

For Australian businesses looking to acquire essential equipment, vehicles, or technology, securing the right finance is paramount. While major banks like CBA, NAB, and Westpac are often the first port of call, their stringent lending criteria can sometimes leave growing businesses, startups, or those with unique financial situations seeking alternatives. This is where non-bank lenders, such as Azora Asset Finance, step in, offering specialised and often more flexible solutions.

In 2025, the Australian lending landscape is diverse, with a significant rise in specialist non-bank financiers catering to specific market niches. Understanding these options, including the offerings of Azora Asset Finance, is crucial for making informed decisions that align with your business’s growth trajectory and financial health. This guide provides a comprehensive review of Azora Asset Finance, detailing its services, target audience, and how it compares to other finance options, all while helping you navigate the complexities of asset lending in Australia.

2. What is Azora Asset Finance?

Azora Asset Finance is a non-bank lender operating in the Australian market, specialising in providing equipment and asset finance solutions for businesses. Unlike traditional banks that often have broad product portfolios and rigid lending policies, Azora focuses specifically on asset finance, allowing them to offer more tailored and flexible solutions. They are known for their ability to assess applications beyond standard credit scores and financial statements, considering a business’s operational strength, industry experience, and the specific asset being financed. This approach makes Azora Asset Finance a viable option for businesses that might find it challenging to secure funding from conventional sources.

3. Who is Azora Asset Finance For?

Azora Asset Finance typically caters to a specific segment of the Australian business market. They are often a strong fit for:

• Newer Businesses (under 2 years trading): Many traditional banks require a minimum of two years of trading history. Non-bank lenders like Azora may consider businesses with less history, provided there’s a strong business plan, good credit history from directors, or substantial industry experience.
• Businesses with Limited Financials: For sole traders, startups, or businesses that haven’t yet built up extensive financial statements, Azora may offer low-doc or no-doc asset finance options, focusing on alternative indicators of repayment capacity.
• Businesses with Complex Scenarios: If your business has unique assets, fluctuating income, or a less-than-perfect credit history, Azora’s specialist assessment criteria can be more accommodating than standard bank policies.
• SMEs Seeking Flexibility: Businesses that value speed, personalised service, and flexible loan structures (e.g., seasonal repayments, specific balloon payment options) often find non-bank lenders more responsive.
• Specific Asset Types: While they finance a broad range, non-bank lenders can be particularly adept at financing niche or highly specialised equipment that banks might classify as higher risk.

4. Types of Asset Finance Offered by Azora

Like most specialist asset financiers, Azora Asset Finance typically offers a range of structured finance products designed to help businesses acquire income-generating assets. These usually include:

Chattel Mortgage

A chattel mortgage is a popular choice for Australian businesses, particularly those registered for GST. Under this structure, the business owns the equipment from the outset, while the lender holds a ‘mortgage’ or security over the asset until the loan is repaid. This often allows businesses to claim the full GST input tax credit upfront and potentially claim depreciation and interest as tax deductions. Find out more in our Chattel Mortgage Guide.

Commercial Hire Purchase (CHP)

Commercial Hire Purchase is another common structure where the lender purchases the equipment on behalf of the business, then ‘hires’ it to the business over a set term. At the end of the term, once all payments are made, the business takes ownership. CHP can offer GST advantages by spreading the GST component across repayments, and the asset can be depreciated over its effective life. For detailed information on similar commercial solutions, explore commercial equipment loan options.

Finance Lease

A finance lease involves the lender purchasing the asset and leasing it to the business for a fixed period. The business makes regular lease payments and has the option to purchase the asset at the end of the term for an agreed residual value, extend the lease, or return the equipment. Lease payments are typically tax-deductible, and this option can be attractive for businesses looking to preserve capital and manage cash flow.

5. Azora Asset Finance vs. Traditional Banks

The choice between a non-bank lender like Azora Asset Finance and a major bank largely depends on your business’s specific needs and financial profile. Here’s a comparison of typical scenarios:

While major banks often offer lower indicative rates for prime borrowers, non-bank lenders like Azora fill a vital gap by providing access to finance for a wider range of businesses. Modern comparison platforms like Loan Phone allow you to easily compare business loan options from both types of lenders to find the best fit.

6. Indicative Rates, Terms, and Eligibility with Azora

It’s important to remember that specific rates, terms, and eligibility criteria for Azora Asset Finance, like any lender, are subject to individual assessment. The following are general guidelines typical of non-bank specialist lenders in Australia in 2025.

Interest Rates

Non-bank lenders typically price risk differently from major banks. For Azora Asset Finance, indicative rates often range from 9% to 15%+ p.a. (indicative only). This range can be higher than major banks, reflecting the increased flexibility and willingness to finance higher-risk profiles (e.g., newer businesses, complex assets). Factors influencing your rate include:

• Business Age and Trading History: Newer businesses generally face higher rates.
• Financial Strength: Revenue, profitability, and existing debt levels.
• Asset Type: The nature, age, and resale value of the equipment being financed.
• Industry Sector: Some industries are perceived as higher risk.
• Director’s Credit History: Personal credit scores of business owners.

Loan Terms

Typical loan terms offered by Azora Asset Finance range from 1 to 5 years. Shorter terms often result in higher monthly repayments but lower overall interest paid, while longer terms reduce monthly repayments but increase the total cost of the loan. Some flexibility, such as balloon payments (a lump sum repayment at the end of the loan term), may also be available to reduce regular instalments.

Eligibility Criteria

While more flexible than banks, Azora Asset Finance will still have core eligibility requirements, which may include:

• Australian Business Number (ABN): Essential for any business finance. Explore ABN finance options.
• Minimum Trading History: While flexible, typically a few months to 1-2 years is preferred, though some solutions may exist for brand-new entities.
• Clear Credit History: While not as rigid as banks, a history of defaults or severe credit issues may impact eligibility or rates.
• Asset Purpose: The equipment must be primarily for business use (typically 51%+).
• Asset Value/Type: Minimum loan amounts apply, and the asset itself will be assessed for its value and suitability as security.

Eligibility criteria may vary by industry and specific product. If you’re unsure, speaking with a specialist broker can help clarify your options.

7. The Azora Application Process: What to Expect

The application process with a non-bank lender like Azora Asset Finance is typically designed to be more streamlined and efficient than with traditional banks. While specific steps can vary, here’s a general outline:

1. Initial Enquiry: You can reach out directly or, more efficiently, use a comparison platform like Loan Phone to submit an initial enquiry. This helps match your needs with suitable lenders, including Azora.
2. Information Gathering: You’ll provide basic business details, information about the equipment you wish to finance, and some financial documentation. For low-doc options, this might involve bank statements rather than full financial reports.
3. Assessment: Azora’s team will assess your application, often focusing on the asset itself, your business’s operational capacity, and the directors’ credit history. This assessment is often faster than bank processes.
4. Offer & Approval: If approved, you’ll receive a finance offer outlining the terms, rates, and repayments.
5. Documentation & Settlement: Once you accept the offer, documentation will be prepared for signing. Upon completion, funds are typically transferred to the equipment vendor.

Although each lender has different timeframes and your circumstances will vary, our streamlined system allows you to get approved on an apples-for-apples basis much quicker than any other broker or direct bank option.

8. Advantages of Choosing a Non-Bank Lender like Azora

Opting for a specialist non-bank lender like Azora Asset Finance can offer several distinct advantages for businesses in Australia:

• Increased Flexibility: Non-bank lenders often have more flexible lending criteria, making finance accessible to a wider range of businesses, including newer ones or those with less conventional financials.
• Faster Approvals: Their streamlined processes and niche focus can lead to quicker application assessments and approval times, crucial when you need equipment urgently.
• Tailored Solutions: They are often more willing to customise loan structures, such as offering seasonal repayments or tailored balloon payment options to match your business’s cash flow.
• Specialist Expertise: Non-bank lenders focus solely on asset finance, giving them deep expertise in specific equipment types and industry sectors.
• Access to Capital: They provide a vital source of capital for businesses that may have been declined by traditional banks, helping them grow and invest in essential assets.
• Less Documentation: Many non-bank lenders offer low-doc options, simplifying the application process and reducing the administrative burden.

9. Potential Considerations with Non-Bank Finance

While offering significant benefits, it’s also important to be aware of potential considerations when choosing a non-bank lender like Azora Asset Finance:

• Higher Indicative Rates: As mentioned, the indicative interest rates with non-bank lenders can be higher than those offered by major banks to their prime customers. This is often a trade-off for increased flexibility and risk appetite.
• Fees and Charges: Always review the full breakdown of fees and charges, including establishment fees, ongoing administration fees, and any early repayment penalties.
• Loan Terms: While flexible, some non-bank lenders might offer slightly shorter maximum loan terms compared to traditional banks for certain risk profiles.
• Reputation and Regulation: Ensure the lender is reputable and operates within Australian financial regulations. Azora Asset Finance, like other legitimate lenders, operates under relevant Australian financial laws.
• Less Brand Recognition: While many non-bank lenders are well-established in their niche, they may not have the same broad brand recognition as major banks. This is where comparison platforms add value by vetting and presenting options.

It is crucial to compare all available options carefully, considering both the rates and the overall value proposition.

10. Comparing Azora and Other Lenders with Loan Phone

Navigating the diverse landscape of Australian asset finance, especially when considering specialist non-bank lenders like Azora Asset Finance, can be complex. This is where Loan Phone provides significant value.

Loan Phone is a modern comparison platform that combines streamlined online comparison with specialist broker expertise. We offer:

• Access to 100+ Lenders: We connect you to a vast network of lenders, including major banks (CBA, NAB, Westpac), specialist equipment financiers like Azora, and other non-bank options. This ensures you see a comprehensive range of solutions.
• Personalised Options: Our platform allows you to quickly compare personalised finance options tailored to your business profile and the specific asset you need, all without impacting your credit score.
• Expert Guidance: Our team of specialist brokers is available to provide human expertise when needed. They can help navigate complex scenarios, explain different finance structures (like Asset Finance Australia), and secure “left-of-centre” solutions that traditional banks might decline.
• Efficient Processing: We streamline the application process, helping you gather necessary documentation and facilitating communication with lenders for faster approvals and settlements.
• Transparency: We provide clear comparisons, allowing you to understand the rates, terms, and conditions of different lenders side-by-side.

Whether you’re looking for equipment finance for a new truck or specialised machinery for your medical practice, comparing options through Loan Phone ensures you’re making an informed decision.

11. Frequently Asked Questions

Speak with Specialists

Need expert guidance on your equipment or asset finance application? Email: loans@loanphone.com.au Website: www.loanphone.com.au

Related Resources

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Last updated: 2025-12-09