🚛 Can You Get Horse Float Finance If You Have No Financials?
Yes! If you’re self-employed without full financials, you may still qualify for horse float finance through low-doc or no-doc loans. These loans are designed for business owners, freelancers, and sole traders who don’t have traditional proof of income.
To improve approval chances, lenders may ask for:
✔️ Business bank statements showing consistent income
✔️ BAS (Business Activity Statements) or an accountant’s letter
✔️ A secured loan using the float as collateral
✔️ A deposit to lower lender risk
🏦 How Lenders Assess Self-Employed Borrowers with No Financials
Since self-employed borrowers may not have payslips or tax returns, lenders assess alternative proof of earnings to determine eligibility.
| 🔑 Factor | Why It Matters | How It Affects Approval |
|---|---|---|
| 📑 Business Income Proof | Verifies earning ability | 6–12 months of bank statements may be required |
| 💰 Loan Security | Using the float as collateral lowers risk | Secured loans offer better rates |
| 🚛 Deposit Amount | A deposit reduces the amount borrowed | A 10-30% deposit improves approval chances |
| 📆 Credit Score | Reflects financial responsibility | Higher scores lead to better loan terms |
| 📉 Guarantor Support | A co-signer takes responsibility for the loan | A strong guarantor increases approval odds |
💡 Tip: If you haven’t filed recent tax returns, some lenders accept BAS statements or an accountant’s letter confirming your income.
📋 Best Finance Options for Self-Employed Borrowers with No Financials
If you’re self-employed but lack tax records, these finance options may help:
| 🔑 Loan Type | How It Works | Best For |
|---|---|---|
| 🚛 Low-Doc Horse Float Loan | Requires minimal paperwork like bank statements or BAS | Self-employed borrowers without tax returns |
| 💰 Secured Loan | Uses the float as collateral for lower interest rates | Borrowers with irregular income but strong business cash flow |
| 📆 Guarantor Loan | A co-signer improves approval odds | Applicants with low-doc financials |
| 📉 Business Equipment Loan | Available for business-use floats | Business owners needing a tax-deductible loan |
💡 Tip: If you’re using the float for business purposes, a business loan (chattel mortgage) may offer tax benefits like GST claims and depreciation.
🏆 Pros & Cons of Horse Float Finance with No Financials
✅ Pros:
✔️ Allows self-employed applicants to access finance without full tax returns
✔️ Secured loans offer lower interest rates and better approval chances
✔️ Some lenders accept alternative income proof (bank statements, BAS, accountant’s letter)
⚠️ Cons:
❌ Some lenders charge higher interest rates for low-doc loans
❌ Approval may take longer due to extra verification requirements
❌ May require a deposit or guarantor to strengthen the application
💳 Why a Finance Broker Can Help Self-Employed Borrowers with No Financials
A finance broker can:
✅ Find lenders that offer low-doc finance for self-employed applicants
✅ Secure a loan with flexible repayment options
✅ Assist in applying with alternative income proof
🔑 Final Thoughts
If you’re self-employed but don’t have full financials, you can still qualify for horse float finance with the right lender. Low-doc and secured loans are the best options, and working with a finance broker can help you find lenders who specialize in self-employed finance.
🚀 Self-employed with no financials but 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.
