Green vehicle and equipment finance
Loans for Australian businesses buying eligible electric vehicles, renewable-energy equipment and other approved assets that reduce emissions or energy use.
Tämän rahoitusmahdollisuuden kuvaus on toistaiseksi englanniksi.
The vehicle and equipment loan route under NAB Green Finance for Vehicles and Equipment finances approved green assets. NAB lends you money to buy the asset, and the asset is used as security for the loan. You repay the borrowing with interest through fixed repayments.
For most purchases, no deposit is needed, subject to eligibility. The loan has a one-off AUD 600 setup fee for approved applications and no monthly maintenance fee. Additional fees can apply, and interest charges depend on the fixed interest rate and the projected outstanding balance.
You can choose a balloon payment: a larger lump sum to repay at the end of the loan. This lowers your monthly repayments but increases the interest you pay over the term. Without a balloon payment, monthly repayments are higher, total interest is lower and no lump sum is due at the end.
Eligibility
Your business must have a valid Australian Business Number (ABN), be registered for Goods and Services Tax (GST), and use the loan mostly for business purposes. Loans require credit assessment and approval; terms, conditions, fees and charges apply.
NAB must also approve the asset. Provide evidence, usually a detailed tax invoice, so NAB can confirm it meets the green criteria. The listed categories have different requirements:
- Transport: battery electric vehicles, plug-in hybrid utes, electric trucks and buses, electric ferries, trains and trams, EV charging infrastructure, hydrogen vehicles, and electric equipment for construction, agriculture, development, distribution or waste work may qualify. NAB needs a tax invoice and may request make, model and engine capacity, information on use and emissions, and confirmation of the power source.
- Renewable energy: onshore solar equipment, onshore wind electricity assets, and battery or heat storage that is grid-connected or part of a renewable-energy system may qualify. NAB needs a tax invoice and may request a project plan or scope of works identifying the financed assets and their individual costs.
- Manufacturing: equipment must be wholly dedicated to making key components for zero-emission transport, solar or wind generation, or related battery storage. Additional specific eligibility requirements apply, and a minimum finance amount may apply. Discuss these with a NAB business banker.
- Agriculture: energy-efficient tractors may qualify following NAB's assessment. Combine, cotton and sugar cane harvesters must be best in class by emissions and have engines meeting US Tier 4 or European Stage 4/5 standards. New or additional irrigation must have both variable speed drives and variable rate application and be powered by a solar pump. NAB assesses agricultural equipment case by case; tractor and harvester invoices must specify make, model and series, and irrigation invoices must show both control features with confirmation of solar power.
- Recycling: assets can include recycling bins, sorting equipment and equipment that processes recyclable waste into secondary raw materials, and equipment at facilities that collect, sort, clean, refurbish, recondition or repair products for return to their original use without further processing. Specific requirements and a possible minimum finance amount apply; discuss these with a NAB business banker.
- Heating and cooling: the system must be all-electric with a heat pump. Provide tax invoices for all equipment and installation costs.
- Bioenergy: technology supporting energy or fuel production from processing biomass may qualify. Tax invoices are required for all equipment and installation costs, and additional eligibility requirements apply. Discuss these with a NAB business banker.
How to apply
- Tila
- Jatkuva haku
- Hakukierroksen ehdot
- Asset eligibility and credit approval are required.
Contact your NAB relationship manager, or use the public callback form and describe your business and the vehicle or equipment you want to finance. A specialist banker will help you complete the application.
NAB assesses your business's financial performance and ability to repay. Most businesses need financial statements for the last two years and their latest full tax portal report, including business activity statements. Directors or shareholders may also be asked for personal financial information.
For the loan route, provide the final invoice and sign the documents NAB sends you. NAB pays the supplier after it receives the documents and the asset is ready for collection. You can collect it once all signed documents and outstanding requirements are satisfied and the supplier has been paid. If you have already purchased the asset, NAB can set up a loan and reimburse its cost.