Frequently Asked Questions
Which types of hospitality equipment can I get finance for?
We’ll finance virtually any type of commercial kitchen equipment that helps your business make a profit. The equipment must have an invoice value of $1,000 or more (Rent–Try–Buy and Custom Equipment Lease) or $10,000 or more (Lease-to-Keep). You can finance either standard equipment (Rent–Try–Buy or Lease-to-Keep).
What do I need to apply for finance?
When you apply for $65,000 or less of Rent–Try–Buy finance, we’ll generally only ask you three things:
• Who you are (driver’s licence and Medicare number).
• The business the equipment is for (Australian business number, or ABN).
• The business address (i.e. where the equipment will be located).
We’ll then run an identification and credit check before giving you a decision on your application. To find out what’s required for applications for more than $65,000 of Rent–Try–Buy finance or for Lease-to-Keep finance or Custom Equipment Lease finance, please contact SilverChef.
How long does it take to get approved for finance?
With Rent–Try–Buy and Custom Equipment Lease, you can get approval for up to $65,000 of hospitality equipment finance in under five minutes (subject to you providing us with the information required and passing an identification and credit check).
If you need more than $65,000, we’ll get back to you within one business day to ask you for additional information; we should be able to give you a decision on your application within three business days.
Lease-to-Keep finance applications are typically assessed within two business days, subject to you providing us with all the information required.
What is Rent-Try-Buy?
Paying with Rent-Try-Buy gives you the flexibility to change, upgrade, or buy at any time. This means you don’t have to lock your cash into equipment purchases upfront—you can keep it available for unexpected business costs.
Rent-Try-Buy offers:
- Finance options for all types of hospitality business including start-ups, catering, cafes, restaurants, bakeries, pubs & clubs
- Flexibility to change, upgrade or buy at any time
- Low weekly payments, 100% tax deductible
- If you buy, SilverChef gives you back 75% of your net rental payments made in the first 12 months to put towards the purchase price
- Fast applications & approvals