dsl-logo

Home Loans

Personal Loans

Car Loans

Business Loans

Credit Cards

Banking

dsl-logo
dsl-logo

Home Loans

Personal Loans

Car Loans

Business Loans

Credit Cards

Banking

Background

Best Fit Out Finance Options

  • Compare the best fit out finance options from 50+ lenders in 60 seconds.

Enter loan amount

$

Fit Out Finance with Money Matchmaker

Just some of the 50+ business lenders we compare

What is fit out finance?

Fit out finance is a type of business loan used for refurbishment, relocation, and redevelopment of businesses in Australia. Fit out loans are used by a variety of businesses to finance everything from electrical work to signage, furniture, and HVAC systems.

Fit out finance can be used for almost any business refurbishment, and is utilised by a wide range of businesses and franchises in Australia, for example:

  • Shop fit outs
  • Restaurant fit outs
  • New office fit outs
  • Warehouse and factory fit outs
  • Medical practice fit outs

It can finance both major and minor refurbishments. It's commonly used to completely revitalise existing spaces, rebrand following a change of ownership, or upgrade existing fit outs following periods of significant business growth.

Depending on the type of business, borrowers can access up to 100% of the fit-out cost for their new or existing business or franchise.

If fitting out a new premises involves acquiring new equipment, funding that through business equipment finance could also be an option.

Need fast access to finance or a one-time credit facility?

How does fit out finance work?

  • Available from banks, specialist lenders and through finance brokers
  • Loan amounts up to $1 million
  • Terms from 1 month to 5 years
  • Finance can be secured of unsecured
  • Application process will depend on the lender and loan amount
  • You may need to provide the lender with a business plan to support your application

Fit out finance for different business types

Shop fit out finance provides funds you need to completely refurbish and set up your new shop or retail store. This can include display cabinets, clothing racks, front-of-house and sales counters, changing rooms, and much more.

You can use shop fit out finance to purchase:

    circle-green-tick
  • Clothing racks and displays
  • circle-green-tick
  • Display cabinets
  • circle-green-tick
  • Internal walls and doors for changing rooms
  • circle-green-tick
  • EFTPOS machines and facilities
  • circle-green-tick
  • HVAC (heating, ventilation and air-conditioning) units
  • circle-green-tick
  • Sales and front-of-house counters
  • circle-green-tick
  • Tiling, carpet, or other flooring
  • circle-green-tick
  • Lighting, electrical work and fittings
  • circle-green-tick
  • Furniture such as couches, chairs and tables
  • circle-green-tick
  • Kitchen equipment for staff areas
  • circle-green-tick
  • Branded signage and front-of-store signage
  • circle-green-tick
  • Security systems

Restaurant fit out finance can fund everything you need for your new cafe or restaurant. For example, you can use a restaurant fit out loan to purchase kitchen and front-of-house equipment, and even use it to decorate your space with artwork and dining tables.

Restaurant fit out finance allows you to purchase:

    circle-green-tick
  • Furniture such as couches, chairs and tables
  • circle-green-tick
  • Staff benches and counters
  • circle-green-tick
  • Sales and front-of-house counters
  • circle-green-tick
  • Lighting, electrical work and fittings
  • circle-green-tick
  • Kitchen appliances such as dishwashers or fridges
  • circle-green-tick
  • Kitchen installations such as cabinets and drawers
  • circle-green-tick
  • Glassware and storage areas
  • circle-green-tick
  • Toilets and sinks
  • circle-green-tick
  • Tiling, carpet, or other flooring
  • circle-green-tick
  • Cold storage rooms
  • circle-green-tick
  • Branded signage
  • circle-green-tick
  • Security monitoring systems
  • circle-green-tick
  • Artwork
  • circle-green-tick
  • HVAC units
  • circle-green-tick
  • EFTPOS machines and facilities

Fit out finance is commonly used by individuals buying a franchise. Franchise premises commonly require refurbishment every 5 - 10 years. Usually the franchisor does not assist in funding this.

New owners of an existing franchise will often rebrand or purchase new equipment. This means costs for signage, upgraded staff facilities and more. You can read more about this in our guide on purchasing an existing business and franchisee finance.

New office fit out finance is ideal for gaining the necessary funding to completely set up your new office space. If you are planning to time your relocation with an update to your business branding, you can use funds to create branded signage, break-out rooms or meeting areas with internal walls.

New office fit out finance can allow you to purchase:

    circle-green-tick
  • Employee workstations and desks
  • circle-green-tick
  • Drawers and cabinets
  • circle-green-tick
  • Printers and Photocopiers
  • circle-green-tick
  • Rugs
  • circle-green-tick
  • Standing desks and whiteboards
  • circle-green-tick
  • IT infrastructure — including cabling and Wi-Fi extender systems
  • circle-green-tick
  • Internal walls within an office — including meeting rooms or break-out rooms
  • circle-green-tick
  • Tiling, carpet, or other flooring
  • circle-green-tick
  • Lighting, electrical work and fittings
  • circle-green-tick
  • HVAC units
  • circle-green-tick
  • Security systems
  • circle-green-tick
  • Branded signage
  • circle-green-tick
  • Artwork
  • circle-green-tick
  • Furniture such as couches, chairs and tables
  • circle-green-tick
  • Bathrooms — including showers, toilets and washbasins

In Australia, medical professionals are often able to access fit-out finance by using their medical practice as equity — this prevents needing to provide residential property as security.

In general, most medical professionals that meet these criteria will need to be certified by the Australian Health Practitioner Regulation Agency (AHPRA), and can borrow up to 100 per cent of the fit-out costs required.

Medical professionals who may be able to apply using medical practice equity include:

    circle-green-tick
  • Doctors
  • circle-green-tick
  • Dentists
  • circle-green-tick
  • Physiotherapists
  • circle-green-tick
  • Veterinarians

While doctors — including GPs and specialists — can meet the approval criteria without a minimum time in practice, all other medical professionals will need to have been in their profession for a minimum of three years.

Lenders will also request that you provide a minimum financial history of one year to approve applications greater than $500,000.

How to qualify and apply for fit out finance

Qualifying for a fit out loan is relatively simple. Most lenders will be able to offer you fit out finance options if you have:

  • Been trading for at least 9 months; and
  • Have an ABN (Australian Business Number); and
  • Are registered for GST

While most lenders will prefer you have been actively trading for a minimum of 9 - 12 months, you can still apply and get approved for fit out finance if you have been trading for less than 9 months.

Fit out finance falls under the same application process as other types of equipment finance. You’ll qualify for fast approval using a streamlined application process if you are applying for finance up to a total value of $100,000 and you:

  • Have been in business 24 months; and
  • Have an ABN; and
  • Are registered for GST; and
  • Own a home; and
  • Have no major issues in your credit report

If you fall outside the above criteria, or are wishing to apply for a fit out loan greater than $100,000, the application process will be much the same albeit longer and requiring a greater amount of supporting documentation to gain approval.

Documents lenders require for fit out finance

Before applying for fit out finance, you’ll want to research lenders and get a firm understanding of the required documentation. Although some types of documentation will remain consistent between lenders — such as proof of identity — the depth of others may vary.

In general, you will need to supply a range of supporting documents, such as:

  • Proof of identity
  • Financial records for the previous 2 - 3 years (provided by your accountant)
  • Profit and Loss Statements
  • Balance Sheet
  • Details of your fit out purchases
  • Business bank statements
  • Rates notice (if you own a home)
  • Rental agreement (if you are renting)

Lenders will often request a business plan when assessing fit-out finance loans. This is to illustrate how you expect your business to perform over the next few years (the term of the loan) and how the fit out loan will assist in adding value to your business to increase profits and cash flow.

Ready to compare?

Get your best offers from multiple lenders. There's no obligation and checking your rates won't impact your credit score.

Compare the best business loan options

The type of finance that will suit best depends on your business, what it needs funds for and how soon.

FAQs about business fit out finance

Most lenders will be able to consider your application for fit out finance if you have been trading for a minimum of 9 months, have an Australian Business Number, and are registered for GST.

Fit out finance amounts will vary between lenders, and will generally be assessed in relation to your level of risk as a borrower. Specialist lenders will offer loans from $5,000 up to $500,000.

Fit out finance applications will require you to supply proof of identity, financial records provided by your accountant, and details of the assets or fittings you wish to purchase — they may additionally require a business plan to support your application.

Fit out finance can be used for all types of office, warehouse, and store refurbishments. This includes electrical work, office furniture, security systems, EFTPOS facilities, and much more.

Shaun McGowan is the founder of Money.com.au. He's determined to help people and businesses pay as little as possible for financial products, through education and building world class technology. Previously Shaun co-founded CarLoans.com.au and Lend.

Sean Callery is the Editor of Money.com.au. He has over 15 years of international experience. He is qualified with a Certificate IV in Finance and Mortgage Broking (FNS40821) and is compliant to provide general advice in Tier 1 General Insurance (RG 146) products.

logo

Our Money Promise

Money Pty Ltd (trading as Money) (ABN 42 626 094 773) Australian Credit Licence 528698 provides information about credit products. Money does not compare all products or issuers available in Australia. We are not a broker or credit provider and when we provide information via this website, we are not providing you with a recommendation or suggestion about a particular credit product. We may receive a commission when you apply for a home loan as a result of outbound links on this website.

This material has been prepared by Money Pty Limited (ABN 40 664 954 536) (Money, ‘us’ or ‘we’). Money is a corporate authorised representative (CAR 001307399) of 62 Consulting Pty Limited (ABN 88 664 809 303) (AFSL 548573) (62C). The material is for general information only and is not an offer for the purchase or sale of any financial product or service. The material is not intended to provide you with financial or tax advice and does not take into account your objectives, financial situation or needs. Although we believe that the material is correct, no warranty of accuracy, reliability or completeness is given, except for liability under statute which cannot be excluded. Please note that past performance may not be indicative of future performance and that no guarantee of performance, the return of capital or a particular rate of return is given by 62C, Money, any of their related body corporates or any other person. To the maximum extent possible, 62C, Money, their related body corporates or any other person do not accept any liability for any statement in this material.

The information on this website is intended to be general in nature and has been prepared without considering your objectives, financial situation or needs. You should read the relevant disclosure statements or other offer documents prior to making a decision about a credit product and seek independent financial advice. Whilst Money.com.au endeavours to ensure the accuracy of the information provided on this website, no responsibility is accepted by us for any errors, omissions or any inaccurate information on this website.

Interest rates, fees and charges are subject to change without notice. Before acting on any information, you should confirm the interest rates, fees, charges and product information with the provider. For clarity, where we have used the terms “lowest” or “best” these relate solely to the rates of interest offered by the provider and not on any other factor. The application of these terms to a particular product is subject to change without notice if the provider changes their rates.

The calculator provided on money.com.au is intended for informational and illustrative purposes only. The results generated by this calculator are based on the inputs you provide and the assumptions set by us. These results should not be considered as financial advice or a recommendation to buy or sell any financial product. By using this calculator, you acknowledge and agree to the terms set out in this disclaimer. For more detailed information, please review our full terms and conditions on the website.

Assumptions:

  • The calculations do not account for changes in interest rates or other market conditions that may occur.
  • Results are approximations and may differ from actual payment schedules or amounts.
  • The calculator does not include all fees and charges that you may incur in relation to a financial product.

Limitation

  • This calculator does not guarantee the availability of any financial product or the accuracy of the calculations. Please consult a financial advisor or the relevant product provider to obtain specific advice tailored to your circumstances.
  • money.com.au does not accept any liability for errors or omissions, or for any loss you may suffer as a result of relying on these calculations.
Money Pty Ltd trading as Money

ABN: 42 626 094 773 / ACL: 528698 / AFCA: 83955
Money is a corporate authorised representative (CAR 001307399) of 62 Consulting Pty Limited (ABN 88 664 809 303) (AFSL 548573) (62C)
aboriginal-and-torres-strait

Money acknowledges Aboriginal and Torres Strait Islanders as the traditional custodians of country throughout Australia and their continuing connection to land, waters and community.

© Copyright 2024 Money Pty Ltd.