Construction Enquipment NewsConcrete Pump

Recently we had the opportunity of providing Concrete Pump Finance to a customer that was looking to purchase an additional pump.

Our client is very busy working on site most of the time and requested that we made the finance process as easy as possible. After our initial assessment of the client’s situation, it was determined that the client had finance on other Machinery for the past two years. We advised the client that we could get this deal through on a low doc basis as long as the following conditions could be met:

  •  current loan contract (over any type of equipment) for at least 12 months with good payment history (yes)
  • did the client have an interest in property with sound equity (yes)
  • did the clients company hold an ABN with GST registration for two years (yes)
  • were the goods being purchased through a licenced dealer (yes)
  • was the purchase price of the Concrete Pump under $500K (yes)

Based on the fact that the above conditions could be met, we were able to proceed toward a speedy finance approval without any fuss to the client – allowing them to concentrate on supervising workers on the job site.

Why was this low doc option beneficial to our customers seeking Concrete Pump Finance

If the above mentioned conditions could not be met, it would mean we would had to have requested the client’s last two years financial statements from their accountant. If financials are to be used to assess an application, the following issues might arise that could complicate the approval process;Concrete Pump


  • Serviceability can be an issue – ie the net profit figure might not comfortably service all facilities held by the company
  • Accountant may delay the process by taking a long time to email us the financial statements
  • The balance sheet on the financials could highlight additional commitments that need to be included in the servicing exercise
  • The balance sheet on the financials will show any outstanding debt that might be in existence


As no financials were required in this particular instance and client met the low doc conditions, approval was 100% guaranteed.

When using financial statements to assess a deal relating to Concrete Pump Finance, there will be a lot more information requested from the Credit Analyst looking at the deal – and it is lot harder to hide than under a low doc scenario where no financials are required.


But it is not all bad news if a client does not meet all criteria for low doc. The team at Heavy Vehicle Finance have specialist skills when analysing financial statements and can therefore present all of the necessary mitigating arguments to Credit in order to achieve the desired outcome for the client.

In summary


The low doc option is an easy stress free way of seeking finance approval for our clients. Even if our customers do not meet the low doc option relating to this Concrete Pump Finance deal, we can look at either requesting client financial statements or to explore other low doc options. Based on the fact that we specialise in Construction Equipemnt Finance, we have many options available and therefore can achieve a 95% approval rate for our clients.


No lending scenario is too complex for us, so if you are looking for fast Concrete Pump Finance, you can apply online for instant pre-approval or you can call on 1300 788 740 to discuss your funding scenario.