Business Finance

The two-year problem

Most banks want two years of trading history and two years of tax returns before they'll look at you. That rule doesn't distinguish between a genuinely risky new business and a tradie who spent fifteen years employed, went out on his own eighteen months ago, and is booked solid.

Same person, same skills, more income than before — declined on a calendar technicality.

A good part of the panel prices for exactly this. New ABN with industry experience behind it is a completely writable deal with the right lender.

What we can arrange

What “no financials” actually means

It doesn't mean nobody looks at anything. It means the lender assesses you on something other than two years of completed tax returns — typically bank statements showing money moving through the business, BAS, or an accountant's letter. Sometimes the asset itself carries the deal where there's a deposit or equity.

There's usually a way to evidence income. It's rarely the way the bank asked for it.

The full ABN holder rundown →

How the application actually runs

You ring us. Not a call centre, not a web form that disappears into a queue — one broker takes the call, prices the deal and sees it through to settlement.

The first conversation is about ten minutes on the business: what it does, how long, what the money's for, how income arrives. Then the documents — usually three to six months of business bank statements, BAS if you're registered — and a credit check that won't affect your credit score.

From there we match the deal across the panel and come back with the real options, not a rate-card fantasy. Conditional approval typically runs 24 to 72 hours, and settlement follows within days once you've picked.

And if the honest answer is not yet — it happens — you'll get the reason and the fix, not a form letter. Sometimes that's three more months of statements, sometimes it's clearing a small default first. Better a straight no with a path back than a maybe that wastes your quarter.

What lenders actually read in your bank statements

On a low doc deal, your bank statements are the application. Knowing what gets read makes it easy to put your best case forward.

What they look for: income arriving regularly, whatever the rhythm — weekly invoices or monthly progress payments both work if they're consistent. What hurts: dishonours. A bounced direct debit in the last few months is the single reddest flag on a statement, and avoiding one matters more than almost anything else you can do before applying.

They'll also see your existing commitments — every loan repayment leaving the account — and the general conduct: does the balance hold above zero, do big round-number transfers appear without explanation. If there's something unusual in your last few months, a big equipment sale, an insurance payout, a one-off — tell us upfront. An explained anomaly is nothing; an unexplained one is a delay.

If you can, run business income through the business account for at least a quarter before applying. Income that lands in a personal account and bounces around is real money the lender can't cleanly count.

Sole trader, company or trust — does the structure matter?

All three are writable: sole traders, partnerships, companies and trusts. What changes is the paperwork and who stands behind the loan.

Company borrowing almost always carries a director's guarantee — the company borrows, and you personally stand behind it. That's standard, not a red flag, but you should know you're signing it. Trusts add one document to the pile: have the trust deed handy, because the lender will want it.

Partnerships sit in between: the partners are assessed together, and each usually stands behind the borrowing. If it's a husband-and-wife operation or a two-mate trade partnership, both sets of circumstances come into the picture — worth knowing before the application rather than during it.

The trap is restructuring. Go from sole trader to company after eight good years and, on paper, the new entity was born yesterday. The history doesn't vanish — it just needs telling. Give us the back-story and we'll present the continuity to lenders who price the experience, not the registration date.

Common mistakes with business finance

After the first deal

The first loan is the hardest one. From there, your repayment history becomes an asset in its own right — the second vehicle or machine is usually a quicker, easier write because the file now shows you performing.

Timing helps too. Apply on the strength of your current statements when they're good — after the strong quarter, not during the flat one. A growing business that plans purchases a few weeks ahead consistently gets better outcomes than one buying in a scramble.

And review what you're already carrying about once a year. Facilities written when the business was younger are often beatable now. We compare 60+ lenders and will beat your current offer.

The jargon, in plain English

What customers say

Questions we get asked