Small business lending covers a lot of ground, from a short-term overdraft to smooth out cash flow, through to a term loan for equipment or expansion. What suits your business depends on what you’re funding, how established you are, and how your income is documented.
Sole traders and small businesses without full financials aren’t locked out. Low doc and ABN-only lending options exist specifically for this, assessed on your trading history and bank statements rather than a complete set of tax returns.
At Loanworx, we compare small business finance across major banks, second-tier lenders and specialist non-bank funders, matching your business to a lender who’ll actually say yes, rather than pointing you at whichever product is easiest for us to sell.
That includes loans for ABN holders who don’t have two full years of financials to hand over. Sole traders, tradies and newer businesses are assessed on ABN registration length, bank statement history and trading activity, not shut out for lacking a complete paper trail.
Running a small business and need funding? Call us on 1300 562 696 or get in touch and we’ll be back to you shortly.
There’s no one-size-fits-all small business loan. Here are the main shapes it comes in.
A term loan gives you a lump sum repaid over a set period, suited to a defined purchase or project. A line of credit or overdraft gives you ongoing access to funds up to a limit, suited to managing day-to-day cash flow.
A secured loan uses property or other assets as security and generally attracts a lower rate. An unsecured loan doesn’t require security but usually comes with a higher rate and a lower borrowing limit.
Asset finance funds vehicles, equipment and machinery, secured against the asset itself. Invoice or debtor finance advances funds against outstanding invoices, which can free up cash tied up in slow-paying customers.
If your business doesn’t have two full years of tax returns and financials, you still have real options.
Rather than requiring full financial statements and tax returns, low doc lenders assess your business primarily on your ABN registration length, bank statement history and self-declared income.
Sole traders, tradies, and small businesses that are newer, growing quickly, or whose tax returns don’t fully reflect current trading, often find this the more realistic path to approval.
Low doc lending generally comes with a rate premium or a lower maximum borrowing limit compared to a full-doc loan, reflecting the reduced documentation the lender is relying on.
As your business matures and your financials become more established, moving to a full-doc facility can improve your rate and borrowing capacity, which is worth revisiting as your business grows.
Commercial finance isn’t only about the headline rate. It’s about being matched to a lender that will approve you, structuring the facility so it suits the business long term, and having someone manage the process. Here’s what working with us looks like.
We compare commercial facilities across a broad panel of major banks, second-tier lenders, non-bank funders and specialist commercial lenders, so you see a genuine spread of options. We match the deal to the lender most likely to approve it at a competitive rate, which often isn’t your everyday bank.
You deal with experienced brokers who expect to see trusts, companies, partnerships, partner distributions and complex security, and who know how to present your structure to a lender accurately rather than force-fitting it into a generic application.
From the first conversation to settlement, we prepare the submission, liaise with the lender, coordinate with your accountant and solicitor, and keep you updated at each stage, so the deal keeps moving and you’re never chasing it.
For most commercial transactions, Loanworx is paid an upfront and trail commission by the lender after settlement, and that commission typically does not change the rate or fees you pay. For more complex scenarios a fee for service may apply, and we’ll disclose it in writing before any work begins. No surprises.
Yes. Low doc and ABN-only lending is designed for exactly this, assessed on your ABN history, bank statements and self-declared income rather than a full set of financial statements. It typically comes with a rate premium or lower borrowing limit than a full-doc loan.
A secured loan uses property or other assets as security and generally attracts a lower rate. An unsecured loan doesn’t require security but usually comes with a higher rate and a lower maximum borrowing limit.
It depends on the lender and the product. Low doc lenders often look for a minimum period of ABN registration and trading history, while full-doc lenders typically want at least one to two years of financials. We can match you to lenders whose requirements fit where your business is at right now.
Yes. Equipment or asset finance is secured against the specific asset you’re purchasing, such as a vehicle or machinery, and is generally assessed and priced differently to a general-purpose business loan.
Not quite. Invoice or debtor finance advances funds against outstanding invoices you’ve already issued, which can improve cash flow without taking on a traditional loan structure. It suits businesses with a cash flow gap caused by slow-paying customers.
Talk through your scenario with a specialist commercial broker, with no cost and no obligation. Call us on 1300 562 696 or get in touch and we’ll be back to you shortly, ready to map out what’s possible for your business.
Disclaimer: The information provided here is general in nature and should not be considered financial, tax or legal advice. You should consult your professional advisers, such as your accountant, solicitor and financial planner, to see whether a particular finance strategy is suitable for your business, ahead of a discussion with us that will be limited to how to arrange any funding required.
