Can You Get Horse Float Finance With an ABN But No Business History? ๐Ÿ‡๐Ÿ’ฐ

๐Ÿš› Can You Get Horse Float Finance with an ABN But No Business History?

Yes! Some lenders offer ABN loans for new business owners, even if you havenโ€™t been operating for long. Approval depends on:

โœ… How long your ABN has been active
โœ… Whether youโ€™re GST-registered (some lenders require it)
โœ… Your personal credit score
โœ… The type of loan (secured vs unsecured)

๐Ÿ’ก Tip: Some lenders require an ABN to be active for 6+ months before approving finance.

๐Ÿฆ How This Buyer Secured Horse Float Finance with a New ABN

A 31-year-old trainer registered an ABN for an equine transport business but had no financial history. They still secured finance by:

๐Ÿ”‘ Strategy โœ… How It Helped
๐Ÿ“‘ Applying for a low-doc loan Avoided the need for full financials
๐Ÿš› Using a secured loan Offered the horse float as collateral
๐Ÿ’ฐ Providing a 20% deposit Reduced lender risk, increasing approval chances
๐Ÿ“† Showing other income sources Proved they could afford repayments

๐Ÿ’ก Tip: If you donโ€™t have business financials, lenders may assess your personal income and credit score instead.

๐Ÿ“‹ How to Improve Your Chances of Approval with a New ABN

If your ABN is new, follow these steps to increase your approval odds:

๐Ÿ”‘ Step โœ… What to Do
๐Ÿ“‘ Keep Your ABN Active Some lenders require at least 6+ months of ABN history
๐Ÿš› Consider GST Registration Some lenders prefer businesses earning over $75,000 per year
๐Ÿ’ฐ Choose a Secured Loan Using the horse float as collateral reduces risk
๐Ÿ“† Show Personal Income If no business history, lenders may check other earnings
๐Ÿ“‰ Improve Your Credit Score A higher personal credit score helps approval chances

๐Ÿ’ก Tip: Even if your ABN is new, offering a deposit can increase lender confidence.

๐Ÿ† Best Loan Options for New ABN Holders

Lenders offer various finance options depending on business experience and collateral availability.

๐Ÿ”‘ Loan Type โœ… Best For ๐Ÿ“‰ Interest Rate (Typical)
๐Ÿš› Secured ABN Loan New business owners with collateral 6โ€“12% p.a.*
๐Ÿ’ฐ Low-Doc Loan Self-employed buyers without full financials 7โ€“15% p.a.*
๐Ÿ“† Chattel Mortgage Business owners needing tax benefits 6โ€“10% p.a.*
๐Ÿ“‰ Guarantor Loan Borrowers with no business history but a co-signer 6โ€“12% p.a.*

๐Ÿ’ก Tip: A chattel mortgage is a great option for business owners looking for tax benefits.

(*Rates vary based on lender and credit profile.)

๐Ÿ’ณ Why a Finance Broker Can Help New ABN Holders

A finance broker can:

โœ… Find lenders that accept new ABN holders
โœ… Assist with low-doc applications for faster approval
โœ… Compare business loan vs personal loan options to get the best rate

๐Ÿ”‘ Final Thoughts

Even with a new ABN and no business history, you can still secure horse float finance by choosing a secured loan, proving personal income, or opting for a low-doc loan.

๐Ÿš€ Need horse float finance for your new business? Get expert advice today!

This article follows the structured format, numbering, and tables for clarity and engagement. Let me know if youโ€™d like any refinements before moving on to the next article! ๐Ÿš€

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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.

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All Your Questions Answered

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A car loan is a finance product where a lender provides funds for you to purchase a vehicle, which you repay over time with interest.

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Use Equifax, Experian, or Illion for a free check.

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Not always.

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1 to 7 years is standard.

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24โ€“48 hours in most cases

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Often, yes. They can compare lenders for you.

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