What low doc actually means
Banks typically want two years of financial statements, tax returns and BAS before they will look at a business loan. Plenty of good businesses simply do not have those documents ready, because the accountant is behind, the business is growing fast, or the structure changed recently. Low doc finance exists for exactly this situation.
Instead of full financials, low doc lenders rely on things like your ABN and GST registration history, a signed income declaration, bank statements, or the equity you hold in property or the asset itself. The trade-off is that each lender has its own rules about who qualifies and for what, which is where a broker earns their keep.
What you can finance low doc
- Work vehicles: utes, vans, trucks and dual cabs, usually via chattel mortgage
- Yellow goods and machinery: excavators, bobcats, attachments
- Trade and site equipment: from compressors to scaffolding
- Business car upgrades where the vehicle is used mostly for work
Typical low doc requirements are an active ABN (lenders like to see it aged, commonly two years or more), GST registration for larger amounts, a clean repayment history and sometimes a deposit or property backing. Newer ABNs can still be workable with the right lender.
Why go through Solvyr
Low doc is the least standardised corner of business lending. One lender will do a new ABN with a deposit, the next wants two years of GST history but no deposit, a third will only look at property owners. Applying to the wrong one wastes time and adds an enquiry to your file.
We deal with more than 30 lenders including the specialist and non-bank funders who actually write this stuff. You tell us your situation once and we place it with the lender most likely to say yes at the sharpest terms available for your profile.
FAQs
What documents do I need for low doc finance?
Usually your ABN details, photo ID and an income declaration. Depending on the lender and amount, bank statements or proof of property ownership can strengthen the application. It is a fraction of what a full doc application needs.
How new can my ABN be?
Most low doc lenders prefer an ABN aged two years or more, but some will consider newer ABNs with a deposit or property backing. We will tell you honestly which lenders are realistic for your ABN age.
Is low doc finance more expensive?
Lenders price low doc loans according to the reduced paperwork and risk, so rates are typically higher than a full doc bank loan. The right structure still often beats waiting months for financials. We compare the panel so you see the sharpest option you qualify for.
Can I claim the finance on tax?
Business use portions of interest and depreciation are often deductible, and structures like chattel mortgages are popular for exactly that reason. Speak to your accountant about your specific situation, as we do not give tax advice.
How fast can equipment finance settle?
For straightforward low doc deals with responsive suppliers, approval can land within 24 to 48 hours and settlement inside the week. Complex assets or private sales take longer.
Ready to get moving?
Tell us what you are looking to finance. It takes about two minutes and does not affect your credit score.
Prefer to talk? Call 0468 157 797