FAQ
Eligibility: your questions answered
Questions about who lenders will consider and what they assess. Covers trading history, ABN and GST registration, turnover, credit history, property ownership and the difference between what one lender declines and another may consider. No lender on our panel guarantees approval, and every application is assessed on its own merits.
Am I eligible for an unsecured business loan?
We compare options for Australian businesses. Lenders look at factors such as trading time, turnover, cash flow, credit history and the amount you need. Tell us about your business and we will explain which options may fit. There is no single minimum that applies across every lender on our panel.
What documents will you need?
We start with a conversation about your business. To assess your options, lenders commonly need identification and recent business bank statements. Depending on the loan, they may also request BAS, financials or statements for existing debts. Your broker gives you a clear list for your situation.
How long does my ABN need to be active?
It varies by lender and product. Many unsecured business lenders want at least six to twelve months of trading, while some asset finance lenders will consider a new ABN where the director has industry experience, a clean credit file and often property ownership or a deposit. Registration for GST is frequently expected once turnover reaches the threshold. A short ABN history is not an automatic decline, but it narrows the panel and usually affects the rate and structure offered.
Are low-doc options available?
Yes, some lenders offer low-doc pathways. Low-doc does not mean no documents or automatic approval. The information required depends on your business, the amount and the lender. Your broker will explain what is needed.
Do I have to own property to get business finance?
No. Plenty of finance is written for non-property owners, especially asset finance where the equipment itself is the security, and unsecured lending assessed on cash flow. That said, property ownership widens the panel and often improves pricing, because it gives a lender an additional avenue if things go wrong. If you do not own property, expect more weight on trading history, bank conduct and the quality of the asset being financed.
Can a sole trader or partnership apply, or do I need a company?
Sole traders, partnerships, companies and trusts can all be considered. The entity type changes the paperwork rather than the availability of finance: a company application usually needs director details and ASIC records, a trust needs the trust deed, and a sole trader is assessed largely on personal credit alongside business performance. Guarantees are commonly required regardless of structure. Your accountant is the right person to advise which entity should own the asset for tax purposes.
Related: Unsecured business loan · Equipment loan · Low-doc business loan