Low Doc Business & Equipment Finance

Plenty of good businesses cannot produce two years of finalised financials on demand. The accountant is behind, the last financial year does not reflect where the business is now, or the ABN is newer than the opportunity in front of you. Low doc finance exists for that gap, and it is not a lesser product. It is the same lending, assessed on different evidence.

What "low doc" actually means. Instead of full financial statements and tax returns, the lender accepts recent business bank statements, BAS lodgements, or a declaration from your accountant that the business can service the loan. Which of those, and how many months, is set by each lender rather than by law, which is why appetite varies so much. Our plain-English guide to what a low doc loan is covers the basics, and low doc versus full doc covers which one you actually need.

The asset is the security, and that is the whole point. Low doc works because the lender's risk is covered by something identifiable, valuable and resaleable: the vehicle, the machine, the truck. That is what makes lighter paperwork possible. It also means low doc is for buying an asset. If you need working capital rather than a thing, that is an unsecured business loan, assessed on your trading with no security taken. Different products, not two names for one.

What we arrange low doc. Business vehicles and utes, covered in detail at low doc car loans for the self-employed. Trucks and trailers, at truck finance. Machinery, plant and workshop equipment, at low doc equipment and asset finance, which goes through what the lighter paperwork costs you and when waiting for full doc is the better call. Most of it is structured as a chattel mortgage, so the business owns the asset from day one and the depreciation and GST treatment follow from that, with the instant asset write-off covering the deduction side.

Who qualifies. Low doc business finance is available to ABN holders and self-employed Australians with an established income, whether you trade as a sole trader, partnership, company or trust. Applicants are generally Australian citizens or permanent residents, and finance is available for assets from around $10,000. Who qualifies for a low doc business loan sets out the criteria in full, ABN and sole trader lending covers trading on your own, and business loan requirements covers the order lenders assess in. How you are structured decides who borrows and who signs: see how your business structure affects finance.

Lender policy varies more here than anywhere else in asset finance: what evidence counts, how old an asset can be, how long you need to have been trading. Being matched to a lender whose rules fit your situation, before anything is lodged, is what avoids a decline on your credit file. For the full doc path, see equipment finance and asset finance explained.

1. Tell us what you are buying. The asset drives everything: what it is, its age, and whether it is dealer or private sale. A clear answer here is worth more than a long conversation about rates.

2. We check which path suits. Low doc, full doc, or an unsecured facility if what you actually need is working capital rather than an asset. We will say so if low doc is not your cheapest route.

3. We work out what evidence you have. Bank statements, BAS, or an accountant's declaration. What you can produce decides which lenders are open to you, so we establish it before anything is lodged.

4. We match it to a lender. From more than 40, the one whose low doc rules fit your trading history, your industry and the asset. One application, not five, because every application is recorded.

5. Approval. Low doc decisions are generally quick once the lender has your evidence. We tell you what is outstanding rather than leaving you guessing.

6. Documents and security. Contracts issued for electronic signing, with the lender's interest registered against the asset.

7. Settlement. Funds go to the dealer or seller, and you take delivery. We confirm the registration and the first repayment date so nothing is a surprise.