🚛 Can You Get Horse Float Finance Without Full Financials?
Yes! If you’re self-employed but don’t have full financial documents, you may still qualify for horse float finance through a low-doc or no-doc loan. These loans allow business owners, freelancers, and gig workers to secure finance without providing full tax returns or financial statements.
Since lenders assess risk differently for self-employed applicants, they may require:
✔️ Bank statements instead of tax returns
✔️ A larger deposit (10-30%)
✔️ A secured loan using the horse float as collateral
🏦 How Low-Doc & No-Doc Horse Float Loans Work
Low-doc and no-doc loans are designed for self-employed borrowers who don’t have traditional financial records but still earn a consistent income.
| 🔑 Factor | Low-Doc Loan | No-Doc Loan |
|---|---|---|
| 📑 Financial Documents | Bank statements, BAS statements, or accountant’s letter | No formal financials required |
| 💰 Loan Security | Horse float used as collateral | May require extra security |
| 📉 Deposit Required | 10-30% typically needed | Higher deposit (up to 50%) often required |
| 📆 Interest Rate | Higher than full-doc loans | Higher due to increased risk |
| 🚛 Loan Approval Time | Faster than standard loans | May take longer due to additional checks |
💡 Tip: If you don’t have tax returns, some lenders will accept a self-declaration of income, backed by bank statements.
📋 How to Improve Your Chances of Approval Without Full Financials
If you’re self-employed with no financials, you can still qualify for finance by taking the following steps:
✅ Provide Bank Statements – Most lenders require 6–12 months of business transactions to verify income.
✅ Use a Secured Loan – Putting up the horse float as collateral reduces lender risk.
✅ Offer a Larger Deposit – The higher your deposit, the lower the lender’s risk, increasing approval chances.
✅ Consider a Guarantor – If you have limited financial records, a co-signer can help secure approval.
✅ Choose a Specialist Lender – Some lenders specialize in self-employed finance, offering flexible approval criteria.
💡 Tip: If your business is new (less than 12 months old), having a solid bank balance and consistent cash flow can strengthen your application.
🏆 Pros & Cons of Low-Doc & No-Doc Horse Float Loans
✅ Pros:
✔️ No need for full financial records or tax returns
✔️ Faster approval than standard business loans
✔️ Allows self-employed borrowers to access finance
⚠️ Cons:
❌ Higher interest rates compared to full-doc loans
❌ May require a larger deposit
❌ Fewer lender options compared to traditional finance
💳 Why a Finance Broker Can Help Self-Employed Borrowers Without Financials
A finance broker can:
✅ Find lenders who offer low-doc and no-doc horse float loans
✅ Secure a loan structure that works with your cash flow
✅ Help reduce interest rates by negotiating better loan terms
🔑 Final Thoughts
If you’re self-employed but don’t have full financials, a low-doc or no-doc horse float loan could be your best option. While these loans may have higher interest rates and deposit requirements, a finance broker can help you find lenders that offer the best deal for your situation.
🚀 Self-employed and need horse float finance? Get expert advice today!
DISCLAIMER
The information provided on this website is general in nature only and has been prepared without considering your financial needs, circumstances and objectives and should NOT be construed as financial, taxation or legal advice. For more information, get in touch with our experienced partner brokers today.
