Quick answer
Most business loans need identification for all owners or directors, your ABN and ACN, six to twelve months of business bank statements and recent BAS. Full doc loans add tax returns and financial statements. Property-secured loans add the property address, a rates notice and any mortgage statement. A short note explaining credit issues, tax debt and the loan purpose speeds every application.
Key points
- ID, ABN and bank statements are needed almost every time
- BAS replaces tax returns for many low doc loans
- Property loans add rates notices and mortgage statements
- Written explanations save days of back and forth
Why preparation matters
Most delays in business lending happen while lenders wait for documents. A missing bank statement, an unlodged BAS or an unexplained credit listing can turn a one-day decision into a two-week saga. Gathering everything once, before you apply, is the simplest way to speed things up. Our interactive loan readiness checklist shows how ready you are for each route.
The essentials for almost every loan
Photo identification for every owner, director and guarantor. Your ABN, and ACN if you are a company. Six to twelve months of business bank statements, or secure electronic access to them. A clear one-line purpose for the loan. A list of existing business debts with balances and repayments. And contact details for your accountant if they will be involved.
For low doc unsecured loans
Add recent lodged BAS if you are registered for GST, which are often the strongest substitute for tax returns. Some lenders ask for an accountant’s letter or a signed declaration confirming income. If your returns are behind, include a short note explaining why and when they will be lodged. See low doc business loans.
For full doc loans
Add your last one or two years of business tax returns and notices of assessment, financial statements prepared by your accountant, and sometimes year-to-date management accounts, an aged debtors list or a cash flow forecast. For larger loans, a short business plan or summary of the purpose and expected returns helps.
For property-secured loans
Add the property address and title details, the latest council rates notice, a recent statement for any existing mortgage, and identification for every owner of the property, including owners who are not directors. Our property-secured loans need no valuation before approval, but a realistic estimate of value and photos of the property help. If you are buying property or a business, add the contract of sale.
For equipment finance
Add a supplier quote or invoice, details of the equipment’s age and condition if used, and for private sales, evidence of ownership and a check that no finance is registered against it.
For tax debt loans
Add your ATO portal statement showing the balance and its components, any correspondence from the ATO such as payment plan terms or director penalty notices, and confirmation that recent BAS are lodged.
The documents nobody asks for but everybody wants
A short written explanation of anything unusual: a default and how it happened, a quiet month in the statements, a large one-off deposit, a recent restructure, a tax debt and its cause. Lenders who read applications personally respond well to context. It also stops a system or a person from drawing the wrong conclusion.
Keep a ready file
Owners who borrow occasionally benefit from keeping a folder up to date: current ID scans, the latest twelve months of statements, recent BAS, the latest rates notice and mortgage statement, and a one-page business summary. When the next need arrives, the application can go in within the hour.
An illustrative example
A logistics owner applied for working capital twice. The first time, documents arrived over ten days and the opportunity passed. The second time, he had a ready file and a short note explaining a quiet month and an old default. The lender approved within a day.
Start with what you have
Fill in the short form. You can ask with no credit check, a real lender reads it, and nothing is passed on. Get your checklist sorted.
Frequently asked questions
Do I need certified copies of ID?
Many lenders verify identity electronically. Some ask for certified copies; they will tell you which.
How recent do bank statements need to be?
Usually up to the current month, covering the last six to twelve months.
Do I need an accountant's letter?
Sometimes for low doc loans, to confirm income or a lodgement plan. Not always required.
What if I am missing a document?
Start anyway. A lender can tell you what is essential and what can follow.
Will lenders need my personal tax return?
For sole traders, yes, if available. For companies, the company's documents matter most, with directors' personal details for guarantees.
Prefer to start now? Enquire here
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