Selfco: bank-owned vehicle and equipment finance, sold through brokers

Most owners never meet Selfco by name. You ask your broker to find finance for a new excavator, a refrigerated van or a commercial oven, and the approval comes back on Selfco paperwork. That makes sense once you know how it works: Selfco doesn’t take applications from the public at all. Every deal reaches it through an accredited finance broker.

This profile covers who Selfco is, what it funds, how to get your application in front of it, and what your options are if it isn’t the right fit. Everything here comes from Selfco’s own website as at October 2026. Selfco publishes very little product detail, so where it’s silent, so are we.

Who is Selfco?

Selfco is an Australian business vehicle and equipment financier founded in 2003. According to its website it has helped thousands of owners acquire the vehicles, machinery and equipment their businesses run on.

Two details set it apart from many independent equipment financiers:

• It’s part of a bank. Selfco says it is a division of MyState Bank Limited, which is wholly owned by MyState Limited. It has also signed up to the industry’s Banking Code of Practice, so small business customers get a published set of promises about how they’ll be treated.
• It handles the whole deal in-house. Selfco says its team originates, approves, documents, settles and manages its transactions, rather than passing parts of the process to third parties.

Its office is in Baulkham Hills in Sydney’s north-west, and it says it has sales staff in the eastern seaboard capitals and Western Australia who work with brokers.

What does Selfco finance?

Selfco keeps its public description short: it finances the purchase of assets used in business. Its website mentions three broad categories.

Asset category	Typical examples for a small business
Vehicles	Utes, vans, light trucks and other vehicles used mainly for work
Machinery	Excavators and loaders, lathes and presses, farm and factory plant
Equipment	Commercial kitchen fit-out items, medical and dental equipment, IT and office gear

The examples in the right-hand column are ours, to make “assets used in business” concrete. Selfco says it covers “a vast range” of client types and asset classes, but it doesn’t publish an approved asset list, maximum asset age, loan limits, terms or trading minimums. Your broker will have that policy detail.

Equipment finance is normally secured on the asset itself, with the lender’s interest recorded on the PPSR. For the mechanics of the most common structure, see our page on the chattel mortgage, and for the bigger picture, our guide to equipment finance.

Why broker-only matters to you

Because Selfco lends only through brokers, the broker you choose decides whether Selfco is even on the table. A few practical points follow from that:

1. Check your broker is accredited. Selfco says it is a panel lender with most Australian broker aggregation groups, so many asset finance brokers can access it. Ask directly.
2. The broker packages the deal. Selfco has separate inboxes for scenarios, applications, documents and settlements, which tells you the process is built around a broker submitting a structured file. A clean, complete submission moves faster.
3. Ask the broker for a comparison. A good broker should show you Selfco alongside other options, with the total cost in dollars for each. Our page comparing a broker with a direct lender explains what to expect from that relationship.

Before you speak to anyone, it helps to know roughly what repayment the business can carry. Our equipment finance calculator gives you a fast estimate to take into that conversation.

Would a second view of the whole deal, beyond the asset, help? Tell us what you’re buying and we’ll come back with the lender types worth approaching, without touching your credit file.

Who might Selfco suit?

From what Selfco publishes, the natural fit is:

• An established small business buying a working asset, where the vehicle or machine will earn its keep and serve as security.
• Owners who already use a broker for their finance and are happy for that broker to handle the lender relationship.
• Businesses that value a bank-backed financier and the Banking Code of Practice protections that come with it.

It may be a weaker fit if you want to apply online yourself and get an answer without a broker, or if the real gap is payroll, inventory or an ATO bill rather than a machine. Equipment financiers fund equipment. For general cash flow, look at working capital loans instead.

Questions to ask your broker about a Selfco offer

Since Selfco’s criteria aren’t public, your broker is your source of truth. Get clear answers on:

1. What structure is this? A chattel mortgage, lease or hire purchase treats ownership, GST and tax differently. Your accountant can say which one sits best in your accounts.
2. What’s the total payable in dollars? Include every fee, plus any balloon at the end.
3. Is there a balloon payment? It trims each instalment, and in exchange a larger final amount falls due when the contract ends.
4. What happens if I pay it out early? Ask for the payout terms in writing.
5. Is a personal guarantee required? Directors are commonly asked to sign one.

If Selfco says no, where else can you go?

A decline from one equipment financier is information, not a verdict. Ask the broker for the reason, then match it to an option:

• The business is too new. Some asset financiers accept shorter trading histories. Our page on business loans with an ABN under 12 months walks through what lenders look for.
• Credit history problems. Specialist asset lenders will often weigh old defaults against current trading. Our page on bad credit business loans explains how.
• The asset itself doesn’t fit, for example it’s old, highly specialised or bought privately. A secured business loan against property can fund almost any purchase.
• You want to free cash from equipment you already own. A sale and leaseback may unlock it.

Other equipment financiers with profiles in this directory include Angle Finance, Metro Finance and Flexicommercial. Our guide to funding for buying machinery compares the structures side by side.

Buying an asset? Let’s work out the right lender first

Selfco is a solid, bank-owned option, but you can only reach it through a broker, and it won’t tell you upfront whether you fit. If you’d rather know where you stand before anyone runs a credit check, start with us.

Our enquiry form takes around a minute. Asking costs your credit score nothing, and nothing you type is auctioned off to a list of financiers. One of our team goes over your details personally, then phones for a proper conversation. Be precise about the asset, its price and your trading history: accurate answers are what let us suggest a suitable lender on the first pass.

Check my equipment finance options →