Crane Finance

Finance for mobile cranes, tower cranes, crawler cranes and specialised lifting equipment.

Whether you are purchasing a new Liebherr from a dealer or a used Franna through private sale, Sierra Finance gives you access to 50+ lenders who actively write crane transactions.

From $150K pick and carry units through to $2M+ capacity crawlers, we find the right structure for the asset and your operation.

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How Crane Finance Works

Most crane purchases are structured as a chattel mortgage or a finance lease. The right choice depends on how your business is set up, your tax position, and whether you want to own the crane outright from day one or keep payments lower with a residual at the end of the term.

A chattel mortgage gives you ownership from settlement. You claim GST on the purchase price upfront, deduct interest payments, and depreciate the asset over its effective life. This suits established crane hire operators with strong cash flow who want the simplest structure and maximum tax benefit.

A finance lease keeps the lender as the owner during the term. Your lease payments are fully deductible as operating expenses, and GST is spread across the payments rather than claimed in one hit. At the end of the term you can purchase the crane for a pre-agreed residual, refinance, or hand it back. This works well for operators managing cash flow around project cycles or businesses that prefer to keep assets off the balance sheet.

For higher value cranes, particularly tower cranes and large capacity crawlers, lenders often want to see a deposit or additional security. We structure these transactions to minimise what you need to put up front, using existing assets, property equity, or a strong forward work pipeline to satisfy lender requirements without tying up your working capital.

Term lengths for crane finance typically run between three and seven years depending on the age and type of crane, with newer units qualifying for longer terms and lower rates.

What You Can Finance with Crane Finance

Sierra Finance arranges crane finance across all major crane categories:

Mobile cranes are the most common crane finance transaction we see. This includes all terrain cranes, rough terrain cranes, and truck mounted cranes from manufacturers like Liebherr, Tadano, Grove, and Terex. These are the workhorses of civil construction and infrastructure, and lenders are generally comfortable with them because they hold value well and generate income across multiple projects.

Pick and carry cranes such as Franna units are popular with smaller operators and civil contractors who need versatile lifting on site without the setup time of a larger crane. These typically sit at the lower end of the value range ($150K to $400K) and are straightforward to finance for established operators.

Crawler cranes are at the higher end of the value spectrum. These are specialised assets used on major civil works, bridge construction, and resource projects. Finance amounts regularly exceed $1M, and lender appetite is more selective. We work with the lenders who understand crawler cranes and their earning capacity on contracted project work.

Tower cranes are primarily used on high rise construction and large scale development sites. These involve significant capital investment and longer project commitments. Not all lenders have appetite for tower cranes, so having a broker who knows which ones do saves time and avoids unnecessary credit enquiries on your file.

Specialised lifting equipment including loader cranes, carry deck cranes, and marine cranes can also be financed. These serve niche markets, and lender comfort depends heavily on the operator's track record and the specific application.

We finance new and used cranes, dealer and private sales, and domestically sourced and imported units. For used cranes, lenders are generally comfortable with units up to around 10 years old. Beyond that the pool of willing lenders narrows, and you will likely need stronger borrower credentials, a deposit, or additional security to get the file across the line. We know which lenders have appetite for older cranes and can save you the time of shopping a file that keeps getting declined.

For imported cranes, particularly those sourced from Europe or Japan, we handle the additional complexity around currency, shipping timelines, compliance, and coordinating settlement with overseas suppliers.

Who Crane Finance Is For

Crane finance suits any business purchasing lifting equipment for commercial use. The most common borrowers we work with include:

Crane hire companies running wet hire (crane plus operator) or dry hire operations. These businesses are purchasing cranes as income producing assets, and lenders assess the file based on the operator's track record, existing fleet, and forward work pipeline. The structure needs to match how the crane earns, whether that is long term project contracts or shorter term hire arrangements.

Civil construction and infrastructure companies that need in-house crane capability rather than hiring externally. For these businesses the crane is part of a broader equipment fleet, and lenders look at the overall health of the operation rather than the crane in isolation.

Rigging and lifting specialists who provide specialised crane services for industrial shutdowns, heavy lifts, and complex structural work. These operators often run smaller fleets of higher capacity cranes, and the file needs a lender who understands the niche.

Mining and resources companies that need cranes for site construction, maintenance, and material handling in remote locations.

We work with established businesses (two or more years trading) as well as experienced operators starting out on their own. For new ABN holders, lender appetite for crane finance is tighter than standard earthmoving given the higher asset values involved, but if you have industry experience and secured work or contracts, there are lenders who will consider the file. A deposit or additional security strengthens the application considerably for newer operators.

Low doc options are available for borrowers who meet the criteria, typically property owners with clean credit and two or more years of ABN history.

Why Use a Broker for Crane Finance

Crane finance is not the same as financing an excavator or a truck. The asset values are higher, the lender pool is smaller, and the transaction complexity increases significantly when you are dealing with imports, older equipment, or tower cranes with long project timelines.

Going direct to a bank for crane finance means you get one product from one lender. If that lender does not have appetite for the type of crane you are buying, the age of the unit, or the value of the transaction, you get declined and pick up an unnecessary credit enquiry. With 50+ lenders on our panel, we match the file to a lender who actually wants to write cranes, at the best rate available for your circumstances.

We also understand the crane industry well enough to present your file properly. Lenders who are unfamiliar with cranes often undervalue the asset, question the earning capacity, or apply age policies designed for light commercial equipment. A broker who can explain the difference between a 15 year old mobile crane with strong residual value and a 15 year old van saves you time and gets better outcomes.

For imported cranes, a broker manages the coordination between your finance approval, the overseas supplier, shipping, and Australian compliance requirements. Getting the timing wrong on any of these can cost you the deal or leave you with approved finance and no crane, or a crane and no finance.

Get a Free Crane Finance Quote

Compare crane finance options from 50+ lenders with no obligation. Whether you are buying a mobile crane, crawler, or tower crane, we will find the right structure and rate for your operation.

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Getting Crane Finance

Step 1: Tell Us About the Crane

Call us on 0416 960 969 or fill out the form below. We need the basics: what type of crane, new or used, the purchase price, and where you are buying it from. If you are still looking, we can get you pre-approved so you know your budget before you commit.

Step 2: We Match You with the Right Lender

We take your details to the lenders on our panel who actively write crane finance. We handle the application, negotiate the rate, and come back to you with the best option. No unnecessary credit enquiries, no wasted time with lenders who do not have appetite for your file.

Step 3: Settle and Collect Your Crane

Once you accept, we handle settlement and coordinate with the dealer, private seller, or overseas supplier. For straightforward transactions, settlement can happen within 48 hours of approval. For imports, we manage the timing so your finance lines up with shipping and delivery.

Frequently Asked Questions

What types of cranes can I finance?

You can finance virtually any crane used for commercial purposes. This includes mobile cranes (all terrain, rough terrain, truck mounted), pick and carry cranes such as Franna units, crawler cranes, tower cranes, and specialised lifting equipment including loader cranes and carry deck cranes. We arrange finance for new and used cranes from all major manufacturers including Liebherr, Tadano, Grove, Terex, Kobelco, and Zoomlion.

How much can I borrow for crane finance?

Crane finance amounts typically range from $150K for smaller pick and carry cranes through to $2M or more for large capacity crawler cranes and tower cranes. The amount you can borrow depends on the asset value, your business financials, trading history, and the lender's assessment of the transaction. We work with lenders across this full range.

Can I finance a used crane?

Yes. We finance both new and used cranes, including private sales and auction purchases. Most lenders are comfortable financing cranes up to around 10 years old without much friction. For older cranes (15 years and beyond), the pool of willing lenders narrows, and you will typically need a stronger borrower profile, a deposit, or additional security. We know which lenders have appetite for older cranes and can guide you to the right one.

Do I need a deposit for crane finance?

Not always. For established operators with strong financials and a clean credit history, no deposit crane finance is available on many transactions. However, given the higher asset values involved in crane purchases, a deposit can strengthen your application, reduce the rate, and open up more lender options. For newer operators or older cranes, most lenders will expect a deposit or additional security such as property equity.

What is the difference between a chattel mortgage and a finance lease for cranes?

With a chattel mortgage, you own the crane from day one. You claim GST upfront and deduct interest and depreciation over the term. With a finance lease, the lender retains ownership during the term and you make fully deductible lease payments. At the end of the lease you can purchase the crane for a pre-agreed residual, refinance, or return it. The best option depends on your tax position, cash flow, and whether you want full ownership immediately or prefer lower payments during the term.

How long does crane finance approval take?

For straightforward applications with complete documentation, conditional approval can come through within 24 to 48 hours. Formal approval typically takes three to five business days. More complex transactions, particularly those involving higher value cranes, imported equipment, or newer operators, may take one to two weeks. Having your documents ready upfront speeds the process considerably.

Can I finance an imported crane?

Yes. We regularly work with borrowers purchasing cranes from overseas, particularly from European and Japanese manufacturers. Import finance adds complexity around currency, shipping timelines, Australian compliance requirements, and coordinating settlement with the overseas supplier. We manage this process so your finance approval lines up with the shipping and delivery schedule.

What finance term lengths are available for cranes?

Crane finance terms typically range from three to seven years. Newer cranes generally qualify for longer terms and lower rates. Older cranes or specialised units may be limited to shorter terms of three to five years depending on the lender. We structure the term to match the crane's expected earning life and your cash flow requirements, including balloon or residual options to reduce monthly payments.

Is crane finance available for new businesses?

Yes, though lender appetite is tighter for new operators purchasing cranes given the higher asset values involved. If you are an experienced crane operator starting your own business, your personal industry track record carries weight. Lenders will want to see secured work or contracts, a deposit or additional security, and realistic projections. Starting with a smaller crane and building a track record before financing larger capacity machines is often the most practical approach.

Can I finance multiple cranes at once?

Yes. Fleet expansion finance is available for businesses looking to add multiple cranes. This can be structured as separate finance agreements for each crane or as a consolidated facility depending on the lender and the total value. For larger fleet purchases, having a clear plan for how each crane will be utilised strengthens the application.

Does the type of crane affect lender appetite?

Yes, significantly. Mobile cranes and pick and carry cranes are the most straightforward to finance because they are versatile, hold value well, and have a strong secondary market. Crawler cranes and tower cranes attract more scrutiny from lenders due to the higher values and more specialised application. Not all lenders actively write these types of cranes, which is why using a broker who knows which lenders have appetite saves you time and avoids unnecessary credit enquiries.

Can I include accessories and attachments in crane finance?

Yes. Jibs, fly extensions, spreader bars, remote controls, safety systems, and other essential attachments can typically be included in the finance. It makes sense to finance the complete package rather than sourcing separate funding for accessories. Transport and mobilisation costs can also be included in many cases, as can compliance certification expenses.

What documents do I need to apply for crane finance?

For most applications you will need your last two years of financial statements or tax returns, recent bank statements, details of the crane you are purchasing (make, model, capacity, supplier quote), and identification for all directors. For low doc applications, requirements are reduced to basic identification, ABN history, and bank statements. Your broker will advise exactly what is needed based on the lender and the size of the transaction.

Is low doc crane finance available?

Yes. Low doc crane finance is available for borrowers who meet the criteria, typically property owners with clean credit and at least two years of ABN history. Low doc options are most commonly used for transactions up to $500K, though some lenders will go higher with strong supporting evidence such as BAS statements showing consistent turnover. For crane purchases above $1M, most lenders will require full financials regardless.

How does crane finance differ from standard equipment finance?

Crane finance involves higher asset values, a smaller pool of willing lenders, and more complex transactions compared to standard equipment like forklifts or light machinery. Lenders assess cranes differently because the secondary market is more specialised, depreciation profiles vary significantly between crane types, and the borrower's operating model (wet hire, dry hire, or in-house use) affects how they evaluate the file. A broker experienced in crane finance understands these differences and can present your application to the right lender.

Ready to Finance a Crane?

Call us on 0416 960 969 for a same business day response, or fill out the form below and we will be in touch. No obligation, no unnecessary credit enquiries, just the right crane finance option from 50+ lenders matched to your operation.