Key highlights
- Fund equipment, mobilisation, payroll and working capital between payments
- One application compares more than 80 bank and non-bank lenders
- Secured and unsecured structures matched to contract value and terms
- Fast pre-approval and funding may suit eligible mining services firms
- Bridge long payment cycles from mine sites and principal contractors
Mining services businesses can access finance to fund equipment, site mobilisation, payroll and working capital while large contract payments are still in the pipeline. Overdrive Business Loans works with ABN-holding contractors, drillers, labour hire firms and equipment suppliers across Australia, and dedicated broker Simon Kendrick compares more than 80 banks and non-bank lenders on a single application. That means one conversation, one set of paperwork, and loan structures matched to the scale, timing and security of your work.
Where the funding pressure sits
Mining services work is capital-hungry and back-loaded. You mobilise crews and plant to remote sites, meet payroll fortnightly, and often wait 30 to 60 days or more for principal contractors to settle. Winning a new contract can mean buying or leasing heavy equipment before a single invoice is paid. That mismatch between spending upfront and collecting later is where a well-structured business loan helps, giving you the capital to say yes to work without stretching reserves dangerously thin. Simon Kendrick begins by understanding your contract pipeline, payment terms and asset base, then matches finance that supports growth rather than adding avoidable strain.
Loan types worth comparing
The right structure depends on what you are funding. A term business loan suits a defined purchase or expansion repaid over one to five years. Equipment and asset finance can fund plant using the machinery itself as security. A business overdraft or revolving line of credit covers day-to-day gaps, drawn and repaid as contracts move. Invoice finance releases cash tied in unpaid contractor invoices. Unsecured facilities are typically available up to around $500,000 depending on the lender, while secured or asset-backed options can be considerably larger, always subject to lender criteria and the strength of your trading profile.
What it costs and how fast
Loan pricing is indicative and set by each lender after assessing your business, so we avoid quoting a single guaranteed rate. Time in business, turnover, credit profile, security offered and the length of your payment cycle all shape it. Established, secured mining services firms are generally priced more keenly, while short-term or higher-risk facilities cost more to reflect the flexibility and speed. For eligible applicants, pre-approval can be quick and funding within a few days may be possible once documents are supplied. Simon presents each option's total cost clearly so you can compare on more than the headline number.
What lenders want to see
Lenders generally look for a registered ABN, a solid trading history, and financials or bank statements showing consistent revenue. Signed contracts, a reputable client base and orderly asset records all strengthen an application, particularly for larger secured facilities. A manageable existing debt position helps too. Because Overdrive lodges one application across the panel, you sidestep repeated credit enquiries and duplicated paperwork. Simon knows which lenders are comfortable with the mining services sector and remote-site risk, so your application lands where it is genuinely likely to be approved rather than being tested across multiple banks.
If a contract is ready to go but the capital is not, a short conversation can clarify your options. Request a free quote and Simon Kendrick will compare suitable lenders for your mining services business, explain the numbers plainly, and help you structure finance that fits your contract timing. There is no obligation and no wasted enquiries on your credit file.
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