🚛 Can Sole Traders Get Horse Float Finance?
Yes! If you’re a sole trader running an equestrian-related business or need a horse float for work, you can apply for business or personal finance. However, lenders will assess your application based on business income stability, financial records, and loan security.
As a self-employed borrower, you may have more flexible finance options, including low-doc loans, secured loans, and business equipment finance.
🏦 Best Horse Float Finance Options for Sole Traders
Here are some finance options suited for sole traders:
| 🔑 Loan Type | How It Works | Best For |
|---|---|---|
| 🚛 Secured Business Loan | Uses the horse float as collateral | Sole traders wanting lower interest rates |
| 📉 Low-Doc Business Loan | Requires minimal financial paperwork | Self-employed borrowers with irregular financial records |
| 💰 Chattel Mortgage | Business-use loan with tax benefits | Sole traders using the float for work or transport |
| 📆 Personal Secured Loan | Uses the float as security for a lower rate | Sole traders needing flexibility between business and personal use |
💡 Tip: If you plan to use the horse float primarily for business, a chattel mortgage could allow you to claim tax benefits on depreciation and interest.
📋 How to Improve Loan Approval Chances as a Sole Trader
Since sole traders don’t have traditional payslips, lenders may require alternative income proof. Here’s how to increase approval chances:
✅ Show Business Income – Use BAS statements, business bank statements, or tax returns.
✅ Apply for a Secured Loan – Using the horse float as collateral reduces lender risk.
✅ Keep Business Debts Low – Lowering your existing loans improves borrowing capacity.
✅ Consider a Low-Doc Loan – If you lack full financials, opt for a low-doc business loan.
✅ Check Your ABN Status – Some lenders require a registered ABN for at least 6–12 months.
💡 Tip: If you’re a new sole trader (less than 12 months in business), a guarantor or larger deposit may improve approval chances.
🏆 Pros & Cons of Horse Float Finance for Sole Traders
✅ Pros:
✔️ Business loans may offer tax benefits on interest and depreciation
✔️ A secured loan can help lower interest rates
✔️ Helps manage cash flow without large upfront costs
⚠️ Cons:
❌ Requires business income proof, which can be harder for new sole traders
❌ Some lenders may require a deposit or extra documentation
❌ Higher interest rates for low-doc or unsecured loans
💳 Why a Finance Broker Can Help Sole Traders Get Approved
A finance broker can:
✅ Find lenders that offer business and low-doc horse float finance
✅ Secure a loan structure that maximizes tax benefits
✅ Assist in applying with alternative income proof
🔑 Final Thoughts
If you’re a sole trader, horse float finance is available through business loans, low-doc finance, and secured lending options. Depending on your financial records and business use, you may qualify for tax benefits and flexible loan terms. A finance broker can help you find the right lender and maximize your approval chances.
🚀 Need horse float finance as a sole trader? Get expert advice today!
DISCLAIMER
The information provided on this website is general in nature only and has been prepared without considering your financial needs, circumstances and objectives and should NOT be construed as financial, taxation or legal advice. For more information, get in touch with our experienced partner brokers today.
